Archive | October, 2003

CHINA: Sinopec Corp says it achieved ‘satisfactory’ results for the first three quarters ended S

China Petroleum & Chemical Corporation (Sinopec Corp HKEX: 386; NYSE: SNP; LSE: SNP; CH: 600028) said it achieved ‘satisfactory’ results for the first nine months of its operations this year. Based on unaudited data, its revenue for the period grew 31.52% to RMB 313.23 billion(US$1=RMB8.27), with operating profit up 52.39% to RMB 29.30 billion. Profit […]

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RUSSIA: US criticises ‘selective’ use of law in arrest of Yukos chief Khodorkovsky

MOSCOW (AFX) – The US is concerned about prosecutors’ escalating campaign against Russian oil giant Yukos and their selective use of the law in arresting its multi-billionaire head Mikhail Khodorkovsky, a senior US diplomat told AFP. In the US government’s first response to the arrest, the US envoy warned that the detention of Mr Khodorkovsky […]

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RUSSIA: BP’s Browne assures Russian investment protected from oil price shocks

LONDON (AFX) – Lord Browne, chief executive of BP PLC, has assured that the oil giant’s US$6.8 billion investment in Russia is protected from oil price volatilities. TNK-BP’s business, which it jointly owns with Russia’ TNK, is “robust” even to lower oil prices, he told reporters in a news conference. That was while he admitted […]

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AUSTRALIA: Darwin LNG project awards contracts worth than to A$230 to local companies

Companies based in Australia’s Northern Territory state have been awarded more than A$230 million in materials and services contracts for the 3-million tonnes/year Darwin liquefied natural gas (LNG) plant. (US$1=A$1.43). US ConocoPhillips is building the plant – the Territory’s biggest-ever private investment project – as part of the A$2.3 billion development of the Bayu-Undan gas […]

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COMPANY: KBC signs simulation software deal with refiner Valero Energy Corp

US-based Valero Energy Corporation has signed a 30-year licence to use KBC Profimatics’ market leading fluid catalytic cracking simulator, FCC-SIM, at 13 of its North American refineries. The FCC-SIM model is a comprehensive simulation tool providing commercial FCC process analysis and optimisation capabilities, said UK-based KBC Advanced Technologies plc, owner of the software. Valero will […]

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TURKMENISTAN: Dragon Oil, Petronas to cooperate in upstream, downstream activities

LONDON (AFX) – Dragon Oil PLC said it signed a memorandum of understanding with Malaysia’s Petronas to cooperate in Turkmenistan. Areas of cooperation would include gas development, transmission, marketing and sales of gas, drilling services, and field operations and logistics, Dragon said. Dragon chairman Hussain Sultan said: “This MOU is an opportunity for Dragon to […]

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