Pertamina opens office in Iraq<\/p>\n
JAKARTA: Indonesia's national oil and gas company Pertamina
\nopened an office in Iraq last month and expects to start oil and
\ngas exploration in the country early next year, an official said
\non Monday.<\/p>\n
Pertamina's President Director Ariffi Nawawi told reporters
\nthe company will invest around US$20 million during the
\nexploration stage.<\/p>\n
Last year, Iraq's former government awarded Pertamina the
\nWestern Desert block, which is estimated to have 3 million
\nbarrels of crude oil.<\/p>\n
The U.S.-led military invasion into Iraq that toppled Saddam
\nHussein delayed Pertamina's plan to start exploration in the
\ncountry in March.<\/p>\n
Pertamina is also keen on exploring the Tuba Block, which is
\nestimated to hold larger oil reserves than the Western Desert
\nBlock. --Dow Jones<\/p>\n
;AFP;
\nANPAf..r..
\nBrief-China-Germany
\nMetro to open 40 stores in China
\nJP\/14\/brief2<\/p>\n
Metro to open 40 stores in China<\/p>\n
SHANGHAI: Metro AG, the German retail and distribution giant,
\nsaid Monday it will press ahead with plans to invest 600 million
\neuros (US$700 million) to open 40 stores across China in the next
\nfive years.<\/p>\n
The expansion will add significantly to the company's existing
\n18 outlets in the east and northeast of the country, while
\ntripling its total investment in China.<\/p>\n
"Shanghai (gross domestic product) is forecast to grow more
\nthan 11 percent this year ... and it shows the potential for
\nShanghai especially but also China," company chairman Hans-
\nJoachim Koerber said at a briefing.<\/p>\n
Metro, the world's fifth largest retailer, recorded 600
\nmillion euros in sales in China last year although operations
\noverall have yet to net profits, he said.<\/p>\n
Competition, however, promises to remain stiff as Wal-Mart
\nStores has piled in with 26 outlets in China, while French
\nretailer Carrefour has opened 39. -- AFP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/pertamina-opens-office-in-iraq-1447899208",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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