Tuesday September 05, 2006

Indonesia to cut LNG supply to 6 million tons after 2010

marketwatch.com :

Indonesia's state-run oil and gas company Pertamina has reached an agreement with Japanese end users to cut shipments of liquefied natural gas by half to 6 million metric tons a year after current supply contracts expire in 2010, a spokesman for Kansai Electric Power Co said.

Indonesia's President Susilo Bambang Yudhoyono said in March the country might reduce its LNG exports to Japan after 2010, to boost the availability of natural gas for domestic industries amid decreasing natural gas production.

Kepco, Japan's second largest utility in terms of both revenue and output, imported 4 million tons of LNG in the fiscal year to March 2006, 46% of which came from Indonesia. The company reduced its dependence on Indonesian LNG from 74% in fiscal 2002 to 46% in fiscal 2005 by importing more LNG from countries like Qatar and Australia. Japan imported 58 million tons of LNG in 2005, of which 25% was from Indonesia.

- The Indonesian situation gets more ominous. And note that Japan has been running the LNG race for quite some time already, while Singapore hasn't even reached the starting line.

See also :

1. Indonesia's LNG supremacy wanes as Chevron's fields run short
2. Indonesia likely to terminate gas exports

(2006-09-05 13:13:24 SGT) [Energy] Permalink

China to accelerate LCD production

vnunet.com :

China will ramp up the production of LCD screens dramatically during the next few years, new research predicts. The country's LCD manufacturing capacity will grow 35% next year and 50% in 2008, according to a report from SEMI, a global semiconductor manufacturing industry association. China already has two fifth-generation LCD plants in operation, with one more about to start production and another on the drawing board.

China still lags far behind the cutting edge of display technology. LCD market leaders like Sharp, Sony and Samsung are currently manufacturing display panels in so-called seventh-generation plants, and are just beginning operations at eighth generation-facilities. Later generation plants are more suitable for large TV-sized displays, and can provide brighter, sharper images.

See also :

1. LCD TV prices set to fall next year

(2006-09-05 12:54:27 SGT) [Tech] Permalink

LCD TV prices set to fall next year

betanews.com :

Both LG and Sharp announced at the IFA electronics show in Berlin that the cost of LCD flat-panel televisions will fall dramatically in 2007, with prices dropping 20% to 30%. The companies attribute the expected savings to overproduction and lower manufacturing costs. Falling prices could help LCD technology better compete with plasma televisions, which have been more popular for larger displays due to their lower price tag.

See also :

1. Flat-panel TVs face competition from conventional box sets

(2006-09-05 12:51:33 SGT) [Tech] Permalink

Intel may announce job cuts soon

news.yahoo.com :

Intel, the world's biggest microchip maker, may cut up to 10% of its work force, a technology news site said, citing sources familiar with the plans. Earlier this month, the company wrapped up a 3-month review of its operations aimed at saving it $1 billion a year and making it more competitive with rival Advanced Micro Devices (AMD).

Analysts have said the Santa Clara, California-based firm is almost certainly preparing to slash its 100,000-strong work force, and the size and timing of the cuts have been a topic of heated speculation in recent weeks. Previous estimates by Wall Street analysts have put the size of the cuts anywhere from a few thousand to 16,000 employees. The cuts would be the latest in a string of actions taken by Intel Chief Executive Paul Otellini to try to restart growth at the company, which posted a 56% drop in net profit for its second quarter.

- When the earlier news came out on the chopping of the 1000 management jobs at Intel, it was reported that "Intel reported a 38% drop in first-quarter profit". Note how this has now worsened to a 56% drop in profit for the second quarter.

See also :

1. Intel to slash 1000 management jobs

(2006-09-05 12:47:38 SGT) [Biz] Permalink

Goldcorp buys Glamis for US$8.6b

channelnewsasia.com :

Canadian gold mining company Goldcorp said it has acquired US rival Glamis Gold Ltd for 8.6 billion dollars, creating one of the world's largest gold mining companies with combined assets of 21.3 billion dollars. The new company will keep the name Goldcorp. The new Goldcorp will have proven and probable reserves of approximately 41.1 million gold ounces, the company said.

- Yet another mega-merger.

(2006-09-05 12:41:14 SGT) [Biz] Permalink

Brazil the emerging powerhouse

business-times.asia1.com.sg :

Brazil is better known for producing talented footballers. But how many Singaporeans know that 80% of the frozen chickens we eat every year come from Brazil? How many know that Brazil is rich in oil and a top global producer of citrus fruits, frozen concentrated orange juice and coffee? Or a top exporter of maize, rice and beef?

Brazil is all that, and more. Brazil is now a global player in steel, automotive, petrochemicals and utilities production. Agriculture, manufacturing, and energy - Brazil has the largest reserves of crude in South America after Venezuela - today underpins a flourishing economy that's among the world's 10 largest. Brazil's economy, which boasts gross domestic product of about US$605 billion, has been growing strongly every quarter - the GDP expanded 5.2% in 2004, the biggest gain in a decade.

Brazil is not just rich in resources. With a population of 183 million people with money to spend, it offers a market big enough to tantalise investors. The country is fast emerging as the next economic powerhouse. Goldman Sachs has already picked Brazil, along with Russia, India and China - the BRIC economies, as the US investment banking firm called them - as one of the world's most important emerging economies.

See also :

1. Brazil is the next economic (and political) superpower
2. Brazil takes a major step toward oil self-sufficiency

(2006-09-05 12:37:26 SGT) [Biz] Permalink

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