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Soaring costs take shine off oil bonanza
The cost of building and developing offshore oil and gas projects has risen by more than 50 per cent over the past few years, one of the world’s leading energy consultancies has warned. The huge surge in cost has been overshadowed by the record profits the oil majors have generated in recent years.
Last week, ExxonMobil, [...]
Hydro to Pursue Long-Term Growth as Focused Aluminium Company
Hydro will continue as one of the world’s leading, integrated aluminium companies following the recommended merger of Hydro’s oil and gas activities with Statoil.
“The restructuring of Hydro’s aluminium activities is nearly complete. Hydro is ready to move on as a strong and focused aluminium company aimed at growing profitably through targeted international business development, operational [...]
Norsk Hydro to Grow From Broader Oil and Gas Portfolio, Maintains Speed in Aluminium Repositioning
Hydro is well-positioned for long-term profitable growth in its energy and upstream aluminium operations but industry capacity constraints delay oil and gas production growth, the Norwegian-based company said at its Capital Markets Day. Growing Hydro’s oil and gas resource base, pursuing upstream aluminium growth opportunities and maintaining cost control remain top priorities, together with completing [...]
Iranian Leader Calls Chavez a ‘Trench Mate’
The presidents of Iran and Venezuela, leading U.S. critics, pledged Saturday to support one another in disputes with Washington, with the Iranian calling Hugo Chavez “a brother and trench mate.”
As Chavez arrived for a two-day visit. Iran faced renewed international criticism for its nuclear program and for backing Hezbollah guerrillas in its war with Israel.
The [...]
