Shell puts Thai assets up for sale

Article Abstract:

As crude oil prices have dropped to their lowest level for 25 years, Shell, the oil company is to sell its upstream activities in Thailand as it focuses on core activities. Around nine companies are expected to bid for a stake in the US$ 300mn business including Petronas, the Malaysian state oil company, when Shell announces the tender invitation on 29 June 1998. At present Shell operates a number of assets including the S1 onshore block and the B6/27 concession, but the proposed sale will not affect its downstream activities in Thailand, principally a 64% stake in the Rayong refinery, and the chemicals business operated by Shell Thailand.

Comment:

Will sell its upstream activities in Thailand to focus on core activities as crude oil prices drop to lowest level in 25 yrs

Asset sales & divestitures, Crude Petroleum and Natural Gas Extraction, Crude Petroleum & Natural Gas, Petroleum industry, Natural gas, Petroleum, Gas industry, Royal Dutch-Shell PLC

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Energy Group quits Thailand venture

Article Abstract:

Energy Group, the UK utility which owns the electricity supplier Eastern, is to withdraw from a joint venture to build a coal-fired power station in Thailand. The company had planned to invest in Full Power Corporation which would have built a 550-megawatt station in the Hualien region on the north east coast. It is uncertain whether Eastern had invested money in the project, and whether there would be any liability for fines now being levied on Full Power for failure to honour electricity supply contracts.

Comment:

Will withdraw from joint venture to build coal-fired power station in Thailand

Fossil Fuel Electric Power Generation, Coal Thermal Electric Power, Coal fired power plants, Energy Group PLC

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FRANCE: PILKINGTON/INTERPANE TO OPEN PLANT

Article Abstract:

Glass manufacturers Pilkington and Interpane International Glas have announced a joint venture to establish a new plant in Lorraine, France. The new plant will be operated jointly by both companies and is due to begin production in 2002. The Lorraine facility is expected to be the largest glass plant in Europe and will cost some GB[pound] 100mn.

Foreign operations, France, Flat Glass, Flat Glass Manufacturing, Joint ventures, Glass industry, Pilkington PLC

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