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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)

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To: Tomas who wrote (1939)	12/6/2000 10:17:24 PM
From: Tomas	Read Replies (2) of 2742

Shell to Spend $5.3 Billion on Oil Projects in Malaysia By David Yong Kuala Lumpur, Dec. 7 (Bloomberg) -- The Royal Dutch/Shell Group, Europe's No.1 publicly traded oil company, said it plans to spend 20 billion ringgit ($5.3 billion) over five years to expand its oil exploration, refineries and other businesses in Malaysia. The investment doesn't include ``a couple of substantial investments in downstream projects,'' said Lim Haw Kuang, chairman of Shell Malaysia, a unit of Royal Dutch/Shell. The Royal Dutch Shell group has signed agreements to explore downstream projects in Indonesia, Iran, Trinidad and Egypt while Malaysia may want to offer itself to the group as a choice location for similar projects. The projects involve its gas to liquid downstream technology by converting natural gas into other products such as naphtha, kerosene and other petroleum products. Shell owns unlisted units involved in exploration off the eastern Malaysian states of Sabah and Sarawak. It also owns Shell (FOM) Malaysia Bhd. which is involved in refinery activities.

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