PetroCosm Announces Caltex Joining eMarketplace.Business/Energy Editors & High Tech Writers HOUSTON--(BUSINESS WIRE)--Oct. 25, 2000 PetroCosm Corporation, a B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business eMarketplace for the worldwide oil and gas industry, and Caltex Corporation, the Singapore-based refiner and marketer of petroleum products, today announced that Caltex will join the PetroCosm Marketplace. The companies have signed a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. , with the objective of developing an alliance which will support Caltex operations in Asia. "This is a perfect match for the two companies," said Norman C. Chambers, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of PetroCosm. "Caltex, an energy leader in the Asia region, has been aggressively developing its eCommerce capability and PetroCosm is delighted to have Caltex join our marketplace. Given the depth and extent of its 65-year operating history in Asia, Caltex provides specific functionality and meaningful marketplace liquidity." PetroCosm will provide Caltex and its Asia partners with a fully integrated and e-enabled set of supply chain solutions. These include procurement, payment and logistics, and a full host of marketplace services. "Caltex's procurement process and other aspects of supply chain management will be considerably enhanced by PetroCosm's Marketplace solution, while allowing us to reduce our overall operating expense Operating Expense The essential things that a company must purchase in order to maintain business. Notes: For example, the payment of employees wages are an operating expense. Also known as OPEX. ," said Jock McKenzie Jock McKenzie (born October 31 1911) was an Australian rules footballer who played with South Melbourne and Fitzroy in the VFL during the 1930's. McKenzie started his career in 1931 with South Melbourne where he played in the back pocket, enjoying premiership success in , chairman and CEO, Caltex. "We have the opportunity to help structure the eCapability best suited for our needs." PetroCosm, headquartered in Houston, is creating a worldwide marketplace through alliances, joint ventures and the establishment of regional hubs. Through this operating structure, other participants such as marketers, producers, suppliers, and other members of the oil and gas community gain a technological link to the global marketplace. About PetroCosm PetroCosm, headquartered in Houston, is a B2B eMarketplace serving the worldwide oil and gas industry. This neutral marketplace brings together sellers and buyers throughout the supply chain. PetroCosm Corporation's partners include Chevron, Texaco, Crosspoint Venture Partners, Ariba and KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen . PetroCosm has offices in Houston, London, Aberdeen, Mumbai and Singapore. About Caltex Caltex Corporation, its affiliates and joint venture partners are involved in the refining, distribution and commercial and retail marketing of fuels, lubrication lubrication, introduction of a substance between the contact surfaces of moving parts to reduce friction and to dissipate heat. A lubricant may be oil, grease, graphite, or any substance—gas, liquid, semisolid, or solid—that permits free action of oils, motor oils, LNG LNG (liquefied natural gas): see under natural gas. and gas products in 60 countries, principally Africa, Asia, the Middle East, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. and Australia. It is also involved in shipping, storage, supply and trading operations. Caltex has interests in 11 refineries and 7,800 retail outlets. The company is also engaged in convenience store sales through its nearly 700 Star Mart outlets located throughout the Asia Pacific region and Africa. Headquartered in Singapore, Caltex, together with its affiliates and joint venture partners, employs more than 13,500 people. Caltex was formed in 1936 as a joint venture between the Texas Oil Company (now Texaco) and the Standard Oil Company of California (now Chevron) and continues to be jointly owned by Chevron and Texaco. DISCLAIMER: This press release contains projects and other forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of section 21E of the Securities Exchange Act of 1934, as amended. These projections and statements reflect the current views of PetroCosm and other companies referred to herein with respect to the business and prospects of PetroCosm and such companies. No assurances can be given, however, that these projections and forward-looking statements will be achieved, and actual results could differ materially from those projected. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion