Petroleum industry
The Australian sharemarket began its holiday season on a somewhat subdued note, with thin volumes and softer commodity prices contributing to a decline in the benchmark all ordinaries index. Despite a positive close on Wall Street, the domestic market was unable to sustain its morning gains, with the all ordinaries
Petroleum industry
The Australian sharemarket followed the lead of Wall St to close firmer, driven by Christmas window dressing by fund managers. The benchmark all ordinaries index jumped 21.8 points to close at 2759.8. Key industrial stocks such as Lend Lease, Brambles, News Corp, and AMP saw significant buying activity,
Petroleum industry
The Australian sharemarket closed firmer on strong trade, with diversified miner BHP and several major stocks fueling the market. The benchmark all ordinaries index rose 9.3 points to 2749.3, with major stocks like News Corp and National Australia Bank also contributing to the gains. The strong performance was
Petroleum industry
The Australian sharemarket recorded a firm close on Friday, driven by several major stocks, including diversified miner BHP, which surged on the news of it winding up the Beswick Pty Ltd by 2001 as part of its corporate overhaul. The benchmark all ordinaries index rose 9.3 points to 2749.
Petroleum industry
A significant breakthrough has been achieved in the gas industry as BHP has renegotiated contracts with PowerGen, securing a substantial windfall for the company. The agreement, valued at $324 million, reflects a 35 percent price cut on the gas supplied from the Liverpool Bay fields. This reduction brings the gas
Petroleum industry
A significant agreement was reached in Washington on Wednesday, where Nurlan Kapparov, president of Kazakoil, signed an agreement with three Western oil firms to study the feasibility of building trans-Caspian pipelines to ship oil and gas to Turkey and Western markets. This move comes as the Caspian Pipeline Consortium (CPC)
Petroleum
Shell affiliate, Coral Energy, L.P., in partnership with AlliedSignal Engines, has formed an alliance to co-market comprehensive cogeneration solutions for industrial customers in the U.S. and Canada. This alliance brings together the financial and technical resources needed for small to midsize cogeneration projects, from economic analysis to installation
Petroleum
Cross Timbers Oil Company, a leading energy firm, has filed a registration statement with the Securities and Exchange Commission for the offering of 6,000,000 units of beneficial interest (15%) in its newly formed Hugoton Royalty Trust. The offering is being led by a team of six underwriters, including
Petroleum
Exxon and Mobil announced a historic $US77.2 billion merger, forming the world's largest oil company, Exxon Mobil Corp. The combined entity will surpass Royal Dutch-Shell Group and General Motors Corp in size, with a total revenue of $US 203 billion last year. The deal is expected to
Petroleum industry
A wave of massive corporate mergers has captivated the business world, leaving Wall Street traders in awe. With Exxon and Mobil's proposed $US238 billion deal being the largest to date, the oil industry's giants are consolidating to stay competitive in a rapidly changing market. Analysts warn
Petroleum industry
As low oil prices decimate profits, Lee Raymond, chief executive of Exxon Corp, and Lucio Noto, his Mobil Corp counterpart, are weighing a buyout that would create the world's largest oil company. Cutting expenses has been a key strategy for both men, with 30,000 jobs slashed between
Petroleum
BP's proposed $30 billion acquisition of Amoco, announced in August, is facing new complications due to talks between Exxon and Mobil to form the world's largest oil company. The potential merger could impact the oil market and competition in the petroleum products market, prompting US regulators
