Platts to Announce 2009 Top 250 Global Energy CompaniesNEW YORK - - Ranking to be Unveiled at Top 250 Global Energy Companies Awards and Leadership Dinner during Singapore International Energy Week ALERT: Top China Power Generation Company in Broad Cooperation with Canadian Solar (CSIQ)ONTARIO, Canada - Canadian Solar Inc. (”the Company”, “Canadian Solar” or “we”) (Nasdaq: CSIQ) today announced a broad strategic cooperation with one of China’s largest power generation companies. Under the far reaching agreement, Canadian Solar and the Guodian Power Development Co., Ltd. will design, invest, build, operate and maintain PV power plants in China. As specified in the agreement, the two parties will work together as strategic partners in Gansu, Ningxia and Inner Mongolia first and will work to develop new markets in other provinces in the future. ICE Clear Europe Clears Euro 32 Billion in Second Week of European CDS ProcessingLONDON - IntercontinentalExchange(R) (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced ICE Clear Europe(R) cleared 699 transactions totaling euro 31.9 billion (US$45.2 billion) in credit default swap (CDS) indexes during the week of August 3. Open interest reached euro 1.5 billion (US$2.1 billion). Addax Petroleum Announces Sinopec’s Receipt of Approvals From The People’s Republic of ChinaCALGARY, Canada - Addax Petroleum Corporation (”Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC) today announced that it has received confirmation from Sinopec International Petroleum Exploration and Production Corporation (”SIPC”) that it has obtained all approvals required from the relevant Government Entities of The People’s Republic of China (”PRC Approvals”) in order for SIPC and Mirror Lake Oil and Gas Company Limited (”Mirror Lake”), an indirect wholly-owned subsidiary of SIPC, to complete the acquisition of Addax Petroleum. SIPC has also confirmed that receipt of the PRC Approvals satisfies the condition to the offer for Addax Petroleum dated July 9, 2009 (the “Offer”) made by Mirror Lake that the PRC Approvals be obtained. Renewable Energy: Garrad Hassan Joins Germanischer LloydHAMBURG, Germany and BRISTOL, England - Garrad Hassan (GH), based in Bristol (UK), is joining Germanischer Lloyd (GL) to form a fully integrated technical assurance and consulting company for renewable energy. Improving Road Infrastructure and Proposed Huge Investments in Pipelines Bode Well For the Liquid and Gaseous Cargo Transportation Market in IndiaMUMBAI, India - Rapidly rising consumption of petroleum oil and gases, together with liquid chemicals, is driving the market for transportation of liquid and gaseous cargo in India. The growing economy, increasing disposable income, and growth in automobile and industrial production continues to push the demand for natural gas as well as petroleum, oil, and lubricants (POL). More than half of the liquid and gaseous cargo in India was transported domestically by road in 2008; but with growing consumption, pipelines are expected to gain share from road and railways in the POL segment. The main reasons behind this are higher safety, lower rates of pilferage, and faster transportation time. Canadian Solar Reports Second Quarter 2009 ResultsONTARIO, Canada - Q209 Highlights – Net revenues of US$114.2 million, a 131% increase from Q109 net revenues of US$49.5 million. — Shipments of 48.2 MW, a 168% increase from Q109 shipments of 18 MW. — Gross margin of 20.2% and net margin of 15.5%, compared to Q109 negative gross margin of 7.9% and Q109 negative net margin of 9.7%. — Earnings per diluted share of US$0.49, compared to Q109 net loss per diluted share of US$0.13. ICIS Pricing Launches Asia Ethylene and Polyethylene Margin Reports - Ethylene Producer Margins Recover but for how Long?SINGAPORE - Key players in the region have welcomed the launch of new weekly Asia Ethylene and Polyethylene Margin reports from ICIS pricing, the leading price reporting service for the global chemical industry. With markets remaining highly volatile, the reports offer an authoritative and independent measure of producer cash costs and cash margins, essential for confident planning and negotiation by sellers, buyers and traders. Endeavour Announces 2009 Second Quarter Financial and Operating ResultsHOUSTON - Endeavour International Corporation (NYSE Amex: END) (LSE: ENDV) today reported discretionary cash flow for the second quarter of 2009 of US$19.0 million and net income, as adjusted, of US$38.5 million. Production for the period averaged 5,360 barrels of oil equivalent per day. Southern Africa Set for a Flood of Renewable Energy Projects According to Frost & SullivanCAPE TOWN, South Africa - Despite the considerable potential that exists to produce electricity using renewable energy (RE) in Southern Africa, RE projects have been largely limited to off-grid, small-scale applications. However, the renewable energy market in South Africa is expected to grow exponentially in the next few years, owing to the announcement