Category Archives: Business

Penn West Downsizes and Changes Name to Obsidian Energy

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In June 2017, Penn West Petroleum changed its name to Obsidian Energy. Obsidian Energy now aims at being accountable to its stakeholders including the shareholders, partners and the public based in the areas they operate in. The oil and gas production company commit to attaining growth in the coming years by being keen interest in their budgeting needs especially concerning the cost of oil and gas.

 

The change of name comes as no surprise following the scandal that rocked Penn West in 2014. At the time, David Dyck, the company’s newly appointed chief financial officer, discovered irregularities at the institution and reported them. The error had $300 million in expenses miss-classified, which forced the company to restate its 2012, 2013 and part of 2014 financial reports. This resulted in lawsuits based on accounting irregularities in Canada and class-action lawsuits in the United States.

 

Other than surviving this scandal, the company also survived a commodity price crash and four years of high debts, which saw it go through both financial and operational difficulties. To sail through the turbulent times, Penn West made asset sales. The disposal of its assets helped to bring down the net debt to just $384 million down from three $3 billion.

 

The company also reduced its workforce starting in 2012. This undertaking saw the number of employees decline from 1,415 to around 400 by the end of 2016. There was a halt in the payment of dividends, and members of the board of directors went without compensation. Click Here for more information.

 

The 26th June change of name came into effect after 92 percent of the shareholders voted for a change of name. With Obsidian undergoing these massive changes, it was imminent for the company to distance itself from the four years strain and mishaps to give it a facelift.

 

Obsidian Energy is now an oil and natural gas production company based in Calgary, Alberta. Its gas and oil fields are found in one of the world’s largest petroleum reserves in Alberta. In a day, it has an estimated production of 30, 000 barrels of oil.

 

See: http://calgaryherald.com/business/energy/restructured-penn-west-proposes-name-change-to-obsidian-energy

Gregory Aziz- CEO Of The Leading Manufacturing Company; National Steel Car

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Greg Aziz is an entrepreneur who has been in the engineering and manufacturing sector for some time. He is the chairman and the CEO of the biggest manufacturer of railroads cars in North America known a National Steel Car. National Steel Car has been in this industry for over a hundred year. Formed in 1909, it is the only company that has been able to survive for that long. National Steel Car has survived economic depressions ad technological advancement in the industry to survive for so many years. The company is located in Hamilton, Canada. The company deals with three levels of operations namely; engineering, design, and manufacturing.

 

Greg Aziz is from Ontario, Canada. He went to the University of Western Ontario where he did a degree in economics. After graduating from the university, he joined a family business that dealt with wholesale foods supply. As an economist, he helped the family grow that company into a regional food supplier. The company began importing food from other continents. It also expanded its supply to Canada and United States. His contribution to the company was huge and even after he left the company continued with this growth for many more years, it was ranked as the biggest importer of fresh foods in North America. Go To This Page for more information.

 

 Gregory J Aziz moved to New York to look for job opportunities in the investment banks. While working in the investment banks, he met Dofasco who were the owners of the National Steel Car. Since they were unable to sustain the growth of the company, they sold it to Gregory J Aziz. Greg Aziz was determined to renovate the company and make it better than it was. He was ready to pump money into the group to enable it to change its production systems. Greg Aziz being a brilliant entrepreneur managed to look at all the areas that needed improvement and came up with a strategy that set the company on a path of development. 5 years after he took over the management of the company, the production capacity was no longer the same. National Steel Car was producing over 12500 railroad cars. This was a great improvement from the production of 3500 cars in a year that was produced before he took over the management,

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National Steel Car is now a fully developed company in the region with an ISO certification and a 13 consecutive TTX SECO quality awards. This an award for the company that produces the best quality products.

 

See Also: https://remote.com/greg-aziz

Market America Convention 2017 Becomes Most-Memorable Event in Company’s History

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Every year, Market America Inc. holds its yearly convention to bring together independent partners and entrepreneurs in order to highlight the company’s success as well as bring the latest product information. The Market America Convention 2017 was more than just its typical entertaining and enthusiastic event; it was a celebration of a quarter of a century in business. For 25 years, the company has made a tremendous impact on the retail industry through online sales with shop.com.

The convention, which was held in Greensboro, North Carolina near the company’s headquarters, was a gala-event with several celebrities attending such as Jamie Foxx, Alicia Keys, Scottie Pippen and LaLa Anthony. The actors, actresses, song-writers and producers were there to support the company and offer their encouragement to independent partners who were also privileged to many selfies with their smartphones and autographs.

