Ouote of the Day

"Although demand in both China and India appears to be holding so far, non-OECD demand growth in 2008 will fail to offset the severe demand contraction in the OECD."
The International Energy Agency Thursday said as it cut its estimates of world oil demand in 2008 and 2009.

"In a year marked by tumultuous market conditions, a tight liquidity environment and an increased focus on risk mitigation, this financing facility marks a significant achievement."
JP Morgan said after signing a $400 million financing facility with India's private oil and petrochemicals giant Reliance Industries Ltd with support from the US Export-Import Bank, which will be used to fund RIL's equipment purchases from 17 US suppliers.

Updated: December 11, 2008

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Platts Ouote of the Day Ouote of the Day 12/11/08

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