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 September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

Video: USCG Medevacs Navy Sailor off Virginia

The U.S. Coast Guard (USCG) medevaced a man Wednesday from a Navy vessel off the Virginia coast after watchstanders at Coast Guard Sector Hampton Roads in Portsmouth

WWII Wrecks Found 30 Miles off US Coast

The wreck of a World War Two German U-boat and a freighter that sank 72 years ago have been discovered off the North Carolina coast by U.S. researchers, officials said.

US Navy Christens Future USS Detroit

The U.S. Navy christened the future USS Detroit (LCS 7), the fourth Littoral Combat Ship of the Freedom variant, in a ceremony at Marinette Marine Shipyard in Marinette, Wisconsin, Oct.

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1261 sec (8 req/sec)