Manas Petroleum Corp., a Baar, Switzerland based company, today announces its wholly owned subsidiary, DWM Petroleum AG, has signed a Production Sharing Contract (PSC) for Blocks 2 and 3 in Albania. The blocks cover approximately 3,400 km2 (approximately 850,000 acres). The Albanian government was represented by Mr. Genc Ruli the Minister of Economy, Trade and [...]
Hydrogen Energy International LLC, a joint venture of BP Alternative Energy and Rio Tinto, announced plans to file an AFC (Application for Certification) before the California Energy Commission on Thursday, July 31, 2008, for a proposed hydrogen fuel production facility and power plant in Kern County, California. The filing initiates a comprehensive regulatory review process [...]
Plains All American Pipeline, L.P. (NYSE:PAA) announced that a wholly owned subsidiary of Occidental Petroleum Corporation (“OXY”), has entered into definitive agreements to acquire an aggregate 10% equity interest in the general partner of PAA directly from the existing owners. Closing is expected to occur within the next 30 to 45 days and is subject [...]
Occidental Petroleum Corporation announced an agreement with SandRidge Energy to develop a West Texas hydrocarbon gas processing plant and related pipeline infrastructure that will provide carbon dioxide (CO2) for use in Oxy’s enhanced oil recovery (EOR) projects. The new CO2 resources are expected to expand Oxy’s Permian production by a minimum of 50,000 barrels [...]
Rancher Energy Corp has been rated “Speculative Buy” with a target price of $7.39 by Beacon Equity Senior Research Analyst, Kris Goldcross, CFA.
The full report is available at http://www.BeaconEquityResearch.com
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In the report Mr. Goldcross writes, “The Company is [...]
Occidental Petroleum Corporation announced core earnings for the third quarter 2006 were $1.159 billion ($1.35 per diluted share), compared with $1.004 billion ($1.22 per diluted share) for the same period in 2005. See the attached schedule for a reconciliation of net income to core earnings.
Net income for the third quarter 2006 was $1.168 billion ($1.36 [...]
Executive compensation in the oil industry often leads to excessive rewards for below-average performance, according to a survey released today by The Corporate Library. The study found that too little attention is paid to linking properly designed long-term incentives to a long-term business cycle. Most compensation plans are tied to single measures, such as EPS, [...]
Occidental Petroleum Corporation announced income from continuing operations was $2.77 per diluted share for the second quarter 2006, compared with $3.63 per diluted share for the second quarter 2005. Net income for the second quarter 2006 was $857 million ($1.97 per diluted share), compared with $1.536 billion ($3.77 per diluted share) for the second quarter [...]
