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Thailand’s Energy Company Agree To Buy Stake In Strait Asia For Support Coal Mines Exploration Project
PTT Pcl, Thailand’s biggest energy company, agreed to buy 60 percent of Straits Resources Ltd.’s controlling stake in Straits Asia Resources Ltd. for as much as $335 million, to add coal mines in Indonesia.
Strait Asia Resources Plans To Increase Coal Mine Production to 20 million tones by 2012
In Reuters news online reported, Singapore listed Straits Asia Resources aims to more than double its annual coal production to 20 million tonnes by 2012 and may acquire two Indonesian coal mines to achieve that target.
Mining Exploration and Producer Company, Singapore’s Straits Asia Resources Buys $100 mln Coal Mine Exploration Rights in Madagascar and Brunei
Singapore’s Straits Asia Resources Ltd will purchase coal exploration rights in Madagascar and Brunei for $100 million from its controlling shareholder Australian miner Straits Resources Ltd.
Straits Asia, 47-percent owned by Straits Resources, said in a statement on Friday this included licenses in Madagascar with an exploration target of finding 300 million to 500 million tonnes [...]
Church opposes oil exploration in Phillipines
The Bohol archdiocese has strongly opposed against the oil exploration in Bohol province in the face of a new oil drilling project in four of its towns. In a pastoral statement, Tagbilaran, Bohol Archbishop Leonardo Medroso said the local clergy is “appalled” that the seismic survey was conducted in the seawaters of Panglao, Dauis, Maribojoc [...]
IPIC targets $20 billion investment
Abu Dhabi’s IPIC plans an aggressive move into oil and gas exploration and production and aims to double its investment portfolio to $20 billion in the next five years, IPIC’s new managing director said yesterday.
The International Petroleum Investment Company, IPIC, invests in oil related projects for the government of Abu Dhabi, which controls more than [...]
Iran Says Oil Weapon Not Excluded In Nuclear Standoff
Iran Tuesday refused to rule out using oil supplies as a weapon in the standoff over its nuclear programme, saying Washington had never excluded attacking the Islamic republic. “When the Americans say that using the military option against Iran regarding its nuclear issue is not off the table then Iran can say that it will [...]
Experts cautious on Malaysian oil pipeline
Oil industry players have given only cautious approval to Malaysia’s multi-billion-dollar northern pipeline project, citing slowing oil demand in the Asian region and cost concerns.
The owner of the project has said it will cost seven billion dollars over seven years to build, with the aim of transporting Middle East oil to East Asia by diverting [...]
Oil shortage could spark conflicts in Africa: Swedish institute
The prospect of a future scarcity of oil and gas could lead to conflicts in Africa, the Stockholm International Peace Research Institute (SIPRI) said Monday.
“Although most states would regard actual armed conflict as an extreme measure, intra-state conflicts with an energy resource dimension are likely to occur, particularly in Africa,” the institute warned in its [...]
Aabar Petroleum completed drilling and testing operations on the Makassar
The Makassar Straits-3 (”MS-3″) well was drilled to a total depth of 5,000 feet and encountered 122.5 feet of net gas pay over a gross pay interval of 260 feet. Under testing, the well flowed at a rate of 39.2 million cubic feet per day (”mmcfd”) through a 96/64 inch choke. The gas stream comprised [...]
