• 4 hours Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 9 hours British Utility Companies Brace For Major Reforms
  • 13 hours Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 15 hours Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 16 hours Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 17 hours OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 18 hours London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 19 hours Rosneft Signs $400M Deal With Kurdistan
  • 22 hours Kinder Morgan Warns About Trans Mountain Delays
  • 1 day India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 1 day Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 2 days Russia, Saudis Team Up To Boost Fracking Tech
  • 2 days Conflicting News Spurs Doubt On Aramco IPO
  • 2 days Exxon Starts Production At New Refinery In Texas
  • 2 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 3 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 3 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 3 days China To Take 5% Of Rosneft’s Output In New Deal
  • 3 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 3 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 3 days VW Fails To Secure Critical Commodity For EVs
  • 3 days Enbridge Pipeline Expansion Finally Approved
  • 3 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 3 days OPEC Oil Deal Compliance Falls To 86%
  • 4 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 4 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 4 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 4 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 4 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 4 days Aramco Says No Plans To Shelve IPO
  • 6 days Trump Passes Iran Nuclear Deal Back to Congress
  • 7 days Texas Shutters More Coal-Fired Plants
  • 7 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 7 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 7 days Chevron Quits Australian Deepwater Oil Exploration
  • 7 days Europe Braces For End Of Iran Nuclear Deal
  • 7 days Renewable Energy Startup Powering Native American Protest Camp
  • 8 days Husky Energy Set To Restart Pipeline
  • 8 days Russia, Morocco Sign String Of Energy And Military Deals
  • 8 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
With A World Awash In Oil, Kazakhstan Faces Fuel Crisis

With A World Awash In Oil, Kazakhstan Faces Fuel Crisis

Kazakhstan is struggling with a…

The Safest Way To Bet On The Bitcoin Boom

The Safest Way To Bet On The Bitcoin Boom

Often described as the backbone…

Mongolia Seeking to Float Coking-Coal IPO in Three Financial Centers

Mongolia Seeking to Float Coking-Coal IPO in Three Financial Centers

Mongolian government officials, speaking on condition of anonymity, have said that the government is preparing to issue an initial public offering or initial purchase offer (IPO) for the country’s Tavan Tolgoi ("Five Hills") massive coking coal deposit.

According to the officials, the multibillion-dollar initial public offering of a government-owned stake in Erdenes-Tavan Tolgoi Co. may take place in Ulan Bator, Hong Kong and London if Mongolia can overcome the remaining technical and logistical hurdles to launching the IPO, Business-mongolia.com website reported.

The Tavan Tolgoi coking coal deposit is located in the east Tsankhi area of Mongolia’s Gobi desert and is estimated to hold over 7.5 billion metric tons of coking coal, essential for making steel, making it currently the world's biggest untapped deposit.

Goldman Sachs Group Inc., Deutsche Bank AG, BNP Paribas SA and Macquarie Group Ltd. are overseeing the sale of Erdenes- Tavan Tolgoi Co.

Erdenes-Tavan Tolgoi Co.has already generated controversy, as in July Japan filed a complaint with Mongolia over the bidding process for the Tavan Tolgoi development project, charging that its decision about the winners was confusing, Mongolia government officials acknowledged. Japanese and Korean firms were not mentioned in the announcement about potential developers of Tavan Tolgoi.

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News