Petroleum industry
A $1.2 billion gas pipeline project from East Kalimantan to Central Java is facing significant economic challenges due to the limited gas reserves available for transportation. According to a study by government officials, the project's feasibility relies heavily on the cancellation of contracts with foreign buyers of
Petroleum industry
The Vietnamese government has introduced a new import tariff of 5 per cent on lead and non-lead gas, aviation fuel, naptha, reformatic, solven, and petroleum add-ons, effective from Monday. This move aims to ease the subsidy burden for domestic fuel use, which has been exacerbated by the recent decline in
Petroleum industry
China's petroleum and chemical industries have experienced brisk production and sales in the first three quarters of this year, with product price hikes and increased efficiency. However, the pace of growth is expected to slow down due to dropped market demand and increasing trade barriers. The expected slowdown
Petroleum industry
China's major state-owned electricity, coal, and oil and petrochemical companies have reported slower profit growth in the first nine months of this year, according to figures released by the State-Owned Assets Supervision and Administration Commission. Despite significant increases in revenue, the growth rate of profit for these companies
Petroleum industry
Despite record-high petrol prices, Victoria's tourism industry has shown a moderate improvement in trading conditions over the past 12 months. A survey by the Victorian Tourism Industry Council (VTIC) found that 49% of respondents rated rising petrol prices as having a critical-to-moderate effect on costs, while 45% said
Petroleum industry
The $22 billion deal between India and Iran to import 5 million tonnes of liquefied natural gas (LNG) faces significant delays due to the refusal of US-based companies to supply crucial equipment. General Electric (GE) and Linde, two major US companies, have declined to supply compressors and liquefaction technology to
Petroleum industry
The Philippines has immense potential to become a major global supplier of natural gas, according to a latest report by New York-based investment bank Morgan Stanley. The country's abundant natural gas reserves, coupled with its limited crude oil reserves, make it an attractive opportunity for the development of
Petroleum industry
South Korea's national association of drugstores, the Korean Pharmaceutical Association, is calling on credit card companies to reduce their interchange fees, which they claim are "unduly high." This demand follows similar requests from gas stations, restaurants, and other merchants, who argue that the excessive fees are
Petroleum industry
The Shaw Group Inc. has finalized a contract worth approximately $900 million with Eastern Petrochemical Co., also known as SHARQ, for the engineering, procurement, construction, and commissioning of a 1.3 million metric tons-per-year ethylene plant in Al-Jubail, Saudi Arabia. The plant, expected to be completed in the first quarter
Energy industries
Green Mountain Energy Company, a pioneer in competitive energy markets, has announced the launch of a new renewable energy product for its Pennsylvania customers. This innovative move comes as the company decides to discontinue electric generation service to approximately 30,000 residential and commercial customers in the state. The new
Energy industries
Philippine President Gloria Macapagal-Arroyo has called on local government units (LGUs) to support the government's energy conservation program by taking initiatives to reduce the use of imported oil. She made the appeal at the 14th anniversary of the Local Government Code and the launching of the "Kilos
Petroleum industry
Wentworth Energy, a small-cap oil and gas company, is gaining market share as it acquires profitable production leases and re-activates non-producing wells. The company's strategic move is expected to boost production and ultimately impact its bottom line. Meanwhile, major energy players such as Chevron, ConocoPhillips, and PetroChina are
