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Posts Tagged ‘gas’

R H Energy wins $10.1m contract from Inner Mongolia West Gas Corp.

Mainboard-listed R H Energy says it has been awarded with a US$7.9 million ($10.1 million) contract to provide emergency shutdown valve system to be installed along the 492 km gas pipeline from Changqing gas field to Hohhot, Inner Mongolia.

Wang Hairong, Executive Chairman and founder of the group, says, “We are very privileged to work with our customer, Inner Mongolia West Gas Corporation, on this project which is scheduled to be completed and delivered in the second half of 2011. The repeat order is another endorsement of our track record as a premier service provider in the oil and gas industry in the PRC. Including this latest award, we had been awarded a total of US$16.4 million orders by Inner Mongolia West Gas Corporation.”

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Technics Oil and Gas posts 62% rise in 1Q net profit to to $3.2m

Mainboard-listed Technics Oil and Gas, the full-service integrator of compression systems and process modules for the global offshore oil and gas sector, says net profit attributable to equity holders of the company climbed 62% to $3.21 million for the 3 months ended 31 December 2010 (1QFY2011) from $1.98 million for the 3 months ended 31 December 2009 (1QFY2010).

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Technics Oil & Gas upgraded to Buy by CIMB

CIMB upgrades Technics Oil & Gas (5CQ.SG) to Buy from Hold, raises its target to $1.08 from $0.89 on 10x CY12 P/E (a 20% premium above downstream engineering firms’ 5-year average) and factoring in a 10%-13% increase in earnings estimates for FY11-FY12 on higher order-win projections.

“The premium is justified thanks to Technic’s strong exposure to Vietnam’s oil & gas sector and above peers’ profitability, earnings growth as well as dividend yield.”

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Jan 4: Marco Polo Marine, Technics Oil and Gas, Chemoil, Chosen

Singapore shares may rise on Tuesday after Wall Street climbed overnight in its first session of the year, buoyed by strong U.S. manufacturing data. Singapore’s benchmark Straits Times Index <.FTSTI> rose 1.43% on Monday to 3,235.77 points. Here are some stocks and factors to watch:

Shares of Singapore-listed ship-chartering firm Marco Polo Marine (MAPM.SI) may be in focus after it said on Monday it plans to issue Taiwan depository receipts (TDR) to broaden its investor base.

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Technics wins $23.5m EPCC contract in the Middle East

Mainboard-listed Technics Oil and Gas, one of the leading full service integrators of compression systems and process modules for the global offshore oil and gas sector, today announced that it has been awarded a $23.5 million contract from a Middle East oil & gas company for the engineering, procurement, construction and commissioning (EPCC) of process equipment for early production systems.

With a project duration of eight months, the group will deliver process equipment for early production systems consisting of wellhead manifolds,test separators, three phase separators, gas KO drums, flare KO drums, heater treater, scraper traps, corrugated plate separators, hydrogen sulfide removal module and flare stacks and burners.

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Advanced clinches oil & gas projects worth $12.1m in the region

Advanced Holdings, the global supplier of proprietary process equipment and technologies, clean energy solutions and environmental technologies, today announced that it has clinched new oil & gas contracts worth $12.1 million. All these projects are expected to be completed and delivered in 2011. The projects include design and fabrication of shell and tube heat exchangers in Vietnam as well as fabrication of marine risers to be used by offshore oil rig companies.

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Technics Oil & Gas gets nod from Taiwan Central Bank for TDR issue

Technics Oil & Gas says the company has received approval from the Taiwan Central Bank and in-principle approval to the proposed TDR issue from the GreTai Securities Market of Taiwan. Technics says it will next seek approval from Taiwan Financial Supervisory Commission, Executive Yuan, Securities and Futures Bureau.

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Russia, Ukraine seal gas transit deal

Moscow and Kiev have signed an agreement to guarantee gas transits through Ukrainian territory, Ukrainian Minister of Fuel and Energy Yuriy Boyko said Tuesday. The deal upholds an earlier one between Russia’s gas giant Gazprom and Ukraine’s Naftogaz on the transfer of 112 billion cubic meters of gas annually over the next five years.

