Turkmenistan says can ship 10 bcm/yr via Nabucco

•November 21, 2009 • Leave a Comment

By Marat Gurt

https://i2.wp.com/www.stratfor.com/files/mmf/b/7/b7e4632ea8ee98145b0999a4a8055c880db1749e.jpgASHGABAT, Nov 19 (Reuters) – Turkmenistan is ready to export up to a third of natural gas required to fill the EU-backed Nabucco pipeline as soon as it comes on stream, a Turkmen government source told Reuters on Thursday.

Europe, seeking to ease its dependence on Russian gas, has long courted the gas-rich former Soviet republic as an alternative source of new energy.

Turkmenistan has long expressed willingness to supply Nabucco but has yet to take any real steps towards joining it.

“Obviously, we are ready to supply gas for Nabucco when it reaches us,” said a Turkmen government official who asked not to be named. “As early as next year, 10 bcm can be exported from the Turkmen Caspian shelf where Petronas is working.” Continue reading ‘Turkmenistan says can ship 10 bcm/yr via Nabucco’

CNPC swaps asset interest with Petronas in Sudan and signs oil refining deal

•November 20, 2009 • Leave a Comment

Photo - see captionChina National Petroleum Corp., CNPC, has signed agreements with Sudan to expand a refinery in Khartoum and swap oil production assets.

CNPC will swap shareholding in Block 6 with Malaysia’s Petroliam Nasional Bhd.’s, Petronas, Block 5A in Sudan, the Beijing-based company and parent of PetroChina Co. said in a statement, without giving details. Continue reading ‘CNPC swaps asset interest with Petronas in Sudan and signs oil refining deal’

Toyota out of F1, Lotus failed to woo Petronas

•November 5, 2009 • Leave a Comment

Fairuz is likely to be part of the Lotus F1 Team as a test  driver with  possibilities of him taking up a race seat.WITH one stroke of a Japanese pen yesterday, a new twist unfolded for the future of Formula One and a new scenario for the Lotus F1 team.

It took just the first piece of bad news on Toyota’s pullout from F1 for a handful of opportunities to emerge and much concerns Malaysia’s F1 hopeful Fairuz Fauzy.

As a result of Toyota’s move, it is imminent that Sauber, the victims of BMW’s pullout from F1 previously, will be back in keeping the projection of 13 teams to start next season. Continue reading ‘Toyota out of F1, Lotus failed to woo Petronas’

Petronas to extend Sauber deal at 2010

•November 5, 2009 • 1 Comment

Click to enlarge [Petronas to Extend Sauber Deal for 2010 - pic 1]Bad news for Frank Williams after Toyota’s departure! Although the Grove based organization parted ways with the Japanese manufacturer last month in order to ink a deal with British company Cosworth, Toyota’s quit might affect them in other ways too.

For example, it will leave a spot open for a 13th entry in the 2010 Formula One championship, the vacancy becoming the perfect opportunity for BMW Sauber to stay in the series for another season. If BMW’s Mario Theissen will convince the FIA members – and there’s no reason why he shouldn’t succeed – to grant the Swiss team with the vacant spot, Peter Sauber will most likely keep all his former sponsors for 2010 as well. Continue reading ‘Petronas to extend Sauber deal at 2010’

Force India/Lotus Espionage Scandal Looms in F1

•November 5, 2009 • Leave a Comment

Click to enlarge [Andy Stevenson (GBR) Force India F1 Team Manager and Mike Gascoyne (GBR) Force India F1 Chief Technical Officer, back in 2008]Max Mosley may not be the president of the FIA anymore, but that doesn’t mean the scandals in Formula One will cease with immediate effect. After the spy-gate back in 2007 and the crash-gate earlier this year, another espionage drama is on the verge of making the headlines worldwide.

The scandal concerns Force India and its former employee Mike Gascoyne. According to a report shown by Switzerland’s Motorsport Aktuell – a magazine with a great deal of insight into F1 racing – it seems that the latest wind tunnel model presented by newly entrants Lotus F1 Team in October is a copy of Force India’s challenger for 2010. Continue reading ‘Force India/Lotus Espionage Scandal Looms in F1’

Petronas Will Continue To Sponsor F1 Race

•November 5, 2009 • Leave a Comment

KUALA LUMPUR, Nov 5 (Bernama) — Petronas says it will continue to be the title sponsor of the Petronas Malaysian F1 Grand Prix which has proven to be an effective platform to promote Malaysia on the global stage.

In a statement issued to Bernama Thursday, the national oil corporation said its participation and investment in Formula One – and in other sports – had always been based and was built on partnerships that provided direct support towards its business expansion, while complementing international branding efforts.

“This requires Petronas to constantly review, evaluate and explore its position and involvement in international motor sports,” it said. Continue reading ‘Petronas Will Continue To Sponsor F1 Race’

Iran’s OEOC in deals with Lukoil, Petronas

•November 4, 2009 • Leave a Comment

TEHRAN, 02 November 2009 – Iran’s Oil Exploration Operations Company (OEOC) has signed two contracts with Russian Lukoil and Malaysian Petronas to carry out projects in Uzbekistan.

OEOC Managing Director Hasan Mohammadi-Moqaddam added that the company has inked a $15-million deal with Lukoil to conduct 3D seismic operations in Uzbekistan’s Gissar oil block within 12 months, the Islamic Republic of Iran Broadcasting reported on Saturday.

“We also inked a $20-million contract with Petronas to implement similar operations in Surkhansi oil block within 53 weeks,” he added.

The OEOC will be responsible for analyzing the data from the exploration operations, the official further said.