Asia Pulse: BRIEFING - ASIA ENERGY - NOV 9, 2004: SHELL'S FIRST ASPHALT FACILITY IN CHINA TO START PRODUCTION: “…the first production facility of Shell in China“ (ShellNews.net)
Nov 09, 2004
An executive briefing on energy for Nov 9, 2004, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.
OIL COMPANIES TO WIND UP PETRONET INDIA BY 2005
MUMBAI - Oil companies are planning to exit the joint venture pipeline company Petronet India by 2005 and have appointed ICICI Securities for the purpose.
A board meeting of Petronet India will be held later this month in which the wrapping up of the company would be discussed with ICICI Securities, Indian Oil Corporation (BSE:IOC) director A M Upplenchwar told reporters here.
BHP BILLITON CEO SAYS OIL PRICE TO REMAIN UNSTEADY
MELBOURNE - BHP Billiton (ASX:BHP) CEO Chip Goodyear said the oil price was likely to remain volatile and should rise in the short term during the northern hemisphere winter.
"(The oil price) is going to keep moving up and down, you just don't know which is going to happen first," Mr Goodyear said.
TOYOTA TSUSHO DEBUTS POWERFUL WIND TURBINE FROM DENMARK
TOKYO - Toyota Tsusho Corp. (TSE:8015) has started marketing a 3,000kw wind turbine produced by Vestas Wind Systems A/S of Denmark.
The wind power system boasts a greater capacity than that of Mitsubishi Heavy Industries Ltd.'s (TSE:7011) 2,400kw turbine, which is touted as the most powerful Japanese-made generator.
RISE IN ENERGY PRICES IN CHINA SET TO MODERATE NEXT YEAR
BEIJING - Energy price hike in China is expected to moderate next year though there are still pressures for small rises, according to a forecast made by the Price Monitoring Center of the State Development and Reform Commission.
Energy prices, particularly those of coal, electricity and oil, have risen sharply this year.
MALAYSIA'S PETRONAS DAGANGAN BOOKS 27.7% ON-YR RISE IN H1 REVENUE
KUALA LUMPUR - Petronas Dagangan Bhd (KLSE:PETR) has chalked up group revenue of RM5,906.9 million (US$1,554.4 million) in the six months to 30 September 2004, 27.7 per cent higher than for the same period last year.
The higher revenue was due to higher sales volume and stronger average selling prices, it said in a filing to Bursa Malaysia.
VIETNAM'S SU TU DEN OIL FIELD PRODUCES 3.6 MLN TONNES OF CRUDE
HANOI - The offshore Su Tu Den (Black Lion) oil field in Ba Ria-Vung Tau province has produced 27.1 million barrels of crude, equivalent to 3.6 million tonnes, since Oct. 29, 2003, the Cuu Long Joint Operation Company, which manages the field, has announced.
On average, 74,508 barrels were pumped per day from seven of the field's wells, located 52 metres under the water in block 15.1 in Vietnam's southern continental shelf off the coast of Vung Tau.
IRAN TO INCREASE HYDROPOWER OUTPUT BY 44 PCT
TEHRAN - Iran's power capacity will increase by 44 per cent after a 2,000-mw hydropower plant that is to be built beside Karoun 3 dam is completed in the near future, managing director of Water and Power Resources Development Company said.
The English-Language daily `Tehran Times` quoted Ali Akbar Zahmatkesh as saying the nation`s biggest reservoir dam, Karoun 3, will begin to be filled with water on Monday when the energy minister arrives in Khuzestan.
GASOLINE, KEROSENE CONSUMPTION DROPS IN S.KOREA
SEOUL - High oil prices and the weak economy is causing a drop in the consumption of gasoline and kerosene in South Korea, a trade association said Tuesday.
Domestic consumption of gasoline fell 3.8 per cent to 43.45 million barrels in the first nine months of this year from 45.15 million barrels a year earlier, the Korea Petroleum Association said.
SINOPEC-BP GROUP JV ESTABLISHED IN BEIJING
BEIJING - A joint venture between China's Sinopec and Britain's BP Group, was officially established in Beijing on November 4. This indicates that China has accelerated the pace of opening its finished oil market to the outside world.
