CNPC to help finance US$ 12 billion Ecuadorean oil project

CNPC to help finance US$ 12 billion Ecuadorean oil project

China National Petroleum Corp agreed to take participate in financing of a US$ 12 billion refinery project in Ecuador.

David Nealis President of Ceres Ltd.

 The estimated 300,000 barrel per day Pacifico project is a JV between Ecuador and Venezuela’s PDVSA, it is scheduled to start operations in 2017. Ecuador’s Vice-President Jorge Glas said that CNPC is the project’s third partner. In 2012, CNPC requested the Industrial and Commercial Bank of China to provide funds for CNPC’s possible investment in Pacifico.

China, the world’s 2nd largest economy, continues to be the most important market for companies looking for growth and Chinese companies continue to globalize by investing and selling their products in new markets; what is your company’s strategy for engaging China?

Futures and Options Risk Disclosure
Trading futures and options involves the risk of loss. You should consider carefully whether futures or options are appropriate to your financial situation. You must review the customer account agreement and risk disclosure prior to establishing an account. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of futures results. The risk of loss in trading futures or options can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.

ICBC to open up European & American service divisions

David Nealis President of Blue Bridge

ICBC to open up European, American service divisions
Industrial and Commercial Bank of China Ltd. will launch overseas regional cash management centers in 2012 to service Chinese companies and aid their global-market operations.

 In May a center in Europe will be established, with the North American center opening in October. ICBC Vice President Luo Xi said that the amount of ICBC's overseas assets is likely to be more than 5% of the total by the end of this year. There are over 180,000 Chinese investment institutes in 178 countries and regions with direct investment of over RMB 320billion (US$ 51billion) in 2011.

China, the world’s 2nd largest economy, continues to be the most important market for companies looking for growth and Chinese companies continue to globalize by investing and selling their products in new markets; what is your company’s strategy for engaging China?

Futures and Options Risk Disclosure
Trading futures and options involves the risk of loss. You should consider carefully whether futures or options are appropriate to your financial situation. You must review the customer account agreement and risk disclosure prior to establishing an account. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of futures results. The risk of loss in trading futures or options can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.