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MARKETS: IEA says six Saudi Arabias or 64 mb/d of new capacity needed to meet oil demand in 2030
Tuesday, 18 November 2008

(EnergyAsia, November 18, Tuesday) --- The world will need 64 million b/d of new production, the

 
INDIA: Alstom and Bharat Forge to jointly manufacture power plant equipment
Tuesday, 18 November 2008

(EnergyAsia, November 18, Tuesday) --- France’s Alstom and Bharat Forge Ltd, an India-based leader

 
DUBAI: Dubai Mercantile Exchange to list oil products with CME Group
Tuesday, 18 November 2008

(EnergyAsia, November 18, Tuesday) --- CME Group, the world’s largest futures exchange, and the

 
COMPANY: Vopak says Q3 operating profit excluding exceptional items up 18% to 80.8 million euro
Tuesday, 18 November 2008

(EnergyAsia, November 18, Tuesday) --- Dutch oil and chemical logistics giant Royal Vopak said its

 
MARKETS: Study group blames oil spike for popping US housing bubble, leading to financial crisis
Tuesday, 18 November 2008

(EnergyAsia, November 18, Tuesday) --- The oil spike of 2008 was the final straw that broke the

 
MALAYSIA: Intertanko lauds “high level” support for shipping symposium on November 24
Tuesday, 18 November 2008

(EnergyAsia, November 18, Tuesday) --- More than 200 delegates, including ship-owners and operators, are expected to attend the International Symposium on Safety and Protection of the Marine Environment in the Straits of Malacca and Singapore in Kuala Lumpur, Malaysia, on November 24.

The symposium is being organised by The Nippon Foundation and the Round Table of international shipping associations – BIMCO, International Chamber of Shipping (ICS) INTERCARGO, and INTERTANKO – the first time that the shipping industry has come together in this way as direct users of the straits.

The governments of Indonesia, Malaysia and Singapore – the littoral states – have welcomed this initiative, as has the International Maritime Organisation (IMO).

The main objective of the symposium will be to discuss current positive developments in support of safety of navigation and protection of the marine environment in the straits, such as the Co-operative Mechanism established by the littoral states last year, and the Aids to Navigation Fund, a voluntary fund set up in April to protect the future of the straits.

Yohei Sasakawa, chairman of The Nippon Foundation, which campaigns for global maritime safety, said: “The symposium is being held in recognition of the importance of the Straits in terms of sustainable utilisation of the seas and sustainable development of the world economy. Future success depends on all stakeholders working together in a spirit of mutual co-operation and corporate social responsibility.

“This is a notable ‘first’ for the shipping industry and a significant step forward for the security of the straits.”

The Nippon Foundation has already contributed to the Aids to Navigation Fund, as have MENAS, UAE and the South Korean government.

Mr Sasakawa will be making a keynote address during the opening session of the symposium.

Also speaking are Ong Tee Keat, Malaysia’s Minister of Transport, on behalf of the littoral states, and Spyros Polemis, chairman of ICS, for the organisers. The event will feature presentations by experts drawn from the littoral states, governments, industry and academia.

The Straits of Malacca and Singapore rank as one of the busiest in the world, with transiting ships carrying around one third of the world’s oil supplies and half of world trade.

The Nippon Foundation is a private, non-profit foundation established in 1962. Its objectives include assistance for humanitarian activities, both at home and abroad, and global maritime development. Its philanthropic ideals embrace social development and self-sufficiency, and it pursues these principles by working to improve public health and education, alleviate poverty, eliminate hunger and help the disabled.

For over 40 years, The Nippon Foundation has given more than US$125.5 million towards the enhancement of safety, security and environmental protection in the Straits of Malacca and Singapore.

The International Maritime Organisation (IMO) is a specialised agency of the UN with 167 member states and three associate members, and based in the UK with around 300 international staff. Its main task has been to develop and maintain a comprehensive regulatory framework for shipping and its remit today includes safety, environmental concerns, legal matters, technical co-operation, maritime security, and the efficiency of shipping.

The 1982 UN Convention on the Law of the Sea (UNCLOS) is an international agreement governing all aspects of ocean space, such as delimitation, environmental control, marine scientific research, economic and commercial activities, transfer of technology and the settlement of disputes relating to ocean matters.. It was signed on December 10, 1982 after 14 years of negotiations to which more than 150 countries representing all regions of the world participated. The convention entered into force on November 16, 1994. As of today the convention is ratified by 155 States.

 
PAKISTAN: Wärtsilä awarded major operations and maintenance contract
Tuesday, 18 November 2008

(EnergyAsia, November 18, Tuesday) --- Finland’s Wärtsilä Corp said it has been awarded a contract

 
AZERBAIJAN: IIham Aliyev strengthens grip
Tuesday, 18 November 2008

(EnergyAsia, November 18, Tuesday) --- Fresh from his re-election as President last month, Ilham

 
AZERBAIJAN: Political shift underway to favour Russia and Iran
Tuesday, 18 November 2008

(EnergyAsia, November 18, Tuesday) --- Azerbaijan, an increasingly important oil producing nation in

 
CHINA: CNOOC gets okay for oil terminal
Tuesday, 18 November 2008

(EnergyAsia, November 18, Tuesday) --- China National Offshore Oil Corp (CNOCC), the country’s

 
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