Petroleum
Exxon and Mobil announced a historic $US77.2 billion merger, forming the world's largest oil company, Exxon Mobil Corp. The combined entity will surpass Royal Dutch-Shell Group and General Motors Corp in size, with a total revenue of $US 203 billion last year. The deal is expected to
Petroleum
BP's proposed $30 billion acquisition of Amoco, announced in August, is facing new complications due to talks between Exxon and Mobil to form the world's largest oil company. The potential merger could impact the oil market and competition in the petroleum products market, prompting US regulators
Petroleum
The Abu Dhabi Polymers Company Limited (Borouge), a joint venture between The Abu Dhabi National Oil Company (ADNOC) and Borealis, has announced a deal worth over USD600 million to build an ethylene plant in the United Arab Emirates. The plant, expected to start construction in the first half of 1999
Petroleum
BlackRock Ventures Inc. today reported its third quarter 1998 results, with the Cold Lake pilot project reaching a milestone as October average production exceeded 600 barrels of bitumen per day. The company's equity share of Rayrock's losses for the first nine months of 1998 contributed to
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
Despite a 1.5% gain in The Oil Daily 30 Composite index, energy shares trailed the broader market last week. Led by independent producers and oil service companies, the sector managed to post a small advance despite sliding crude oil prices. The Dow Jones Industrial Average surged 4.7% to
Petroleum
The UK government has welcomed the announcement that British Petroleum (BP) is to invest £300 million in its petrochemical plant at Grangemouth, Scotland, creating 3,180 jobs. The investment includes extending the KG ethylene plant and constructing a new site for ethanol production, which will increase capacity by 65% to
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
BP and Statoil, the Norwegian oil and gas giant, are expected to sign new cooperation deals for countries where they have joint ventures following the proposed merger between BP and Amoco. The two companies have successfully collaborated in areas outside the North Sea and North America, including joint ventures in
Petroleum
Nalco Chemical Co. plans to trim 345 jobs, about 5 percent of its workforce, by the end of the year, citing declining sales in Asia and Latin America as well as cheaper chemical imports. The company will offer early retirement packages to approximately 500 employees, with the fate of others
