Both suitors were prepared to pay £25m for a 70% stake in the petroleum exchange.
INTERNET CAPITAL GROUP INC., Wayne, Pa., an investor in online industrial commerce companies, will invest up to $15.6 million in FuelSpot.com Inc. of North Chelmsford, Mass., an online crude and refined petroleum exchange, and may invest as much as $7.8 million more.
This strength ap parently reflects an offer by Phillips Petroleum to exchange common stock for the assets of Midwest Oil.
Land distribution was stepped up, an irrigation program was begun, and in 1925 renewed pressure was put on the petroleum companies to exchange for leases the titles they had obtained from Díaz.
Prices of most Treasury securities inched higher in thin, volatile trading yesterday, as traders nervously reacted to sudden shifts in the foreign exchange and petroleum markets as well as a potpourri of rumors.
In August it agreed to be acquired for $69 million by Petroleum Place, an online exchange for the energy industry that's based in Englewood, Colorado.
Nigerian businessman Femi Otedola's net worth has plunged from $1.8 Billion to $550 Million following a massive drop in the stock price of Forte Oil, the Nigerian Stock Exchange-listed petroleum marketing company.
Calvin Sims (NYT) INDIA: TRADE WITH IRAQ Officials said India had agreed to export wheat to Iraq in exchange for Iraqi crude oil and petroleum products, but that the deal would first have to be approved by the United Nations sanctions committee.
White House officials said that the Defense Energy Supply Center, a Defense Department unit responsible for military fuel procurement, will begin seeking offers in about two weeks from refiners in exchange for the strategic petroleum reserve crude.
Such "strategic partnership agreements" have been a way to steal cash from federal coffers, says Lamido Sanusi, a former central-bank governor sacked by Mr Jonathan for alleging that $20 billion in oil revenue had vanished.Opaque "swap" deals, whereby crude exports are exchanged for refined petroleum brought back into the country, may also come under scrutiny.
Natal stream water odorants have been reported to be absorbed on activated carbon and ion-exchange resin, insoluble in petroleum ether, dialyzable, non-volatile, and heat-stable from spectral analysis of the olfactory bulbar response [18].
