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Tag Archives: OIL

Trina Solar Announces Results of 2014 Annual General Meeting of Shareholders

CHANGZHOU, China, August 29, 2014 /PRNewswire/ -- Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a global leader in photovoltaic (PV) modules, solutions and services, announced today that it held its 2014 annual general me...

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2014 Inter Lubric China: 15th Anniversary, A New Start for Us

SHANGHAI, Aug. 29, 2014 /PRNewswire/ -- With its successful conclusion in Guangzhou in 2013, Inter Lubric China is heralding its 15 years anniversary. The 15th China International Lubricants and Technology Exhibition (Inter Lubric China) wil...

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Sasol, EDM Inaugurate New Gas-to-Power Plant in Mozambique

RESSANO GARCIA, Mozambique, Aug. 29, 2014 /PRNewswire/ --

Earlier today, the President of the Republic of Mozambique, Armando Guebuza, and the Mozambican Minister of Energy, Salvador Namburete, joined the chairman of the Mozambican state power utility, Electridade de Mozambique (EDM), Augusto Fernando de Sousa and the President and CEO of Sasol, David Constable, at the inauguration of Central Termica de Ressano Garcia (CTRG).

The CTRG power plant, which is a partnership between EDM (51%) and Sasol (49%), represents Mozambique's first permanent large-scale gas-to-power facility in Ressano Garcia, which is on the border between Mozambique and South Africa.

Natural gas will be supplied to the new power plant from the Sasol-operated central processing facility (CPF) in Temane in the Inhambane province. Together with its partners, Sasol has expended approximately US$3 billion in capital investments, which include the development and expansion of the CPF and natural gas fields in Southern Mozambique, the construction of a cross-border pipeline, and the completion of the CTRG gas-to-power project.

The 175MW gas-fired power plant will supply electricity to more than two million Mozambicans - this equates to 23% of the country's current demand. The Mozambican economy is one of the fastest growing on the African continent, and is seeing electricity demand increasing by approximately 14% annually.

The opening of the CTRG power facility comes as Sasol celebrates its 10th anniversary of developing the Temane and Pande stranded gas fields in Mozambique, through strong in-country partnerships and its technical expertise. The company's investments over the past decade have contributed to the creation of a favourable investment climate for Mozambique, while establishing an exploration and natural gas production sector in the region. These investments also serve to support economic growth and development in both Mozambique and South Africa.

Sasol President and CEO, David Constable said, "By working together with our Mozambican and South African partners, we are well-placed to unlock the ultimate potential of Mozambique's hydrocarbon resources in an integrated and sustainable manner, which will benefit not only the country but the broader region."

EDM Chairman Augusto Fernando de Sousa commented, "Despite Mozambique's extensive hydrocarbon resources, EDM is currently experiencing an electricity deficit which necessitates importing power. CTRG will help enhance the country's energy self-sufficiency and will also help to diversify our energy base."

The gas-fired power plant is expected to reach beneficial operation in October this year.

About Sasol:

Committed to excellence in all we do, Sasol is an international integrated energy and chemical company that leverages the talent and expertise of our more than 33 000 people working in 37 countries. We develop and commercialise technologies, and build and operate world-scale facilities to produce a range of product streams, including liquid fuels, high-value chemicals and low-carbon electricity.

While remaining committed to our home-base of South Africa, Sasol is expanding internationally based on a unique value proposition.

Issued by: 

Alex Anderson, Head of Group Media Relations
Direct telephone +27-(11)441-3295
Mobile +27-(0)71-600-9605
alex.anderson@sasol.com

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Steady Development with Solid Performance in 1H 2014

HONG KONG, Aug. 28, 2014 /PRNewswire/ -- CNOOC Limited (the "Company", NYSE: CEO, SEHK: 00883, TSX: CNU) today announced its interim results for the six months ended June 30, 2014.

For the first half of the year, the Company's total net oil and gas production reached 211.6 million barrels of oil equivalent (BOE), up 6.8% year-on-year (yoy), with 36.3 million BOE contributed by Nexen.

