Natural gas
Clark USA Inc. announced a strategic deal with Occidental Petroleum Corp. (Oxy) and Gulf Resources Corp., where it will receive cash instead of crude oil in exchange for equity positions and a $100 million cash commitment. The arrangement involves the transfer of approximately 21 million barrels of crude over six
Natural gas
Clark USA, Inc., a refining and marketing company, has announced two separate merger agreements that will result in Occidental Petroleum Corporation and Gulf Resources Corporation owning 19% and 4% of Clark's shares respectively. The agreements will enable Clark to acquire the right to receive approximately 21 million barrels
Natural gas
Temperatures in the Midwest are expected to drop 15 to 20 degrees Fahrenheit below normal, while the Northeast could see temperatures fall almost 10 degrees below average. This forecast has led to a surge in heating oil and natural gas prices on the New York Mercantile Exchange. Heating oil prices
Natural gas
Temperatures in the Midwest are expected to drop 15 to 20 degrees Fahrenheit below normal, while the Northeast could see temperatures fall almost 10 degrees below average. This forecast has led to a surge in heating oil and natural gas prices on the New York Mercantile Exchange. Heating oil prices
Natural gas
A major milestone has been reached in the development of British Columbia's natural gas industry with Westcoast Gas Services, a Calgary-based marketing subsidiary of Vancouver-based Westcoast Energy, striking a deal with Petro-Canada to build, own, and operate a $45-million natural gas processing plant in the northeast gas patch.
Gas industry
Chevron Corp. has announced that it is entering into exclusive negotiations with a bidding group for the sale of a substantial portfolio of properties. The portfolio includes 18,000 acres of land for residential and commercial development, as well as 1.7 million square feet of income-producing properties, all located
Gas industry
The Clinton administration is moving forward with plans to expand the Toxic Release Inventory (TRI) program, despite objections from the oil and chemical industries. The administration seeks to expedite a rulemaking to require reporting not only of chemicals released as waste, but also of all chemicals used. Industry representatives, including
Petroleum industry
Sonat Offshore Drilling Inc. has announced that Shell Offshore Inc. has awarded contracts to two of its fourth-generation, deep-water semisubmersibles, the Sonat Richardson and Sonat Rather. These contracts are expected to generate revenue in excess of $114 million, with the Richardson contracted for up to five years and the Rather
Petroleum industry
A recent survey by the Price Waterhouse World Petroleum Industry Group provides a valuable tool for benchmarking the accounting and financial reporting practices of leading public US oil and gas companies. The survey, titled "1995 Price Waterhouse Petroleum Industry Review: A Survey of Significant Accounting Practices By Leading U.
Gas industry
As the last remnants of apartheid fade into memory, the vibrant nation of South Africa emerges as a beacon of hope and resilience. From October 19, 1995, to February 4, 1996, the Meridian International Center in Washington, D.C., presents Panoramas of Passage: Changing Landscapes of South Africa, a groundbreaking
Gas industry
Leviathan Gas Pipeline Partners, a publicly owned limited partnership, has announced that its subsidiary, Flextrend Development Company, has secured a $32 million credit facility from a syndicate of bank lenders led by Chemical Bank. The funds will be used to finance the development of offshore projects, including the Phar Lap,
Petroleum industry
Tatham Offshore, Inc. has accepted a bridge loan commitment from DeepFlex Production Services, Inc., a subsidiary of DeepTech International Inc., to fund operating expenses and capital expenditures. The bridge loan up to $12.5 million will bear interest at 15 percent per annum and be due on July 1, 1996.
