Statoil To Buy Majority Interest Off Brazil; License Had Been Held By Petrobras; $2.5 Billion -- July 29, 2016

Link here. Statoil:

It has 30° API oil and associated gas “in a thick reservoir with excellent properties.”

From an earlier article:

Petrobras in 2012 encountered 400 meters of continuous oil pay at the Carcara discovery well.

**********************************

It's Just Business

From the guy who says his secretary is overtaxed.  

Reuters is reporting:

Duracell said it plans to close a battery-making plant in South Carolina that employs 430 people, making the announcement fewer than five months after being acquired by Warren Buffett's Berkshire Hathaway Inc.

The shutdown of the Lancaster, South Carolina, plant, which made AA batteries, will begin in March and should be completed by the middle of 2019.

Duracell is consolidating its North American production of AA and AAA batteries into a plant in LaGrange, Georgia.

"This was a very difficult decision," Robert Lorch, Duracell's president of global operations, said in a statement. "We're taking this important step to position the Duracell business for growth."

Duracell said the move will lead to "some" job growth in LaGrange, which is about 330 miles southwest of Lancaster, and that Lancaster workers will be encouraged to apply for work there.

Sure. Pretty sad.