CVI 0.00% 0.3¢ cvi energy corporation limited

met with ms, page-35

  1. 9,445 Posts.
    Hi Mattyr

    I held back posting that while I studied which blocks were involved. I cannot come to any conclusion other than blocks 15/06, 17/06 and 18/06.
    Yes that same Falcon /CVI blocks that we have been discussing for the last few days.

    Sinopec of China and Angola's national oil firm Sonangol as equity participants ia a company known as SSI.
    SSI is in the blocks we are looking at.

    We can kiss the refinery GOODBYE.

    To show how seroius the Indians are here is another article.

    http://www.bloomberg.com/apps/news?pid=20601091&sid=avl1J0fNz598&refer=india


    March 31 (Bloomberg) -- India, Asia's third-largest consumer of oil, will focus on obtaining energy assets in Angola after failing to secure supplies closer to home.
    ``Angola is the next country where we are going to concentrate,'' Indian Oil Minister Murli Deora said in an interview in New Delhi. ``We lost because our bid wasn't good enough'' in previous auctions, he said. ``We have learned from this,'' the minister said.

    State-run explorers from India and China have submitted bids for oil blocks in Angola as the world's two most populous nations need imports to sustain economic growth. India's oil shortage has spurred Deora to turn to Angola, OPEC's fastest- growing member with reserves equivalent to 11 years of India's imports, after losing out to China in $10 billion of auctions.

    India's energy independence has been threatened because it hasn't been able to increase production at home, where output from three-decade-old fields is declining. India will also compete for oil in Nigeria, Africa's biggest producer, and Sudan.

    ``India has to acquire assets overseas. There is no other way,'' said Prashant Periwal, an analyst at B&K Securities in London. ``China has slowly and steadily spread across most of Africa and is sitting on huge resources. For fuel security, you have to take control of supplies.''
 
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