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India's PFC inks pact with Exim Bank
Published: May 16, 2008 at 12:31 PM
NEW DELHI, May 16 (UPI) -- India's Power Finance Corp. has signed an agreement with U.S. Exim Bank to receive an $800 million loan. -
India Oil to shelve refinery proposal
Published: May 16, 2008 at 12:09 PM
NEW DELHI, May 16 (UPI) -- State-run Indian Oil Corp. is contemplating shelving its 15 million-ton greenfield refinery in southern Tamil Nadu state. -
India won't cut duty on oil imports
Published: May 15, 2008 at 9:40 PM
NEW DELHI, May 15 (UPI) -- Indian Finance Minister P. Chidambaram said there will be no reduction in the duty charged on imported oil, despite soaring energy prices.
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Fall River fights five-year battle against LNG facility
Published: May 16, 2008 at 10:18 AM
By JOHN C.K. DALY
UPI International Correspondent
WASHINGTON, May 16 (UPI) -- A five-year struggle continues between Fall River, Mass., residents and Weaver's Cove Energy LLC over a proposed LNG facility. While the Federal Energy Regulatory Commission approved the project, the Coast Guard opposes it as an unacceptable safety risk. -
UPI Energy Watch
Published: May 15, 2008 at 12:19 PM
OPEC cuts estimate of growth in world oil demand for 2008; The United Arab Emirates' crude oil output increased last month; Philippine government may cut taxes on oil and gas -
Nigerian militants attack oil vessel
Published: May 15, 2008 at 11:10 AM
By CARMEN GENTILE
UPI Energy Correspondent
Jimmy Carter and Barack Obama have called for a resolution to the conflict between rebels intent on crippling Nigeria's petroleum industry and government officials. -
Mongolia, coal and inflation
Published: May 14, 2008 at 7:56 PM
By JOHN C.K. DALY
UPI International Correspondent
WASHINGTON, May 14 (UPI) -- Rising fuel and food costs are hitting Mongolia hard, with foreign investors exploiting the situation to pressure the country to open up its economy. Given the country's political isolation, sandwiched between China and Russia, its two major trading partners, Ulaanbaatar is being held over the proverbial barrel in negotiations with its giant neighbors, leaving its population of 2.9 million nervously awaiting further aftershocks from rising inflation. -
Congress blocks administration from stockpiling oil
Published: May 14, 2008 at 7:28 PM
By ROSALIE WESTENSKOW
UPI Correspondent
WASHINGTON, May 14 (UPI) -- Faced with growing pressure to decrease gas prices, U.S. senators voted to stop stockpiling oil in the national reserve yesterday, but they rejected a plan to increase domestic production. -
UPI Energy Watch
Published: May 14, 2008 at 3:47 PM
IEA: Developing nations cause high oil prices; New oil, gas fields will add to Indonesia supply; Australia says oil, gas tax breaks to go
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Petrel gets Iraq extension, ready for deal
Published: Feb. 21, 2008 at 6:39 PM
BAGHDAD, Feb. 21 (UPI) -- Ireland's Petrel Resources has received a one-year extension on its Iraq oil project and has registered for future deals, the company said.
The extension is in relation to the agreement to provide training and technology to Iraq's Oil Ministry for the Marjan oil field.
It is also moving forward on a project to assist the Iraqi State Co. for Oil Projects in developing the Subba & Luhais fields in southern Iraq. Petrel's contract, signed in 2005, is a $197 million deal to help engineer, procure equipment and supervise construction of the fields' expected oil and natural gas production.
The Oil Ministry is expected to offer more contracts for bid later this year and gave Feb. 18 as a deadline to register for qualification, which the company said it did.
"We are very pleased to have begun the process which will see us moving from managing technical studies and EPC projects to becoming a fully fledged exploration and production operation," said David Horgan, Petrel managing director. "Our longstanding experience in Iraq will give us vital first mover and technical advantage over competitors."
The company, which touts its work being done with little security incidents, expects an invite to discuss opportunities to develop the Western Desert Block 6. It has studied it since 2000, but deals with Saddam Hussein aren't guaranteed to be honored.
The extension is in relation to the agreement to provide training and technology to Iraq's Oil Ministry for the Marjan oil field.
It is also moving forward on a project to assist the Iraqi State Co. for Oil Projects in developing the Subba & Luhais fields in southern Iraq. Petrel's contract, signed in 2005, is a $197 million deal to help engineer, procure equipment and supervise construction of the fields' expected oil and natural gas production.
The Oil Ministry is expected to offer more contracts for bid later this year and gave Feb. 18 as a deadline to register for qualification, which the company said it did.
"We are very pleased to have begun the process which will see us moving from managing technical studies and EPC projects to becoming a fully fledged exploration and production operation," said David Horgan, Petrel managing director. "Our longstanding experience in Iraq will give us vital first mover and technical advantage over competitors."
The company, which touts its work being done with little security incidents, expects an invite to discuss opportunities to develop the Western Desert Block 6. It has studied it since 2000, but deals with Saddam Hussein aren't guaranteed to be honored.
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This material may not be reproduced, redistributed, or manipulated in any form.
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