Ecopetrol Buying Propilco
Colombia Polyethylene (PE) producer Ecopetrol is expanding its business portfolio towards Polypropylene (PP) by acquiring Columbia's PP producer Propilco for $690 deal. If successful, Ecopetrol will be the sole producer of polyetheylene and polypropylene in Columbia.
Business analysts is expecting that the acquisition will boost the company's earnings as it would have an enormous strategic value for Ecopetrol since its upstream synergies in exploration, production, refining can be channeled down to the rest of the petrochemical chain. Ecopetrol inevitably will be the largest petrochemical company in Columbia after the acquisition.
Business analysts is expecting that the acquisition will boost the company's earnings as it would have an enormous strategic value for Ecopetrol since its upstream synergies in exploration, production, refining can be channeled down to the rest of the petrochemical chain. Ecopetrol inevitably will be the largest petrochemical company in Columbia after the acquisition.
Tullow Oil Selling Pakistan Oil & Gas Investments
Following the recent assassination of Pakistan Prime Minister's Benazir Bhutto, another Oil & Gas company,
Tullow Oil PLC is preparing to sell its oil and natural gas operations in Pakistan. The investments for sale include two producing gas fields covering a range of exploration, development and production activities inadvertently indicating the recent instability in Pakistan.
The news came as a shock since Tullow is fairly established in oil and gas activities in Pakistan which starts in early 1991.
Speculations are also in the air that Tullow had decided to exit Pakistan even before the Bhutto's assassination due to the political instability of Pakistan. One of the major factors is the growing restrictions to conduct business where Tullow had been unable to continue working on five exploratory wells in Balochistan due to the current law and order situation.
Tullow's assets in Pakistan include a 75% stake in the Chachar 25 million cubic feet per day natural gas field in the Middle Indus region, 38% of Sara Suri field producing 400 barrels a day and exploration licenses encompassing a 1,107 square kilometer Kohat block with a prospect of 50 million barrels of oil.
Business analysts are predicting the selling of Pakistan assets due to Tullow's recent discovery of light oil in Ghana and eventually would enlarging its dominance in Africa.
Tullow Oil PLC is preparing to sell its oil and natural gas operations in Pakistan. The investments for sale include two producing gas fields covering a range of exploration, development and production activities inadvertently indicating the recent instability in Pakistan.
The news came as a shock since Tullow is fairly established in oil and gas activities in Pakistan which starts in early 1991.
Speculations are also in the air that Tullow had decided to exit Pakistan even before the Bhutto's assassination due to the political instability of Pakistan. One of the major factors is the growing restrictions to conduct business where Tullow had been unable to continue working on five exploratory wells in Balochistan due to the current law and order situation.
Tullow's assets in Pakistan include a 75% stake in the Chachar 25 million cubic feet per day natural gas field in the Middle Indus region, 38% of Sara Suri field producing 400 barrels a day and exploration licenses encompassing a 1,107 square kilometer Kohat block with a prospect of 50 million barrels of oil.
Business analysts are predicting the selling of Pakistan assets due to Tullow's recent discovery of light oil in Ghana and eventually would enlarging its dominance in Africa.
Malaysia and Iran Signed Agreement on Golshan & Ferdowsi Fields Development Contract
The Iranian government had signed an agreement with the Malaysian authority to jointly develop the Golshan and Ferdowsi gas fields in Iran. The two ministers, Iranian Oil Minister Gholamhossein Nozari and Malaysian Ambassador Monshe Afdzaruddin made the what possibly could be multi billion dollar deals on January 15th 2008.
The deal was between two companies National Iranian Oil Company (NIOC) and Malaysia's Al-Bukhari Foundation. The MoU (Memorandum of Understanding) worth US$16 billion for the gas fields will be developed by SKS Ventures of Al-Bukhari Foundation for LNG production units.
Golshan field holds 42 to 56 trillion cubic feet (tcf) of in-place gas while the Ferdowsi field has estimated in situ gas reserves of 9 to 13 10 tcf. Iran is the world's second-largest after Russia, amount to 971.150 tcf (more than 26 tcm). The country is progressively looking at partners and foreign investment to develop its gas fields both to cover domestic consumption and fulfill its gas export plans for Europe and Eastern Asia.
The deal was between two companies National Iranian Oil Company (NIOC) and Malaysia's Al-Bukhari Foundation. The MoU (Memorandum of Understanding) worth US$16 billion for the gas fields will be developed by SKS Ventures of Al-Bukhari Foundation for LNG production units.
Golshan field holds 42 to 56 trillion cubic feet (tcf) of in-place gas while the Ferdowsi field has estimated in situ gas reserves of 9 to 13 10 tcf. Iran is the world's second-largest after Russia, amount to 971.150 tcf (more than 26 tcm). The country is progressively looking at partners and foreign investment to develop its gas fields both to cover domestic consumption and fulfill its gas export plans for Europe and Eastern Asia.
Egypt, Jordan & Syria Signed Gas Pipeling Agreement
An agreement of what could be seen as more than just economic ties has been signed between Egypt, Jordan & Syria for a gas pipeline that will extend the current Arab Gas Grid pipeline to as far as Turkey.
This deal will ultimately being a stepping stone to a more collaborative Middle Eastern countries and a passageway of Middle East to the world through Turkey. This means the Middle Eastern gas originating from Egypt will be gone transit to Turkey and to the vast European markets and to the whole world.
The agreement also allows Turkey to have the right to take up to 1.5 bcm of gas for its domestic needs. The winning bid will be constructing a 62km pipeline between the northern Syria city of Aleppo and the south-eastern Turkish city of Kilis, both at the borders of each country.
The question now remains whether Jordan and Syria will be paying the same gas price as Turkish and the LNG importers of Europe?
This deal will ultimately being a stepping stone to a more collaborative Middle Eastern countries and a passageway of Middle East to the world through Turkey. This means the Middle Eastern gas originating from Egypt will be gone transit to Turkey and to the vast European markets and to the whole world.
The agreement also allows Turkey to have the right to take up to 1.5 bcm of gas for its domestic needs. The winning bid will be constructing a 62km pipeline between the northern Syria city of Aleppo and the south-eastern Turkish city of Kilis, both at the borders of each country.
The question now remains whether Jordan and Syria will be paying the same gas price as Turkish and the LNG importers of Europe?
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