Petroleum industry
Shanghai Electric Group Co. Ltd and Siemens of Germany have formed a joint venture in Shanghai to manufacture key parts of heavy-duty gas turbines, highlighting the increasing competition among power plant equipment market giants in China. With an investment of 55 million euros (US$72 million), the joint venture will
Petroleum industry
Credit Suisse First Boston, a global brokerage firm, has increased its earnings estimates for Chinese oil and gas giants PetroChina Co. and CNOOC Ltd. The firm's analysts, Prashant Gokhale and Edwin Pang, attribute the rise in oil prices to increasing demand, which is expected to continue in the
Petroleum industry
GAIL (India) Limited is executing the Dahej-Uran High-pressure cross-country pipeline project to transport and distribute regasified LNG/NG from Dahej in Gujarat to Uran in Maharashtra via Hazira. The main trunk line from Dahej to Panvel will be 30'' in diameter, and the Panvel-Uran section will be 24&
Petroleum industry
South Korea has secured significant shipbuilding orders from the Exxon Mobil-Qatar Petroleum joint venture, solidifying its reputation as the world's largest shipbuilding nation. Hyundai Heavy Industries Co. and Samsung Heavy Industries Co. have been awarded contracts to build four liquefied natural gas (LNG) carriers, with options to build
Petroleum industry
Asahi Kasei Corp. has released its financial results for the fiscal first half, revealing a significant surge in group operating profit. The company's strong performance is attributed to the growth in higher-value-added products and price hikes in response to higher material prices, as well as the favorable performance
Petroleum industry
Petronet LNG Ltd (PLL) has cleared the setting up of a Rs 20 billion (US$440.7 million) liquefied natural gas (LNG) terminal at Kochi in Kerala, India. The terminal was planned five years ago but work could not begin due to uncertainty over the state's demand for
Petroleum industry
Perth-based Woodside Petroleum Ltd (ASX: WPL) has announced plans to develop a liquified natural gas (LNG) import terminal off the coast of California. Under a heads of agreement with Crystal Energy LLC, Woodside will provide technical expertise and operate the Clearwater Port in exchange for preferential access rights to the
Petroleum industry
The South Korean economy, once expected to reach a 5% growth rate, now faces a revised forecast of 3.6% next year, according to Citigroup Global Markets Inc. The recent surge in oil prices, a sharp increase of over $10 per barrel in West Texas Intermediate (WTI) and Brent oil
Petroleum industry
The Kumho Asiana Group, one of South Korea's largest conglomerates, has achieved a significant milestone in its quarterly earnings, with a record net profit of 178.2 billion won (US$155 million) in the three months ended September 30. The group's strong performance is attributed to
Petroleum industry
A pressing need for better fuel management tools in the airline industry has led to a strategic alliance between SolArc Inc. and BearingPoint Inc. to offer a fuel management solution for the aviation industry through the International Air Transport Association (IATA). The solution, called FuelCenter, will provide airlines with access
Petroleum industry
Taiwan is grappling with the consequences of high energy prices, with government officials and economists warning that the impact on the country's economic activities and people's livelihoods could be significant. The price of oil has reached a 21-year high on the New York Mercantile Exchange, while
Petroleum industry
Taipei's Economic Affairs Ministry is taking a cautious approach to addressing rising commodity prices, with Vice Minister Chen Ruey-long announcing that water and electricity prices will not increase in the short term. This move aims to mitigate price hikes in other industries and calm public concerns about inflation.
