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PAI, the French private equity group, has reportedly joined the list of potential bidders for the liquefied petroleum gas distribution and marketing business of Royal Dutch/Shell

THE TIMES (UK): Need to Know: PAI, the French private equity group, has reportedly joined the list of potential bidders for the liquefied petroleum gas distribution and marketing business of Royal Dutch/Shell

June 01, 2005

 

Regal Petroleum, the troubled London oil exploration company, cut the level of oil reserves for its Greek operation from 80 million barrels to 24 million barrels, and reported an increase in full-year after-tax losses to $13.7 million (£7.5 million), from a $2.9 million loss last time, sending its shares down.

 

Mikhail Khodorkovsky, once Russia’s richest man and the former chief executive of its Yukos oil group, was sentenced to nine years in prison for tax evasion, after what many regarded as a politically motivated trial in Moscow.

 

PAI, the French private equity group, has reportedly joined the list of potential bidders for the liquefied petroleum gas distribution and marketing business of Royal Dutch/Shell, the Anglo-Dutch oil major.

 

Vedanta Resources, the London-based metals group, completed the key expansion of a new zinc smelter in India for about 15 per cent less than the $425 million budget.

 

BHP Billiton, the diversified miner, has increased its stake in WMC Resources, its Australian takeover target, from 6.7 per cent to 13.3 per cent, ahead of Friday’s bid deadline.

 

D1 Oils, the biodiesel fuel group, said it was on course to produce some 800,000 tonnes of biodiesel per year within the next four years as the AIM- listed group reported increased full-year pre-tax losses of £3 million, against £704,000 the year before.

 

Falkland Oil and Gas, the AIM-listed company, has raised £10 million to fund an expansion of its seismic surveys in the South Atlantic.

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