Showing posts with label Pakistan Assets. Show all posts
Showing posts with label Pakistan Assets. Show all posts

Friday, October 1, 2010

NATO Oil Tankers Attacked by Militants in Pakistan


(AP Photo/Aaron Favila)

Over two dozen oil tankers in the southern part of Pakistan were
set on fire, presumably in response to an attack by NATO helicopters which killed three Pakistani soldiers on the border.

The tankers which were attacked carried fuel for the armed forces in Afghanistan.

While tensions between the two countries have never rescinded, they have been managed in general. This attack reveals the underlying pressure in the shaky alliance, which is ready to explode at any perceived provocation, or real one for that matter.

Pakistan routes are used for supply transport, including things like clothing, parts and fuel. Weaponry isn't transported via Pakistan because of the militant presence in the country.

What was unusual about this raid was its location in the Sindh province, out of the usual region in the northwest part of Pakistan where the rebels have a stronger presence. That could imply they've expanded their reach beyond that area.

At this time approximately 80 percent of non-weaponry is transported through Pakistan, but NATO has been looking for other supply routes in nearby countries so they are overly reliant on Pakistan.

In the northwest region of the country there are usually Pakistani security forces included with the transports, but in the other parts of the country that's not usually the case because of little activity by the insurgents.

Security officials in Pakistan have reportedly warned they won't supply security details any longer if NATO sends helicopters into the country again.

Since Pakistan is reliant upon U.S. and NATO money, it's hard to tell if they would follow through on that threat or not. But it is possible they would.

Interestingly, polls of Pakistanis show that many of them consider the United States an enemy, which has caused a lot of problems for the Pakistani government.

A formal protest over the helicopter excursions has been lodged by Pakistan to NATO.

Tuesday, July 20, 2010

BP (NYSE:BP) Offering Pakistan and Vietnam Assets for Sale

It hasn't been a secret that BP (NYSE:BP) is looking to sell some of its assets to raise capital to pay for the increasing costs related to the Gulf oil spill, and that includes assets in Vietnam and Pakistan, which had been assumed to be part of the company's strategy.

BP confirmed that today by saying they've notified both countries to let them know they're putting the assets up for sale, although they did say there hadn't been any offers yet for them.

The asset sales, according to BP spokesman David Nicholas, would be used to build up the $20 billion escrow fund, which they've committed $5 billion a year to over the next four years.

Together the assets in Vietnam and Pakistan are estimated to be worth about $1.7 billion.

BP has been negotiating with Apache (NYSE:APA) for assets located in Alaska, which they value at about $10 billion, but which Apache reportedly only wants to pay about $9 billion for. Talks are ongoing, but there hasn't been news of a breakthrough yet related to price, or another sticking point connected to language in the proposed contract.