Archive | December, 2004

PAKISTAN: Petroleum minister predicts “revolution” in energy exploration and production

Pakistan is eyeing a “revolution” in oil, gas and mineral exploration and development in a few years, according to the country’s Minister of State for Petroleum & Natural Resources Mir Muhammed Naseer Khan Mengal. Speaking with members of Federation of Pakistan Chambers of Commerce and Industry and FPCCI Standing Committee on CNG, Oil & Gas, […]

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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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INDIA: W’rtsil’ awarded first O&M contract for coal power plant

W’rtsil’ has announced the signing of its first operation and maintenance (O&M) contract for a coal-fired power plant in India.   A W’rtsil’ press release said the contract is for a 15MW coal-fired steam turbind power plant for a leading Indian cement producer.   The contract marks significant progress for W’rtsil’ in broadening the scope […]

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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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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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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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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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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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