BP PLC
The arrival of Richfield Oil Corp. in Alaska in 1955 marked the beginning of a four-decade relationship that would produce vast riches for both the state and the company. Richfield's discovery of oil in the Swanson River area in 1957 helped alleviate concerns about Alaska's ability
BP PLC
British Petroleum's (BP) expansion drive, led by chief executive Sir John Browne, is set to catapult the company to become the world's largest oil producer after a massive acquisition of Atlantic Richfield (Arco) is confirmed tomorrow. The deal, worth £15.3 billion, will see BP Amoco&
Petroleum industry
Southern Company's unregulated business unit, Southern Energy Inc., is poised for significant growth as it moves into a new $64 million office complex in Sandy Springs. The company's President, Tom Boren, mentioned that the new complex will provide the necessary space for Southern Energy's
Petroleum industry
The global energy sector experienced significant developments in March 1999, marked by Mitsubishi Oil's unexpected pre-tax loss and Edison International's acquisition of a 40% stake in New Zealand's Contact Energy. The liquified natural gas (LNG) industry also launched a marketing body, signaling a shift
Petroleum industry
A downturn on Wall Street and lower gold prices caused Australian shares to decline on Tuesday, with the benchmark All Ordinaries index slipping 14.4 points to 2,977.8. Despite this, market analysts noted that the local bourse held up well and finished off its low. The gold index
Petroleum
The Australian share market closed at a record high on Tuesday, with the all ordinaries index reaching 2,992.2, a new closing high. However, weakness in the resources sector, particularly in key stocks like Commonwealth Bank of Australia, prevented the market from surpassing the 3000-point barrier. The market peaked
Petroleum
Asia's business landscape is abuzz with joint ventures and strategic partnerships as companies seek to tap into the region's vast market opportunities. In this latest update, we explore several significant developments in the Asia-Pacific region, underscoring the growing trend of partnerships and collaborations. Key Takeaways: * Movenpick,
Petroleum industry
The Australian stock market continued its upward trajectory, setting a new all-time high for the third consecutive trading day. The All Ordinaries index rose 28.2 points to close at 2,989.5 points, leaving it just 10.5 points away from the 3,000-point barrier. Market analysts attributed the
Petroleum
Despite plunging into losses, Enterprise Oil managed to increase its share price by 6% on the day it announced it would forego its dividend, coinciding with a general rally in the oil price. The price of oil rose to a four-month high of over $13 a barrel after Opec and
Petroleum
The replacement of German Finance Minister Mr Oskar Lafontaine with Mr Hans Eichel sparked a mixed reaction in the stock market, with the Frankfurt stock market experiencing a five percent jump, while London's FTSE-100 Index reversed most of its gains. The replacement led to a profit-taking frenzy, with
Petroleum industry
The Australian sharemarket continued its upward trend, reaching a record high for the second consecutive day on March 12, 1999. The benchmark all ordinaries index rose 10.8 points to 2961.3, driven by strong performance from heavyweights such as News Corp, BHP, and the Commonwealth Bank. The market'
Petroleum industry
Australian shares declined on concerns that the US market will fall tonight, causing a drop in local stocks. The All Ordinaries index shed 8.8 points to close at 2,920.8, while the Australian equities market saw a mixed performance, with some stocks bucking the trend. Brokers attributed the
