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Malaysia’s state oil company (Petronas) Will Exploration and Invest In Chinese
Malaysia’s state oil company Petroliam Nasional Bhd, or Petronas, is in talks with China National Petroleum Corp. over cooperation in exploring the Chinese company’s natural gas blocks in Myanmar, officials from the two companies said.
A delegation from Petronas, one of the biggest investors in Myanmar’s oil and gas industry, visited Beijing earlier this month for [...]
Canadian Mining company, Vangold Resources Ltd, Signs Deal to Explore for Oil
Canadian-based, Vangold Resources Ltd, has signed a production sharing contract (PSC) with Kenya’s Ministry of Energy to explore oil on Block 3A in the North Eastern Province.
This is the third exploration contract to be signed with an international oil company in three weeks.
Block 10A went to Camec International of the UK, Block 11 to the [...]
British Petroleum pulls out of PSO bidding
British Petroleum Plc said on Thursday it had withdrawn from a consortium bidding for a 51 percent stake in PSO after a “regular review” of its global refining and marketing business.
Early on Thursday Supreme Court ordered a delay to the privatisation until it rules on whether a Saudi-backed firm can enter the bidding, but a [...]
Hassan on Petronas’ future plans
Petronas president Tan Sri Hassan Marican, in a separate interview with Azam Aris and Surin Murugiah from The Edge Financial Daily after announcing its financial results for the year ended March 31, 2007, provides an insight into the company’s operations and future plans. Here are excerpts of the interview:
FD: Another record profit year for Petronas. [...]
Pakistan State Oil bidding may be delayed further
Pakistan may delay bidding for a controlling stake in the country’s top oil marketing company by several few weeks due to a legal wrangle over the disqualification of a Saudi-backed bidder, an official source said on Thursday.
The government, which is selling all but 3 percent of its 54 percent holding in Pakistan State oil , [...]
Uzbekistan harbors energy development plans
Russia is moving aggressively to help Uzbekistan fulfill ambitious energy development plans. Since the start of 2007, one Russian state-run energy entity has signed a new production sharing agreement with an Uzbek concern, and other Kremlin-controlled firms have moved forward on an array of separate deals.
The Uzbek state-owned oil and gas monopoly Uzbekneftegaz announced the [...]
UZBEKISTAN HARBORS ENERGY DEVELOPMENT PLANS; RUSSIA READY TO HELP
Russia is moving aggressively to help Uzbekistan fulfill ambitious energy development plans. Since the start of 2007, one Russian state-run energy entity has signed a new production sharing agreement with an Uzbek concern, and other Kremlin-controlled firms have moved forward on an array of separate deals.
Cairn aims to raise $1.4bn in launch of India’s biggest IPO
India’s biggest initial public offering starts today when Cairn Energy, the British oil and gas exploration company, launches its Indian subsidiary.
Nearly 329 million shares in Cairn India, or 18 per cent of the equity, go on sale to Indian investors in a high-profile launch expected to be heavily oversubscribed. The offer, which closes on Friday, [...]
