Archive | March, 2003

MARKETS: Oil Prices To Stay Supported Despite Coalition Forces Advance Towards Baghdad

Driven almost entirely by political and military events in recent months, the oil markets have turned in their most volatile performance of the past decade. Price swings have been shorter and sharper in recent weeks, in particular since the March 20 start of the US-led war to overthrow President Saddam Hussein of Iraq. Traditional guides […]

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INDIA: Thousands of Hindustan Petroleum, Bharat Petroleum workers on strike

BOMBAY (AFX) – Thousands of employees at state-run Hindustan Petroleum Corp and Bharat Petroleum Corp took part in a three-day strike last week to protest the government’s decision to privatise the companies. Labour union leaders said workers of India’s largest state-run oil firms went on strike in the refineries as well as the marketing sections […]

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CENTRAL ASIA: Shell to pull out of Turkmenistan, Japanese group says Caspian oil well not commercial

ASHKHABAD (AFX) – Royal Dutch/Shell will reduce to a minimum its presence in Turkmenistan from April 1, an official of the oil and gas industry ministry said. “Shell feels there is a lack of prospects for oil and gas projects in Turkmenistan. Just a few people will remain at its Ashkhabad office to observe developments […]

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MALAYSIA: Australia’s Ranhill Worley awarded major contract by Sarawak Shell

Ranhill Worley, a partly Australian-owned engineering joint venture, was recently awarded a A$20 million contract by Sarawak Shell Berhad in Malaysia. (US$1=A$1.65). Sarawak Shell is a subsidiary of the Royal/Dutch Shell Group. Ranhill Worley will provide detailed engineering services for rejuvenation of all the existing facilities at the offshore E-11 field as the first phase […]

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