Oil and gas: US firm shows interest in setting up refinery

Published: February 1, 2011

Investors meet petroleum minister

ISLAMABAD: Northfield Commodities, a US energy trading firm, has expressed interest in setting up a refinery in Pakistan.

This was discussed by the representatives of the commodities company along with other investors in their meeting with Federal Minister of Petroleum and Natural Resources Syed Naveed Qamar here on Monday.

Qamar apprised the delegation that a number of infrastructure projects in the oil and gas sector were underway that could benefit from capital financing solutions offered by investors.

Qamar urged the investors to avail of the benefit of an investor-friendly environment in the country and invest in the oil and gas sector.

The delegation comprised Rex Wempen and William Murray of Northfield Commodities, Oppenheimer North America Vice President Tim Furey and Olorin Group CEO Stephen Graves.

Published in The Express Tribune, February 1st,  2011.

Reader Comments (3)

  • XX
    Feb 1, 2011 - 4:55AM

    Let me give you a glimpse into how great and transparent this government is.
    I know of a US based Pakistani doctor who got some ‘gora’ investors together from Texas and Norway, and went to Pakistan with an ambitious plan to have a Norwegian ‘power plant-ship’ docked at Karachi to provide power (like the Turkish one that just recently came). He went to Naveed Qamar’s office – a school friend of his – and his people are asking for money. Then at the PM’s office, people are asking for money, and so on and so forth. At the end, the amount they’d have to give in commissions was amounting to half the entire expected profit of the project. Of course, his investors didn’t care much for this offer; they’re not Pakistani, they had better (and more stable) investments to make elsewhere.Recommend

  • G.Khan
    Feb 1, 2011 - 5:02PM

    When the Head is Rotten the rest of the body gets infected instantly. We must pick up few and set examples that he who wants to put his hand in the cookie jar, he runs risk of this life. Unless we set this example. looting, bribing will continue.Recommend

  • William lees
    Feb 24, 2011 - 4:33PM

    Rex Wempen! The same Rex Wempen who set up the totally discredited In Iraq?The same Rex Wempen who pretended to be a journalist,businessman,or the one who formed the Iraqi American Chamber of Commerce?
    http://www.iraqdirectory.com/DisplayNews.aspx?id=10353
    Adviser to Prime Minister for Economic Affairs, Fadhl Mohammad Jawad, said that the Iraqi-American Chamber of Commerce and Industry is not recognized within the non-governmental organizations and it does not have a “legal framework” to work in Iraq. He said that the Secretariat of the Cabinet “had directed all ministries and government institutions not to deal with the Iraqi-American Chamber of Commerce and Industry because it does not have a legal framework for working in Iraq.”

    He added that “the registration of non-governmental organizations is done in accordance with conditions, and this organization did not meet the required conditions,” noting that “many people think that this organization is recognized internationally and locally as a result of its name, but the fact is quite the contrary; it is only a group of people.” Jawad pointed out that “this organization has undertaken many activities in Iraq and held numerous seminars and conferences, but it remains without legal validity and can not be dealt with. ” The Secretariat of the Cabinet, issued earlier, a circular to ministries and state institutions urging them not to deal with that organization. The circular said “after the decision to cancel registration of the Iraqi-American Chamber of Commerce and Industry of non-governmental organizations and the loss of its legal existence in Iraq, it has been decided to direct all ministries and government departments not to deal with that
    Why who would ever imagine……..Recommend

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