Petroleum
Gerard Depardieu, the French film actor, has invested significantly in Pebercan, a Canadian oil explorer listed on the Montreal stock exchange. His stake in the company, which is searching for oil off the coast of Cuba, has resulted in financial losses. Despite this, Depardieu appears undeterred, and there are rumors
Petroleum
Lundin Oil AB, a 50% owner of Sodra Petroleum AB, has reached an agreement with Desire Petroleum Plc to earn a 12.5% working interest in Tranche F, offshore the Falkland Islands. This agreement marks a significant development in the exploration of the North Falkland basin, where Sodra will mobilize
Petroleum
Statoil, a leading oil major, has signed a significant agreement with AspenTech to standardize their production planning and process management systems across two refineries in Denmark and Norway. The project aims to improve operational efficiency, productivity, and profitability by leveraging AspenTech's Plantelligence suite. Under the terms of the
Petroleum
Negotiations between the Communications Electrical and Plumbing Union (CEPU) and Telstra management have been ongoing for 13 months, with the CEPU requesting an 8 percent annual wage rise and increased job security for its 50,000 members. The union claims that Telstra's refusal to negotiate a fair enterprise
Petroleum
Key Energy Group, Inc., a leading provider of energy operations and services, has completed the acquisition of Colorado Well Service, Inc. and several oilfield service assets of TransTexas Gas Corporation. The total cash consideration for the three transactions was approximately $28 million, with $20 million allocated for the TransTexas Assets.
Petroleum
Key Energy Group, Inc., a holding company with diversified energy operations, has received commitments for $700 million in funding to support its acquisition of Dawson Production Services, Inc. The company announced that it has entered into commitment letters with Lehman Commercial Paper, Inc. and Lehman Brothers, Inc. for $150 million
Petroleum
In a pivotal move just before the expiration of the September light, sweet crude oil contract on the New York Mercantile Exchange (Nymex), oil prices jumped 24 cents per barrel in New York on Wednesday. However, the gasoline market suffered as a result, failing to capitalize on the bullish American
Petroleum
As British Petroleum (BP) navigates the complex aftermath of its acquisition of US oil company Amoco, the company is seeking the expertise of remuneration consultants to re-evaluate pay scales for senior management. This move will likely result in higher compensation packages for executives who survive the shakeout following the merger.
Petroleum
The planned merger between British Petroleum (BP) and the US-owned Amoco has sparked speculation that Sir John Browne, BP's group chief executive, aims to create a super-league player in the oil industry, rivaling Exxon and Shell. The deal, set to be completed next year, will form a London-based
Petroleum
The long-anticipated merger between British Petroleum (BP) and US oil giant Amoco is set to create Britain's largest company, worth a staggering $67 billion. The new entity, to be called BP Amoco, will boast combined revenues of $66.26 billion annually, placing it among the top three international
Petroleum
The recent market turmoil has led to widespread losses for several companies, including Triton Energy Ltd. and General Motors Corp. Triton's shares have plummeted by about 60 percent since early May, while GM is reeling from the costliest labor dispute in its history. As investors grapple with the
Petroleum
A class action lawsuit has been filed on behalf of all persons who purchased Triton Energy Limited common stock between March 30, 1998, and July 17, 1998, alleging that the company and its officers and directors artificially inflated the stock price during this period. The lawsuit seeks to recover damages
