Centrica comes in from the cold

Article Abstract:

Centrica is a United Kingdom gas company supplying almost 19 million households and owning the British Gas name. Centrica was created from the division of British Gas into BG and Centrica. Centrica has problem long-term contracts to buy gas, but also has a large gas field in Morecambe Bay, England. The company will be affected by gas prices and the extent to which its market share is eroded. Cash inflows will be large, and Centrica has to decide whether to return funds to stockholders or develop a comprehensive energy group.

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British Gas

Article Abstract:

British Gas saw a drop in underlying pre-tax profit to 1.44 billion pounds sterling in 1994 and mild winter weather affected operating profit. The company aims to reduce costs prior to competition being launched in the UK market for domestic gas distribution. Voluntary redundancy has been accepted by 10,000 employees and a further 15,000 are scheduled to leave prior to 1999. The company's non-core operations are performing well, and British Gas shares are recommended for investors.

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Oil, gas and energy

Article Abstract:

Romania has a long history of involvement in the petroleum industry, with the first petroleum concern set up in 1864. The government has granted licenses to foreign companies to explore, and Enterprise Oil is one foreign company interested in Romanian petroleum resources. Romania produces four fifths of its natural gas requirements, and the Romanian Natural Gas Corporation, Romgaz, controls delivery and transportation of gas. Romgaz has received foreign aid in order to modernize.

PETROLEUM AND COAL PRODUCTS, Petroleum, Petroleum and Coal Products Manufacturing, Petroleum industry, Romania

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