Asia/Pacific
China adjusts fee for foreign JV energy projects
Foreign joint ventures involved in oil and gas production in China will now be charged a compensation fee calculated on production value rather than volume. China first levied a fee on foreign joint ventures based on production volume in 1990. However, it suspended the fee in November 2011.
Korea's Kepco signs $3.4bn LNG deal with Vitol
Korea Midland Power said Monday that it has struck a $3.4 billion deal with Switzerland's Vitol SA to buy liquefied natural gas (LNG) under a long-term contract. The power-generating unit of Korea Electric Power Corp., known as Komipo, will buy 400,000 tpy of LNG from Vitol from 2015 to 2024.
Praxair to supply gases to Trina Solar plant in China
Praxair China has won a new contract with Changzhou Trina Solar Energy Co. to supply silane, ammonia, argon, nitrogen and oxygen to Trina Solar’s new production facility in Changzhou, Jiangsu Province. Praxair will deliver silane in tube trailers, contributing reliability, safety and flexibility in product supply.
Crane launches Chinese website for energy flow solutions business
CRANE Energy Flow Solutions, a global provider of highly-engineered fluid handling solutions, this week launched its Chinese website module. “The introduction of our website content in Chinese represents CRANE’s commitment to customer service and satisfaction,” said Pines Wang with CRANE China.
PetroChina in talks with Shell, Hess about shale oil joint venture
PetroChina, China's largest energy producer, is in talks with Royal Dutch Shell and Hess Corp. about forming a joint venture to develop shale oil in the Santanghu Basin in northwestern Xinjiang province. China had an estimated 354 billion bbl of shale oil resources as of 2008, the World Energy Council said.
Crane launches Chinese website for energy flow solutions business
CRANE Energy Flow Solutions, a global provider of highly-engineered fluid handling solutions, this week launched its Chinese website module. “The introduction of our website content in Chinese represents CRANE’s commitment to customer service and satisfaction,” said Pines Wang with CRANE China.
Rockwood opens surface treatment plant in India, targets automotive industry
Chemetall Surface Treatment, the global metal surface treatment business of Rockwood, has invested in a new state-of-the-art production plant in Chennai, India, in response to rising demand for local products. The design and construction of the plant set new benchmarks in safety and quality, the company said.
RPM buys Australian automotive, specialty coatings company HiChem
RPM International has acquired HiChem Paint Technologies, a leading Australian manufacturer of automotive aftermarket coatings, as well as specialty coatings for industrial applications and home maintenance. HiChem has annual sales of approximately $23 million.
BP, Statoil intrigued by Trans-Anatolian gas pipeline
UK oil major BP and Norway's Statoil are interested in joining the Trans-Anatolian pipeline project to carry Central Asian natural gas across Turkey to Europe. A BP spokesman said it had been asked by Socar whether it might be interested in taking a share in the project and that it is "considering the proposal."
Fluor to design Petronas LNG terminal in Malaysia
Fluor was awarded a contract by Petronas to provide front-end engineering and design (FEED) services for a new liquefied natural gas (LNG) regasification terminal in Malaysia. Fluor booked the undisclosed contract value in the first quarter of 2012. Financial terms were not disclosed.
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