piston broke-----there is a lot of truth in what you say imo, but cynic also brings a sense of reality and not getting carried away with the euphoria of it all. Long may he keep posting.
2517

Good morning.Yesterday volume 1m+ shares. Break above 150p rise of 25%+ by end of year.More with HCL & contracts. aimvho.

Syria Plans $3 Billion Refinery to Process Iraqi Oil

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05 November 2007 (Bloomberg)
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Syria plans to build a $3 billion oil refinery with a Kuwaiti partner, part of an effort to more than double the country's capacity and process crude oil from neighboring Iraq, Syrian Oil Minister Sufian al-Alao said.

Noor Financial Investment, a Kuwait-based investment firm, will announce on Nov. 5 the creation of a company to build the plant in the eastern Syrian province of Deir Ezzor, the second new Syrian refinery announced in a week. The country wants to reduce imports of oil products such as gasoil, al-Alao said yesterday in an interview in Egypt's Red Sea resort of Sharm El Sheikh.

The new refineries will eventually allow Syria to import, process and export Iraqi crude, offsetting its own declining supply. Iraq's oil exports through Syria, which had contravened United Nations sanctions, stopped in 2003 after the U.S.-led invasion of Iraq.

Noor and Syrian partners will offer shares in the company to the public and to Syrian expatriates, the minister said.

State companies from Venezuela, Iran and Syria and a Malaysian private company announced plans this week to build a refinery near Homs, in central Syria. The $2.6 billion plant, to be completed in four years, will process crude oil from Venezuela, Iran and Syria, al-Alao said.

Middle Eastern nations, including Saudi Arabia, the world's top oil producer, have announced plans to add refining capacity as a global shortage of such plants contributes to surging fuel prices. Crude oil reached a record $94.46 a barrel yesterday in New York.

New Refineries, Upgrades

The two new Syrian refineries will each have a capacity of about 140,000 barrels a day, he said. Syria's refining capacity now stands at 220,000 barrels a day, split about equally between a plant in Homs, and another in the port city of Banias. The government has also allocated $1 billion to upgrade the Banias refinery, al-Alao said.

Syria's crude production will fall to 360,000 barrels a day next year from 380,000 barrels a day this year, al-Alao predicted. Syrian oil production peaked at 600,000 barrels a day in 1996, according to BP Plc's Statistical Review of World Energy.

Syria is now importing about 60,000 to 70,000 barrels a day of gasoil, a fuel used for heating and transportation that accounts for half its consumption of refined products.

The government yesterday began implementing a decision to reduce subsidies on gasoline in an effort to cut government spending costs and curb smuggling to neighboring countries, the state-run newspaper Ath-Thawra reported. Fuel subsidies cost the government 350 billion Syrian pounds ($6.8 billion), or 65 percent of its budget, the newspaper said.

On line 150.65p v 152p

Break above 149p.Very positive.Bullish rise.Comfortable steady rise to 170p.Target is higher.

Al Maliki declares victory over terrorism

Tuesday, November 06, 2007 09:22 GMT

Prime Minister Nuri Al Maliki declared victory over terrorism and armed groups in a rare tour he conducted in Baghdad. Al Maliki met in Abu Nuwas Street with Iraq soccer players, confirming that life is returning to normal in Iraqi streets.
On the other hand, a number of politicians have criticized promises taken by Prime Minister Al Maliki when meeting with US Secretary of State Condoleeza Rice in Istanbul vowing to ratify important laws in Parliament. On this point, the politicians explained that laws ratification goes to the legislative authority.

BREAKOUT.

Regards Al Maliki's victory on terrorism, imv that's a dangerous thing to say, it could incite more violence. sp doing nicely
2517

George,security is improving,progress is being made.

Prime Minister Wanders around Baghdad Areas




Baghdad, Nov.6 p2
Prime Minister Dr. Norri al-Maliki checked yesterday many areas of Baghdad after the noticeable stability situation shown in the Iraqi families returning back to their normal marketing or promenading in public parks.



Maliki ordered opening all the closed roads after the great achieved victories by the government on the terrorists.

lex1000----I have no doubt that things are improving, I just felt it was a dangerous thing to say, that's all.
2517

2517GEORGE, it is a statement of fact.Car bombings reduced almost down to zero in some Sunni areas & positive movement towards unity. Traders have returned to some streets,people are returning to Iraq and life returning back to normal.Iraq is not 100% safe or normal in western terms,long way to go,progress and improvements there for all to see.

Maliki telling it as it is.PET related news, conditions improved for ratification of HCL.PET has always worked in Southern Iraq with no security issues.PET strong relationship local leaders & militia and have backing Ministry of Oil.Investors in the know aware PET have been asked to be ready to sign contractS...if not signed already!

Simon K - 6 Nov'07 - 10:01 - 13182 of 13202

All much more positive on Al Jazeera tv re progress in Iraq

Frankfurt quoting 155.94p v 158.74p

i bought more today lex

.

Scotinvestor,well done.As far as I am concerned PET one of the best investments to be had.Risks diminishing by the day with massive potential upside.Bought and topped up to my limit.Fully invested.

German exchange Buyers paying 160.83p for the next Cairn Energy in the making.lol

GSE tick up^

Al-Attiyah: calls for the launch of an initiative to break the political deadlock

Tuesday, 06 November 2007

The First Deputy Speaker of the House Iraqi Sheikh Khalid Al-Attiyah the need to launch a political initiative to move the political stalemate following the improvement of the security situation in the country and said during his meeting with a chief adviser to the Ministry of Foreign Affairs of America (David Satterfield), "it is necessary to proceed very far in the political initiative involving components three major concessions and submit to move the political reality, which will help the House to approve the strategic and important laws, such as the oil and accountability, justice and law and the law of provincial distribution of financial resources. "

sportbilly1976 - 6 Nov'07 - 13:02 - 13291 of 13291


the 190p is a technical target based purely on the breakout from the pennant formation.

Zak Mir is a chartist, and his target is based on:

peak of pennant, 156p
base of pennant, ~85p

vertical distance = 71p
apex of pennant = 125p

therefore target = 125+71 = 196p

pixi - 6 Nov'07 - 13:09 - 13295 of 13335


The HCL will be done and dusted by the end of this year. What is of concern to me is how Petrel will benefit way down the line. I have complete faith in the management: 2007 the year of the Pet.

The secret of investment is to buy and not to sell until the investment has run its course.