Petroleum industry
The Australian stock market finished the day 17.2 points higher at 2,902.5, driven by a stronger gold sector, but failed to maintain momentum despite a strong lead from Wall Street. Brokers noted that confidence weakened in the afternoon session as investors focused on the implications of U.
Petroleum
Thunder Creek Gas Services, a joint venture between Devon Energy Corporation and KN Energy, Inc., has initiated construction on a 126-mile natural gas gathering system in the Powder River Basin of northeast Wyoming. The system, expected to be operational by fall 1999, will consist of a 126-mile trunkline, low-pressure field
Petroleum industry
Oil prices fell in New York and London as traders questioned the extent of damage to an Iraqi pipeline after a U.S. attack. The U.S. had assured that the targets were military communications facilities, and not the pipeline. Turkish officials confirmed that oil had stopped flowing, but Iraq
Petroleum
Woodside Petroleum is regaining a foothold in Gippsland, Victoria, after a 45-year absence. The $5.5 billion energy group has agreed to purchase Australian Worldwide Exploration's (AWE) stake in the undeveloped Kipper and Basker-Manta-Gummy gas fields in Bass Strait for $18 million. This move will add momentum to
Petroleum industry
The Australian sharemarket posted a small gain yesterday, with the benchmark all ordinaries index edging up 0.3 points to 2882.5. The all industrials index rose 0.2 points to 5228.2, and the all resources index gained 0.5 points to 951.2. Bank stocks had a mixed
Petroleum
The energy sector in Asia continued to make significant developments in February 1999, with various news outlets reporting on key initiatives, contracts, and privatisation efforts. In the Philippines, the National Power Corporation (NPC) defended adjustments made to the build-rehabilitate-operate (BRO) contract for the Caliraya-Botocan-Kalayaan hydroelectric power complex, citing benefits to
Petroleum
BP Amoco, the merged giant created just 32 working days prior, is undergoing rapid streamlining amidst plummeting crude oil prices. Chief executive Sir John Browne has announced plans to axe 3,000 jobs by year's end, in addition to the 7,000 already cut, promising £1.55bn in
Petroleum industry
The Australian sharemarket posted significant gains on February 17, 1999, driven by telco and blue-chip stocks. The all ordinaries index rose 22.8 points to 2882.2, while the all industrials index added 56.6 points to 5228.0. The overnight rise on Wall Street also contributed to the positive
Petroleum industry
Australian shares concluded trading with a gain, as the banking and telecommunications sectors posted significant increases, while BHP weighed on the resources sector. The all ordinaries index rose by 22.5 points to 2889.5, with the industrials index increasing by 48.3 points to 5226.9. The banking sub-index
Petroleum industry
Kerr-McGee Corp., an energy and chemical company, has successfully integrated its exploration and production (E&P) processes with the Oracle Energy Upstream applications suite. The implementation, which went live for 250 users, aims to enhance business efficiency and provide a comprehensive information management system. The Oracle Energy Upstream suite
Petroleum
Norwegian offshore oil and gas investments significantly over-ran their budgets from 1994 to 1998, as per a government-commissioned industry report. Despite the industry's efforts to reduce costs, the initiative launched six years ago, Norsok, failed to achieve its goal of reducing project times and costs by 40-50%. The
Petroleum industry
The Australian sharemarket on Wednesday defied negative overseas market leads to close up, but off its highs, thanks to offshore money pouring into the domestic and New Zealand markets. The benchmark all ordinaries index closed 11.2 points, or 0.39 percent, higher at 2918.2, after losing ground on
