Longer term plays such as heavy oil should be put into the mix for positive cash flow, as should joint ventures with serious NOCs to give BP much more market and political cover.
But other firms (the survey cites Lucent Technologies and Corning) tend to see headquarters as the embodiment of the company's core competences, adding value through superior research (as at Lucent) or by building alliances and joint ventures (as at Corning).
Foreign oil firms must operate as minority partners in joint ventures with it.
Ever more companies see joint ventures as an attractive alternative to mergers, even if they leave issues of control fuzzily unclear.
Meanwhile, it was also announced that Lee Gill had left his position as joint chief executive of Donington Ventures.
But U.S. companies are still barred from investing in these banks, or acting as partners with them in joint ventures.
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The company has operations in six countries on three continents, some of which are joint ventures, as well as exploration activities in ten countries.
Rather than make fresh acquisitions, says Mr Butters, foreign investors are more likely to form joint ventures, as Michelin has done with Tigar, a local tyre maker.
That trio, it is said, has its eye on Steven Heyer, a recent recruit from AOL Time Warner's Turner Broadcasting division brought over to run joint ventures, as the next chief operating officer.
As a result, General Motors joint ventures in China now occupy 11.7 percent of the passenger car market, while those of Ford have a 2.7 percent market share.
That has led to a scramble as more Western banks set up securities joint ventures.
To work across the technological bottlenecks, Chinese companies have formed joint ventures with players such as Royal Dutch Shell and Chesapeake Energy seeking to gain access to technology.
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Sun apparently agrees with Le Tocq's recommendations, as representatives from the company confirmed that joint marketing ventures will soon be announced.
Joint ventures are common in fields such as carmaking, logistics and agriculture.
Entry mode choices, such as the choice between wholly-owned affiliates and joint ventures, or between greenfield establishments and acquisitions, are yet another strategic decision with financial bearings.
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According to this agreement both countries will cooperate in the areas of energy exploitation and exploration and in joint ventures involving petrochemical and hydroelectric development as well as hydrocarbons, mining, agriculture, infrastructure, science and technology.
Previously, retailers such as Wal-Mart were permitted to establish only wholesale joint ventures.
U.S. developers Tishman Speyer Properties and Vornado Realty Trust have allocated millions of dollars to India, while U.S. investment outfits such as GE Commercial Finance and Apollo Real Estate Advisors have formed joint ventures with Indian developers that total into the billions of dollars.
U.S. developers Tishman Speyer Properties and Vornado Realty Trust (nyse: VNO - news - people ) have allocated millions of dollars to India, while U.S. investment outfits such as GE Commercial Finance and Apollo Real Estate Advisors have formed joint ventures with Indian developers that total into the billions of dollars.
Joint ventures also allow Branson to trade the Virgin name as if it were rare currency.
There, eight years ago, Berezovsky founded Logovaz, taking the giant automaker as partner and reinforcing the relationship with cross-shareholding and numerous joint ventures.
Other businesses, such as one making reconnaissance cameras for military aircraft, have been put into joint ventures.
Already the dominant player in China, look for AVIC to play a far more prominent in-your-face role, as the cash-rich company makes more acquisitions, locks down more joint ventures and makes further, more publicized inroads into the global aerospace market.
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Despite his early setback in the tyre business, Mr Sabanci has made a speciality of joint-ventures with foreign partners, striking 17 since 1985 in sectors as diverse as cars and cigarettes.
Ford and its joint ventures sold 35% more cars in China in September compared to the previous year as foreign automakers continue to gain at the expense of Japanese automakers.
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