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Drilling Production 2000 P7

  • 09/24/2000 -- Venezuela reiterates offer of heating oil help
    Venezuela will do everything possible to maximize its production of heating oil for the US market to help avoid shortages in the Northeast this winter, said state oil firm Petroleos de Venezuela SA (PDVSA). The US said it had adequate product storage facilities, said PDVSA, so it will not take advantage of the Venezuelan company's recent offer of the use of a terminal in the Bahamas for heating oil storage.
  • 09/20/2000 -- Kuwait to invite observers to monitor drilling
    Kuwait took the unusual step Tuesday of issuing a press release to announce its intention to invite neutral observers to witness its drilling operations along its border with Iraq. Recently Iraq complained Kuwait has used horizontal wells to drain reserves on its side of the border, which Kuwait denied. Kuwait said it wants to prove the falsity of the accusations.
  • 09/20/2000 -- Drilling/Production news briefs, Sept. 20
    Statoil � Transocean Sedco Forex � Spirit Energy 76 � Fletcher Challenge Energy � Shell Petroleum Mining � Todd Petroleum Mining
  • 09/20/2000 -- Dain Rauscher Wessels analysts predict natural gas crisis
    A natural gas crisis is brewing, with too little new North American supplies coming on stream to significantly affect rapidly growing demand, Dain Rauscher Wessels Inc. analysts said Tuesday at the start of their 3-day annual energy conference in Houston. Supply and demand dynamics are shaping up for trouble, especially for a peak demand period in early spring.
  • 09/19/2000 -- Synergy cites efficiency of heavy oil upgrading process
    Synergy Technologies Corp., Calgary, has claimed �excellent� results for a proprietary heavy oil upgrading process, dubbed CPJ, which it said converted 13� gravity oil to 30� plus oil while achieving liquid volume yields of more than 90%.
  • 09/19/2000 -- Global Marine SCORE makes biggest jump in 8 years
    Houston-based Global Marine Inc. said its Summary of Current Offshore Rig Economics (SCORE) rose 6.6% in August over the previous month�the largest increase in almost 8 years. The August tally represents a 44.4% increase from August 1999 and a 23.9% decrease from 5 years ago.
  • 09/18/2000 -- Hurza, Hanover order 350 Capstone units
    Signaling growing strength in the distributed generation market, Harza Engineering Co. Inc., Chicago, and the Hanover Co. have placed orders for 350 MicroTurbines with Capstone Turbine Corp., Chatsworth, Calif., Capstone reported Monday. Under a 3-year agreement, Harza will order 250 of Capstone units and Hanover will order 100 under a 1-year agreement.
  • 09/18/2000 -- Fitch IBCA remains cautious on oil field service sector outlook
    The improvement in energy industry commodity prices and industry fundamentals have strengthened the performance of the oil field services sector the past 6 months. But Chicago-based ratings service Fitch IBCA, Duff, & Phelps said it's taking a wait-and-see approach to making possible changes to ratings of the 50 oil service companies it follows.
  • 09/15/2000 -- Ruling gives kiss of life to Belfast yard
    Beleaguered Belfast shipyard Harland and Wolff PLC will begin a life-saving corporate restructuring following an arbitration panel's ruling yesterday that the company is owed more than $31 million by US drilling contractor Global Marine Inc.
  • 09/15/2000 -- Pemex launches deepwater drilling program
    During the next 7-10 years, Pemex plans to drill five deepwater wildcats in the Gulf of Mexico in 600-1,400 m of water, a company official indicated Thursday at a Houston conference. Reporters were banned from the presentation by Rafael Navarro III, a petroleum engineer for Pemex E&P, at the 5th Annual Deepwater Technologies & Developments Conference presented by Strategic Research Institute. But copies of his slide presentation were in the book of proceedings provided to attendees.
  • 09/14/2000 -- Kerr-McGee announces Leadon development plan
    Kerr-McGee Corp., Oklahoma City, Okla., said it has approved a development plan that involves a floating production, storage, and offloading facility for the Leadon field, and satellite fields Birse and Glassel, in the UK North Sea. The plan is subject to environmental review and approval by the UK Department of Trade and Industry.
  • 09/11/2000 -- France's fuel price protest spreads to other EU nations
    The blockades of refineries and fuel depots by truckers, farmers, and fishermen that began in France has spread to the UK, Germany, Belgium, and the Netherlands and is likely to extend to other countries in the next few days. A decision by OPEC to boost collective oil production by 800,000 b/d apparently has done little to appease the ire of these groups�and others whose profitability depends heavily on fuel prices, such as taxi drivers and tour operators�over high fuel prices in the EU.
  • 09/08/2000 -- International rig count rises in August
    The anticipated rebound in the international rig count (the world excluding the US and Canada) materialized last month as the total reached 705, up 6% from the 662 counted in July 2000, and a rise of 27% vs. the 556 counted a year ago. Houston-based Baker Hughes Inc. released that data this week.
  • 09/08/2000 -- Statoil delays start up of gas pipeline
    The start-up of Statoil AS's new Norne-Heidrun gas pipeline system in the Norwegian Sea has been postponed to Nov. 15 from Oct. 1. The delay, caused by the late arrival of Saipem's Maxita crane ship from Royal Dutch/Shell's nearby Draugen field, will not increase investment but means that the licensees of the two fields must seek replacement gas.
  • 09/08/2000 -- Electric Power news briefs, September 8
    Entergy Corp. ... TLG Services Inc. ... Alliance Pipeline LP ... Xcelecom, Inc. ... Sierra Pacific Resources ... UIL Holdings Corp. ... Johnson Electric Co. Inc. ... TenderLand Power Co. ... NRG Energy Inc. ... San Diego Gas & Electric Co. ... California Public Utilities Commission
  • 09/08/2000 -- Market Watch, Sept. 8
    Energy futures prices climbed further in trading on the New York Mercantile Exchange Thursday, as markets failed to respond to expectations that an oil production increase will arise from this weekend's meeting of oil ministers from Organization of Petroleum Exporting Countries members. NYMEX crude for October delivery gained 49� on the day to end the day at $35.39/bbl, while the November contract stood at $34.54, up 56�.
  • 09/08/2000 -- OPEC'S MUDDLESOME METHODS COSTLY TO EVERYONE
    The Organization of Petroleum Exporting Countries will define itself this weekend - again. Its decision about mission will be even more important in the long run than what it decides to do about oil production.
  • 09/07/2000 -- Drilling/Production news briefs, Sept. 7
    Keppel Fels � Transocean Sedco Forex � Caspian Shipyard Co. � SOCAR ... Lukoil � Petroleum Geo-Services ... UTI Energy ... UHC New Mexico
  • 09/07/2000 -- Shell, Esso award pipe contracts to CSO
    Coflexip Stena Offshore said Tuesday that its Norwegian entity Coflexip Stena Offshore Norge AS has been awarded engineering, procurement, construction, and installation (EPCI) contracts, worth more than 60 million euros combined, by AS Norske Shell and Esso Exploration & Production Norway AS.
  • 09/07/2000 -- Washington, DC, firm says FPS market strong
    Over the next 5 years, 13-17 floating production systems will be ordered every year, says International Maritime Associates Inc., Washington, DC. In its latest forecast of the outlook for floating production, storage, and offloading vessels; production semisubmersibles; tension-leg platforms; and spars, IMA said the fundamentals for the FPS sector look very strong. It believes companies will spend $16-21.9 billion on FPS orders over the next 5 years.

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