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Iran and Turkey Joint to Build Two Petrochemical Units
Turkey and Iran may jointly build two petrochemical units, state-run Press TV news channel reported, citing Iran’s Deputy Oil Minister.
Iran and Turkey are discussing construction of an urea and an ammonia unit in the industrial hub of Assaluyeh in southern Iran, Press TV said, citing Abdolhossein Bayat, who is also the managing director of National Iranian Petrochemical Co.
Talks include construction of a petrochemical plant in Miyandoab in western Azerbaijan province that can produce 539,000 tons of petrochemical products annually, the TV station reported.
Bayat, who...
Stocks and Dollar Dropped, Treasuries Rallied
Stocks and the dollar dropped and Treasuries rallied, sending the yield on the two-year note below 0.5 percent for the first time, as lower-than-estimated growth in company payrolls added to evidence the economic recovery is slowing. Gold extended the longest advance since November.
The Standard & Poor’s 500 Index lost 0.4 percent to 1,121.64 at 4 p.m. in New York, trimming a drop of as much as 1.7 percent. The Stoxx Europe 600 Index decreased 1.1 percent, reversing earlier gains. Two-year Treasury yields fell to as low as 0.4977 percent. The dollar slumped to an eight-month low...
India Oil & Natural Gas Corp May Borrow $10 Billion to Buy Oil Assets
Oil & Natural Gas Corp., India’s biggest energy explorer, may borrow $10 billion over the next decade as it competes with rivals from China and South Korea to buy oil assets overseas to meet domestic fuel demand.
“We still have surplus funds in our treasury and I’m not happy to be a zero-debt company,” Chairman R.S. Sharma said in a March 5 interview at his office in New Delhi. “We would like to borrow and leverage that for expanding our business.”
Kuwait Energy Company Announces New Oil Discovery in Burg El-Arab, Egyptian
Kuwait Energy Company, one of the fastest growing independent oil and gas exploration...
Stock Trade of Mining Companies On Russian Stock Market : Lukoil, Norilsk Nickel, Polyus Gold
The following companies may be active in Russian trading. Stock symbols are in parentheses...
Natural Gas Market Trend May Be Bad News for BP As Well As Gazprom
BP has been making some interesting points about the outlook for the natural gas market, most recently in a very thoughtful...
Rusian Steelmaker, Severstal Consider To Seel Shares for Gold Unit in 2010
OAO Severstal, Russia’s largest steelmaker, is considering whether to sell shares of its gold- mining unit after the price of the metal rose to a record, said two people familiar with the situation.
Severstal may hold an initial public offering late next year or in early 2011, said the people, who declined to be identified because the deliberations are private.
Kinross Gold Corp. Plans To Acquire Mining Asset in America, Rusia and Ghana
Kinross Gold Corporation is planning to acquire mining assets in North and South America, Russia and Ghana to stay out of countries such as China, which is currently the world’s top gold producer. Toronto-based Kinross will continue to build on its operations spread throughout the Americas, and around its Kupol mine in eastern Russia. Kinross sees higher political risk at Venezuela, China, Indonesia and PNG (Papua New Guinea).