The Company's average realized oil price was US$106.30 per barrel in the first half of 2014, representing an increase of 2.0% yoy, while average realized gas price rose 13.5% yoy to US$6.44 per thousand cubic feet.

Benefited from the growth of net oil and gas production and increase in realized oil and gas prices, the Company recorded RMB117.1 billion in oil and gas sales revenue, a yoy increase of 5.7%; meanwhile, net profit fell 2.3% yoy to RMB33.59 billion.

In the first half of 2014, the Company's all-in cost was US$43.20 per BOE, up slightly by 2.0 % yoy, while operating cost was US$11.78 per BOE, up 7.0 % yoy, mainly attributable to the consolidation of two more months of Nexen's performance.

In the area of exploration, the Company made 9 new discoveries and 23 successful appraisal wells. Among them, Lingshui 17-2, discovered by "Haiyangshiyou 981", was successfully tested and is expected to become the first large-sized deepwater gas field made by our independent exploration activities. While Luda 16-3 South structure is expected to become a mid-sized discovery after appraisal, Kenli 16-1 structure uncovers the good exploration potential of southern slope of Laizhou Bay Sag in Bohai. Kenli 3-2 oilfields, Panyu10-2/5/8 project and Wenchang 13-6 oilfield have commenced production within the year as scheduled while other projects are progressing accordingly.

During the period, the Company continued to advance the integration of Nexen, especially in the areas of management, resources development and corporate culture. Nexen's safety and environmental protection achieved best performance in its history in the first half of 2014. Production efficiency of Buzzard oilfield in the UK North Sea was further enhanced, while production and operation of Long Lake oil sands project achieved significant improvement. The progress of integration reached the Company's expectation.

Mr. Wang Yilin, Chairman of the Company, said, "In the first half of 2014, the Company has executed its 'New Leap Forward' strategy in a solid way and achieved satisfactory results. We will endeavor to strengthen our management, enhance the growth quality and efficiency of the Company to create greater value for our shareholders."

Mr. Li Fanrong, CEO of the Company commented, "During the first half of 2014, we have actively pushed ahead different areas of our business. Good progress was made in the production and operation and a healthy financial position was maintained. In the second half of the year, we will continue to work diligently to ensure that we meet our annual production and business targets."

In the first half of the year, the Company's basic earnings per share reached RMB0.75. The Board has declared an interim dividend of HK$0.25 per share (tax inclusive).

Notes to Editors:

More information about the Company is available at http://www.cnoocltd.com.

This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. The words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes are appropriate under the circumstances. However, whether actual results and developments will meet the expectations and predictions of the Company depends on a number of risks and uncertainties which could cause the actual results, performance and financial condition to differ materially from the Company's expectations, including those associated with fluctuations in crude oil and natural gas prices, the exploration or development activities, the capital expenditure requirements, the business strategy, whether the transactions entered into by the Group can complete on schedule pursuant to its terms and timetable or at all, the highly competitive nature of the oil and natural gas industries, the foreign operations, environmental liabilities and compliance requirements, and economic and political conditions in the People's Republic of China. For a description of these and other risks and uncertainties, please see the documents the Company files from time to time with the United States Securities and Exchange Commission, including the 2013 Annual Report on Form 20-F filed on 17 April 2014.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations.

For further enquiries, please contact:

Ms. Michelle Zhang
Deputy Manager, Media / Public Relations
CNOOC Limited
Tel: +86-10-8452-6642
Fax: +86-10-8452-1441
E-mail: MR@cnooc.com.cn

Ms. Cathy Zhang
Hill+Knowlton Strategies Asia
Tel: +852-2894-6211
Fax: +852-2576-1990
E-mail: cathy.zhang@hkstrategies.com

Logo - http://www.prnasia.com/sa/200701301659.jpg

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Climate Reality Launches 24 Hours of Reality: 24 Reasons for Hope

- Prior to UN Climate Summit, Cultural Leaders Join Al Gore to Highlight Climate Solutions at Hand, Encourage Viewers to Dedicate a Day to Climate Fight

