Canada's Natural Resources Minister reiterated that only 'strategic' and under 'exceptional circumstances' would state backed enterprises be allowed to takeover in Canada.
Energy
Sinopec of China Enters into Agreements with CPC of Taiwan
The neighbors at the Formosa Strait are now in agreement as to oil and gas explorations in Myanmar. Sinopec Group, the largest Asian oil refiner, had announced last Thursday that it had entered into an agreement to sell its 30% shareholdings in an oil and gas block located in Myanmar.
IFC Provides Loan Facility for Acme Solar Energy
IFC has forged a US$50 million credit facility for Acme Solar Energy projects. The World Bank's private sector finance arm, the International Finance Corp, has plans to loan as much as US$50 million to an Indian solar power developer in order to finance the building and operation of key power projects.
KazMunaiGas to Issue US Dollar Denominated Bonds
KazMunaiGas are preparing two tranches of Eurobond issues each with a nominal value of US$200 million.
Vitol Purchases Assets from Rialto
Vitol purchases Rialto assets in Ghana and Ivory Coast for upstream financing. Vitol, the oil trader has purchased shareholdings in Rialto Energy's West African oil and gas exploration assets in order to improve and expand its channels for energy supplies.
Latest News
ABB is acquiring Power-One amidst the growing solar power industry. ABB Ltd has entered into an agreement with Power-One Inc for the latter's acquisition for a sum price of US$1 billion.
JP Morgan advises investment cutbacks in light of Gazprom dividend and other factors. JP Morgan Chase & Co has advised its clients to reduce its shareholdings in Russian stocks as OAO Gazprom has proposed a dividend cut.
The beleaguered OGX Petroleo is seeking stake sales of oil interests with Petronas and Lukoil. The flagship corporation of Brazilian mogul Eike Bautista, OGX Petroleo e Gas SA, is in negotations to sell off its 40% shareholdings to Russia's Lukoil.
BP is now undertaking a specific review of Mad Dog 2 as to the economies of scale and profits. British Petroleum is currently taking a new look at its oil project in the Gulf of Mexico.
Sinopec's bond sale is the largest debt sale in Asia outside of Japan. In a recent announcement, China Petroleum and Chemical Corporation has raised a total of US$3.
Tohiba and SunEdison have entered into an agreement to build megasolar plants. Toshiba Corp and a unit of MEMC Electronic Materials Inc, SunEdison have entered into an agreement to build solar power plants in Japan.
SolarWorld is seeking to find a compromise agreement with its creditors to avoid insolvency. SolarWorld is discussing with its creditors to finalize an agreement as to the restructuring of the company in the next two to three weeks.
Oando is purchasing ConocoPhillips assets in Nigeria and many see the firm struggling to find the equity for investments purposes.
Bord Gais announces sale of Bord Gais Energy to the 'usual names'. Irish utility firm Bord Gais is in the process of concluding the sale of its retail unit in 2013.
