India looks to Taiwan for partnership possibilities

cheresources.com ^ | Dateline: April 5, 2005 | cheresources.com online chemical resources

[Allosaurs_r_us]

In an unpublicized visit, a delegation of private sector oil and fertilizer companies from India visited Taiwan to explore the possibility of cooperation in the petroleum industry. The discussions centered on forging an alliance between the private sector oil companies to pool in their respective strengths for mutual benefit. They also discussed the possibilities of complementing the Taiwanese companies' marketing skills with Indian managerial expertise and technical manpower. Companies involved included China Petroleum Corporation, Dairen Corporation, USI Corporation, International Petrochemicals Group, Formosa Petrochemicals Corporation and Morning Star Group.

[Allosaurs_r_us]

"Companies involved included China Petroleum Corporation"

 

Kinda shoots down some of the comments on previous threads that India is not cooperating with China in the oil industry, don't it?

 

I have been told on previous threads that China and India are darned near arch enemies. So what is this little tid bit of collusion?

 

Why would India need or want to be involved with China Petroleum? Both countries are considered to be energy poor when it comes to oil.

 

Can't be that pipeline coming out of Iran, since that oil is never going to leave India. </sarcasm>

[Allosaurs_r_us]

Ping!

[watsonfellow]

You are quite mistaken.

China Petroleum Corp is a Taiwanese company, not a Mainland Chinese company.

Very many Taiwanese companies have "China" in their name, such as China Air et al.

[Gunrunner2]

Thanks for the ping. Always like to hear from you.

[Gengis Khan]

"China Petroleum Corp is a Taiwanese company, not a Mainland Chinese company."

--- There you go.

[sukhoi-30mki]

& Why would Indian companies go to Taiwan to negotiate with mainland Chinese companies????India like most nations recognises only the PRC.So why go to a 3rd nation!!!

[Allosaurs_r_us]

"China Petroleum Corp is a Taiwanese company, not a Mainland Chinese company."

 

China Petroleum & Chemical Corporation (Sinopec Corp.) is a publicly listed company with integrated upstream and downstream operations, prominent core businesses and a complete marketing network. The Company was set up on February 28, 2000 by China Petrochemical Corporation (Sinopec Group) as the sole sponsor, pursuant to the Company Law of the People's Republic of China and in line with the principle of "separation of core business from non-core business, performing assets from non-performing assets, and enterprise functions from the social", through the restructuring of its business portfolio, assets, debts and creditor's rights, organization and personnel. The rationale behind the creation of Sinopec Corp. was to "diversify the ownership structure, abide by the rules of the market economy, and establish a modern enterprise system". Sinopec Corp. issued 16.78 billion H shares in Hong Kong, New York and London on Oct. 18th and 19th, 2000. The Company floated 2.8 billion A shares in Shanghai Stock Exchange on July 16th, 2001. The Company¡¯s existing total number of shares is 86.702 billion, of which 67.92% is held by the State through Sinopec Group, 9.5% by domestic banks and assets management companies (AMCs), 19.35% by foreign investors and 3.23% by investors at home.

Sinopec Corp. is one of the largest integrated energy and chemical companies in China. (emphasis added) The scope of its business mainly covers oil and gas exploration, development, production and marketing; oil refining; production and sales of petrochemicals, chemical fibers, chemical fertilizers and other chemical products; storage and pipeline transportation of crude oil and natural gas; import, export and import/export agency business of crude oil, natural gas, refined oil products, petrochemicals, chemicals, and other commodities and technologies; research, development and application of technology and information. It is China¡¯s largest producer and distributor of oil products (both wholesale and retail of gasoline, diesel, jet fuel) and No.1 producer and supplier of major petrochemical products (including petrochemical intermediates, synthetic resin, synthetic fiber monomers and polymers, synthetic fiber and chemical fertilizer) as well as the 2nd largest crude oil producer

 

Hmmm........your comment doesn't hold any water bub.

[sukhoi-30mki]

There's no mention of Sinopec Corp anywhere.

Here is the 'Chinese Petroleum Corporation'.Name sounds pretty similar & so does areas of functioning.Only thing is that this is Taiwanese

http://eng.cpc.com.tw/

[Allosaurs_r_us]

"Thanks for the ping"

 

No prob. Looks like the usual suspects showed up in record time......LOL

[sukhoi-30mki]

Here gorge on this(a much more detailed source)-


Private Indian oil firms look to Taiwan for partnership

New Delhi, March 28: A delegation of private sector oil and fertiliser companies from India has returned from Taiwan after exploring the possibility of cooperation in the petroleum industry.

The unpublicised visit of the delegation March 15-19 came at a time when India and China, two of the world's largest oil consumers, have been looking at cooperation in the strategic oil sector, particularly to avoid unhealthy competition in bidding for oil blocks in third countries as they search for energy security.

