BRIEFING - ASIA ENERGY - SEPT 26, 2005.

(From Asia Pulse)

An executive briefing on energy for Sept 26, 2005, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.

US SHOWS INTEREST IN PNG CARBON TRADE: PNG MINISTER

PORT MORESBY - Papua New Guinea (PNG) has presented its proposal on carbon trade to the United States government, which has taken interest in it, according to Foreign Affairs and Immigration Minister Sir Rabbie Namaliu.

Sir Rabbie, who just returned from the United Nations world leaders meeting in New York, told reporters that the United States invited PNG to outline its proposal on Carbon Trading at Capitol Hill, Washington D.C.

DABHOL PROJECT IN INDIA TO RESUME BY END 2006

NEW DELHI - The Bombay High Court has given its go ahead for transfer of assets of the 2,184 MW Dabhol power plant to Ratnagiri Gas and Power Pvt Ltd, paving the way for restarting the plant before the end of 2006.

The court gave its nod Thursday for transfer of assets to RGPPL, the joint venture floated by power major NTPC (BSE:532555), gas utility GAIL (BSE:532155) and IDBI-led financial institutions.

INDIA'S OVL PAYS MAIDEN DIVIDEND TO ONGC

NEW DELHI - ONGC Videsh Limited (OVL), the biggest Indian multinational, has paid its first-ever dividend of Rs 1.05 billion (US$23.9 million) for the year ended 31st March, 2005 to its parent Oil and Natural Gas Corp (ONGC).

The dividend, …