Energy Sector Update: Mergers, Production Boosts, and Expansion Plans

Strategic Insights -

In a notable development for the Asian energy sector, British Petroleum (BP) Amoco and Atlantic Richfield Company (ARCO) announced that they will continue operating in the oil and gas sector in Indonesia following their merger on April 18, 2000. Meanwhile, Pakistan has witnessed a significant increase in oil production, reaching 65,100 barrels per day, while Malaysia's Petronas has gained recognition from its joint venture partners for its achievements in the petroleum industry. In India, a high-powered committee has been constituted to work out a Liquified Natural Gas (LNG) policy, and in Australia, Duke Energy International has purchased a power plant project in Bairnsdale. Additionally, ABB Alstom Power is looking to expand its presence in Australia through clean, green power generation.

Key Takeaways:

  • BP Amoco and ARCO will continue operating in the oil and gas sector in Indonesia following their merger.
  • Pakistan's oil production has increased from 55,128 barrels per day to 65,100 barrels per day, with a corresponding increase in natural gas production.
  • Petronas has earned praise from its joint venture partners for its achievements in the petroleum industry.
  • India's high-powered Committee of Secretaries has been constituted to work out an LNG policy, focusing on financing the supply chain of the fuel.
  • Duke Energy International has purchased a 43 megawatt power plant project in Bairnsdale, Australia.
  • ABB Alstom Power is looking to expand its presence in Australia through clean, green power generation.
  • Petronas aims to attain a leading position in the petrol retail trade in Malaysia by enhancing services at its stations and opening 100 Mesra convenience stores nationwide.

Statistics:

  • Pakistan's oil production has increased from 55,128 barrels per day to 65,100 barrels per day.
  • Natural gas production in Pakistan has increased from 2,100 million cubic feet to 2,295 million cubic feet per day.
  • The 43 megawatt power plant project in Bairnsdale, Australia, will be built and opened in 2001.
  • ABB Alstom Power will change its name to Alstom Power in May after Energy and transport infrastructure group Alstom acquires ABB's 50% share in the company.

Sources:

  • Asia Pulse http://www.asiapulse.com
  • Arab News
  • Business Times
  • DNA (Daily News & Analysis)
  • Gulf Times