“South Stream to stabilize gas supply”

The construction of the South Stream gas pipeline will not only stabilize the supply of gas to Serbia. But it will also open new possibilities for the development of the energy sector and industry in the country and the entire region, Srbijagas General Director Dušan Bajatović has said.

Technics Oil & Gas rated ‘increase exposure’ by SIAS Research

SIAS Research in a Nov 30 research report says: “Technics announced that its 51% owned subsidiary, Norr Systems Pte Ltd was awarded the contract for the turnkey construction of two vessels accompanied with a seven years service contract.

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Pak-Iran gas deal is pipedream


NEW YORK – US Secretary of State Hillary Clinton has described the group of four countries – India, Brazil, Germany and Japan – as a ‘self-appointed frontrunnersÂ’ for a permanent seat in an expanded UN Security Council, according to classified documents released by WikiLeaks.
ClintonÂ’s cable, which was posted by The New York Times, gave directions to US diplomats to collect information on key issues, including the UN Security Council reform, which is stalled because of rivalries between countries and regions as well as difficult UN procedures.
Earlier this month, President Barrack Obama announced support for IndiaÂ’s bid for a permanent seat on the Security Council, which, at present, has five permanent veto-wielding members – Britain, China, France, Russia and the United Nations – and 10 non-permanent members elected for a two-year term. But most analysts said the process could take years.
The cable asked US diplomats to ascertain deliberations regarding the UNSC expansion among key groups of countries like ‘self-appointed frontrunnersÂ’ for permanent UNSC seats (Group of Four or G-4); Uniting for Consensus group – especially Mexico, Italy and Pakistan – that opposes additional permanent UNSC seats; African Group; and European Union, as well as key UN officials within the Secretariat and the UN General Assembly (UNGA) Presidency.
Meanwhile, Turkey kept India out of a meeting on Afghanistan that Ankara sponsored earlier this year to address Pakistan’s ‘sensitivities’, according to US secret documents released by WikiLeaks.
At a meeting with the US Under Secretary of State for Political Affairs, William Burns; Rauf Engin Soysal who then was the TurkeyÂ’s Deputy Under-Secretary for Bilateral Political Affairs responsible for the Middle East, South Asia and Africa; said Turkey had not invited India to the Afghan neighbours summit in deference to PakistanÂ’s sensitivities.
President Asif Ali Zardari and Afghan President Hamid Karzai met in Istanbul for a Turkish-sponsored talks to discuss cooperation against extremists in Afghanistan earlier this year.
“He (Soysal) said Turkey had not invited India to the neighbours summit in deference to Pakistani sensitivities; however, he said, Pakistan understands attempting to exclude India from the nascent South Asian regional structures would be a mistake,” says the confidential State Department cable dated February 25, 2010.
Soysal, a former Turkish Ambassador to the Pakistan from 2007 to 2009, and his countryÂ’s Special Representative for Afghanistan and Pakistan in September was appointment by the UN Secretary General, Ban Ki-moon, as the Special Envoy for Assistance to Pakistan.
“He (Soysal) reported Indian Prime Minister (Manmohan) Singh had requested (Turkish) President (Abdullah) Gul’s assistance with Pakistan during the latter’s visit to New Delhi the previous week.
Acting on that request, President Gul had phoned Pakistani President Zardari, who was sceptical of Indian intentions.
“Gul is planning to visit Pakistan later this year,” the cable said.
“Soysal said Iran is proposing a quadrilateral summit, which would include Turkey, Afghanistan and Pakistan, but that proposal had yet to generate enthusiasm,” it said.
Meanwhile, top Israeli and American officials discussed the impact of the possible downfall of then President Pervez Musharraf in August 2007 in a meeting on US efforts to reduce tensions between India and Pakistan, according to a State Department cable leaked by WikiLeaks.
The cable contained record of the meeting between Under Secretary of State for Political Affairs Nicholas Burns and Meir Dagan, then chief of Israeli spy agency Mossad on a wide range of issues, including the situation in South Asia.
