Daily Archives: October 22, 2010

Coal India’s record $3.5bn share sale might be in great demand – it was subscribed more than 15 times the offering – but accounting errors that emerged in its IPO prospectus on Friday are a reminder that the state-run group has poor corporate governance standards. Read more

Shares in Transneft, the Russian oil pipeline monopoly, were trading down over 2 per cent on Friday morning, having slipped close to 6 per cent on Thursday after the Kremlin confirmed it would not be included in its planned $60bn in asset sales. But investors hoping to buy some of the assets on sale shouldn’t be too disheartened. Read more

Sheila McNulty

Chevron’s announcement that it will lead a $7.5bn investment in the deepwater Gulf of Mexico underlines how eager the industry is to get back out there despite BP’s accident. Read more

FT Energy Source

- Chevron to develop in the Gulf of Mexico – FT
- For Chevron, two giant Gulf drilling ventures – NY Times Green blog
- Iraq to begin paying oil companies next year – WSJ (£)
- Cnooc said to bid $5bn with GNPC for Kosmos Jubilee assets – Bloomberg
- New rules for tapping Africa’s abundant oil – Business Week
- Temasek to buy stake in Brazilian oil services group – FT
- UK gets gas boost from French strike – The Times (£)
- Vedanta facing legal action over refinery – FT
- US offers $1.5bn aid for biofuel production – Reuters
- Figures show massive slump in UK sales of new electric cars – The Guardian
- Coal India IPO powers Indian stocks – FT Read more