Electric utilities
South Korea has announced a comprehensive plan to bolster its position in the global renewable energy market, with a focus on increasing government support, research and development, and streamlining regulations. The Presidential Committee on Green Growth has unveiled a package of measures aimed at promoting the renewable energy sector, including
Petroleum industry
Navajo Wind Energy Corp., formerly Caliber Energy Inc., has signed a significant wind turbine manufacturing supply agreement with an estimated value of $65 million. The agreement is for the delivery and commissioning of 53 750 KW wind turbines to China Lao Gaixian Wind L.P. for its 120.80 MW
Petroleum industry
The National Economic and Development Authority (NEDA) has expressed concerns over the World Bank's suggestion to increase petroleum tax, citing potential negative effects on the Philippine economy. Socioeconomic Planning Secretary Ralph Recto argues that the proposal contradicts the World Bank's own expectations of a weakening economy
Petroleum industry
Concerns over a global outbreak of swine flu are causing market volatility, with Canadian stocks declining for a second day due to a drop in gold and crude oil prices. The S&P/TSX Composite Index fell 0.5%, led by miners and energy producers. Barrick Gold Corp., the
Petroleum industry
China's petrochemical industry achieved a substantial investment milestone in the first quarter of 2009, with a total outlay of 135.38 billion yuan (US$19.8 billion), representing a 22.5% year-on-year increase. However, the growth rate slowed down by 10.9 percentage points compared to the same
Petroleum industry
China's growing demand for natural gas is expected to reach 140 billion cubic meters by 2010, with the country planning to import around 20 billion cubic meters of gas. To meet this increasing demand, PetroChina Co Ltd and another CNPC subsidiary will invest a combined 16 billion yuan
Petroleum industry
Taiwan's government has recognized the efforts of three local power plants and one petroleum refinery in reducing their greenhouse gas (GHG) emissions, certifying them with the International Standards Organization (ISO) 14064-2 standard. The Ministry of Economic Affairs (MOEA) presented the certificates to the Taoyuan refinery owned by CPC
Petroleum industry
China will maintain absolute control over 7 critical industries through state-owned enterprises by 2010, according to a statement by Li Rongrong, Minister of the State-owned Assets Supervision and Administration Commission (SASAC). Li emphasized the need to enhance the competitiveness and controlling capacity of state-owned enterprises, as outlined in the guidelines
Petroleum industry
The National Development and Reform Commission (NDRC) has issued an urgent mandate to cease approval of corn-based processed ethanol projects nationwide. This move reflects the central government's growing concern over the rapid expansion of corn-ethanol production capacity in various regions, which has been criticized for lacking regulation and
Petroleum industry
China is set to invest significantly in its coal chemical industry, with plans to invest over one trillion yuan ($128 billion) in the next 13 years, according to a long-term development plan. The investment aims to develop seven coal chemical bases nationwide, focusing on the production of coal-based oil, dimethyl
Petroleum industry
Radial Energy Inc.'s performance stock continues to attract attention with the company's announcement of a Letter of Intent (LOI) to re-enter two wells in the Llanos basin, one of the most prolific hydrocarbon basins in Colombia. This move could potentially unlock significant oil reserves, with the
Petroleum industry
China has announced tax breaks for importers of oil and gas exploration equipment for onshore and offshore projects, a move aimed at boosting domestic oil and gas production and reducing reliance on foreign imports. The tax breaks will be applicable to importers of equipment for onshore oil and gas production