The new company, called Sinopec-BP (Zhejiang) Petroleum Co., Ltd, is the third finished oil retailing joint venture approved by Chinese government so far. Before it, two finished oil retailing joint ventures between PetroChina and BP Group, Sinopec and the Netherlands' Shell Group have been established in succession.
PETROLEUM THROUGHPUT AT DALIAN PETROLCHEMICAL TOPS 10 MLN TONS
DALIAN - PetroChina Dalian Petrochemical processed more than 10 million tons of crude oil by the end of October, 740,000 tons more than the total of last year.
The sales revenue of the company in January-September reached 26 billion yuan, 30 per cent more than in the whole of last year. The company also completed the building of a 20 million ton-crude processing base, the largest in the country.
INDIAN POWER MIN SEEKS AUTOMATIC APPROVAL OF SMALLER PROJECTS
NEW DELHI - In a bid to expedite clearances for power projects, the Power Ministry will soon approach the Cabinet with a proposal that allows all schemes below Rs 15 billion (US$322 million) automatic approval.
"The Committee of Secretaries has approved our proposal which would permit projects less than Rs 15 billion automatic approval after they get techno-economic clearance. We will now go to the Cabinet," Power Secretary R V Shahi said at the Foundation Day of National Hydroelectric Power Corporation.
PERTAMINA TO IMPORT 7.2 MLN BARRELS OF DIESEL OIL FROM RUSSIA
JAKARTA - State-owned Indonesian oil company Pertamina has signed a purchase contract for 7.2 million barrels of high speed diesel oil for delivery until November 2005.
The contract, signed with a Singaporean trader WVC Petroleum (Far East) Ltd, comes as the company seeks to bolster its stock for next year, the newspaper Bisnis Indonesia quoted a Pertamina source as saying.
INDIAN GOVT TO RAISE NATURAL GAS PRICES
NEW DELHI - The petroleum ministry has proposed to raise natural gas price by 12 per cent for fertilizer units and 26 per cent for power units in the period prior to complete deregulation of the natural gas sector.
The Ministry has moved a Cabinet note to raise the price of natural gas from Rs 2850 (US$63.15) per thousand cubic metres to a fixed price of Rs 3200 per thousand cubic metres and Rs 3600 per thousand cubic metres to the fertilizer and power sectors respectively on a provisional basis, official sources said.
CHINA'S DEMAND FOR POWER TO REACH 2,391 BLN KWH IN 2005
ZHENGZHOU - China's demand for power will continue to grow this year and into next year, while supply will remain tight, the State Power Grid said.
China's electricity consumption is expected to grow 10.5 per cent and demand reach 2,391 billion kWh in 2005.
INDIA ASKS PAKISTAN TO DROP DIESEL FROM NEGATIVE LIST OF IMPORTS
ISLAMABAD - Ahead of Pakistan Prime Minister Shaukat Aziz's visit to New Delhi later this month, India has formally asked Pakistan to remove diesel from its negative list and permit its imports from Gujarat and Haryana through land and sea routes.
Federal Petroleum Minister Mani Shankar Aiyar has in two letters to his Pakistani counterpart Amanullah Khan Jadoon proposed talks on the import of diesel from India and the possibility of laying a trans-Pakistan multi-billion dollar gas pipeline.
SHELL'S FIRST ASPHALT FACILITY IN CHINA TO START PRODUCTION
NANNING - The first asphalt production base of Shell in China is expected to start trial production soon in Qinzhou, south China's Guangxi Zhuang Autonomous Region as the construction of the Sinotrans Guangxi Qinzhou Asphalt Distribution Center is near completion.
The distribution center has been invested jointly by Shell and Sinotrans, and is also the first production facility of Shell in China.
WORLD'S LARGEST SOLAR POWER STATION TO BE BUILT IN S. KOREA
GWANGJU - The world's largest solar power station will be built in South Korea by 2006, a provincial government said Monday.
Representatives from Sun Power & Geothermal Energy Co., a solar systems design company from the United States, and Sharp Electronics Corp. of Japan came to South Korea to map out the final details of the construction of the station in the coastal county of Sinan, some 420 kilometers southwest of Seoul, South Jeolla Province government officials said.
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