Oil, Venezuela's Lifeblood, Is Now Its Social Currency, Too

Article Abstract:

Under Hugo Chavez's administration, the Venezuelan oil giant Petroleos de Venezuela is no longer interested in increasing production to meet American wishes, and using its profits to fund social programs.

Government domestic functions, Financial management, Production management, International economic relations, Public affairs, Venezuela, Economic aspects, Finance, Political activity, Energy policy, Political aspects, Chavez, Hugo, Company financing, Petroleos de Venezuela S.A.

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Lukoil of Russia Bids for a Caspian Producer

Article Abstract:

Russian oil giant Lukoil, has offered $2 billion to purchase Nelson Resources Ltd. This will be Lukoil's fourth acquisition of oil fields in Kazakhstan.

Acquisitions & mergers, Securities issued, listed, Kazakhstan, Russia, Bermuda, Mergers, acquisitions and divestments, Company acquisition/merger, Securities, Natural resources, Company securities, OAO Lukoil, Nelson Resources Ltd., LUKOY

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Shell Says Overstated Reserves Led to Exaggerated Profits

Article Abstract:

Royal Dutch/Shell Group admits that profits had been exaggerated due to faulty accounting.

Legal issues & crime, Netherlands, Corporate Profits, Capital funds & cash flow, Company legal issue, Investigations, Profit, Accounting and auditing, Profits, Royal Dutch-Shell PLC, Accounting procedures

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