CPC Corp, Taiwan (CPC, 鷋婼齌蕫) has acquired the rights to search for oil and gas in waters off Belize, one of the 23 countries that maintain diplomatic ties with Taiwan.
The state-owned refiner signed a contract with the Belize government for a 100 percent interest in a 4,800km昌 offshore block, CPC said in a statement on its Web site yesterday, without disclosing financial details.
The company, which has investments in Africa, Southeast Asia, the US, Australia and Latin America, is seeking to cut crude import costs by acquiring overseas oil assets, the statement said.
Belize, faced with high foreign debt, is eager to sell stakes in its oil fields to boost the government＊s revenue.
CPC last month bought a 30 percent share in a Kenyan exploration block from China National Offshore Oil Corp (齌?蕫), the parent of Hong Kong-listed Cnooc Ltd.
Bordering Mexico and Guatemala, Belize produced an estimated 3,000 barrels of oil a day in 2007 and has 6.7 billion barrels of proven reserves, the CIA World Factbook said.
By comparison, Venezuela produced 2.6 million barrels daily in 2007, the BP Statistical Review said.
When an apartment comes up for rent in Germany’s big cities, hundreds of prospective tenants often queue down the street to view it, but the acute shortage of affordable housing is getting scant attention ahead of today’s snap general election. “Housing is one of the main problems for people, but nobody talks about it, nobody takes it seriously,” said Andreas Ibel, president of Build Europe, an association representing housing developers. Migration and the sluggish economy top the list of voters’ concerns, but analysts say housing policy fails to break through as returns on investment take time to register, making the
EARLY TALKS: Measures under consideration include convincing allies to match US curbs, further restricting exports of AI chips or GPUs, and blocking Chinese investments US President Donald Trump’s administration is sketching out tougher versions of US semiconductor curbs and pressuring key allies to escalate their restrictions on China’s chip industry, an early indication the new US president plans to expand efforts that began under former US president Joe Biden to limit Beijing’s technological prowess. Trump officials recently met with their Japanese and Dutch counterparts about restricting Tokyo Electron Ltd and ASML Holding NV engineers from maintaining semiconductor gear in China, people familiar with the matter said. The aim, which was also a priority for Biden, is to see key allies match China curbs the US
The popular Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) arbitrage trade might soon see a change in dynamics that could affect the trading of the US listing versus the local one. And for anyone who wants to monetize the elevated premium, Goldman Sachs Group Inc highlights potential trades. A note from the bank’s sales desk published on Friday said that demand for TSMC’s Taipei-traded stock could rise as Taiwan’s regulator is considering an amendment to local exchange-traded funds’ (ETFs) ownership. The changes, which could come in the first half of this year, could push up the current 30 percent single-stock weight limit
NOT TO WORRY: Some people are concerned funds might continue moving out of the country, but the central bank said financial account outflows are not unusual in Taiwan Taiwan’s outbound investments hit a new high last year due to investments made by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and other major manufacturers to boost global expansion, the central bank said on Thursday. The net increase in outbound investments last year reached a record US$21.05 billion, while the net increase in outbound investments by Taiwanese residents reached a record US$31.98 billion, central bank data showed. Chen Fei-wen (陳斐紋), deputy director of the central bank’s Department of Economic Research, said the increase was largely due to TSMC’s efforts to expand production in the US and Japan. Investments by Vanguard International
RSS