Archive | September, 2003

CAMBODIA: ADB approves grant for boosting power transmission in Cambodia and the Greater Mekong regi

The ADB has approved a US$730,000 technical assistance grant to Cambodia to prepare a power transmission project for the Greater Mekong region. The grant will develop feasibility studies that will allow international power transfers, and stimulate economic growth and reduce poverty across the country. The six countries of the Greater Mekong region, Thailand, Cambodia, Vietnam, […]

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PHILIPPINES: Caltex not yet exempt from IPO requirement Ð Perez

MANILA (AFX-ASIA) – The government will not yet exempt Caltex Philippines Inc from the mandatory initial public offering even if it has decided to stop its local refining operations, Energy Secretary Vicente Perez said. “Under the Oil Industry Deregulation Law, only oil refiners should list. Since Caltex is not anymore (operating) a refinery, we cannot […]

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MARKETS: Shock OPEC quota cut raises questions over cartel’s credibility

LONDON (AFX) – OPEC’s surprise decision last week to cut output quotas raises questions over the credibility of the cartel and represents a slap in the face for oil consuming countries hoping for low oil prices in order to boost economic growth, analysts said. The Organisation of Petroleum Exporting Countries (OPEC) will reduce its output […]

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INDIA: Joint project with the US to stockpile 55 million tones of crude

(INFRALINE) — India will set up three strategic oil reserves at Rajkot, Mangalore and Vishakhapatnam in collaboration with the US. The Rs 43.5 billion project will stockpile 55 million tonnes of crude oil to meet emergency requirements. (US$1=Rs 45). While Rajkot will have the biggest reserve of 25 million tonnes, the Mangalore facility will stock […]

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IRAN: Royal Dutch/Shell not planning bid for Iran’s Azadegan project ‘at the moment’

LONDON (AFX) – Royal Dutch/Shell Group said it is at present not planning to bid for the massive Azadegan project in Iran. Azadegan, located in southern Iran, is considered to be the country’s biggest oil field with potential reserves of around 26 billion barrels of crude oil. A Shell spokesman said the group, which serves […]

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