ConocoPhillips to Acquire Burlington Resources

Tuesday, December 13, 2005
Already one of the most aggressive spenders on future supplies, ConocoPhillips CEO James J. Mulva is now poised to make another huge deal: a $30-billion plus acquisition of Burlington Resources (BR), according to a Business Week report. Buying BR would be a giant bet on a red-hot U.S. natural gas market. While Burlington has international operations in Algeria, China, and Latin America, 84% of its reserves are in North America. With U.S. gas prices at record highs, ConocoPhillips is betting that supplies will remain tight for many years, according to the report. The move by ConocoPhillips would round out its expansion strategy. The company recently added capital spending to boost output at its U.S. refineries but has also been making giant international investments in Russia's Lukoil and production projects in Venezuela and Australia. Source: Business Week
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

HHI Launches Korea’s Second Minelayer

Shipbuilder Hyundai Heavy Industries (HHI) launched the second minelayer, MLS-II Nampo, for the Korean Navy.   In attendance at the MLS-II launching ceremony were Baek Seung-joo,

Philippine, Vietnamese Troops Together on Disputed Island

Vietnamese and Philippine troops played soccer and sang karaoke on a South China Sea island on Wednesday in a sign of the growing security ties between the two

Hundreds Rally in Myanmar over "boat people" Crisis

Hundreds of protesters marched through the streets of Myanmar's largest city of Yangon on Wednesday to denounce foreign criticism of the country's treatment of stateless Rohingya Muslims.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1344 sec (7 req/sec)