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An executive briefing on energy for Jan 1, 2004, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.
LOY YANG POWER SALE DEAL EXTENDED IN AUSTRALIA
MELBOURNE - Under an extension granted yesterday, the Australian Gas Light Company (ASX:AGL) consortium will have until February 4 to complete its proposed $A3.5 ($US2.61) billion Loy Yang Power sale deal.
Under an in-principle agreement, the extension is expected to be finalised on January 5 with the approval of Loy Yang Power's senior lenders.
SHARES IN AUSTRALIA'S SANTOS HIT RECORD HIGH
MELBOURNE - Australia's third biggest oil and gas producer Santos Ltd (ASX:STO) had plenty to celebrate as the market closed for 2003 with its share price hitting new 30-month highs.
Analysts said the company was well positioned going into 2004 with oil prices looking comfortable above the $US30 a barrel mark and a string of new production projects in the pipeline.