Readings: Reliance energy, World market cap, China
Reliance will sell gas at $25.20 a barrel of oil equivalent, compared with more than $135 in global markets, Chairman Mukesh Ambani told shareholders in Mumbai today. Piping the fuel from the Krishna Godavari basin off India’s eastern coast will cut 1.14 trillion rupees ($27 billion) from the country’s import bill, he said.
Completion of the refinery will increase Reliance’s ability to process crude oil to 1.24 million barrels per day, equivalent to about 2% of global capacity.
Rig use in the Asia-Pacific region by explorers such as Chevron Corp., Total SA and Reliance rose to a 16-year high in May on increased oil and gas demand, a report said. India, the biggest user of rigs in the region, deployed 81 rigs to drill on land and water.
- Investors Insight: The Geopolitics Of China
China has three overriding geopolitical imperatives:
- Maintain internal unity in the Han Chinese regions.
- Maintain control of the buffer regions.
- Protect the coast from foreign encroachment.
The greatest military threat to China comes from the United States Navy. The Chinese have become highly dependent on seaborne trade and the United States Navy is in a position to blockade China’s ports if it wished. Should the United States do that, it would cripple China. Therefore, China’s primary military interest is to make such a blockade impossible.
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