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Deal Signed for Myanmar Oil Exploration
Two little-known foreign companies have signed a deal for offshore oil and gas exploration with the state-owned Myanmar Oil and Gas Enterprise, state-run media reported Sunday.
A report in the New Light of Myanmar newspaper identified the companies as “Rimbunan Petrogas Ltd established in British Virgins Island and UNOG Pte Ltd formed in Singapore” and said [...]
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 [...]
Total to invest six billion in Indonesia oil and gas
French oil giant Total plans to invest another six billion dollars in Indonesia over the next five years, chairman Thierry Desmarest announced as Jakarta said it wanted better terms before extending key oil and gas contracts.
“We plan to continue with many projects and we will increase by six billion dollars our investment in oil and [...]
Oil & gas to fuel UMW earnings
UMW Holdings Bhd expects the oil and gas sector, into which it began a serious push five years ago, to contribute a quarter to its bottom line for 2007 compared with 20% last year.
UMW managing director Datuk Dr Abdul Halim Harun said the greater contribution would come from the pipes plants in China and Malaysia [...]
Downhole Products Wins Azerbaijan Contract from BP
Downhole Products Plc, a manufacturer of specialist oilfield equipment for the international upstream oil and gas industries, said that it has been awarded a contract by BP Exploration (Caspian Sea) Ltd to provide a comprehensive range of specialist casing and cementing accessories for use in the Azerbaijan sector of the Caspian Sea.
The five-year contract, [...]
Paramount Gold Strengthens Management Team With 2 Appointments — COO and Independent Director
Paramount Gold Mining Corp. (OTC: PGDP) (Frankfurt: P6G, WKN: A0HGKQ) is pleased to announce that Larry Segerstrom has been appointed Chief Operating Officer and Daniel Hachey has been named to the Board of Directors.
Commenting on the appointments, Chris Crupi, President and CFO, stated, “Paramount is committed to building a strong, experienced and results-oriented team of [...]
China press review for November 29, 2006 – the evening papers
The following is a digest of China newspapers published on Nov. 29. Interfax does not accept liability for information in these stories.
Government and Policy
The Chinese government will investigate all pharmaceutical advertisements from December 1 to 31. (Economic Daily p1)
China’s government spent half of its water conservancy budget in rural areas. (Economic Daily p5)
The Chinese government [...]
3 Malaysian plantations to merge, create world’s largest palm oil company
Three Malaysian government-linked palm oil companies will merge to create the world’s biggest palm oil business worth around 31.4 billion ringgit (US$8.66 billion; €6.62 billion), officials said Monday.
The merger, which the government hopes will cut costs and streamline the industry, would also potentially create the world’s largest biofuels producer.
In a complex deal pushed forward by [...]
Newmont CEO Murdy advocates environmentally and socially responsible gold mining
Newmont Chairman and CEO Wayne Murdy stresses that the duties of today’s mining CEOs emphasize environmental protection and social responsibilities as well as shareholder return and mining gold.
Nevertheless, the former Chair of the International Council on Mining and Metals also believes that mining gets blamed for problems and issues that realistically fall into the purview [...]
