Shell Oil may sell assets as part of restructuring
Article Abstract:
U.S.-based Shell Oil Co., which is undergoing a massive restructuring program, is planning to sell assets which are valued at over $1 billion. Shell Oil, which is a subsidiary of Royal Dutch/Shell Group and was the fifth-largest American oil firm in 1998, will focus on selling much of its chemical and refining operations. The company has been hurt by sliding oil prices and industry consolidation. Shell Oil recently announced the sale of an Oklahoma pipeline and oil fields in Texas and the Gulf of Mexico.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Chernogorneft creditors deal blow to BP Amoco investment
Article Abstract:
BP Amoco PLC's $484 million (Euro446.5 million) investment in Russia, has been doing even worse, ever since Chernogorneft creditors voted to sell the bankrupt OAO Sidanko subsidiary to the highest bidder. BP Amoco said that the creditors' vote was invalid, and planned to challenge it in court.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Phillips is searching for a merger partner
Article Abstract:
Phillips Petroleum Corp. is seeking a partner for a possible merger deal as a new series of mergers take place in the oil industry. Chevron Corp. has been mentioned as a possible partner.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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