Petroleum
BP, the UK's largest company, recorded a surge in half-year profits to £5.6 billion ($8.45 billion), fueled by a 164% increase in group second-quarter profits. The oil giant's chief executive, Sir John Browne, attributes the success to the company's "well tried
Petroleum
BP Amoco announced this week that it is selling low-sulfur fuel in four North Carolina cities, including Greensboro, Asheville, Charlotte, and Raleigh. The new gasoline, which replaces the old premium fuel in 416 of the company's 1,600 stations across the state, contains one-tenth the sulfur of normal
Petroleum
The Alpine Group, Inc., a holding company with operations in the wire and cable industry, reported a record $547 million in revenues for its 2000 second quarter, representing a 6% increase from the same period in 1999. Net income for the quarter was $2.8 million, or $0.18 per
Petroleum
ExxonMobil Corp. has seen significant progress in combining Exxon Corp. and Mobil Corp., resulting in a 65% increase in expected annual savings. The company's board has approved a share repurchase program without providing specifics. Chairman and Chief Executive Lee Raymond stated that measures to combine the two companies
Petroleum
The world's most oppressive regime has found friends in unusual places, including some of the world's largest companies. Dick Cheney, the likely next US vice-president, and Slobodan Milosevic, the Yugoslav president under indictment for war crimes, share a common interest in doing business with Burma, despite
Petroleum
The Spanish oil company Repsol YPF and the Brazilian oil company Petrobras have closed a deal worth over $1 billion to swap assets in Argentina and Brazil. The deal, which is the result of provisions by Argentina's antitrust agency, will see Petrobras acquire 700 petrol stations and a
Petroleum
R&B Falcon Corporation has announced that its subsidiaries, Reading & Bates Development Co. and R&B Falcon Subsea Development Inc., have concluded sales to Enterprise Oil of their Gulf of Mexico E&P properties. The deals, which have an effective date of July 1, 2000, involve
Petroleum
Enterprise Oil's acquisition of R&B Falcon Corp's interests in the US Gulf of Mexico enhances its portfolio and is a strategic step towards elevating the Gulf of Mexico to a core business area. The total cash consideration for the deal is $127.25 million,
Petroleum
Seismic spending by oil and gas companies has surged in the past month, prompting Seitel officials to forecast a significant increase in revenue and earnings. According to the company, its second-quarter seismic revenue will exceed $33 million, a 48% increase from the first quarter. This upward trend is attributed to
Petroleum
Azerbaijan International Operating Company (AIOC), a major oil production project in the Caspian Sea, has achieved significant progress in recent years. The project, led by BP Amoco as the operator and consortium leader, has increased oil production from 50,000 barrels per day (b/d) in mid-1998 to 115,000
Petroleum
Halliburton Company and Petrobras announced a major partnership to develop the Barracuda and Caratinga offshore oil fields in Brazil. The contracts, valued at over $2.5 billion, will be performed by Halliburton's Brown & Root Energy Services and Halliburton Energy Services business units, along with Petrobras' Exploration
Petroleum
Azerbaijan's vast oil reserves have been a subject of speculation for decades, with the state-owned oil firm Socar and international companies providing conflicting estimates. President Aliyev recently stated that Socar's experts believe the country's total gas reserves could be around 4 trillion cubic meters,
