The Abu Dhabi Stock Exchange is to adopt the XBRL standard for coding items of financial information. XBRL is a standards-based financial reporting protocol - see www.xbrl.org.
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Baker Hughes Inteq president Ray Ballantyne is to retire after 30 years of service. Baker Atlas President Martin Craighead is to replace him. David Barr is to take on Craighead’s role on an interim basis.
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Aspen Technology has appointed Frederic Hammond as senior VP and General Counsel. Hammond was previously with digital video specialists Avid Technology.
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A report from Cambridge Energy Research Associates (CERA) has determined that oil production capacity is set to increase dramatically over the rest of this decade. Supply could exceed demand by as much as 6 to 7.5 million barrels per day later in the decade.
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Rene VandenBrand is now president and CEO of Kelman Technologies. The company also reports that it has raised $ 1 million in private financing from four of its officers.
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The Geospatial Information & Technology Association (GITA) has been awarded a $700,000 grant from the U.S. Department of Labor to conduct a study of workforce readiness for jobs in the geospatial sector.
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Network Appliance has unveiled two midrange storage systems, the FAS3020 and FAS3050. The FAS30xx systems are said to be suited for a variety of energy industry demands.
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Neuralog has announced NeuraWellTool (NWT), a well log access, correlation and log markup application. NWT interfaces with online and local data sources, as well as with the NeuraScanner log scanner and the NeuraLaser printer. The company also reports major sales to Pemex and PDVSA.
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The Benchmarking Network is to initiate new studies of the accounts payable processes and IT procurement. More from www.ebenchmarking.com.
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Ade Audifferen is to head-up GE Energy’s Oil and Gas service center in Port Harcourt, Nigeria.
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POSC has upated its units of measure dictionary of conversion quantity class data. The information is available on www.posc.org/refs/poscUnits20.xml and www.posc.org/refs/poscUnitsClasses.xml.
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Aker Kvaerner is restructuring its Oil, Gas, Process and Energy (OGPE) business. The EPC capital projects and technology solutions to oil and gas client is now headed by Les Guthrie.
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Abu Dhabi National Oil Company unit ADMA has upped the capacity of its Linux geophysical processing cluster to 120 Itanium 2 nodes.
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Scotiabank has acquired oil and gas financial advisors Waterous & Co. with the intent of creating a one-stop oil and gas mergers and acquisitions shop.
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Seitel has appointed William Restrepo as executive VP, CFO and company secretary. Restrepo hails from Schlumberger where he was CFO for the Americas. Marcia Kendrick continues as senior VP, treasurer and chief accounting officer.
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A new report from Wood Mackenzie finds that ‘life is getting harder for explorers who are hit by rising finding costs and the falling value of discoveries.’
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