Word: moroccos
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...deal itself. They just need the product." The emergence of giant Asian buyers on the market has made Van Dyke's dealmaking much easier. At one point, Sinopec and CNOOC, another Chinese state oil firm, were unwittingly bidding against each other for a single block off the coast of Morocco. CNOOC's failed attempt to buy Unocal for $18.5 billion earlier this year and India's bids against China in deals in Ecuador and Kazakhstan signaled that the two countries are serious about oil. In the process, they have given new life to the risky business of wildcatting...
...Dyke's scale. On a trip to Libreville, Gabon Van Dyke shook hands with President Omar Bongo, in power since 1967 and one of the most entrenched rulers in the world. Van Dyke has signed similar leases for the right to look for oil with the leaders of Morocco, the Ivory Coast, Equatorial Guinea, Ghana and Madagascar...
...that will determine Van Dyke's success. Thanks to intense demand for production, the cost of operating a drilling rig is now $400,000 a day; it was half that just a year ago. This year alone, Van Dyke drilled two dry holes off the coasts of Morocco and the Ivory Coast. Next year he'll try again in Morocco and in Ghana. He has just finished a $15 million 3-D seismic program in Madagascar, and he is planning his first well there, 6,000 ft. underwater. "You might spend $20 million on a well...
...open-plan management and quick response to new ideas, he says, Spanair can thrive in a tough market: "We have a cost structure comparable to [low-cost pioneer] EasyJet," steady profits and room to grow. Passenger numbers have jumped almost 20% this year. Spanair plans to expand to Algeria, Morocco and Switzerland in 2006. And it's aiming to be No. 1 in the Spain-Scandinavia market within a year. "We're the underdog," but that's a great thing to be, Nygaard says...
...What jihad is this," asked Jordanian columnist Taher Adwan, "when a young Arab man enters a hall where a wedding of Jordanian citizens is taking place to inflict the heaviest losses in life?" A similar local backlash against terrorism occurred when al-Qaeda attacks killed civilians in Saudi Arabia, Morocco and Egypt...