Petroleum
Asian crude oil markets have been recovering slowly this year, but the rise in prices has been less enthusiastic than in the US and North Sea markets. Oil traders and refiners in Asia are skeptical about the current price rally, pointing to weak demand and negative refining margins. The Organisation
Petroleum industry
Magnum Hunter Resources, Inc., a leading independent exploration and development company, has announced the acquisition of oil and gas reserves and related assets from Vastar Resources, Inc. The deal, valued at approximately $33.9 million, includes Vastar's interest in 476 wells, a gas processing plant, and two gas
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
As Iraq strives to increase its oil production to maintain current levels and beyond 6.35 million barrels per day (b/d), significant investments are required in drilling new wells and expanding existing surface facilities. The country's oil industry faces substantial challenges, including the need to drill thousands
Petroleum
On April 22, 1999, energy market news highlighted significant developments, including Caltex Philippines' decision to adjust fuel prices due to higher crude costs and Japan's electric and gas utilities announcing rate cuts starting from July. International players, such as Callidus Technologies, were negotiating equipment supply deals, while
Petroleum
Alaska has tapped the services of leading antitrust lawyer David Boies to review the proposed $26 billion purchase of Atlantic Richfield Co. by BP Amoco. Boies, who has experience in high-profile antitrust cases, including the government's challenge to Microsoft's dominance of the computer operating systems market,
Petroleum
An international consortium led by BG plc and Shell has secured a controlling 52.7 percent interest in Comgas, Brazil's largest gas distribution company. The BG-Shell group outbid three other consortia with a proposal worth $988 million, meeting the minimum bid price set by the state-owned power generation
Petroleum
The crude oil market saw a surprising rebound on Friday as traders responded to increased tensions between Russia and NATO, combined with mildly supportive comments from the International Energy Agency. Despite a three-day slide, May light, sweet crude futures on the New York Mercantile Exchange (Nymex) surged to as high
Petroleum industry
Greg Krause, a 38-year veteran of The St. Paul Companies, has been named marketing vice president of St. Paul Fire and Marine Insurance's Professional Markets division, overseeing the insurance needs of public entities, financial institutions, lawyers, real estate, and insurance agents. Jim Adams, Ed Lambert, and Ed Pendergast
Petroleum
Australian coal miners, battered by depressed demand and low prices, are expected to pull through the current period and emerge as leaner and more internationally competitive, industry officials and analysts said. Despite the current difficulties, the sector is poised to capitalize on the lower Australian dollar and cost-cutting measures implemented
Petroleum
Chase Manhattan has recently concluded two notable credit deals, providing a significant financial boost to Ocean Energy Inc. and Alaska Communications. The credit facilities, which consist of a combination of revolving and term loans, aim to support the restructuring efforts of both companies. In a separate development, Ocean Energy is
Petroleum industry
C-3D Digital, Inc. has significantly enhanced its content capabilities by acquiring the security interests in the technology and principle assets of Strata Inc., a premier name in 3D computer graphics. This strategic move is expected to add eye-popping 3D effects to C-3D's growing content, currently shown on its
