Petroleum industry
The Privatization Commission is evaluating a proposal to raise the percentage of shares available for small investors in the upcoming Initial Public Offering (IPO) of Pakistan Petroleum Limited (PPL) and Kot Addu Power Company (Kapco). The move aims to accommodate a larger number of smaller applicants and broaden the ownership
Gas industry
Fiscal policy in Azerbaijan was marked by a tight budget in the first eight months of 2002, with the state recording a deficit of Manat74.2bn (US$15.2m; 0.4% of GDP), compared to a target deficit of 1.2% of GDP for the year. Revenue was lower than
Gas industry
Azerbaijan's economic development has been underway since 2001, with the country's current International Monetary Fund (IMF) programme being a key driver of this growth. The three-year poverty reduction and growth facility loan of US$100m, agreed in July 2001, has aimed to reduce poverty and support
Petroleum industry
The construction of a massive petrochemical project is set to begin in East China's Fujian province at the end of next year, with a planned investment of 26.69 billion yuan (US$3.25 billion). A joint venture between Fujian Refinery Co., ExxonMobil, and Aramco Overseas Co (AOC)
Petroleum industry
A major petrochemical project worth over 26 billion yuan ($3.25 billion) is set to begin construction in the last quarter of 2003, according to a Chinese partner of the project. The joint venture, involving Fujian Refinery Co., ExxonMobil, and Aramco Overseas Co. (AOC), aims to increase refining capacity and
Energy industries
US energy group TXU has solidified its position as the UK's biggest electricity retailer after acquiring Norweb's supply business in a deal worth over £500m. The purchase of the business from United Utilities for £310m in cash adds 1.8m customers in north-west England to TXU&
Energy industries
CMS Energy Corporation's oil and gas exploration and production unit, CMS Oil and Gas Company, has made two substantial new discoveries in Texas, including a well that has flowed at a rate of 7.5 million cubic feet per day of gas. The discoveries, which are part of
Energy industries
Adrienne M. Levatino, a seasoned communications professional with over two decades of public affairs experience, has been appointed as the Communications Director at Commonwealth Edison (ComEd). Levatino brings a wealth of knowledge and expertise to the role, having previously served as ComEd's senior legislative counsel and lobbyist in
Energy industries
Primary Energy, Inc., a subsidiary of NiSource Inc., has partnered with BP Amoco to develop a natural gas-fired cogeneration facility at Whiting refinery in Indiana. The project, valued at approximately $250 million, will generate 525 megawatts of power and substantial steam production. The facility is expected to be operational by
Electric utilities
PP&L Resources Inc. has completed the acquisition of most of Bangor Hydro-Electric Co.'s power plants and transmission rights, securing its position in the region's energy market. Additionally, Hershey Foods Corp. is planning a significant expansion with a large warehouse and distribution center that could
Electric utilities
A significant change is underway for Texas-New Mexico Power Company (TNMP), as an investor group led by CIBC World Markets and William J. Catacosinos intends to acquire the company in a cash transaction worth approximately $1 billion. This acquisition will affect around $415 million of debt, and the debt and
Electric utilities
Illinova Energy Partners (IEP), a leading power marketing and energy management service company, has acquired Quality Energy Services (QES), a natural gas marketing company based in Tempe, Arizona. The acquisition marks a significant expansion of IEP's presence in Arizona, positioning the company for growth in the state'
