Govt to restructure oil firms to compete with China
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Prime Minister Manmohan Singh said on Sunday his government endorsed moves to restructure state oil firms to make them stronger and capable of competing with China in international markets.
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Oil giant Royal Dutch/Shell said on Monday it had agreed to a restructuring of its Gasunie gas division with the Dutch government and business partner ExxonMobil.
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The International Energy Agency on Tuesday urged major Asian economies to work together to develop oil and natural gas fields in Siberia, and offered to act as a go-between.
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After 171 years, Shell is to move its headquarters from London in a shake-up which will see it formally merged with its partner company, Royal Dutch, to create a 100 billion oil giant.
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An agreement to divvy up the country's oil revenues is drawing opposition from politicians and unions, who argue that it could further divide the country
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British government announced on Thursday the details to restructure the country&#39;s army forces, saying that the changes would make it more flexible and specialized.
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Royal Dutch/Shell announced radical plans to merge its separate holding companies in an overhaul of its corporate governance structures after a review triggered by its oil reserves scandal.
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The government is expected to slash customs and excise duties on petroleum products in a bid to control inflation without hurting the profitability of oil firms, an oil industry official said on Monday.
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Asian giants and economic rivals India and China are locked in battle to secure stakes in oil fields and blocks in the new energy haven of West Africa, officials and analysts here say.
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Petroleum giant Halliburton Co., on Thursday said its engineering and construction unit KBR will be reorganized from five product lines to two divisions - energy and chemicals, and government and infrastructure.
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BEIJING, Aug. 30 -- The Chinese government announced Thursday that five senior officials were being replaced, including the finance and state security ministers, as part of a broad realignment leading up to a crucial Communist Party congress in October.
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Royal Dutch/Shell Group (RD.AS) (SHEL.L) said it would jointly operate 180 gas stations in China by the end of 2004, the second foreign oil major after BP to enter the country's huge but tightly controlled retail market.
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Vietnam is making headway in creating a more level playing field for foreign investors, but more reform must take place in order for competition to flourish, business leaders said Monday.
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The move is part of a strategy by the energy services giant to concentrate its efforts in the Middle East.
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Many foreign firms investing in China are to lose tax benefits under reforms proposed by the government.
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Royal Dutch/Shell will merge its Dutch and British holding companies, the oil giant said on Thursday, as it seeks to address the failings that led to a shock downgrade in proven oil reserves in January.
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As this Central Asian oil-producing nation prepares for critical parliamentary elections Sunday, both the government and opposition are trying to play the oil card to their own advantage.