The conventions are a way to give back and recognize the important role that each independent partner plays in the company’s success. The convention also marked the unveiling of some of the company’s new product lines for independent partners to begin presenting to their customers.

This year’s convention will now be a part of the company’s extraordinary history within online retail as the most-memorable experience for everyone who attended, including Chairman and CEO J.R. Ridinger. After the convention, Mr. Ridinger said, “Without a question…it was one of the most-incredible times in the entire 25-year history of the company.”

In 1992, Mr. Ridinger founded one of the most sought-after companies in the country for entrepreneurs to develop a business enterprise and live the life they deserve for their hard efforts. The convention was a fantastic experience with everyone coming together in support of one another and celebrating the accomplishments of the company’s continued ground-breaking business model.

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Desiree Perez a Shrewd Entrepreneur and a Terrific Negotiator

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One of the most lucrative deals entered in 2008 between Jay Z, and Live Nation is coming to an end. The deal which was a ten-year deal saw Jay Z pocket a cool 150 million dollars. The deal is set to expire in 2018 and could trigger a buy-sell agreement between the two players meaning that one faction could decide to sell its stake to Roc Nation or entirely buy the company outright.

According to sources that are privy to some information concerning new developments in the industry states that Live Nation wants to continue with the deal but only on the touring side not on the recorded music side. From an insider source, the deal is between Jay Z and Live Nation is not going to be extended since Live Nation is not in the business of buying recorded music anymore however they intend to continue with the productive touring relationship with Jay-Z.

Jay Z was seen in the company of Roc Nation Executive Director Desiree Perez in a meeting at Universal Music Group offices that was also attended by UMG CEO Sir Lucian Grainge. The meeting sparkled speculations that there could be a deal entered between Roc Nation Universal Music Group. Already Roc Nation and UMG have a distribution deal.

About Desiree Perez

Desiree Perez is a force to reckon with in the music industry. She is popularly known for possessing excellent negotiations skills and as a result has been able to help several artistes achieve success in the music industry. One of the artists that has greatly benefited from Perez business and management skills is Sean Carter also known by the stage name Jay-Z. The two have had a good working relationship for years, and in those many years, Perez has helped Jay-Z secure major deals with big multinationals companies. Perez has also worked with other top celebrities in the music industry and among them is Rihanna with whom she helped secure a major deal amounting to millions of shillings with Samsung.

Talos Energy Puts Their Expertise to Work in the Mexican Oil Industry

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Talos Energy has utilized their oil drilling expertise in a joint project that made history as Mexico allowed foreign investment in their oil industry for the first time since it was nationalized in 1938. This new offshore well was the first step Mexico took to help their ailing oil industry and this endeavor will be watched closely by industry observers. The significant potential of Mexican energy markets has never been in doubt and this groundbreaking first step will hopefully bring an excellent boost to the country.

This joint venture is being accomplished by Talos Energy from Houston, Tx., London-based Premier Oil Plc., and Mexico’s Sierra Oil & Gas. This history-making occasion is the first well to be drilled by a company other than the state-run Petroleos Mexicanos and Talos Energy has the right experience for the job.

The well is called Zama-1 and it is located in the Sureste Basin which is offshore from the Mexican state of Tabasco. The estimates for the well’s capacity vary from 100-500 million barrels of crude and it is a solid first step for the Mexican oil industry. These three companies won the rights to this project in 2015 when the Mexican government took this historic step to open up their energy market.

An industry analyst from Edison Investment Research Ltd., Elaine Reynolds, detailed the great interest that the project has generated in the worldwide industry. She also believes that according to the structure of the basin the project has great odds for success. Another analyst from Canaccord Genuity Ltd., Charlie Sharp, spoke of the well’s importance to the Mexican government and its people.

Talos Energy is an independent oil operator who specializes in offshore exploration and production. The areas in which they operate include the Gulf Coast and the Gulf of Mexico. They are skilled in maximizing production and optimizing procedures which lead to the most efficient endeavors. Their strategy for developing assets is based upon their sizable seismic database and proprietary reprocessing techniques. Their aim is to maintain control of virtually all of their production and apply their cutting-edge practices which help them increase their recovery output.

About Learn More : www.facebook.com/talos.energy/

Achievements Of Obsidian Energy Company

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Obsidian Energy Company; formerly Penn West Petroleum Ltd, has set an exemplary standard for other energy companies. Despite it being a private firm, it has dramatically improved the economic status and other life aspects of life in Canada. The exportation of renewable energy resources has increased the states’ revenue to a great extent. The highest consumption of energy resources has dramatically realized.

