Gas industry
Saudi Aramco Corporation, the global leader in the petroleum industry, has successfully integrated FVC.COM's two-way video systems into its existing business processes. This cutting-edge solution enables the company to deliver high-quality, two-way video to over 5,000 employees throughout Saudi Arabia, thereby reducing travel costs, improving productivity,
Gas industry
South Korea and Indonesia have deepened their bilateral energy ties, with plans for South Korea to participate in the development of new oil and natural gas wells in Indonesia. In exchange, Indonesia will ensure stable oil and gas supply to South Korea. This agreement follows recent announcements in the Asia-Pacific
Petroleum industry
Iran is planning to revive the development of the North Pars gas field, a move that could potentially unlock vast gas reserves of 1.4 trillion cubic meters. The project aims to use gas from the initial phase for reinjection into three depleted onshore oil fields. Meanwhile, Oman has awarded
Gas industry
BP and Norway's Statoil are on the cusp of finalizing a business cooperation contract with Vietnam for a $580 million natural gas pipeline, a key component of a $1.5 billion integrated project in the Nam Con Son basin. The deal, which has been in the works since
Petroleum industry
CMS Energy Corporation's oil and gas exploration and production unit, CMS Oil and Gas Company, has announced successful production tests of two wells in the Alba Field in Equatorial Guinea and in Lynn County, Texas. The Alba #8 well in Equatorial Guinea flow tested at a rate of
Gas industry
US Defence Secretary William Cohen is set to start a nine-country tour of the Middle East, focusing on regional security issues, including the enforcement of sanctions against Iraq. Despite reports that Arab states are ignoring UN sanctions, US officials claim that no countries in the region are prepared to support
Petroleum industry
In a move to facilitate the development of oil and gas resources in the Caspian Sea, Russia has reversed its stance on the region's legal status, now advocating for a division of the seabed among the five littoral states. This change in strategy has led to improved relations
Petroleum
Royal Dutch Shell, a leading Anglo-Dutch energy company, has announced plans to acquire a significant stake in the forthcoming initial public offering (IPO) of China National Offshore Oil Corp (CNOOC). The IPO, scheduled to take place on the New York and Hong Kong exchanges in February 2001, marks a significant
Petroleum
CNOOC Limited, an oil and gas company primarily engaged in exploration, development, and production of crude oil and natural gas offshore China, has re-filed its registration statement with the U.S. Securities and Exchange Commission to proceed with its proposed global initial public offering (IPO) of shares. The company, incorporated
Petroleum
Equifax, a leading national credit bureau, has announced plans to split into two independent companies, separating its payment services division from its information services division. Meanwhile, FleetBoston Financial Corp. is acquiring Summit Bancorp in a massive $7 billion deal, marking its entry into the lucrative Internet banking and brokerage services
Petroleum
The surprise release of 30mn bl of oil from the Strategic Petroleum Reserve (SPR) on 22 September led to a sharp decline in futures markets, with Nymex crude and IPE Brent contracts falling by over $3.50/bl and $3.00/bl, respectively. The sudden downward rush overwhelmed technical factors,
Gas industry
As the global energy landscape continues to shift, countries are reevaluating their energy strategies to ensure sustainable growth and meet increasing demands. This article delves into recent developments in the global energy market, highlighting key takeaways and statistics from various regions. Key Takeaways: * Indonesia has revised its 2020 budget to
