India's Sterlite says buying US copper firm Asarco for 2.6 bln dlrs

India's Sterlite says buying US copper firm Asarco for 2.6 bln dlrs
AFP - Sunday, June 1 07:04 am

NEW DELHI (AFP) - India's metals and mining company Sterlite Industries said it has signed a deal to buy US copper mining company Asarco for 2.6 billion dollars.

Sterlite, a subsidiary of British mining group Vedanta Resources, will acquire three open-pit copper mines, a copper smelter and a refinery among other assets, the company said in a statement on Saturday.

"We are delighted to have reached agreement on this important acquisition. which is a significant milestone for our group," Sterlite chairman Anil Agarwal said in the statement.

The acquisition will make Sterlite the world's third largest copper producer.

Asarco, formerly known as American Smelting and Refining Company, is the third largest copper producer in the United States. It produced 235,000 tonnes of refined copper in 2007.

The agreement with Asarco marks the biggest takeover of a US firm by an Indian company, and is the latest in a series of foreign acquisitions by Indian business groups.

Last year, Tata group staged India's biggest foreign takeover when it bought Britain's steelmaker Corus for 13.7 billion dollars.

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新日石など、石油製品アジアに輸出　海外比率１割突破へ

　石油元売り大手がアジア向けを中心とする石油製品輸出を一斉に増やす。新日本石油は2008年度に前年度比6割拡大、出光興産や昭和シェル石油も伸ばす計画で、日本の燃料油販売に占める輸出の比率は初めて1割を超す見込み。経済成長を続けるアジアでは軽油や重油の需給が逼迫（ひっぱく）して価格が高騰、日本の石油製品の競争力が増している。日本各社が国内市場縮小に対応して輸出に踏み出すことは、原油高に直面するアジア各国の需給緩和にも寄与しそうだ。

　最大手の新日石は08年度に軽油やジェット燃料などを07年度比6割増の約580万キロリットル輸出する計画。中国や東南アジア向けが中心で、10年度には同85％増の約680万キロリットルまで増やす考えだ。大阪製油所など6カ所の製油所で計40億円を投資。輸出用タンクや船に積み込むための配管を増強する。

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Gazprom, LUKOIL discover large oil field in Caspian

31.05.2008, 01.41

MOSCOW, May 31 (Itar-Tass) -- A joint venture of Russia’s gas giant Gazprom and oil major LUKOIL has discovered a large off-shore oil and gas condensate field in the Caspian Sea, the press-services of both companies earlier this week.

The Tsentralnaya structure, where the new field lies, is in the center of the Caspian Sea’s middle part, on the border between Russia and Kazakhstan. It took the joint venture, TsentrKaspneftegaz, just one exploration well to strike oil.

The exploration work is proceeding. Three-dimensional seismic exploration will be employed to identify the field’s size and outline.

The Tsentralnaya Structure lies within the Russian sector of the Caspian Sea, 150 kilometers east of Makhachkala. Under an agreement between Russia and Kazakhstan the structure was placed under Russia’s jurisdiction. All commercial reserves of hydrocarbons that may be discovered shall be developed by the two countries on equitable terms.

The TsentrKaspneftegaz joint venture Gazprom and LUKOIL established back in 2003 on the parity basis acts in the capacity of Russia’s authorized operator of the Tsentralnaya structure. The KazMunaiGaz oil company is the authorized operator representing Kazakhstan.