The leaked cable shows Burns detailed US efforts to reduce tensions between India and Pakistan after the Mossad chief alerted the US about MusharrafÂ’s possible downfall.
“Dagan said that President Musharraf is losing control, and that some of his coalition partners could threaten him in the future. The key question, Dagan said, is whether Musharraf retains his commander-in-chief role in addition to his role as president,” the cable reported.
“If not, he will have problems. Dagan observed that there has been an increase in the number of attempts on Musharraf’s life, and wondered whether he will survive the next few years,” it said.
“Under Secretary Burns replied that South Asia has assumed vital importance in American foreign policy since September 11.”
“The US is committed to denying Afghanistan as a safe-haven for Taliban and Al Qaeda activity. The US (government) will continue to support Pakistani President Musharraf, and is seeking to boost his military defensive capabilities.”
Agencies add: According to the revelations made by the WikiLeaks, the crown prince of Abu Dhabi described President Asif Ali Zardari as ‘dirty but not dangerous’ and former prime minister Nawaz Sharif as ‘dangerous but not dirty’.
The revelation is part of a massive dump of more than 250,000 diplomatic cables by the Website WikiLeaks.
The cables provide candid and at times critical views of foreign leaders as well as sensitive information on terrorism and nuclear proliferation filed by US diplomats.
In July 2009, Abu Dhabi Crown Prince Mohammed bin Zayed, Deputy Supreme Commander of the UAE Armed Forces and de facto defence chief, said Zardari was ‘dirty but not dangerousÂ’. Former prime minister Nawaz Sharif was ‘dangerous but not dirty – this is PakistanÂ’. He said Nawaz Sharif, who heads the main opposition party to Zardari, could not be trusted to honour his promises.
According to leaks, a rail link between Iran and Pakistan would be delayed for the foreseeable future because of unrest from Baloch nationalists in both countries.
Likewise, a natural gas pipeline agreement between Iran and Pakistan, signed with great fanfare earlier this year, is unlikely to bear fruit anytime soon because ‘the Pakistanis don’t have the money to pay for either the pipeline, or the gas’.
Meanwhile, US intelligence believes Iran has obtained advanced missiles from North Korea that could strike Europe. The documents also show frustration among US diplomats who have been pressing for China to block shipments of missile parts from North Korea to Iran, BritainÂ’s Guardian newspaper reported.
US diplomatic cables include remarks from a source in 2009 saying that Iranian Supreme Leader Ayatollah Ali Khamenei has terminal cancer. The source, a non-Iranian businessman based in Central Asia and travelling often to Tehran, “has learned from one of his contacts that (former president Ali Akbar) Rafsanjani told him Khamenei has terminal stage leukemia and could die in a few months”, according to an August 2009 cable. The document says that Rafsanjani, a critic of Iranian President Mahmoud Ahmadinejad who has expressed sympathies with Iran’s reformist movement, decided on learning of Khamenei’s illness to start preparing himself to be a successor.
Leaked documents also revealed how US officials were ordered its officials to spy on the UN leadership. Britain’s Guardian newspaper said a State Department directive sent in July sought intelligence on UN Secretary General Ban Ki-moon’s ‘management and decision-making style’.
The government also asked for credit card numbers, email addresses, phone, fax and pager numbers and even frequent-flyer account numbers for UN officials, the daily added.
Israel discussed its planned war on Gaza with the Palestinian leadership and Egypt ahead of time, offering to hand them control of the strip if it defeated Hamas, US documents released by WikiLeaks showed.
The attempt to coordinate its devastating offensive against GazaÂ’s Islamist rulers was revealed by Israeli Defence Minister Ehud Barak whose remarks were included in a telegram sent in June 2009 by then deputy US ambassador Luis Moreno.
“He explained that the GOI (government of Israel) had consulted with Egypt and Fatah prior to Operation Cast Lead, asking if they were willing to assume control of Gaza once Israel defeated Hamas,” he said, referring to the Fatah party of Palestinian president Mahmud Abbas.

