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Saturday, June 14, 2008

ONGC Videsh ,IOC, OIL to invest in Iran gas field

ONGC Videsh, Indian Oil corporation and Oil India have together proposed to invest $ 3 billion in developing the Farsi gas field in Iran.

An official said the field holds recoverable gas reserve of about 12.8 tcf. The commercially proposal has been submitted to the Iranian authorities.

The block also holds 1 billion barrels of oil reserves.

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GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jun 26
18:55 Fed's Goolsbee speech 2
19:30 Pending Home Sales (MoM) 2 1.8% -0.3% -6.3%
19:30 Pending Home Sales (YoY) 1 1.1% -2.5%
20:00 EIA Natural Gas Storage Change 1 96B 88B 95B
20:00 BoE's Lombardelli speech 2
20:30 Kansas Fed Manufacturing Activity 1 -10
21:00 4-Week Bill Auction 1 4.06%
22:30 7-Year Note Auction 1 4.194%
22:45 Fed's Barr speech 2
Friday, Jun 27
03:30 ANZ – Roy Morgan Consumer Confidence 2 92.9
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