of the renewable energy feed-in tariff made in March 2009. The Best Time for EU Industries to Invest in Abatement Technologies is Now, Says Frost & SullivanLONDON - Phase II of the European Union Emission Trading Scheme (EU ETS) and the global economic downturn have commenced around the same time. The most affected industries had to undergo production cuts and significant layoffs in an effort to reduce their costs. This resulted in lower emissions, and consequently, reduced the European Union allowance (EUA) price. The Vitol Group Completes Expansion Projects at Two Key TerminalsGENEVA - The Vitol Group announced today the completion of two key projects in its storage and terminals business, VTTI (Vitol Tank Terminals International). ICE Clear Europe Announces euro5.9 Billion in CDS Cleared for Week of July 27, 2009LONDON - IntercontinentalExchange(R) (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, today announced that in its first week of operation, ICE Clear Europe(R) cleared euro5.9 billion (US$8.4 billion) in credit default swap (CDS) indexes. Ventyx Releases Spring 2009 Reference Case Reports: 25-Year Wholesale Market Outlook for European Energy MarketsLONDON - Ventyx(R), the world’s largest private software, data and advisory services provider to the energy and utility industry, announced today the release of its Spring 2009 European Reference Case Reports, providing a 25-year outlook for key European wholesale energy markets. Spain Investigates President of Equatorial Guinea for Laundering Oil MoneyMADRID - After thirty years of corrupt rule in Equatorial Guinea, the courts are finally taking a serious look at what the ruling family does with the nation’s oil wealth, said the Open Society Justice Initiative today. An investigation is currently underway into millions of dollars of oil revenues allegedly siphoned off by President Teodoro Obiang Nguema of Equatorial Guinea to purchase real estate in Spain. Technology Development Company Announces US$11 Million Dollar InvestmentST JOHN’S, Canada - PanGeo Subsea announced today they have secured a multi-million dollar investment to support ongoing commercialization of its innovative acoustic imaging technology and to increase its product offerings. The investment is led by Lime Rock Partners and CTTV Investments LLC, the venture capital arm of Chevron Technology Ventures. BlackLight Power Inc. Announces its Sixth Commercial License AgreementCRANBURY, New Jersey - - Non-Exclusive License with Akridge Energy to produce up to 400 MW of continuous power /C O R R E C T I O N — BlackLight Power/CRANBURY, New Jersey - In the news release, “BlackLight Power Inc. Announces its Sixth Commercial License Agreement” issued on 30 Jul 2009 13:00 GMT, by BlackLight Power over PR Newswire, we are advised by a representative of the company that, in the boilerplate, after the first mention of the company name “Akridge Energy, LLC”, all subsequent mentions should read “Akridge” rather than “Akridge Energy” as originally issued inadvertently. EDP Energias do Brasil Reports EBITDA of R$344 Million in 2Q09SAO PAULO - - Manageable Expenses, excluding Depreciation and Amortization, reduced by 12% compared with 2Q08 Latest Enhancements to AVEVA Plant Deliver Immediate and Measurable User BenefitsCAMBRIDGE, England - AVEVA (LSE:AVV) today announces further enhancements to its AVEVA Plant portfolio, with significant improvements to AVEVA PDMS, AVEVA Global and all of its schematics products. ICE Clear Europe Launches European CDS ClearingLONDON - IntercontinentalExchange(R) (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, announced that ICE Clear Europe(R) has introduced clearing for European credit default swaps (CDS), beginning with iTraxx contracts, effective this week. ICE’s CDS clearing operations are designed to address the operational and risk management needs of the credit market, as well as calls by regulators and policy makers for transparency, standardization and systemic risk reduction. The U.K. Financial Services Authority (FSA) has completed its regulatory review of ICE Clear Europe’s CDS clearing operations, risk management and governance. US$28 Million Judgment to New York Based Joy-Lud Distributors International Blocked by Russian AuthoritiesNEW YORK - Joy-Lud Distributors International, Inc., a former leading oil product distributor based in New York City, won landmark arbitration against OJSC Moscow Oil Refinery (MOR) in 2005. Joy-Lud was awarded a sum of US$28 million, which has accrued to over US$40 million. Presently the documents used by the Russian bailiffs for enforcement have been seized by local Moscow authorities and the bailiffs have failed to take any action to collect the award for over a year. Addax Petroleum Announces Record Production in Second Quarter 2009 ResultsCALGARY, Canada - - Record Quarterly Production of 143.2 Mbbl/d - Funds Flow From Operations of $306 million - Net Income of $38 Million Low Demand for Energy Result in a Change in Aviation NeedsDUBAI, UAE - - Air Charter International Expects a Shift in Aviation Requirements for the Oil and Gas Industry New Weekly Middle East and South Asia Polyethylene (PE) Pipe Grade Price Report From ICIS PricingSINGAPORE - ICIS pricing, the world’s leading price reporting service for the global chemical industry, has launched a new weekly price report for polyethylene (PE) pipe grade resins covering the Middle East and South Asia. The report arrives at a time of growth in the use of PE pipe grade in water supply and irrigation, and delivery of oil and gas. Frost & Sullivan: the Solar Thermal Systems Market in Europe will Double the RevenuesLONDON - The market for solar thermal systems (STS) in Europe has witnessed significant developments at all levels in the last four years. Policy makers, market participants and end users have shown a keen interest in STS, ensuring a high growth potential. Due to its tremendous long-term growth prospects, this market has attracted several new participants that are playing a central role in promoting the industry. Gulf Navigation Holding PJSC Appoints New CFODUBAI - Gulf Navigation Holding PJSC (DFM: GULFNAV) the regional leader in Maritime and Shipping Services has announced the appointment of Mr. Khalid Karim to the position of Chief Financial Officer Addax Petroleum Announces Receipt of Letter From Kurdistan Regional Government of IraqCALGARY, Canada - Addax Petroleum Corporation (”Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC), today announced that it has received a letter (the “KRG Letter”) from the Minister of Natural Resources of the Kurdistan Regional Government (the “KRG”) and has confirmation from Sinopec International Petroleum Exploration and Production Corporation (”SIPC”) that receipt of this letter satisfies the condition to the offer for Addax Petroleum dated July 9, 2009 (the “Offer”) made by Mirror Lake Oil and Gas Company Limited, an indirect wholly-owned subsidiary of SIPC, that Addax Petroleum obtain the KRG Letter. The Offer is subject to a number of conditions including valid acceptances by holders of not less than 66 2/3 per cent of Addax Petroleum shares on a fully diluted basis and receipt of certain regulatory approvals, including the government of The People’s Republic of China. The Offer is expected to close in the third quarter of 2009. ICE Announces October Launch of Buy-Side Solution for CDS Clearing; Segregated Funds Solution Offers Robust Protection for CDS Market ParticipantsNEW YORK - IntercontinentalExchange(R) (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, announced today that it has developed a solution that provides segregation of customer funds and positions in credit default swap (CDS) clearing. The solution, which will enable buy-side participation in CDS clearing, is expected to be introduced in October 2009, subject to regulatory approval. Albemarle to Offer NEBULA(R) Catalyst Through Hydroprocessing AllianceBATON ROUGE, Louisiana - - New Innovative Catalyst Allows Diesel Producers to Boost Production with No Capital Investment Endeavour to Present at Annual Enercom Oil and Gas ConferenceHOUSTON - Endeavour International Corporation (NYSE-Amex: END) (LSE: ENDV) will participate in The 2009 Oil and Gas Conference hosted by Enercom, Inc. on Tuesday, August 11, 2009 in Denver, Colorado. Endeavour Schedules 2009 Second Quarter Earnings Conference CallHOUSTON - Endeavour International Corporation (NYSE-Amex: END) (LSE: ENDV) will host a conference call to discuss its 2009 second quarter financial and operating results on Tuesday, August 4, 2009 at 9 a.m. Central Daylight Time, 3 p.m. British Summer Time. Perenco Warns That Suspension of its Contracts With Ecuador is Imminent due to Ecuador’s Refusal to Comply With International Arbitration Tribunal OrdersLONDON - Perenco Ecuador Limited (”Perenco Ecuador”) and its consortium partner, Burlington Resources Oriente Ltd. (”Burlington”), today announced that suspension of their participation contracts with Ecuador is imminent unless the Government of Ecuador complies with orders of two international arbitration tribunals that prohibit the Government from seizing oil produced by the consortium. Underwriters Laboratories Completes Facility Expansion, Creates Largest Independently Owned Solar Testing Lab in North AmericaNORTHBROOK, Illinois - - With 40 percent more testing capacity, UL’s San Jose laboratory helps deliver solar products to market faster than ever before Synthetic Genomics Inc. and ExxonMobil Research and Engineering Company Sign Exclusive, Multi-Year Agreement to Develop Next Generation Biofuels Using Photosynthetic AlgaeLA JOLLA, California - Synthetic Genomics Inc. (SGI), a privately held company applying genomic-driven commercial solutions to address a variety of global challenges including energy and the environment, announced today a multi-year research and development agreement with ExxonMobil Research and Engineering Company (EMRE) to develop next generation biofuels using photosynthetic algae. |
