subject: Glorious Oil investment and News on development of Oil Industries [print this page] Glorious Oil investment and News on development of Oil Industries
Yemen is blooming in the Oil exploration field more than a dozen of global companies are competing for performing oil exploration in the Yemen, and this report was declared by the Ministry of Oil and Minerals. The President Ali Abdullah Saleh in the conference declared that, the country is cordially inviting investors and companies to invest in Yemen and he assured that the improved investment law in the country will benefit the investors. He also mentioned that, the country contains ample oil and gas sources and they require large companies and investors having a great zeal to take part in this exploration arena. The president elucidated, the there are nearly 33 companies involved in the oil and natural gas exploration from the past three decades and it will be unimaginable to explore the oil wells without huge capital investments.
Rasheed Mohamed Rasheed, the Minister of Trade and Industry in Egypt declared that, lately there was a meeting conducted with the official of the Essar Group for the oil refinery venture and these refineries will yield around 300 thousand barrels each day. The recent listings of Oil wells for sale and Gas wells for sale available in Oil Investment . The General Authority for Investment of the Egypt declared that many Indian companies such as the Reliance Industries managed by Mr. Mukesh Ambani, Gas Authority of India Ltd are vying to invest in the oil and natural gas sector in the Egypt. Essar Group, the business behemoth is planning to embark on the trade of oil refinery in the northern parts of the Egypt and the veteran minster of Egypt articulated that, the Essar Group has computed to invest around $3.4 billion and recently the company has performed the feasibility study.
The Mizuho Corporate Bank is flourishing in versatile sectors such as furnishing loans for the local banks, financial institutions and blending with foreign companies and finally it provides guarantee for the amount invested by the investors in their project.Mizuho Corporate Bank Ltd the Japanese bank has penned an agreement with the PetroVietnam Joint stock Finance Corporation and the Viet Nam National Oil and Gas Group and the aim of the joint venture is to fortify the kinship the Ha Noi parties. According to this understanding the Mizuho Corporate Bank will be furnishing funds to the PetroVietnam with the help of the global and Japanese capital markets, multinational companies and foreign trade credit associations. Nguyen Tien Dung, the deputy director of the PetroVietnam mentioned that, the joint venture requires about $100 billion to plan its enhancement schemes till 2015.