Natural Gas Innovation Wins Intel Entrepreneurial Award

Intel Foundation Awards $25,000 to Winning Team

 

NEWS HIGHLIGHTS:

  • OsComp Systems of the Dominican Republic won the 2010 Intel+UC Berkeley Technology Entrepreneurship Challenge, receiving a $25,000 award from the Intel Foundation.
  • OsComp Systems invented a breakthrough technology with the potential to significantly reduce costs in the natural gas supply chain.
  • Other top-placing teams were Magoosh, which created a personalized academic test preparation technology, and ADTELLIGENCE for its advertising targeting platform for the social web.

 

 

BERKELEY, Calif., Nov. 18, 2010 – OsComp Systems of Pontificia Universidad Católica Madre y Maestra in the Dominican Republic has won the 6th Annual Intel+UC Berkeley Technology Entrepreneurship Challenge, which seeks to support and promote entrepreneurship globally. The team of entrepreneurs won for inventing a breakthrough, patent-pending technology that could reduce operating and capital costs for natural gas compression by more than 30 percent. The Intel Foundation awarded the winning team the top prize of $25,000.

 

Second place was awarded to Magoosh of the University of California, Berkeley, for its personalized academic test preparation technology that allows students to learn through short-form videos that deliver content according to each student’s strengths and weaknesses. Third place went to ADTELLIGENCE of the University of Mannheim in Germany for its advertising targeting platform for the social web, which enables advertisers to precisely target their campaigns and increase online shop revenues using real data from social network users or single sign-on services such as Facebook, Connect and Open Social.

 

“For more than four decades Intel has been a leader in innovation,” said Wendy Hawkins, executive director of the Intel Foundation. “From this, we’ve found that some of the best ideas are still out there, in the minds of today’s students. By helping these ideas grow, we are fostering students, such as those present at this competition, to have a positive impact on society, which will in turn help strengthen the future global economy.”

 

The competition, held at the Haas School of Business at UC Berkeley, drew 27 teams from 19 countries. Founded in 2005, the Intel+UC Berkeley Technology Entrepreneurship Challenge is a joint project of the Intel Foundation and the UC Berkeley Lester Center for Entrepreneurship & Innovation that is designed to motivate young entrepreneurs to develop innovative technologies that solve real world challenges, build viable business models, and move that technology out of university labs and into the market.

 

This year, the finalist teams presented business plans that reflect groundbreaking work in such fields as technology, environment, healthcare and education. These plans include solutions for alternative energy, waste management, early detection of breast cancer, food-borne diseases, online education and human computer interaction technology. Representatives of more than 20 leading venture capital firms from the San Francisco Bay Area served as judges of the competition and provided valuable feedback to the teams.

 

In addition to today’s awards ceremony, Intel launched a People’s Choice Awards Contest for the public to vote for their favorite team of young entrepreneurs who participated in this week’s competition. Visit www.inspiredbyeducation.com/vote to learn more and vote.

 

About the Intel Education Initiative
Over the past decade alone, Intel has invested more than $1 billion, and its employees have donated close to 3 million hours toward improving education more than 60 countries. To learn more, visit www.intel.com/newsroom/education. To join Intel’s community of people sharing their stories with the hope of becoming a catalyst for action and a voice for change in global education, visit www.inspiredbyeducation.com. To view ongoing updates, join the Facebook group at www.facebook.com/InspiredByEducation and follow Twitter updates at www.twitter.com/intelinspire.

 

About Intel
Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world’s computing devices. Additional information about Intel is available at newsroom.intel.com and blogs.intel.com.

 

About UC Berkeley’s Haas School of Business
For more than 100 years, the Haas School of Business at the University of California, Berkeley, has offered a superb management education to outstanding men and women from around the world. The school is one of the world’s leading producers of new ideas and knowledge for all areas of business, and a launching point for many new businesses.

 

The school’s Lester Center for Entrepreneurship and Innovation is an internationally recognized program and the primary locus at Berkeley for the study and promotion of entrepreneurship and new enterprise development.

 

Intel and the Intel logo are trademarks of Intel Corporation in the United States and other countries.

