2nd September 2010
Ahmed Jamal says it isn’t primarily Iraq’s violence that deters his company from investing in the country. It is its weak business laws.
“We don’t have factories or warehouses or anything like that,” said Jamal, regional sales manager for Istanbul-based beverage distributor Hayat Su, which brings bottled water to Iraq in trucks and works through a local representative. “The investment laws are not suitable.”
The U.S. yesterday formally ended its combat role in Iraq and inaugurated “Opera...
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2nd September 2010
Petroleo Brasileiro SA, Latin America’s largest company by market value, agreed to pay the Brazilian government $42.5 billion in new stock for the right to develop 5 billion barrels of offshore oil reserves.
Petrobras, as the state-run company is known, will pay an average of $8.51 a barrel for the oil after almost two weeks of negotiations with the government, according to a regulatory filing yesterday. More than half the oil will come from the Franco field in the offshore Santos Basin, the...
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2nd September 2010
OAO Rosneft may buy oil fields in the Volga River region from OAO Tatneft, Vedomosti reported, citing Tatneft first deputy chief Azat Yagafarov.
Rosneft said its interest in the 20 licenses in the Samara region held by Tatneft depends on how fully Tatneft has met the terms of the permits, the Moscow-based newspaper said today. The fields may hold a combined 12.5 million tons (92 million barrels) of oil, according to Vedomosti.
by Enresol Information Desk...
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