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China’s Oil Trio Domestic Exploration Costs Surge – Woodmac
Despite concerns about intensifying competition between China and the West for energy resources, China’s listed oil trio increased their spending on domestic exploration and production from 2004 to 2006 by more than their total international expenditure last year.
According to a report by UK-based oil & gas consultancy Wood Mackenzie, PetroChina Co. (PTR), Cnooc Ltd. (CEO) [...]
UBS to help manage PetroChina IPO
PetroChina, China’s largest oil and gas group, has chosen UBS to help raise up to $6bn in what is poised to be one of the biggest listings on the country’s mainland market.
PetroChina is the latest big state-owned company to decide to seek a Shanghai listing, underlining Beijing’s efforts to damp investor exuberance by increasing the [...]
Global Competitors Clamor for Kazakhstan’s Oil
Kazakhstan is in the midst of an oil boom that has made it one of the fastest-growing economies in the world. The oil revenues are transforming what was once a remote backwater that served as a gulag for hundreds of thousands of Soviets deported by Joseph Stalin into an economic powerhouse in Central Asia. [...]
UBS Is Hired for PetroChina’s $5.9 Billion Shanghai Share Sale
UBS AG has been hired by PetroChina Co. to arrange what may become China’s biggest share sale this year, raising as much as $5.9 billion, people with direct knowledge of the decision said.
UBS Securities Co., the China venture of Europe’s largest bank by assets, won a mandate for PetroChina’s share sale, the people said, asking [...]
Uranium Funds Points to Near-Term U3O8 Price Decline
Nuclear Market Review [NMR] editor Treva Klingbiel reported in this week’s issue, “Two sellers that were evaluating bids in response to their auctions have concluded their evaluations and have decided not to sell at this time.” She added, “Both sellers preferred to make delivery in June while most bidders were seeking delivery for several months [...]
Sterling Firm Exports To Nigeria And Beyond
The international transaction between a Sterling and Nigerian company began with an e-mail inquiry.
Kayode Thomas, the Nigeria- and UK-based CEO and managing director of Bell Oil & Gas, contacted Inovex Industries about distributing its Virginia-made products in the oil-rich west African nation. Thomas found Inovex online and wanted to distribute its tire sealants first in [...]
South Africa: Why Country is China’s Africa Favourite
THE acquisition late last year by Larry Yung Chi Kun, the son of former Chinese vice-president Rong Yiren, of an $800m slice of the South African company Anglo American sent shock waves through the international business community. Suddenly, as Kun became the fifth-richest man in SA, the world realised that China’s communists had become the [...]
Coal Surge Seen by Mobius as China’s Imports Increase (Update2)
Coal is poised to rebound from a two-year slump as China buys more than it exports for the first time in history.
Power use in China, the world’s biggest coal producer, is rising 13 percent annually, and utilities are building plants at a record pace. The nation gets 78 percent of its electricity from coal, spurring [...]
Fierce competition in scramble for Libya’s black gold
After 20 years of isolation, Libya has become the destination of choice for hungry oil companies ready to cut any kind of deal to get a piece of the north African state’s oil riches.
“It’s a race for our black gold,” president of the National Oil Company Shukri Ghanem told AFP. “We are organising it like [...]
