COMPANY NEWS: Megamajors open door to China expansion plans
Megamajors BP, ExxonMobil Corp., and Royal Dutch/Shell Group have signed separate strategic joint-venture agreements with China's state oil and petrochemical company, Sinopec Corp., to pave the way for their respective expansion plans in the country.
PERSONNEL MOVES AND PROMOTIONS: Marathon consolidates US upstream sector, appoints new senior team
Marathon Oil Co., a unit of USX Corp. unit USX-Marathon Group, Pittsburgh, plans to consolidate parts of its US upstream organization in an effort to cut costs by $75 million/year and provide the company the footing to expand its business globally.
Watching the World: Production at what cost?
Through the latter half of the 1990s, the UK North Sea offshore industry was eager to hold itself up as a shining example of a forward-looking business that had been streamlined by rigorous, if sometimes painful, cost-reduction practices.
Watching Government: Energy strategy
American Petroleum Institute Pres. Red Cavaney says the US needs to open a discussion on drafting a national energy strategy.
E&P strategy prepares producers for 21st century
The exploration and production industry has bred a set of established rules for success over the past several decades.