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China to Buy Oil Companies
A conference of officials from the National Energy Administration has agreed to consider establishing a special fund for China’s state-owned companies to buy oil and gas firms overseas. The beneficiaries would be the Beijing’s three giant energy companies – Petrochina, Sinopec and CNOOC.
"Firms will be able to benefit from low-interest loans and, in some cases, direct capital injections," according to China Petroleum Daily.
This state money would be used to fund takeovers or mergers with resource companies abroad. Which foreign firms, if any, have been identified for takeover has not been disclosed. But the dramatic fall in oil prices…
24Feb2009 | The Real Deal | 0 comments | ContinuedIndia’s Nuclear Generator a Cash Cow for Global Energy Firms
After being locked out of global nuclear trade for more than three decades, India is looking to lock up some major energy deals. Large global energy companies are lining up in droves to make sure that happens.
India launched its first nuclear test in 1974, but the country refused to sign the global Treaty on the Non-Proliferation of Nuclear Weapons (NPT). As a result, the 45-member Nuclear Suppliers Group (NSG) banned India from global nuclear trade.
That ban was lifted last September when Washington pushed through a “waiver” that freed India from 34 years of sanctions.
Critics of the deal worry that by lifting…
24Feb2009 | Money Morning | 0 comments | Continued
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