 

* Other names and brands may be claimed as the property of others.

Russia, Bulgaria set up South Stream JV

Russia’s gas giant Gazprom signed a deal with Bulgarian Energy Holding (BEH) on establishing a South Stream Bulgaria AD joint venture, RIA Novosti reports. The company will oversee the construction of the Bulgarian section of the South Stream pipeline.

CitySpring Infrastructure Trust announces DPU of 1.05 cents for 2Q

CitySpring Infrastructure Trust has declared a distribution per unit (DPU) of 1.05 cents for the quarter on the back of cash earnings of $23.1 million for the three months ended 30 September 2010 (2Q FY11). This included contributions from City Gas, the SingSpring desalination plant and the Basslink electricity interconnector and telecoms businesses.

As the sole producer and retailer of town gas in Singapore, City Gas achieved cash earnings of $13.1 million, continuing to benefit from the strength of Singapore’s food and beverage industry. The year-on-year improvement was also partly attributed to the mis-match between City Gas’ fuel costs and tariffs. Over time, its tariff setting mechanism is designed to ensure that it is not affected by changes in fuel costs.

The Trust’s water desalination plant, SingSpring, continued to achieve 100% availability. It recorded cash earnings of $4.7 million, unchanged from the same period last year. This reflects the stability of its long-term offtake contract with the Public Utilities Board of Singapore.

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Singapore plans third LNG tank as BG signs supply deal: Update

Singapore may add a third liquefied natural gas storage facility to a proposed import terminal after BG Group Plc signed additional supply contracts with local companies, the operator of the port said.

BG will supply 2 million metric tons a year of the fuel to utilities and may boost sales further as power plants switch to gas, said Neil McGregor, chief executive officer of Singapore LNG Corp., which will operate the 3.5 million tons a year terminal. The third tank may increase options for sales to China and other Asian buyers, he said.

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Singapore plans third LNG tank as BG signs supply deal

Singapore may add a third liquefied natural gas storage facility to a proposed import terminal after BG Group Plc signed additional supply contracts with local companies, the operator of the port said.

BG will supply 2 million metric tons a year of the fuel to utilities and may boost sales further as power plants switch to gas, said Neil McGregor, chief executive officer of Singapore LNG Corp., which will operate the 3.5 million tons a year terminal. The third tank may increase options for sales to China and other Asian buyers, he said.

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Advanced clinches oil & gas projects in China and the Middle East worth $11m

Advanced Holdings, the global supplier of proprietary process equipment and technologies, clean energy solutions and environmental technologies, says it has successfully clinched new oil & gas contracts for the supply of process analyser packages worth $11 million in China and the Middle East.

In China, the process analyser packages will be supplied to subsidiaries of US-based multinational energy giant Chevron Corporation, Sinopec and Petrochina.

In the Middle East, the supply is for Saudi Aramco Total Refining and Petrochemical Company, a joint venture between two world oil majors, Saudi Aramco and Total. All these projects are expected to complete in 2011.

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Gazprom may join TAPI pipeline

Russian gas giant Gazprom may participate in a consortium to build the trans-Afghanistan (TAPI) gas pipeline, RIA Novosti reports. The pipeline will transfer Turkmen gas to Pakistan and India. Deputy Prime Minister Igor Sechin said on Friday.

Gazprom looks to include Romania in S. Stream

Russia’s Gazprom is looking at possibilities of including Romania in the route of its South Stream natural gas pipeline. According to reports, the oil and gas giant signed an agreement with Romania’s Transgaz in order to study the possible construction through the country.

Appro Unveils HPC Offerings for Financials Services, Oil and Gas Industries

Appro is rolling out new Intel-powered high-performance computing offerings aimed at the financial services and oil and gas industries. – Appro is expanding its supercomputing hardware portfolio with offerings
targeting the high-frequency trading space and oil and gas market.
Appro on Oct. 12 unveiled the dual-socket HF1 server, which
includes overclocked Intel Xeon 5600 quot;Westmere quot; processors and a
liquid-cooling system …