At 0316 GMT, shares of Golden Agri-Resources (GAGR.SI) gained 2.5%, Indofood Agri Resources (IFAR.SI) rose 3.2% and First Resources (FRLD.SI) added 1.9%.
The first oil pipeline linking the world’s biggest oil producer, Russia, and the world’s biggest consumer of energy, China, has begun operating. The pipeline, running between Siberia and the northeastern Chinese city of Daqing, will allow a rapid increase in oil exports between the two countries.
Advanced Holdings, the global supplier of proprietary process equipment and technologies, clean energy solutions and environmental technologies, today announced that it has clinched new oil & gas contracts worth $12.1 million. All these projects are expected to be completed and delivered in 2011. The projects include design and fabrication of shell and tube heat exchangers in Vietnam as well as fabrication of marine risers to be used by offshore oil rig companies.
{jcomments on}
The Serbian government has decided to allow free oil and oil derivates import and free forming of oil derivates prices in the market starting January 1, 2011.
The decision has repealed Oil Industry of Serbia (NIS) monopoly on oil derivates import which will liberalize the domestic market after years of waiting.
Former Russian oil tycoon Mikhail Khodorkovsky and his business partner Platon Lebedev were declared guilty in their second trial, RIA Novosti reports.
The Khamovniki court said Khodorkovsky and Lebedev had headed an organized group committing financial crimes in Russia’s oil business via their oil company Yukos.
Serbia will liberalize its oil derivatives market on January 1, ending the monopoly of the Oil Industry of Serbia (NIS). Analysts believe that this should “improve the quality of fuel and bring down the prices”.
BP and the government famously declared that most of the oil had disappeared.But as I’ve noted, as much as 98% of the oil is still in the ocean.I have repeatedly pointed out that BP and the government applied massive amounts of dispersant to the Gulf O…
Top Asian trader Hin Leong Trading has submitted a proposal to the Singapore government to build a large state-of-the-art refinery, two industry sources with direct knowledge of the plan said on Wednesday.
The plant, expected to cost US$6-8 billion ($7.9-10.5 billion), is slated to process at least 500,000 barrel-per-day of oil and take a maximum of three and a half years to build, possibly in partnership with a Chinese state oil firm, the sources said.
Singapore’s biggest local oil trader Hin Leong Trading is teaming up with one of China’s top four national oil firms and possibly a European partner to set up a US$6-8 billion ($7.9-$10.5 billion), 300,000-500,000 barrel-per-day refinery in the city-state, the local press reported today.
The planned greenfield project, for which memoranda of understanding have been signed, will be located on Jurong Island and will make Singapore the world’s third largest oil refining and trading hub after Houston and Rotterdam, it was reported.
Wilmar (F34.SG) is off 0.2% at $5.94, as investors pay little heed to its investment in a Nigerian food ingredients business with PZ Cussons (PZC.LN).
Its shares are down 13.5% since the release of weak 3Q10 results in November, due to the persistent risk of more margin pressures on its edible oil and oil seeds crushing businesses.
Technics Oil & Gas says the company has received approval from the Taiwan Central Bank and in-principle approval to the proposed TDR issue from the GreTai Securities Market of Taiwan. Technics says it will next seek approval from Taiwan Financial Supervisory Commission, Executive Yuan, Securities and Futures Bureau.
{jcomments on}
A Moscow court has delayed its verdict on the politically charged case of a former oil tycoon, Deutsche Welle reports. Mikhail Khodorkovsky is standing trial on charges of embezzling oil worth billions of dollars.
Here are this week’s updates on the Gulf:“We keep seeing this foam coming in just about everyday†— “They keep spraying†dispersant says Emergency Operations Center workerFeds now ignoring workers who report being sprayed by Corexit (VIDE…
An unknown quantity of Gulf seafood is tainted with oil and/or dispersant. See this, this, this, this, this, this, this, this, this, this, this, this, this, this, this and this.Some have speculated that Gulf seafood would be quietly sold to makers of …
Noble Group’s <NOBG.SI> shares rose 2.4% to $2.12 at 0215 GMT, with over 8.2 million shares changing hands. Olam International <OLAM.SI> rose 1.6% to $3.20.
Singapore shares may open higher on Friday after Keppel Corp (KPLM.SI), the world’s biggest oil rig builder, announced a US$360 million ($470.7 million) deal and commodities firm Olam International (OLAM.SI) said it had entered a US$200 million Nigerian sugar venture.
Wall Street rallied for a second day overnight as concerns about Europe’s sovereign debt crisis waned, forcing investors to reverse bearish bets on the market. Singapore’s benchmark Straits Times Index <.FTSTI> was up 0.50% on Thursday to 3,197.96 points. Here are some stocks and factors to watch say Bloomberg and Thomson Reuters:
SIAS Research in a Nov 30 research report says: “Technics announced that its 51% owned subsidiary, Norr Systems Pte Ltd was awarded the contract for the turnkey construction of two vessels accompanied with a seven years service contract.
Matti Lehmus will become the head of the new unit. He has been the head of the oil products business.
Interra Resources says unit, Goldpetrol Joint Operating Company Inc., has completed development well YNG 3236 and started drilling for oil recently in the Yenangyaung field in central Myanmar.
I have repeatedly documented the detrimental impacts of dispersants on humans, wildlife and seafood safety. See this, this, this, this, this, this and this.As I noted in September, scientists from Oregon State University found elevated levels of poly…
