Apache grows through strategic acquisitions, contrarian philosophy
Apache Corp. has reached a critical mass as of late, metamorphosing into a "superindependent" through a succession of carefully selected and acquired assets located in or near its core areas of operation. In doing so, the Houston-based independent has reaffirmed actual and projected gains in production, reserves, earnings, and cash flow.
Watching Government: SPR backfire
The Clinton administration's political decision to release oil from the Strategic Petroleum Reserve has become a political embarrassment.
DOE gets $100 million for fuel cell program
The US Department of Energy will have about $100 million for fuel cell related programs in the new fiscal year, including $52.7 million for stationary fuel cell programs, $10 million more than the Clinton administration asked.
COMPANY NEWS: Chevron, Texaco agree to merge in all-stock deal
Chevron Corp. early last week confirmed widely rumored speculation that it and fellow US oil company Texaco Inc. have agreed to a merger based on a stock acquisition valued at about $35 billion.
Chevron, Texaco merger to boost convergence, electric power
Chevron Corp.'s 26% stake in energy merchant Dynegy Inc. and Texaco Inc.'s gasification expertise will boost the combined ChevronTexaco Corp.'s options in the "fast-growing gas and power convergence business," Dave O'Reilly, Chevron chairman and chairman of the proposed combined company, said during a press conference Oct. 16.
Middle East tension heightens market concern
Escalation of Middle East violence related to the Palestinian-Israeli conflict earlier this month triggered a near 10-year high in some international oil futures prices amid new fears of possible disruptions of oil supplies.
Watching the World: Pricking the gas bubble
Two months after the European Union acted to enforce liberalization of natural gas markets, industry opinion about the directive is increasingly voluble.