India to invest more in Indonesia
India would like to expand bilateral business and trade relations by investing more in Indonesia, Indian Ambassador Gurjit Singh said here at a business roundtable where opportunities in various sectors like infrastructure, mining, energy, oil and gas, and food processing were discussed. Singh met Soekarwo, governor of East Java province, and said that the focus was on investment, capacity ...
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British energy major BP to buy back stake in Rosneft
LONDON - British energy major BP Thursday announced plans to buy back $8 billion of shares in Russia's Rosneft from investors after completing the sale of 50 per cent of Russian oil producer TNK-BP. In the first buyback since 2008, it will see BP return to the original amount invested in the joint venture 10 years ago, the London-based company said in a statement. The transactions, in line ...
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BP led group to invest over $500mn in North Sea appraisal project
LONDON - British energy major BP together with Shell, ConocoPhillips and Chevron have agreed to jointly invest more than $500million (330million pounds) over the next two years to test the viability of a new development at the giant Clair field in the North Sea. The companies announced on Thursday that they would drill at least five appraisal wells over the next two years, potentially ...
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Over 70 companies to take part in Brazil oil auction
A total of 71 oil companies are expected to take part in an auction of Brazilian exploration blocks next month, the National Petroleum Agency, or ANP, said. The list includes Spanish companies CEPSA and Repsol, as well as Colombia's Ecopetrol, Hupecol and Trayectoria and Panama's Pacific and Petrosynergy. Also among the prospective bidders are Exxon and Chevron, France's Total, Italy's Enel, ...
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US retail sales dip across all sectors
WASHINGTON - US consumer sentiments seem to have been hit by the recent rise in taxes with retail sales in March dipping across all sectors, official figures released Friday show. The US Commerce Department stated Friday that advance estimates of U.S. retail and food services sales for March, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, ...
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Significant oil find by Statoil in North Sea
OSLO - Norwegian energy giant Statoil Friday announced 'significant" new discovery in the Gullfaks field in the North Sea that could yield between 40 and 150 million barrels of crude oil. Located in the Tampen area in the northern North Sea, Gullfaks came on stream on 22 December 1986. The field development consists of three permanent installations, which have produced more than 2.4 billion ...
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South Stream gas pipeline
Slovenian Prime Minister Alenka Bratusek said Russia's construction of the South Stream gas pipeline remains a priority for her country, which pursues economic development and foreign ...
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Oil factory damaged after fire in Hapur
A fire broke out at an oil factory in Uttar Pradesh's Hapur District on Friday morning. The incident took place in Hapur and was reported to the fire department when locals saw smoke emanating from the factory. However, no loss of human life was reported. The fire fighters struggled to douse the flames and prevented it from spreading to nearby areas. The cause of the fire and the extent of ...
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