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Friday, December 4, 2009

RIL in deal with Colombia's Ecopetrol

Energy major Reliance Industries said on Friday one of its units signed a deal with Colombian state oil firm Ecopetrol for two deepwater blocks in Colombia.

Under the deal, Ecopetrol will take a 20 percent stake in the Borojo North Block 42 and the Borojo South Block 43, which together cover an area of about 8,000 square kilometres in water depths ranging from 60-1,500 metres, Reliance said in a statement.

Reliance's unit will hold the rest of the stake in the blocks and will be their operator. The deal is subject to approval from Colombia's upstream regulator.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jun 26
18:00 Gross Domestic Product Price Index 2 3.8% 3.7% 3.7%
18:00 Continuing Jobless Claims 1 1.974M 1.950M 1.937M Revised from 1.945M
18:00 Initial Jobless Claims 4-week average 1 245.00K 245.75K Revised from 245.50K
18:00 Initial Jobless Claims 2 236K 245K 245K
18:00 Chicago Fed National Activity Index 1 -0.28 -0.25
18:30 Fed's Hammack speech 2
19:30 Pending Home Sales (MoM) 2 -0.3% -6.3%
19:30 Pending Home Sales (YoY) 1 -2.5%
20:00 EIA Natural Gas Storage Change 1 88B 95B
20:00 BoE's Lombardelli speech 2
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