Petroleum
The Norwegian government has given in to global industry pressures, with Norsk Hydro's takeover bid for Saga Petroleum marking the end of the minority coalition's attempt to preserve the country's trio of oil companies. The move by Norsk Hydro, a 51% government-controlled company, comes
Petroleum industry
Shell, a leader in dual-career policies, has launched an innovative web site to connect expatriate partners with employers worldwide. The site offers partners job search information, links to recruitment consultants, and access to educational and business resources. This move aims to facilitate the job search process for partners of Shell&
Petroleum industry
CMS Energy Corporation's oil and gas exploration and production unit, CMS Oil and Gas Company, has announced the successful completion of the Campo Rosario well #18 in the Colon Block of the Maracaibo basin in western Venezuela. The well, completed at a depth of 7,778 feet in
Petroleum
The oil industry, having narrowly escaped the crisis of the late 1990s, is facing a new wave of consolidation, driven by the perceived benefits of economies of scale. Chevron, a mid-sized US oil major, is under pressure to justify the acquisition of Texaco, a rival player, to improve returns to
Petroleum industry
BP Amoco's chief executive John Browne embarked on a whirlwind tour of Alaska on Friday, meeting with employees, business leaders, and politicians to discuss the company's proposed $26 billion acquisition of Arco. Despite issuing assurances about BP's commitment to Alaska oil development, Browne had
Petroleum industry
Gensym Corp., a leading provider of software and services for intelligent operations management, has announced a significant multi-site licensing deal with Aramco Services Company. The agreement grants Gensym Corp. the use of their neural network software, NeurOn-Line Studio(tm) (NOL Studio), in various Saudi Aramco refineries and gas plants in
Petroleum
Azeri President Haydar Aliyev is poised to seal three major oil exploration deals worth around USD5 billion in potential investment during a high-level visit to Washington. The agreements, which will mark the first significant discoveries in Azerbaijan since the end of last year, involve partnerships with top US oil majors
Petroleum
Britain's BG Plc and Royal Dutch Shell have made a record-breaking bid of USD992 million for a 53% stake in Brazil's Comgas, the country's largest natural gas distribution company. The bid, which far exceeded the minimum offering price, is a significant sign of investor
Petroleum industry
California's consumer lawyers have filed a complaint with the Federal Trade Commission (FTC), arguing that the proposed purchase of Atlantic Richfield Co. by BP Amoco could lead to higher gas prices in California, where about half of the gasoline is refined from Alaska North Slope crude oil. The
Petroleum industry
Crude oil prices saw significant fluctuations ahead of the release of the American Petroleum Institute's (API) weekly inventory figures, with the May light, sweet crude contract reaching a high of $18.15/bbl, its highest front-month contract price since January 1998. However, the contract ultimately expired at $17.
Petroleum industry
Phillips Petroleum Company (NYSE: P) has announced its acquisition of the Broken Hill Proprietary Co. Ltd.'s (BHP) interest in the Bayu-Undan gas/gas condensate field in the Timor Sea's Zone of Cooperation (ZOCA), as well as other properties in ZOCA and Australian Commonwealth waters. The acquisition
Petroleum industry
Perth-based Woodside Petroleum Ltd has secured a deal to acquire News Corp Ltd's interests in undeveloped gas fields in Bass Strait, further solidifying the company's position in Australia's eastern gas market. The acquisition follows Woodside's purchase of Australian Worldwide Exploration's
