Archive | July, 2004

BANGLADESH: ADB approves study to help develop natural gas sector

The Asian Development Bank (ADB) said it has approved a US$480,000 technical assistance grant to assist in developing Bangladesh’s natural gas industry. The study grant will analyse opportunities for the gas sector’s growth and review development plans prepared by the Bangladeshi government and its development partners. It will review existing policies and prepare reform measures […]

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AUSTRALIA: Former Exxon subsidiary Delhi Petroleum aims to raise A$250 million

Australia’s former ExxonMobil subsidiary Delhi Petroleum is trying to raise A$250 million from the public through a hybrid offering that pays investors a 11% yield, according to the Australian Financial Review (AFR). (US$1=A$1.45). Delhi Petroleum holds about 21% of the offshore Cooper and Eromanga Basin oil and gas exploration and production assets. A Westpac-managed investment […]

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MALAYSIA: Power company Tenaga reports 140% rise in January-to-March net profits

Malaysia’s power company Tenaga Nasional Bhd has reported a 140% jump in its net profit to RM336.60 million for the third quarter to March 31, 2004, thanks to higher electricity sales. (US$1=RM3.8). However, for the nine months, The Edge newspaper said Tenaga’s net profit fell 49.2% to RM367.30 million from RM723.40 million previously, because of […]

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MARKETS: ESAI says California sets new fuel economy trend, with world implications on oil

The state of California has embarked on a path to reduce greenhouse gas emissions from cars. While the automakers and the federal government will fight California on this, if the state wins this battle, US energy consultant ESAI believes it will be a dramatic development for the US and global oil markets. California’s Air Resources […]

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