GE to Buy Dresser for $3 Billion

General Electric Co. agreed to buy oil-field equipment maker Dresser Inc. for $3 billion, expanding its biggest industrial unit, as Chief Executive Officer Jeffrey Immelt begins spending cash accumulated over the past two years. The purchase of closely held Dresser will add to earnings next year, GE said today.

Universal Bioenergy announced today that it is establishing a new subsidiary company that will directly produce and supply natural gas and petroleum to sell to its major utility customers, and growing customer base. On October 1, 2010, executives of Universal Bioenergy, and NDR Energy Group flew to Houston, Texas, and engaged in direct discussions with several gas/oil production companies, to negotiate agreements to obtain natural gas and petroleum fuels directly from the wellhead, to market to its customers.

Here is an upcoming event for those interested in oil and gas, it’s the Independent Petroleum Association of America’s Oil & Gas Investment Symposium aka IPAA OGIS that will be held on the 14th of October 2010 in San Francisco, California. Presenting on behalf of National Fuel will be Matthew D. Cabell, President of Seneca Resources Corporation, National Fuel’s wholly owned exploration and production subsidiary.

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