 

Obsidian Energy Company has the most significant number of employees. The open up of more energy sub-station by the company has enabled easy access to energy services. The living standards of the society have improved due to the accessibility of affordable, sustainable energy resources.

 

The company always seeks to ensure efficient energy supply as well as the safe and clean environment. The production of natural renewable energy has enabled the state to attain a green economy. It has reduced the carbon emissions and harmful element to the environment.

Obsidian has also managed to supply energy resources and services to nearly all cities in the United States. The company has kept on setting up more energy sub-station every year for their services to reach all parts of the nation. The Obsidian Energy Company creates awareness about their energy services, products, and their location through advertisement in Social Medias. Additionally, the company organizes empowerment programs where the societies get to learn more about the Obsidian Energy Company.

 

Obsidian Energy Company allows their customer to purchase their products such as energy devices and appliances on installments basis. The company in attaining its mission of reaching all part of the nation will enable customers to buy its products and services at agreed payments. The low-income customers can access the energy resources on installments.

 

The company has a research department where the executive team in the Obsidian Energy firm keeps on researching advancing technology. The company also allows other investors and researchers to carry out their researches within the research. The finding from the conducted research has benefitted the company through the advanced use of technology, innovations, and attainment of a green economy.  Read This Page to learn more.

 

In conclusion, Obsidian Energy Company has greatly contributed to the well-being of all life aspects of the Unites States. The company is one of the backbones of the current flourishing economic growth.

Gregory Aziz’s Connection To This Family May Surprise You

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The world is changing rapidly.

Today’s global economy requires faster and more efficient solutions for the problems of supply and demand. Getting raw materials and finished products from the source to the user remains an ever-present challenge for today’s logistics professionals.

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National Steel Car, one of the world’s leading freight car engineering and manufacturing companies, steadily leads the pack in transforming logistics problems into pioneering and innovating solutions. Gregory James Aziz, CEO, President, and Chairman of National Steel Car, stands at the helm. The proud members of National Steel Car look to the future with its new challenges to be overcome and opportunities to be seized.

 

Greg Aziz received his formal education in London, Ontario, where he studied Economics at the prestigious Western University. It is this solid academic background in the art and fundamentals of finance that Gregory J Aziz draws upon to shepherd his world-class team of dreamers and engineers towards the pioneering future.

 

As CEO, President, and Chairman of National Steel Car, Greg Aziz recognizes the substantive responsibility in caring for his team members, his company, and his clients. Ensuring that his proud production staff are well taken care of, that his team of researchers and engineers has the tools and resources they need to help National Steel stay on the cutting edge, safeguarding the interests and financial prosperity of his great company, and maintaining the overall happiness and continued success of National Steel’s diverse client base is a non-stop challenge for Greg James Aziz. This is a challenge that years of experience in the field, a dedication to craft and ownership of professional responsibility, and a wholehearted commitment to his clients make Greg especially suited for – a true cut above the rest in the field of freight transport engineering. View More Information Here.

 

1Greg James Aziz draws his personal inspirations from other leading trailblazers in the field of logistics and transport, rooted in the knowledge passed down from generations of experience and wisdom, while also looking towards the horizon of new discovery, innovating, dreaming, and creating the tools of the future to solve the logistics problems of the present. You can be sure that with every step the industry takes, with Greg Aziz at the helm, National Steel Car will be at the forefront, shining a beacon of light to illuminate the “road less travelled” – and the promise of an ever-brighter future for this generation and the next.

Impacts of Obsidian Energy Company to The Economy

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Introduction

Obsidian Energy, formerly Penn West Petroleum Ltd, is one of the leading companies in the production of oil and natural gas. The growth of Obsidian energy has dramatically impacted to the economy of the United States as well as to the Canada community. The sustainable energy production in Obsidian Energy Company has positively affected all aspects of life in the country.

 

Economic Growth

Then Obsidian Energy Company produces environmentally friendly natural gas and oil. These types of energy are sustainable, affordable and accessible. Therefore, reducing the general cost of living. When the cost of living is low the economy of a nation goes high enabling the country to venture into other investment projects that generate more revenue. The state also receives foreign exchange through exportation of the energy products from Obsidian Energy Company thus increasing the economic growth in return.

