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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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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Apr 09
22:30 10-Year Note Auction 1 4.435% 4.310%
23:30 FOMC Minutes 3
Thursday, Apr 10
02:20 Fed's Hammack speech 2
03:00 Fed's Kashkari speech 2
04:31 RICS Housing Price Balance 1 2% 8% 11%
15:30 RBA Governor Bullock speech 3
18:00 Initial Jobless Claims 4-week average 1 223K
18:00 Initial Jobless Claims 2 223K 219K
18:00 Continuing Jobless Claims 1 1.880M 1.903M
18:00 Building Permits (MoM) 1 -0.8% -3.2%
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