Karak International Oil can start a $1.8 billion oil shale project expected to produce 15,000 barrels of oil a day by 2016 in Jordan after securing a royal decree, according to the British embassy in the kingdom.
Jordan expects to sign a final agreement within a few weeks with Estonia’s Eesti Energia AS for the construction of a power plant that burns shale oil, the Natural Resources Authority’s director-general said.
BHP Billiton Ltd. , bidding $40 billion for Potash Corp. of Saskatchewan Inc., may shelve development of its own Canadian potash project if it succeeds with the offer, according to consultants Fertecon Ltd .
BHP Billiton Ltd. ’s $40 billion bid for Potash Corp. of Saskatchewan Inc. and acquisitions in the Russian industry signal the potash market bottomed after prices slumped more than 50 percent, consultant Fertecon Ltd. said.
India, the world’s biggest potash importer, may use 4.55 million metric tons of the soil nutrient in the year ending March to boost yields of rice, fruit and vegetables, K.V. Thomas, junior agriculture minister said.