Elf seeks to double its net in five years by slashing jobs and acquiring rivals

Article Abstract:

Elf Aquitaine SA is beginning a major restructuring program that represents the firm's attempt to double its net income within a five-year period. The program entails major job downsizing and other cost-cutting moves. Some analysts gave their approval to Elf's plans. The chief executive of Elf, Philippe Jaffre, said that the company is planning to cut its oil exploration and production division by almost 2,000 jobs.

Comment:

Begins major restructuring program represents firm's attempt to double its net income within five-year period

Abstract

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Elf Aquitaine considers paying a special dividend

Article Abstract:

Elf Aquitaine SA is considering paying shareholders a special dividend. The move could strengthen the firm's defense in its takeover fight with TotalFina SA.

Planning

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OPEC Won't Lift Output Despite Iraq's Export Halt

Article Abstract:

OPEC says they won't lift the output of Saudi Arabian oil export, despite the current status of the petroleum industry.

Market information - general, International, Statistical Data Included, Organization of the Petroleum Exporting Countries

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