Major oil companies are sitting on enormous piles of cash after posting record profits in recent quarters, while crumbling stock and crude prices have made many smaller oil and gas companies potential targets.
Posts on ‘November 23rd, 2008’
We have an old saying in this business: When dog bites man, its not news. When man bites dog, it is. So the latest study finding that top executives for companies at the center of the financial crisis walked away with billions in compensation in the years leading up to the current calamity seems like just another dog nipping at the heels of the beleaguered American stockholder.
Evidence is mounting of a coordinated global oil industry effort to seize upon the international economic crisis as an opportunity to rebel against ecological controls and bludgeon concessions out of governments.
LIMA, November 23 (RIA Novosti) – Liquefied natural gas supplies to Japan under the Sakhalin-II oil and gas project off Russia’s Pacific Coast will start in February next year, a Gazprom senior official said on Sunday
“There is $26 million sitting in J.P. Morgan bank, gathering dust,” he said. “All of it is earmarked for the Limestone residents.” That amount is separate from another $20 million from Shell for construction of water lines to provide Aqua Illinois service to residents where underground water has been contaminated by chemicals from the gasoline spill in 1988.