Hyundai invests $28 Million in Thailand to build EV batteries and assemble EVs
The Board of Investment of Thailand (BOI), a government agency, announced on Wednesday that Hyundai Motor Company of South Korea will invest one billion baht to build a factory in Thailand to manufacture electric vehicles and battery packs. Thailand's booming EV industry is currently dominated mainly by Chinese automakers. These include BYD Motors and Great Wall Motors.
LNG Bunkering Market to Reach $12bn by 2024
The global LNG bunkering market was valued at approximately USD 397.70 million in 2017 and is expected to generate revenue of around USD 11899.60 million by the end of 2024, growing at a CAGR of around 59.4% between 2018 and 2024.LNG bunkering is experiencing the highest growth rate in developed as well as developing countries, said a report by Zion Market Research.Escalating…
Total, Aramco Sign Deal to Start Jubail Petrochem Engineering Works
French energy group Total and Saudi Aramco signed an agreement on Monday to start engineering studies for the $5 billion construction of a petrochemical complex at the Jubail Satorp refinery on the eastern coast of Saudi Arabia.Start-up of the complex, which will include a mixed-feed cracker with capacity of 1.5 million tons per year of ethylene and related high-added-value petrochemical units, is expected in 2024, the companies said."Satorp's se
Sonatrach, Baker Hughes Form JV
State energy company Sonatrach and Baker Hughes, part of GE (BHGE), will set up a joint venture and build an oil equipment plant in Algeria at a cost of $45 million under a deal signed on Thursday, Sonatrach said. Algeria's Sonatrach will hold a 51 percent stake and BHGE the remaining 49 percent in the project which will be based in Azrew in western Algeria, it said in a statement. The site is due to start production in December 2019.
ABB wins $40 mln South China Power Link Deal
ABB has won an order of over $40 million to provide advanced power equipment to the 800 kilovolt (kV) Dianxibei-Guangdong ultra-high-voltage direct current (UHVDC) transmission link. The project, operated by China Southern Power Grid Company Limited, one of the country’s two major grid operators, is expected to transmit 5,000 megawatts (MW) of power over a distance of more than 1,950 kilometers. The order was booked in the third quarter of 2016.
Britain's First U.S. Shale Gas Arrives in Scotland
Britain's first shale gas delivery from the United States sailed into a heated European political debate on fracking on Tuesday and immediately ran into its first practical problem - the Scottish weather. The huge "Ineos Insight" tanker had entered the Firth of Forth at sunrise, a lone Scots piper playing on its bow, as it headed for the Grangemouth refinery, west of Edinburgh.
Sinopec Gets Nod for Coal-to-Gas Pipeline
China has approved a pipeline to transport synethic gas from coal-to-gas projects in the country's far west to the southern coast, energy giant Sinopec said on Wednesday. The pipeline, which would run 8,400 kilometres (5,200 miles) from the restive region of Xinjiang to the manufacturing hub of Guangdong province, carrying up to 30 billion cubic metres (bcm) gas a year…
Petrobras Reports Record Production
Total production of oil and natural gas from Petrobras, in December 2014, in Brazil and abroad, reached the average of 2 million 863 thousand barrels of oil equivalent per day, the best result reached in the history of the company, Petrobras reported. This volume is 4.4% higher than in November, which was 2 million 741 thousand boe. The company beat, too, in December…
NDRC: China Provinces Will Meet 2015 Energy Targets
Most of China's provinces are ahead of schedule or on track to meet 2015 energy savings targets, the government said on Friday, with Beijing and Shanghai among the frontrunners as the world's No.2 economy seeks to reduce its impact on the environment. China has pledged to reduce its energy intensity - the amount of energy it uses to add a dollar to its gross domestic product (GDP) - to 16 percent below 2010 levels by 2015.
Shell Announces LNG Sales Deal with Chubu Electric
Shell will begin supplying liquefied natural gas (LNG) to one of Japan’s leading electric companies from October 2014, in a deal that reinforces Shell’s position as a key LNG supplier in the country. Shell Eastern Trading (Pte) Ltd, a Singapore-based subsidiary of Royal Dutch Shell, signed a sales and purchase agreement today with Chubu Electric Power Co., Inc. (Chubu Electric) to supply up to 12 cargoes of LNG a year for the next 20 years.
China Inc Joins the Big League in Oil and Gas Services
Global oil companies are increasingly turning to China for services and equipment, attracted by lower costs and a newly acquired expertise that is challenging more established rivals. State-run and privately controlled Chinese rig makers, oil and gas services and engineering firms are showing up in the supply chain everywhere from the Middle East, the North Sea and North America to frontier areas like Mozambique.
