Business News Archive - March 09, 2009

ST. LOUIS, March 9 /PRNewswire-FirstCall/ -- Arch Coal, Inc. (NYSE: ACI) announced today that it has agreed to purchase Rio Tinto's Jacobs Ranch mine in the Powder River Basin of Wyoming for $761 million.

Comprehensive additional information is available on our website: www.sasol.com JOHANNESBURG, March 9 /PRNewswire-FirstCall/ -- Solid performance in deteriorating marketsOperating profit up 53% to R21,5 billionHeadline earnings per share up 51% to R21,92Oil hedge cushions the impact of sharp decline in oil pricesStrong balance sheet - gearing lower at 2%Overall group production volumes upOryx GTL, Arya Sasol Polymers ramp up productionCompetition law compliance under review Overview Chief executive Pat Davies says: "Sasol's deleveraged balance sheet, cash flows and liquidity position place the company in a favourable position to weather the global economic crisis.

PARIS, March 9 /PRNewswire-FirstCall/ -- Reminder of the facts In 2007, Messier Partners, a consulting firm, launched a legal action against Maurel & Prom claiming payment of a success fee following the sale of Congolese assets to Eni, the oil company.

MONTREUX, Switzerland, March 9 /PRNewswire/ -- A lack of communication from carmakers as well as poor visibility in the supply chain is damaging logistics providers and suppliers as they struggle through the downturn. Meanwhile, the growth in car sales and global production prior to the recession has created lengthy, complex supply chains that, in some cases, have become unsustainable. These were some of messages to emerge from the Automotive Logistics Europe conference last week, where nearly 200 delegates from the European automotive logistics industry gathered.

LONDON, March 9 /PRNewswire/ -- Tullow Oil plc (Tullow) announces that the Tweneboa-1 exploration well, drilled in the Deepwater Tano licence offshore Ghana, has discovered a significant highly-pressured light hydrocarbon accumulation. The well encountered 21 metres of net pay and was drilled to a depth of 3,593 metres and is currently being deepened to further assess the discovery and the up-dip limit of a potential deeper fan system. The well was optimally located to penetrate multiple targets, including the edge of an undrilled major Turonian fan system.

LONDON, March 9 /PRNewswire/ -- Tullow Oil plc (Tullow) announces that it has finalised arrangements for US$2 billion of new reserve based lend debt facilities.

CAPE TOWN, South Africa, March 9 /PRNewswire/ -- The global chemical industry experienced a dramatic downturn in 2008. However, polymers and plastics, base chemicals and agrochemicals continued to drive demand in the South African chemicals sector.

HONG KONG, March 9 /PRNewswire-Asia/ -- CNOOC Limited (the "Company" or "CNOOC Ltd.", NYSE: CEO; SEHK: 0883) announced today that OML130 in Nigeria, of which the Company holds 45% interest, has commenced production from its Akpo deep water field ahead of the operator's anticipated startup date. (Logo: http://www.prnasia.com/xprn/sa/200701301659.jpg ) Akpo, discovered in 2000, is one of the world class discoveries that have been drilled in OML130 block.

Detects Faces in Motion, Matches with Watch-list Databases and Reports Results in Real Time VILNIUS, Lithuania, March 9 /PRNewswire/ -- Neurotechnology, a provider of high-precision biometric identification technologies, today announced the availability of VeriLook Surveillance SDK, a software development kit for biometric face identification using live video streams from high-resolution digital surveillance cameras.

Industry Leader to Focus on Company's Renewable Strategy to Meet Growing Demand HOUSTON, March 9 /PRNewswire-FirstCall/ -- Quanta Services, Inc. (NYSE: PWR) today announced that Peter Lorenz has been named president of Quanta Renewable Energy Services, LLC.

Word of the Day
  • The governor of a province or people.
The word 'ethnarch' comes from a Greek word meaning 'ruler of a tribe or nation'.