Gas exporters to study cartel: plan for OPEC-like bloc wins show of support; a long-range concept

Article Abstract:

The 14 nations that comprise the Gas Exporting Countries Forum have agreed to examine the possibility of creating an entity for the gas industry similar to the Organization of the Petroleum Exporting Countries. Industry observers are wary of the impact such an entity would have on gas supplies; the European Union has announced it will promote other sources of power if a cartel is formed.

Europe, Conferences, meetings and seminars, International aspects, Aims and objectives

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Melrose high-yield deal dies as sentiment sours

Article Abstract:

UK gas company Melrose Resources PLC withdrew plans to become the first European firm to sell a high-yield bond issue after the emergence of the credit problems beginning this summer. Although Melrose had sufficient demand for the $363 mil offering, current credit conditions made a yield of 11% necessary, rather than the 10% to 10.25% initially estimated.

Planning, Company business planning, Bond issues, Melrose Resources PLC

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Cairn sets IPO price for Indian unit

Article Abstract:

Cairn Energy PLC of the United Kingdom is planning an initial public offering of its subsidiary Cairn India. Price per share is set at 160 Rupees ($3.60), giving the gas company a valuation of 282.45 billion Rupees. Cairn India is the largest petroleum and gas exploration and development company in India.

Foreign operations, India, Parent-to-subsidiary activities, Subsidiary-to-parent activities, Going public (Securities), Initial public offerings, Company public offering, Cairn Energy PLC, Company overview, Subsidiaries, divisions and units, Financial report

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