 

Poverty Eradication

Obsidian Energy Company has also contributed to poverty eradication in the nation. The availability of affordable energy resources gives all an equal opportunity to meet their basic needs. The energy resources help facilitates the provision of necessities in the house. For example, energy helps in cooking, lighting, communication among other things. Obsidian Energy Company has created job opportunities to a good percentage of the unemployed. The ability to access energy resources and creation of job opportunities has led to improved living standards and reduced crime rates.

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Industrialization

The production of long-term energy resources in the Obsidian Energy has led to the growth of more industries. Investors and entrepreneur can access energy resources to help in facilitating the manufacturing and processing activities in their firm. Obsidian Energy Company also supplies industries with modern devices to connect with the energy sources. The uses of modern technology, therefore, grow rapidly. Consequently, the industries import items from developing countries, process them using their advanced technology and export them back at a higher charging rate. The continuous consumption energy has also ensured the stability of Obsidian Energy Company as well as that of the industries.

 

In conclusion, Obsidian Energy Company is the backbone of the well-being of all life aspects in the United States, both economically and socially.

How Law Career Impacts Tony Petrello’s Contribution to Nabors Industries

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Tony Petrello has been successful in all the businesses that he has been part off all his life. The most visible of them all is Nabors Industries. He has been the chief executive officer of the drilling company since 2011. Nabors Industries offers oil and natural gas drilling services. Tony Petrello also had a successful career working for Baker & McKenzie law firm. In the four years that he served in the law firm, Tony Petrello attracted many clients due to his good understanding and interpretation of the law to the satisfaction of his clients. He was elevated to a position of the managing partner of the firm located in New York.

Tony had a brilliant understanding of corporate taxation, thorny issues for many companies in the United States. Tony was loved by his clients since he could break down what looked like complex cases by clients into as simple language that they could comprehend. As a lawyer, Tony Petrello never turned away a client. He took every case that was presented to him and tried his best to see that the case was successfully resolved.

Tony Petrello joined Nabors Industries after he was poached by the managers of the drilling company from his law firm. Nabors Industries were clients at Baker & McKenzie law firm. They were impressed by Petrello’s ability to break down issues. They saw him as a good asset for their company. His ability to grasp complex matters was one of its kind. He would use this ability to handle issues that he faced at Nabors.

The role that Tony Petrello was playing at the law firm as the corporate taxation litigation would help Nabors in its attempts to comply with taxation regulations. Taxation is a huge problem for companies in the United States and most of them usually plunge into the wrong side of the law. Tony Petrello is looking to apply his experience and team building capabilities to come up with a working strategy that would see the global drilling company make it new levels of growth. Tony believes in incorporating every member of the company to achieve the set-out goals.

Tony attributes the success seen at Nabors drilling during his tenure to his splendid leadership skills that motivate every employee of the company to give the best that’s possible. It is for this reason also that the company has been able to stay on top of its competitors and has been performing very well even at times of economic recess.

Detail about Nabors Industries Click here.

JHSF is a Highly Successful Real Estate Firm

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Are trying to start your own real estate business in Brazil? Need someone to provide you with quality advice or guidance? If you want to know what it takes to become successful in the real estate industry, then check out JHSF and its CEO, José Auriemo Neto.

Numerous people have made a fortune in their own real estate business and you can become successful if you consult the right firm or professional. Having access to top talent in your industry will improve your chances of becoming successful.

In Brazil, many people turn to JHSF and José Auriemo Neto for proper guidance. José Auriemo Neto has been the CEO of JHSF for many years and he knows what it takes to run a successful company. As an entrepreneur who has achieved outstanding results, José Auriemo Neto has the knowledge and experience to help any beginner understand what steps to take in order to reach their goal.

JHSF focuses on the development and management of high-end commercial and residential properties in Brazil. The firm is well known through the country and has a great reputation in the real estate community.

There are many steps to setting up a business, including real estate, and José Auriemo Neto has great expertise in this area. José Auriemo Neto has worked with some of the most knowledgeable professionals in the industry and he has also advised newbies. José Auriemo Neto knows what you need to attain the level of success you desire.

José Auriemo Neto will take the time to assess your situation, then devise the most effective strategy to help you create a successful real estate investing business.

He knows a lot about real estate development and is a reliable real estate expert who has a good understanding of renovating existing properties or creating new developments, marketing them, and selling them successfully.

Working as a real estate developer is not an easy endeavor but José Auriemo Neto has complete mastery of this very challenging field. Get in touch with José Auriemo Neto to learn more about how he can help you in your real estate journey.

Learn more: http://www.istoedinheiro.com.br/noticias/negocios/20160721/blackstone-negocia-compra-dos-shoppings-jhsf/395243