2008-08-28T20:58:41+01:00 text/html 1970-01-01T00:00:00+01:00 http://www.assaluyeh.com/main-en.php Ariana Shargh Co. http://www.assaluyeh.com A key Brazilian petroleum company which has already been awarded the Ceypetco fuel oil contract is looking at investing in oil exploration and becoming the next player in the petroleum market in Sri Lanka. Petrobras Singapore Private Limited was awarded a three month term contract to supply the Ceypetco with fuel oil to the value of US$70 million following discussions with the government, the company’s local agent Tradis Holdings Managing Director Rizly Illyas told the Daily Financial Times. The Brazilian Ambassador Pedro Henrique Lopes Borio during a meeting with Petroleum and Petroleum Resources Development Minister A.H.M. Fowzie had discussed the fuel oil contract to be used in thermo-electrical plants over the next few months. text/html 1970-01-01T00:00:00+01:00 http://www.assaluyeh.com/main-en.php Ariana Shargh Co. http://www.assaluyeh.com Azerbaijan, Baku, 12 August /TrendCapital corr. A.Badalova/ European countries will get interested in transportation of Iranian gas via Turkey to Europe, international experts said to Trend Capital. Iran and Turkey achieved an agreement on production, export and prices of the natural gas extracted from Iran’s South Pars field. A part of the gas will be used in Turkey and a part will be exported to Europe. According to outline agreement, Turkey will invest $3bln in South Pars gas deposits. Carlo Stagnaro, Director of the Energy & Environment Department at the Bruno Leoni Institute, believes that Iran, as a source of gas, would help Europe to diversify its imports. “Iran, as a source of gas, would help Europe to diversify its imports in the same way as the other Caspian countries would do, and in this way it would make Europe more secure and flexible,” Stagnaro said to Trend Capital via e-mail. According to the Italian expert, Europe will have a major interest in gas exporter alternatives. According to Ahmad Jansiz, Iranian expert and a political scientist on international issues, despite of the sanctions, the European countries want Iranian gas to be transported to Europe with minimum investments. “The European countries are well aware that they will be profited by the Iranian gas delivery to these countries through Turkey,” Jansiz said to Trend Capital in a telephone conversation. According to Jansiz, the European countries’ trust for the Russian gas reduced. “Relations between Russia and Ukraine and the possibility of suspension of the Russian gas delivery to the European countries make Europeans seek alternative cheap ways,” Iranian expert said. Europe needs gas of any country, Pinar Ipek, an expert of the Turkish Bilkent University, said to Trend Capital in a telephone conversation. “At present three countries – Russia, Norway and Algeria - meet the European Union’s (EU) gas demand, with the key role belonging to Russia,” she said. text/html 1970-01-01T00:00:00+01:00 http://www.assaluyeh.com/main-en.php Ariana Shargh Co. http://www.assaluyeh.com While in conversation with an industry source based in the Middle East, a polymerupdate team member was informed that plans are in progress by the Arya Sasol Polymer Company of Iran for restarting its LDPE plant at Assaluyeh. The plant has a production capacity of 300,000 mt/year. The source said, " the company is hoping to restart production of LDPE at the plant within next month. The company attempted to restart the plant several times text/html 1970-01-01T00:00:00+01:00 http://www.assaluyeh.com/main-en.php Ariana Shargh Co. http://www.assaluyeh.com Registering 60 inventions, National Iranian Petrochemical Company stood in 56th place among the world"s top 100 companies last year, a senior petrochemical official said. According to PIN, managing director of NIPC Gholamhossein Nejabat added the company could register 60 petrochemical inventions in global and domestic centers last year. text/html 1970-01-01T00:00:00+01:00 http://www.assaluyeh.com/main-en.php Ariana Shargh Co. http://www.assaluyeh.com Manager of National Iranian Oil Company for exploration affairs announced the discovery of 4 new oil and gas fields bearing about 3.7bn barrels of in-place oil and 1.5bn cm of gas following the exploration operation implemented last year. According to PIN, Mahmoud Mohaddes added of which Jofeir oil field was made following a drilling operation resulted in a 750-million-barrel-of-oil discovery situated in Fahilan oil-bearing geological formation at the depth of 4700 meter. text/html 1970-01-01T00:00:00+01:00 http://www.assaluyeh.com/main-en.php Ariana Shargh Co. http://www.assaluyeh.com Oil and gas exploration company Continental Energy Corp. has agreed to purchase 30 percent working interest in the oil and gas rich Tungkal Sharing Contract in Sumatra, Indonesia, for $27.3 million. Dallas-based Continental Energy (OTC:CPPXF) has already placed a cash deposit of $1.5 million toward the transaction. The down payment will be followed by an additional $13.5 million cash payment, adjusted for production income since June 1, as well as the issuance of 12.3 million Series-A preferred shares, valued at $1 each. The transaction is still contingent on the approvals of Indonesian authorities and other interested parties. text/html 1970-01-01T00:00:00+01:00 http://www.assaluyeh.com/main-en.php Ariana Shargh Co. http://www.assaluyeh.com Doug Cameron of Dow Jones Newswires has this report on the increasing use of options by oil companies. Major oil companies are continuing to shift their hedging strategies by using options more frequently, according to the head of IntercontinentalExchange Inc., who on Monday defended its recent loss of market share to arch-rival Nymex Holdings Inc. ICE and Nymex, operator of the New York Mercantile Exchange, are the two largest global venues for trading energy derivatives, and both have benefited from the surge in oil prices and volatility. “There’s a very bearish sentiment now in the crude oil market, so it may be that prices remain flat,” said Jeff Sprecher, chairman and CEO of Atlanta-based ICE. Nymex executives last week trumpeted a recent rise in its share of WTI trading, the most liquid oil future, while average daily volumes in the London-based energy trading platform run by ICE were flat in July. ICE also trades the Brent crude contract as well as gas and power contracts through its ICE Futures Europe unit.