Petroleum
Pittsburgh-based Equitable Resources Inc. has revealed plans to record significant charges totaling $120 million, primarily to cover severance costs and property write-downs. The company will take a one-time, pretax charge of $60 million in the fourth quarter, accounting for staff reductions, restructuring, and debt extinguishment. Additionally, Equitable will record a
Petroleum
EuroGas, Inc. has entered into an Agreement with VEW Energie AG and National Power International Limited to form a Polish joint venture company, which will develop a 150 megawatt gas-fired Combined Heating Plant in Zielona Gora, western Poland. The plant will produce both electrical and heating energy, powered by natural
Petroleum
Consolidated Natural Gas Company's exploration and production subsidiary, CNG Producing Company, has announced initial production from a new complex in the Main Pass area of the Gulf of Mexico. Natural gas began flowing from the "Nemo" platform on December 20, marking the beginning of operations for
Petroleum
The Australian sharemarket experienced a significant surge on December 17, 1998, after US-led bombing raids on Iraq sparked interest in oil, gold, and defensive stocks. The benchmark all ordinaries index rose 42.7 points to 2740.0, while the all resources index surged 25.4 points or 2.71 per
Petroleum
The Australian sharemarket posted gains today, driven by strengths in the resources sector and positive sentiments from Wall Street. The benchmark all ordinaries closed 9.4 points higher, or 0.35 per cent, at 2697.3. The all industrials index ended 6.5 points firmer, or 0.13 per cent,
Petroleum
A landmark intercontinental visualization project between Statoil and Landmark Graphics Corporation has successfully demonstrated the power of immersive collaboration, enabling geoscientists to work simultaneously on 3D seismic data sets in real-time, despite being located in different parts of the world. This groundbreaking technology is set to transform the oil and
Petroleum
Tesco, Britain's largest supermarket chain, is set to enter the car sales market, offering discounted prices to motorists. Critics have long complained about price-fixing in the industry, with prices reportedly up to 60% higher in Britain than in Europe. Tesco's massive buying power and prime retail
Petroleum
In early trading on Monday, crude oil prices surged due to fresh tensions with Iraq, but the rally quickly sputtered as traders took profits. By the end of the day, December light, sweet crude had fallen 6 cents to $14.36/bbl on the New York Mercantile Exchange (Nymex). The
Petroleum
SalesLogix Corporation, a leading developer of sales and support automation software, has announced the release of two new SolutionPack modules for its SalesLogix Sales Information System. The SalesLogix Advanced Sales SolutionPack and SalesLogix Enterprise SolutionPack are designed to provide advanced forecasting, pipeline management, and reporting capabilities, as well as enterprise-class
Petroleum industry
Brio Technology Inc., an enterprise business intelligence company, has announced support for Oracle 8i Warehouse, a comprehensive data warehouse solution. This partnership with Oracle Corporation reflects a growing collaboration between the two companies through Oracle's Warehouse Technology Initiative. The integration of Brio Enterprise suite with Oracle 8i will
Petroleum industry
Vintage Petroleum Inc. has announced the expansion and restructuring of its bank facility with Bank of Montreal, securing a new facility of $575 million. The deal includes a term loan with a borrowing base of $550 million and an $89 million letter-of-credit facility, with NationsBank serving as syndication agent and
Gas industry
Vcall Corp., a leading provider of internet-based investor communications, enables public companies to reach a broader audience of shareholders and financial professionals through its website, located at http://www.vcall.com. Crown American Realty Trust, Anadarko Petroleum Corp., and Nationwide Financial Services Inc. will hold their quarterly earnings conference calls
