Petroleum industry
Energy Minister Luis Tellez emphasized that Mexico's downstream oil sector cannot be opened until its congress approves private investment in the country's electric sector, citing electricity as the cornerstone of energy sector reform. Tellez forecasted a 6% annual growth in Mexican electricity demand, requiring the construction
Petroleum industry
Despite widespread market volatility, major oil companies weathered the storm last month, with most trading indexes showing a slight decline or staying relatively stable. The IPF Oil & Gas Index of the 15 largest oil and gas companies traded in New York fell 2% in April, compared to a 3%
Petroleum industry
Investor Broadcast Network, formerly known as Vcall, has revolutionized investor communication by providing live and recorded conference calls from over 1,200 public companies, including Jupiter Communications, Sapiens International Corporation, and Starwood Financial. These companies' quarterly earnings conference calls can be accessed through the Investor Broadcast Network's
Petroleum
The Alpine Group, Inc. released its financial results for the first quarter ended March 31, 2000, reporting revenues of $495.9 million, a 2% decrease from the same period in 1999. Net income attributable to common stock for the quarter was $1.7 million, or $0.11 per diluted share,
Petroleum
Phillips Petroleum Co. has officially acquired Arco Alaska Inc. in a deal valued at approximately $7 billion. The acquisition makes Phillips the largest oil and gas producer in Alaska and the state's fifth largest employer. Kevin Meyers, the former president of Arco Alaska Inc., will remain at the
Petroleum industry
PetroEcuador is undertaking a major overhaul of the Ecuadorian national SOTE pipeline by installing a PlantWeb process automation solution and FOUNDATION Fieldbus devices. The project aims to increase the pipeline's pumping capacity from 350,000 barrels per day to 390,000 barrels per day, representing a significant boost
Petroleum industry
In a notable development for the Asian energy sector, British Petroleum (BP) Amoco and Atlantic Richfield Company (ARCO) announced that they will continue operating in the oil and gas sector in Indonesia following their merger on April 18, 2000. Meanwhile, Pakistan has witnessed a significant increase in oil production, reaching
Petroleum industry
Matsushita Electric Industrial Co. and Oracle Corp. Japan have teamed up to develop a comprehensive system for bi-directional digital satellite broadcast services in Japan. This partnership showcases the potential for growth and development in the industry. Meanwhile, in Malaysia, Esso Production Malaysia Inc. managing director Terry McPhail praised Petronas for
Petroleum
Vastar Resources, a leading independent energy producer, announced the election of Charles D. Davidson as chairman of the board following the resignation of four board members who were executives of Atlantic Richfield Company (ARCO). The election and resignations were a result of the merger of ARCO and Prairie Holdings, Inc.
Petroleum
The Shell Petroleum Development Company of Nigeria Limited (SPDC) has awarded a $300 million contract to Brown & Root Energy Services (BRES), a business unit of Halliburton Company, to develop the first major offshore oil and gas facility in Nigeria. The project, valued at approximately $300 million, including options, is
Petroleum industry
A significant shift in oil exploration is underway as Houston-based EOG Resources and state oil company Petroleos de Venezuela (PDV) evaluate the transfer of operatorship of the Gulf of Paria East exploration block to Venezuelan company Inelectra. The move, announced on Thursday, marks a major development in the exploration of
Petroleum
Amnesty International has expressed astonishment at Premier Oil's claim that its ongoing dialogue with the human rights organization had made a significant difference in Myanmar. Despite this assertion, the human rights situation in Myanmar remains extremely grave, with the Myanmar Army continuing to seize civilians for forced labor
