Focus on growth vs. costs key to oil company merger success
Global merger activity is at an historical high, despite the fact that most mergers fail to deliver superior returns to shareholders.
JP Morgan: More oil mergers looming on horizon
The global oil and gas industry will see another wave of major mergers within the next 2 years, as the "bigger is better" trend in consolidation continues.
Petrobras targets 2005 for oil self-sufficiency
Petroleo Brasileiro SA (Petrobras) will invest $29.4 billion by 2005 to become self-sufficient in crude oil production.
Royal Dutch/Shell: Oil industry must update financial model
Many of the oil industry's long-standing financial policies need updating to adjust to a business environment being transformed by technology, sector maturity, and the digital economy.
US reserve values edge higher despite fewer deals
The value of reserves in US oil and gas asset transactions increased in the fourth quarter of 2000, in spite of a lag in the number of deals completed.
COMPANY NEWS: Canadian firms report record 4Q, full year 2000 profits
Some major Canadian oil and gas companies reporting fourth quarter and full year 2000 earnings have shown record gains.
PERSONNEL MOVES AND PROMOTIONS: Chevron, Texaco appoint executives to head merged firm
Chevron Corp. and Texaco Inc. have appointed several senior executives to lead their newly formed company, ChevronTexaco Corp., once the merger closes (OGJ, Oct. 23, 2000, p. 28).
Statoil's massive restructuring on track for 2001 completion
The top-to-bottom restructuring that state-owned Norwegian oil and gas giant Statoil AS launched 3 years ago is on track to be completed by yearend.
Industry praises Murkowski's omnibus energy bill
US oil industry groups have praised Sens. Frank Murkowski (R-Alas.) and John Breaux (D-La.) for opening debate on a comprehensive national energy strategy.
Watching the World: Many shades of green
The warning shot fired by the Norwegian Oil Industry Association (OLF) across the Ospar Convention's bow recently for the latter's desire to further tighten regulations governing discharges of oil-in-water might, at first glance, have seemed misguided in an increasingly environmentally aware industry.