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Gulf Publishing gets large cash infusion for WorldOil.com

Published on .

Houston--Investment firm SCF Partners and venture capital firm Battery Ventures announced Thursday that they have invested $20 million in Houston-based Gulf Publishing Co. With this 50-50 investment, Gulf Publishing plans to build a business-to-business electronic-commerce portal at WorldOil.com to serve the $178 billion oil and gas services and equipment industry. WorldOil.com hopes to develop capabilities that will allow users to conduct business online. Gulf Publishing's magazines include World Oil, Hydrocarbon Processing and Pipe Line & Gas Industry.
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