A Pure Play in Online Oil, the Internet Analyst News.Business Editors NEW YORK--(BUSINESS WIRE)--June 9, 2000 The oil and gas industry has shifted dramatically toward e-business during the past five months, with major players joining forces to develop business-to-business electronic exchanges. Petroleum Place (PPLC PPLC Prospect Park Living Center (Estes Park, CO, USA) :proposed) is set to change that with its upcoming initial public offering. The company is an online marketplace serving the upstream petroleum industry. PPLC competes with a number of private companies that specialize in petroleum e-commerce, including Schlumberger's (NYSE NYSE See: New York Stock Exchange :SLB) Indigopool.com and Verticalnet's (Nasdaq:VERT) Oil & Gas Online.com. In mid-April, Commerce One (Nasdaq:CMRC CMRC Canadian Motosport Racing Club CMRC Commerce One Inc. (stock symbol) CMRC Caribbean Marine Research Center CMRC Crime Mapping Research Center CMRC Credit Management Research Centre (UK) ) announced that 14 leading energy and chemical companies plan to launch an exchange using its Marketsite platform. Founding partners include BP Amoco (NYSE:BPA BPA British Paediatric Association. ), Conoco (COCB) and the Royal Dutch/Shell Group, which is owned jointly by Royal Dutch Petroleum (NYSE:RD) and Shell Transport & Trading (NYSE:SC). The exchange is expected to be launched by the end of June, the same timing as the projected opening of Petrocosm.com. Petrocosm is a new petroleum supply procurement marketplace being created by Ariba (Nasdaq:ARBA), Texaco (NYSE:TX), Chevron (NYSE:CHV CHV canine herpesvirus. ) and a venture capital partner. Personify (PSFY:proposed), SynQuest (SYNQ:proposed), Petroleum Place (PPLC:proposed), Rediff.com India (REDF REDF Roberts Enterprise Development Fund (San Francisco Bay area, California) REDF Real Estate Development Fund :proposed) and Chello Broadband (CHLO:proposed) are among this week's IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. Updates. To find out more about the oil & gas industry, read the article in Multex.com's The Internet Analyst(sm), www.theinternetanalyst.com/min-tia/individual/000608sections/ipoupdate.html. Companies profiled: Verticalnet (Nasdaq:VERT) http://www.multexinvestor.com/af001215/tickersearch.asp?Ticker=vert Schlumberger (NYSE:SLB) http://www.multexinvestor.com/af001215/tickersearch.asp?Ticker=slb Commerce One (Nasdaq:CMRC) http://www.multexinvestor.com/af001215/tickersearch.asp?Ticker=cmrc |
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