New Acquisition Fuels Growth Strategy at Brady
Brady plc, the leading global supplier of trading, risk management and settlement solutions to the metals and commodities sectors, has acquired Commodities Software (UK) Limited (Comsoft), a privately held company. In the highly focused and specialised world of commodities Brady is the leader in metal trading solutions; Comsoft is a leading supplier of raw material solutions. The acquisition will position...
Hess Announces Results of Africa Exploration Drilling
Hess Corporation announced the outcome of its recent exploratory drilling program in Africa. In Libya, well A1-54/01 in the Arous Al-Bahar prospect was drilled to a depth of 11,077 feet in 2,807 feet of water. The well encountered a gross hydrocarbon section of approximately 500 feet at various intervals. Hess holds a 100 percent working interest in Area 54, which is located 38 miles offshore in the...
Plains All American Pipeline, L.P. Announces $525 Million Committed Inventory Credit Facility
Plains All American Pipeline, L.P. announced that it has entered into a new $525 million committed hedged inventory credit facility, maturing in November 2009. Borrowings under the facility will be primarily used to finance the purchase of hedged crude oil inventory for storage activities when market conditions warrant as well as foreign import activities. The new committed facility replaces a $1.2...
Sunoco Logistics Manages Order-to-Cash Process and Crude Gathering Pipelines With Synthesis(TM) Release 5.0
Entessa Inc. — the leading provider of Oil and Gas Logistics Management Solutions — delivered Release 5.0 of its Synthesis(TM) enterprise software suite to Sunoco Logistics Partners L.P.. The introduction of crude gathering pipeline support now enables Sunoco Logistics Partners to manage the entire order-to-cash logistics for its Western pipeline operations with Synthesis. Entessa is pleased...
Thomas W. Hofmann to Retire from Sunoco, Inc.
Sunoco, Inc. announced that Senior Vice President and Chief Financial Officer Thomas W. Hofmann will retire effective December 1, 2008. Hofmann, 57, began his career at Coopers & Lybrand (now PricewaterhouseCoopers) and worked in increasingly responsible positions during his 32 years of service at Sunoco, culminating in his being named Chief Financial Officer in 1998. “Over his career Tom has...
Frontier Oil Corporation Houston Office Closed Due to Hurricane Ike
Frontier Oil Corporation announced today that its corporate headquarters in Houston, Texas are closed until further notice due to a loss of power suffered during Hurricane Ike. Frontier’s corporate function will continue from different locations. To reach a member of the Houston office, please contact Janet Hunter in Frontier’s Denver office at 303-714-0134. Frontier operates a 120,000 barrel-per-day...
Hess Announces Nimblefoot-1 Natural Gas Discovery in Australia
Hess Corporation announced that the Nimblefoot-1 exploration well on Australia’s Northwest Shelf discovered natural gas. The well encountered 93 feet (28 meters) of net gas pay. Nimblefoot-1 is the third of four initial exploration wells being drilled on the WA-390-P Permit by Hess in 2008. The previous wells, Glencoe-1 and Briseis-1, were announced as discoveries on June 10, 2008 and July 20,...
Aker Solutions awarded another mining and metals contract
Aker Solutions was awarded the engineering, procurement and construction management for Kennecott Utah Copper Corporation’s new Molybdenum Autoclave Process (MAP) Project facility. The facility is to be located near Kennecott’s refinery west of Salt Lake City, Utah USA. The value of Aker Solutions’ scope is over USD 33 million out of the project’s estimated capital investment...
Enbridge and BP Announce Agreement to Develop Delivery System for Canadian Crude Oil From Illinois to the U.S. Gulf Coast
Enbridge Inc. and BP Pipelines Inc. announced they have entered into an agreement to develop a new delivery system to transport Canadian heavy crude oil from Flanagan, Illinois, to Houston and Texas City, Texas, using a combination of existing facilities and new pipeline construction where required. The new delivery system is expected to be in service by late 2012 with an initial total system capacity...
Frontier Oil Elects Leo Hoonakker Vice President Treasurer
Frontier Oil Corporation announce that Leo J. Hoonakker was promoted to the position of Vice President – Treasurer. He will report to the Vice President – Corporate Finance. Hoonakker has worked for Frontier and its predecessor companies for over 20 years and as Treasurer of Frontier Oil Corporation since 2005. Prior to joining Frontier, Hoonakker was a lending officer for First Interstate...
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