Archive | December, 2004

RUSSIA: Excerpts from President Vladimir Putin’s press conference defending Moscow’s handling of the

Russian President Vladimir Putin made the following comments at a press conference last week. “Now regarding the acquisition by Rosneft of the well-known asset of the company Ð I do not remember its exact name Ð is it Baikal Investment Company? Essentially, Rosneft, a 100% state owned company, has bought the well-known asset Yuganskneftegaz. That […]

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AUSTRALIA: Origin sells its Carpentaria Gas Pipeline interest for A$16 million

Origin Energy in conjunction with Santos Limited and Delhi Petroleum has announced that they have agreed to sell their combined 30% interest in the Carpentaria Gas Pipeline (CGP) to Australian Pipelines Trust (APT) for A$98 million. (US$1=A$1.33).             APT previously owned 70% of the CGP while Santos had an 18.02% stake, Delhi Petroleum 6.96% and […]

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INDIA: ADB provides US$400m loan for power transmission grid upgrade

ADB has approved a US$400 million loan to help finance a project to upgrade India’s national power transmission grid. The project will strengthen the capacity of the national transmission grid that comprises 765-kilovolt (kV) and 400kV transmission lines as well as sub-stations operated by the Power Grid Corporation of India Limited (Powergrid), according to an […]

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INDIA: Indian Oil Corp eyes stake in Nigerian refineries

Indian Oil Corporation (IOC) is interested to buy into three refineries in Nigeria while offering its expertise in providing maintenance and turnaround services to refineries in African and West Asian countries. “IOC has submitted Expression of Interest for acquiring a 51% stake in the Nigerian-government-owned Port Harcourt, Warri and Kuduna refineries,” an unnamed official was […]

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MARKETS: Asian product prices for December 30

Openspec naphtha tonne C+F Japan – US$394.25 (+US$6.00 from Dec 30 closing) 95 ron unleaded gasoline barrel FOB Singapore – 42.80 (+0.30) Jet kerosene barrel FOB Singapore Р48.50 (+0.45) Gasoil barrel FOB Singapore Р47.43 (-1.00) LSWR barrel FOB Indonesia – 22.10 (+0.07) HSFO 180cst tonne FOB Singapore Ð 174.90 (-2.47)  HSFO 380cst tonne FOB Singapore – 154.88 (-2.62)  

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JAPAN: Finance ministry allocates 10.1 billion yen to build vessel for gas exploration in East China

Japan’s Finance Minister will allocate 10.1 billion yen (US$970 million) in the fiscal 2005 budget to build a ship for gas exploration in the East China Sea, where Japan and China are embroiled in a territorial dispute, according to the Japan Times newspaper.   The move is seen as retaliation against what Japan says is […]

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CHINA: Oil development agreement signed with Nigeria

China and Nigeria have signed an agreement to develop oil fields 64 and 66 in the deep waters of the oil-rich Niger Delta in southern Nigeria, according to state oil company publication NPDC News.   The managing directors of the China Petrochemical Corporation (Sinopec) and the Nigerian Petroleum Development Company (NPDC) Ð the exploration and […]

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INDIA: Oil minister to meet Bangladesh, Myanmar counterparts in Yangon as gas pipeline proposal hits

The energy ministers of India, Bangladesh and Myanmar will meet in Yangon on January 12 and 13 to discuss the building of a gas pipeline from Myanmar to India through Bangladesh. India will be represented by Mani Shankar Aiyar, Bangladesh by Mosharraf Hossain and Myanmar by Brig-Gen Lun-Thi, the Times of India newspaper reported. The […]

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