Petroleum industry
Vietnam's southern province of Binh Thuan is poised to unlock significant economic growth through the exploitation of its oil and gas resources. The province has already begun extracting oil and gas from several fields, including Hong Ngoc, Rang Dong, and Su Tu Den, approximately 60 km from the
Petroleum industry
President Roh Moo-hyun stressed the importance of Russia's role in resolving the six-party talks to persuade North Korea to abandon its nuclear programs, highlighting the country's capacity to establish a peace regime in Northeast Asia. Roh's visit to Moscow was marked by discussions on
Petroleum industry
Advances in fuel and engine technologies hold promise to significantly improve vehicle efficiency by 2030, with experts predicting a potential 70% improvement in light-duty vehicle efficiency. However, the transition to cleaner energy products faces challenges, including high costs and consumer hesitation. Despite these hurdles, energy companies continue to work on
Petroleum industry
Exxon Mobil Corporation has announced that technological advancements, rather than emissions reduction goals, are crucial for addressing global climate change caused by greenhouse gases. World energy demand is projected to increase by 40% by 2020, with the majority coming from developing countries outside the Kyoto Protocol. Renewable energy sources, such
Petroleum industry
BHP Billiton has chosen a preferred site for a proposed Liquefied Natural Gas (LNG) plant in the Pilbara region of Western Australia, as part of its pre-feasibility study into the development of the Scarborough gas resource. The site, located about 4.5km southwest of Onslow, northwest Western Australia, was selected
Petroleum industry
China's petrochemical industry realized a remarkable 26.8% year-on-year growth in industrial output value in July, reaching 205.8 billion yuan. This growth has brought the first seven-month total to 1.36826 trillion yuan, a 27.4% increase over the same period last year. The industry's
Petroleum industry
Airlines around the world, including Qantas Airways Ltd, are increasing fuel surcharges as the high price of oil puts pressure on economies worldwide, particularly the aviation industry. Qantas raised its fuel surcharge on domestic and international tickets, citing the high price of oil. The move is expected to affect demand
Petroleum industry
Japanese oil corporations, Nippon Oil Corp., Idemitsu Kosan Co., and four other oil wholesalers, have partnered to test ethanol-added gasoline distribution at six gas stations across the country. The tests are part of the government's effort to combat global warming and are conducted on behalf of the Ministry
Petroleum industry
JGC Corp. has secured a significant contract, worth over 100 billion yen (approximately $902.6 million), in partnership with three major engineering companies from the U.S. and Europe to build a large liquefied natural gas (LNG) plant in Nigeria. The plant, scheduled to begin operations in 2007, will have
Petroleum industry
GAIL India Ltd, a state-owned company, has agreed in principle to invest Rs 1.5 billion in Haldia Petrochemicals Ltd, a move that comes as part of the Corporate Debt Restructuring (CDR) package. This decision was reached after a meeting between West Bengal Chief Minister Buddhadev Bhattacharjee, GAIL Chairman Prasanta
Petroleum industry
To encourage businesses and consumers to save energy, Japan's Ministry of Environment is planning to introduce an environmental tax on the end users of fossil fuels. The tax, with a rate of slightly more than 1 yen per liter of gasoline, aims to finance energy-saving policies and reduce
Petroleum industry
China's automotive industry is expected to reach a significant milestone in 2005, with the country forecasted to manufacture five million motor vehicles this year, representing a 13% increase over the previous year. The Ministry of Commerce released a report predicting a balanced energy supply and demand, with prices
