Two brokerage executives step down in China probe

Article Abstract:

Two executives at J&A Securities, the most profitable brokerage company in China, resigned from their positions after they were questioned by government officials over financial irregularities. J&A's chairman Zhang Guoqing and President Yang Jun handed in their resignations as China attempts to control a growingly out-of-control financial system. China is trying to control its financial system before another major economic crisis begins in the Asian region.

Comment:

Two executives at J&A Securities, the most profitable brokerage company in China, resign from their positions

China, Executive changes & profiles, Securities Brokerage, Stockbrokers, J and A Securities

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Mobil and Shell plan a refining venture by Australian units

Article Abstract:

Mobil Oil Australia Ltd. and Shell Australia Ltd. announced that they will jointly create a refining venture that will have a daily 400,000 oil barrel capacity. Both firms signed a memorandum of understanding to that effect. Mobil Oil Australia and Shell Australia stated that the joint venture would permit refiners in Australia to successfully compete against Asian exports. The Australian businesses of both firms will be merged in the deal.

Comment:

Co and Mobil Oil Australia will jointly create a refining venture that will have a daily capacity of 400,000 barrels of oil

Australia, Joint ventures, Petroleum Refineries, Petroleum Refining, Shell Australia Ltd., Mobil Oil Australia Ltd.

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Mobil, Royal Dutch quit project in Peru to supply natural gas

Article Abstract:

Mobil Oil Corp. and Royal Dutch/Shell Group of Cos. are withdrawing from the huge Camisea natural gas project located in Peru. Both firms asserted that the project became unprofitable following the Peruvian government's demands to provide gas locally at reduced prices. Mobil and Royal Dutch have spent $250 million and more than two years in the development of the fields. The fields are located approximately 350 miles east of Lima.

Comment:

Mobil Oil Corp. and Royal Dutch/Shell Group of Cos. withdraw from the huge Camisea natural gas project located in Peru

Natural Gas, Crude Petroleum and Natural Gas Extraction, Peru, Natural resources, Mobil Oil Corp., Royal Dutch/Shell Group of Cos.

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