AMSTERDAM (AFX) – Royal Dutch/Shell Group said it has approved the final investment decision to develop the Kashagan oil field in Kazakhstan. Separately, the Kazakh petroleum authority Kazmunaygaz and the North Caspian Sea production sharing agreement consortium approved the development plan for the project, Shell said. The Kashagan field was discovered in 2000 and is...
The only surprise to come out of OPEC’s announcement about another production quota cut at its Feb 10 ministerial meeting was that it actually caught many analysts off-guard — again. It was the second time in less than six months that the cartel had ‘surprised’ the market with plans to reduce production. “There’s unlikely to...
Broker Ginga Petroleum has announced the launch of a forward physical contract for fuel oil cargoes traded on a C&F Huangpu basis. The semi-physical forward contract will provide a new trading instrument to the traders involved in the China fuel oil market. The company said the contract has been launched in response to the demand...
This book explores the growth in the LNG industry and how the increase in the number of buyers and greater supply competition will gain pace, bringing rapid expansion and further globalisation. The book is a series of in-depth articles from leading industry executives that address key issues including:...
Australian engineering firm Clough Limited (ASX: CLO) has reported an after tax interim profit of A$3.2 million for the six months to December 31, 2003 compared with a net loss of A$4.9 million in the previous corresponding period. (US$1=A$1.3). Its full year profit is forecast to be higher in the second half of the financial...
Singapore Petroleum Company Limited (SPC) has bought out BP’s one-third stake in Singapore Refining Company for US$140 million. The acquisition involves the purchase of BP Singapore’s one-third equity interest in Singapore Refining Company Private Limited (SRC), related refining assets in SRC and BPS’ one-sixth equity interest in Tanker Mooring Services Company Pte Ltd (TMS). SPC...
BEIJING (AFX-ASIA) – Shenzhen will invest more than 6.85 billion yuan in 10 large projects, mainly in the transport and energy sectors, which were declared “critical projects” this year by the Guangdong government, the China Economic Times reported, without citing sources. (US$1=8.27 yuan). The newspaper said of the 10 projects, two have become operational, six...
BEIJING (AFX-ASIA) – Shanghai Electric (Group) Corp’s three domestically listed units said their parent will inject its stakes in the units into a newly established venture with domestic strategic investors to be called Shanghai Electric Group Co Ltd. The listed units are Shanghai Electric Co Ltd (SHA 600835; SHB 900925), Shanghai Electrical Apparatus Co Ltd...
Thai Petroleum Pipeline Co (Thappline) has increased its registered capital by 1.3 billion baht to 4.18 billion baht to finance the pipeline extension project for the new Suvarnabhumi Airport, according to a Bangkok Post report. (US$1=39 baht). Thappline recently signed an agreement for the capital increase and financial restructuring after its shareholders — PTT, Esso,...