Xebec Adsorption Inc. (TSX:XBC) announced it has a purchase order for a Pressure Swing Adsorption system to be installed in India.
The latest developments underscore a general theme from the subcontinent as it has been looking at other areas to acquire oil and gas assets overseas to meet its growing energy demand. As Asia’s third-largest oil consumer, India has been aggressively scouting for overseas gas and oil assets to meet its supply deficit and is competing with China for fields from Africa to Venezuela.
The oil spill liability could extend well beyond British Petroleum as Transocean Ltd., Halliburton Co. and Cameron International Corp. all had some exposure to this series of current events.
Even as investors are mulling mixed signals over crude supply numbers from the Energy Information Administration, there are clear indications that the Gulf state leaders have no plans to stop pricing oil in dollars. The rumour had traders hitting the panic button.
Wednesday, December 21, 2011