BOULDER, Colo., Aug. 27, 2014 /PRNewswire/ -- The Climate Reality Project's fourth-annual 24 Hours of Reality broadcast, 24 Hours of Reality: 24 Reasons for Hope, will be presented live from Brooklyn, New York on September 16-17, beginning 12 PM EDT. This year's broadcast marks a turning point in the global movement for climate solutions, celebrating innovation and progress in fighting climate change around the world and kick starting a year of concerted action. Each hour, former U.S. Vice President and Climate Reality Chairman and Founder Al Gore will introduce a new reason to be hopeful about solving climate change and invite viewers worldwide to join this effort and dedicate a day in the coming year to helping end the climate crisis.

Airing one week prior to the U.N. Climate Summit, this year's 24 Hours of Reality program will share the good news that the tide is turning and solutions to climate change are here today. Each hour focuses on a specific milestone in efforts to address the crisis – from the plummeting cost of solar panels to the rise of climate action at the national level. Building on the previous three installments of award-winning programming, this year's broadcast will feature field reports with activists, town hall-style discussions with experts, and one-on-one interviews with celebrities, and artistic performances.

"Carbon pollution is already having a profound impact on our climate, but the good news is that we have all the tools we need to overcome this challenge," said Al Gore. "It's time our leaders stop asking 'What do we do?' and instead ask 'How can we accelerate the shift to a sustainable future powered by cheap, clean renewable energy, with sustainable agriculture and forestry.' This year's 24 Hours of Reality will signal a transition in the global conversation on climate change where we highlight the solutions at hand and empower individuals to take simple actions to aid this global fight."

The first 24 Hours of Reality began with the idea that much can change in a day. That's why, throughout the program, viewers will be asked to dedicate a day to making a difference in the climate fight. The combined efforts from viewers across the world will make 24 Reasons for Hope the kickoff for a global commitment to better our communities and transition to a clean energy future.

"24 Reasons for Hope will ask each of us to dedicate a day to make a difference," said Ken Berlin, President and CEO of The Climate Reality Project. "Climate change is big and complex, but that means there are hundreds of ways to contribute. Whether it's a parent organizing a renewable energy fair at school, or a young professional pledging to become a Climate Reality Leader, or a student working to elect a clean energy candidate, we all have different ways and different days to contribute."

In addition to former Vice President Al Gore and Climate Reality Project President and CEO Ken Berlin, a variety of international celebrities, musicians, advocates, and other special guests will join the broadcast, including:

  • Vanessa Black, filmmaker
  • Colbie Caillat, singer-songwriter
  • Rodne Galicha, activist
  • Wanjira Mathai, environmentalist
  • Jason Mraz, singer-songwriter
  • Patrick Ngowi, entrepreneur
  • Bunker Roy, founder of the Barefoot College
  • Mark Ruffalo, actor & activist
  • Ian Somerhalder, actor & model
  • Johan van der Berg
  • Daniela Velasco

Representatives from:

  • Truman Project
  • The Global Alliance for Clean Cookstoves
  • The Green Belt Movement
  • The Land Institute
  • Solar Sister
  • Interfaith Power and Light

The broadcast will be produced by Control Room, with supporting media efforts by Participant Media's television network, Pivot, and TakePart.com.

For more information on 24 Hours of Reality, visit www.24hoursofreality.org.

About The Climate Reality Project:
The Climate Reality Project is one of the world's leading organizations dedicated to mobilizing action around climate change. For more information, visit www.climaterealityproject.org or follow us on Twitter at @ClimateReality.


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NF Energy Developes a New Solution to the Disposal of Landfill Leachate to Enter a New Market

SHENYANG, China, August 27, 2014 /PRNewswire/ -- NF Energy Saving Corporation (NFEC) ("NF Energy" or the "Company"), a leading energy saving services and solutions provider for China's power, petrochemical, coal, metallurgy, construction, an...

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Yingli Green Energy Reports Second Quarter 2014 Results

Cumulative PV Module Shipments Exceeded 10 GW Globally BAODING, China, August 27, 2014 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), t...

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