Petroleum
Bolivia's government, under President Hugo Banzer, is committed to solidifying its position as a leading energy hub in South America, attracting significant foreign investment in the process. Vice President Jorge Quiroga highlighted the country's potential, citing substantial investment, substantial natural gas reserves, and strategic partnerships with
Petroleum
Multiple companies have announced plans to broadcast their quarterly earnings conference calls over the internet, utilizing Investor Broadcast Network's Vcall service. This move allows investors and other stakeholders to access conference calls in real-time, eliminating the need for manual transcription or recording methods. The broadcasts will provide investors
Petroleum
The merger between TotalFina and Elf Aquitaine, sparked by a hostile takeover bid, has reached a critical juncture. Institutional shareholders are closely watching the developments, with some applauding the speed of TotalFina's response and others questioning who will run the new company. The outcome hinges on the experience
Petroleum industry
Enron Corp. has successfully negotiated a $1.9 billion stock-for-assets swap with its 53%-owned affiliate, Enron Oil & Gas Co. (EOG), allowing it to dispose of most of its ownership interest in EOG. The agreement, which involves exchanging 62.27 million EOG shares for EOG's China and
Petroleum industry
The Enron Corp., a leading energy company, has entered into a share exchange agreement with Enron Oil and Gas Co. The agreement will reduce Enron's ownership share of Enron Oil and Gas Co. from 53.5% to 16-17%, allowing Enron to issue $200 million in securities that can
Petroleum
Libya's National Oil Corporation (NOC) boasts an intricate network of pipelines that spans across the country, connecting its oilfields to Mediterranean terminals. After the nationalization of the oil industry in the early 1970s, NOC acquired full ownership of the pipelines, with companies retaining exploration and production (E&
Petroleum industry
Crude oil prices continued their upward trend on Friday, with August light, sweet crude futures rising 30 cents to settle at $19.69/bbl on the New York Mercantile Exchange (Nymex). Traders covered their positions ahead of the holiday weekend, causing the price to reach an 18-month high. Market observers
Petroleum industry
Tom Brown, Inc. has completed the acquisition of most of the Rocky Mountain oil and gas assets of Spirit Energy 76, a lower 48 exploration and production unit of Unocal Corporation. This acquisition includes the Lisbon Plant, a sophisticated cryogenic natural gas processing plant, and approximately 65,000 net undeveloped
Petroleum industry
Canada's major oil and gas players are abuzz about the recent upturn in the gas sector, but Exxon Corp.'s Canadian affiliate, Imperial Oil Ltd., seems hesitant to join the party. While Imperial Oil is starting to target gas prospects off Canada's East Coast, its
Petroleum industry
Shaikh Saud Al Nasser Al Sabah, Kuwait's Oil Minister and KPC Chairman, has been instrumental in driving change within the organization since his appointment in 1998. With a strong background in negotiations and diplomacy, Shaikh Saud has worked to establish a more favorable environment for foreign participation in
Petroleum
Exxon Corporation, through its affiliate Esso, has been awarded a 25% interest in the deepwater block BMFZA-1 in the Foz do Amazonas Basin, off the States of Amapa and Para, Brazil. The block, which covers an area of approximately 3.5 million acres, is located in water depths ranging from
Petroleum
A recent memorandum of understanding between Petro-Canada, Ballard Power Systems, and Methanex marks a significant step towards establishing a commercially viable fuel distribution network for fuel cell-powered vehicles in Canada. The alliance, which includes fuel cell technology advancements with DaimlerChrysler and Ford Motor Company, aims to reduce costs and make
