Wednesday 25 December 2013

Typically, Rafizi blew wrong whistle again ....

Typically, Rafizi blew wrong whistle again ....

Radzi Tajuddin who blogs as Mat Rodi has posted an article which debunked Parti Keadilan Rakyatstrategy director Rafizi Ramli who claimed that Petronas' RM16 billion investment in Canadian shale gas is risky.

Rafizi claimed that Petronas’ investment worth RM16 billion is at risk because of the exorbitant acquisition of Progress Energy (77% more than the market price) at the time when other oil and gas companies suffered billions of dollars in losses from shale gas projects.

Mat Rodi argued that Rafizi's contention was without merit as "it is a normal practice to acquire valuableassets at such a premium price."

He cited a few examples to back his argument, and one of it is the one where China National Offshore Oil Corporation (CNOOC) paid close to RM50 billion for Nexen Inc stakes and that represented a 61% premium.

Baca seterusnya di The Mole SINI
source : the unspinners

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