A top official of the Nagarjuna Group of Andhra Pradesh headed the delegation, which included senior officials of two Chennai-based companies. The Nagarjuna Group has a strong presence in the agriculture, petroleum and power sectors.

The delegation held talks with six major Taiwanese oil companies - China Petroleum Corporation, Dairen Corporation, USI Corporation, International Petrochemicals Group, Formosa Petrochemicals Corporation and Morning Star Group, one of its members said.

The discussions centered on forging an alliance between the private sector oil companies to pool in their respective strengths for mutual benefit.

India imports some 70 percent of its oil needs and is on the lookout for new sources for obtaining natural gas, including Iran, Turkmenistan and Qatar.

The Taiwanese government and companies, increasingly hemmed in by China's aggressive diplomacy against Taipei, are aware of the "diplomatic reach" that a link up with Indian companies would provide.

Most Indian private sector companies, on the other hand, do not have the kind of capital required for expansion that the cash-rich Taiwanese firms could provide. The six Taiwanese companies with which talks were held together have a total market cap of $29 billion.

The two sides also discussed the possibilities of complementing the Taiwanese companies' marketing skills with Indian managerial expertise and technical manpower in what they agreed would be a win-win situation for both.

Besides distribution of petroleum products in India, the two sides also discussed setting up of downstream petroleum chemical complexes to take advantage of the Indian and international markets, the delegation member said.

The Taiwanese feel that if their companies could set up a chain of petrol pumps across India, it would boost Taiwan's reach not only in India but in the region.

Taipei sees southern India as an ideal location for such investments, the delegation member said.

Indian and Taiwanese private sector oil companies are not strangers to each other.

The Ambanis of India's Reliance group and Wang family, which controls Formosa Petrochemicals Corporation, are known to be good friends.

The visit by the Indian delegation took place at a time when the government of President Chen Shui-bian is encouraging Taiwanese companies, which have heavily invested in China, to look at alternative investment destinations following the anti-secession law passed by the Chinese national assembly earlier this month.

But it may not be easy. The pro-China lobby in Taiwan is trying to prevent Taiwanese investments to move out of China to India or any other country.

http://planetguru.com/Articles/ArticleDetail.aspx?ChannelId=Biz&ArticleId=12304

[Allosaurs_r_us]

"Why would Indian companies go to Taiwan to negotiate with mainland Chinese companies????India like most nations recognises only the PRC.So why go to a 3rd nation!!! "

Now wait a minute. If They only recognize the PRC then Taiwan is China. So any way you look at it they are involved with China.

[sukhoi-30mki]

Before you jump on the proposed Indo-Sino cooperation,I must add that all the major players in Asia(Japan,China,South Korea & India) are looking at oil cooperation to reduce the effects of unstable prices.

[sukhoi-30mki]

So what does America's relationship with the ROC mean???

[Gengis Khan]

"Looks like the usual suspects showed up in record time......LOL"

Yup. It shows up almost immediately on our radars. LOL!

[sukhoi-30mki]

This is the "oil cooperation" envisaged by a number of Asian nations including China,Japan,India & ASEAN nations

1.Oil meet sets an Asian agenda

http://www.rediff.com/money/2005/jan/07oil.htm

2.Asian oil forums to seek cooperation

http://en.ce.cn/subject/EnergyCrisis/ECworld/200503/04/t20050304_3228594.shtml

[sukhoi-30mki]

Some folks suffer from acute shoot yourself in the foot disorder!!

[watsonfellow]

Hey Bub!

You've confused Sinopect Corp-- China Petroleum and Chemical Corporation with China Petroleum Corp.

The first is PRC

The second, the one in the article, is Taiwanese.

SO don't bub me bub!

I lived in Taiwan for two years, believe me at times it can get confusing.

[CarrotAndStick]

Excuse me, but your mention of an oil pipeline through India onto China got my attention. Are you suggesting that a pipeline be run over India, across the Himalayas, onto China?

As I recall, the Himalayas form such an impassable barrier that even aircraft don't fly over them. For that matter, even clouds can't cross them. And the few passes that exist in the largest, widest and highest mountain chain on the planet are so far between that it would not make any sense to snake a pipeline across a set of such passes.

Do you have anything else in mind that may have evaded me? I'm open for correction on this.

[CarrotAndStick]

http://eng.cpc.com.tw/contacte.htm

Chinese Petroleum Corporation (CPC)
HEAD OFFICE
@
No.3 SUNGREN ROAD, SHINYI CHIU,
TAIPEI, TAIWAN 11010, R.O.C.
TEL : 886-2-8789-8989
FAX : 886-2-8789-9000
TELEX : TP-11215
CABLE : CHINOL TAIPEI
E-MAIL : ir@cpc.com.tw
Web Site : http://www.cpc.com.tw

[thoughtomator]

Taiwan calls itself the Republic of China, FYI, so a lot of Taiwanese companies will have the word China in their names.