The Basic Gateway to ICT Solutions Mr. Michael Fun, the Chief Executive of Basic Gateway, talks about how his company is working towards enhancing ICT security and network connectivity through strategic partnerships.
19th November 2009, Perdana Ballroom, Putrajaya International Convention Center, Putrajaya.
PAST ISSUES
ARCHIVES
Recently articles :
Full Size BP plc discovers huge oil reserves in Gulf of Mexico off US coast, cementing its position as the single largest producer of oil in the area.
Oil bounty in the Gulf of Mexico
A "giant discovery of oil" has been discovered by BP plc, Europe's second largest oil company at the Tiber Prospect in the US Gulf of Mexico. The find located 400km south east of Houston Texas will help boost output in the region by 50% or 600,000 barrels of oil per day beyond 2020, and will help affirm BP's position as the biggest producer of oil in the Gulf of Mexico, a position which they claimed from Shell in 2007. According to Robert Wine, a London-based BP spokesperson, the find is likely to be bigger than the 3 billion barrels of oil at the nearby Kaskida field.
"Tiber represents BP's second material discovery in the emerging lower tertiary play in the Gulf of Mexico, following our earlier Kaskida discovery. These material discoveries, together with our industry-leading acreage position, support the continuing growth of our deepwater Gulf of Mexico business into the second half of the next decade." - Andy Inglis, Chief Executive of Exploration and Production for BP.
80 billion barrel find in Brazil
A vast deposit of oil has been discovered by Petrobras together with Repsol YPF SA and BG Group plc, at the Santos Basin in Brazil. The find is estimated to be worth a staggering 80billion barrels of oil and gas and comes during a time when Petrobas has been trying to reassure international investors about their prospects recently.
The discovery was made as the Brazilian company's CEO Jose Sergio Gabrielli was in New York to reassure investors, of the Brazilian government's plans to allow the state to boost its stake in the company and make Petrobas the sole operator of so-called pre-salt fields. Seeing potential in the find, Gabrielli is enthusiastic about more finds in the Santos Basin, as Brazil holds the world's largest potential reserves and has the ability to "develop the entire supply chain and provide goods and services to the oil industry."
"We are the world's only major company that uses most of its production to feed its own refineries, which, in turn, market their products mainly in the domestic market. This characteristic is unique in the world." - Jose Sergio Gabrielli, the CEO of Petrobras.
Sinochem Bids for Nufarm
China's Sinochem Corp has offered US$2.4b in an attempt to take over Australia's Nufarm, which produces herbicides, fungicides and other farming chemicals. Nufarm has entered a non-binding proposal for Sinochem to buy all of its shares for US$11 each valuing the company at US$2.4b. The main area of interest for Sinochem is Nufarm's global distribution network which covers Asia, South America and Europe. The latest deal is still in the works, and is pending approval from Australia's foreign investment review board and government. Treasurer Wayne Swan has said he will only allow large foreign investment deals should they be of national interest. However according to Paul Xiradis, CEO of Fund Manager Ausbil Dexia - Nufarm's sale is not expected to raise the same amounts of concern over national interests which were the case in China's attempts to take over Australian mining concerns.
Siberia's doors opened
Russian Prime Minister Vladimir Putin has invited executives from some of the world's largest oil companies to discuss work on Siberia's natural gas fields. The meeting is to take place in the Yamal Peninsula in Salekhard which is rich in deposits of untapped natural gas, and comes only a few years after compelling foreign companies to renegotiate their contracts in Russia.
Gazprom which holds the natural gas monopoly in Russia had previously announced plans to develop the Yamal Peninsula. However that has been scaled back during the global recession due to financial constraints. Recently, executives from Exxon Mobil have expressed interest in developing the Yamal Peninsula. It is expected that Russian ministers will drive a hard bargain, as their deals will most likely allow foreign firms to access the reserves in return for sharing their technology with Russian companies, placing orders within local factories and eventually hiring Russian engineers to continue working on the development.
