Archive | November, 2003

CHINA: Panva Gas in MOU with Foshan

Panriver Investments Company, a wholly-owned subsidiary of Hongkong-listed Panva Gas Holdings Limited, has entered into a non-legally binding memorandum of understanding with Foshan Construction and Transportation Assets Management Company Limited and Foshan Gas Company for the possible acquisition of a 45% equity interest in Foshan Gas. Panriver Investments will acquire from Foshan CTAM a 45% […]

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SAUDI ARABIA: Islamists planning to bomb Saudi oil province

DUBAI (AFX-ASIA) – Islamist militants are planning further attacks in Saudi Arabia targeting the kingdom’s oil-rich eastern province, the Washington-based Saudi Institute Press (SIP) reported, quoting a Saudi security source. “Armed extremists are planning bombings and attacks in the eastern province, targeting Westerners, Shiite communities and economic facilities,” said SIP, a non-profit organization that runs […]

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RUSSIA: Plans to up taxes throughout oil sector Ð Yukos

MOSCOW (AFX) – A senior official from the troubled Russian oil giant Yukos has said the Russian government had decided to increase taxes on profits throughout the Russian oil industry. “Someone in the government has decided that this industry has been generating unnecessary profits,” and that those profits therefore had to be re-distributed, Yukos finance […]

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CHINA: European working group to advocate China energy policy changes

BEIJING (AFX-ASIA) – A working group representing leading European energy firms will meet with Chinese counterparts next month to propose changes to China’s energy policies, including allowing foreign investors to take majority holdings in petrochemical, gas and oil joint ventures, the China Daily reported, citing a leading official with the group. The newspaper quoted Henry […]

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JAPAN: Tokyo Gas 30 billion yen 10-year bonds assigned ‘Aa1′ long-term rating – Moody’s

TOKYO (AFX-ASIA) – Moody’s Investors Service said today it has assigned an “Aa1″ long-term rating to the 30 billion yen of 10-year bonds issued by Tokyo Gas Co Ltd, and a “(P) Aa1″ rating to a 150 billion yen shelf registration by the company. (US$1=110 yen). “Aa1″ is the second-highest of Moody’s investment-grade credit ratings. […]

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