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Drilling Production 2000 P9

  • 08/21/2000 -- Renaissance shareholders approve Husky Oil takeover bid
    Shareholders of Calgary-based Renaissance Energy Ltd. today approved a $4.42 billion (Can.) takeover bid by Husky Oil Ltd., Calgary. The friendly takeover bid, announced June 19, will create the second largest Canadian integrated oil company.
  • 08/21/2000 -- Texaco awards three contracts for Venezuelan project
    Texaco Inc., White Plains, NY, and its partners in the Hamaca heavy oil project in Venezuela's Orinoco Belt announced plans Friday to award three major engineering, procurement, and construction contracts, valued at $1.074 billion, to consortia led by Fluor Daniel Corp. and Venezuela's Inelectra/Parsons.
  • 08/18/2000 -- Report: Smaller energy companies to enjoy revenue growth
    Smaller energy companies will enjoy an exponential growth of revenues and profits with strong fundamentals of supply and demand now dominating the global oil and gas market, officials of the Magnum Financial Group said Friday.
  • 08/18/2000 -- PDVSA reports $3.891 billion net profit
    State oil corporation Petroleos de Venezuela SA (PDVSA) announced Thursday that it posted a net profit of $3.891 billion for the first half of this year�up $3.333 billion over the same period in 1999.
  • 08/18/2000 -- Macro e-conomics
    There was a common thread running through the various presentations made at one of the first e-commerce conferences held specifically for the oil and gas industry last year in London: definition.
  • 08/17/2000 -- Shell awards EA testing and completion services contract
    Shell Petroleum Development Co. of Nigeria Ltd. has awarded a $120 million well testing and completion services contract related to development of EA oil field off Nigeria to Nigerian service company Ciscon. The field, located 90 km south of Warri in shallow water, is expected to cost $1 billion to develop.
  • 08/16/2000 -- Drilling/Production news briefs, Aug. 16
    CanBaikal Resources�Triton Energy�Bergesen DY Offshore�Energy Africa�Imperial Oil�Cairn Energy�Oil & Natural Gas Corp�.Videocon Petroleum�Ravva Oil (Singapore)
  • 08/16/2000 -- Basin Exploration hikes capital budget
    Basin Exploration Inc., Denver, is hiking its capital budget by 18% to expand its operations in the Gulf of Mexico, where it has recently deepened one well and participated in drilling five others.
  • 08/16/2000 -- API: Refinery runs hit record 15.9 million b/d in July
    The American Petroleum Institute said Wednesday that US refineries processed a record 15.898 million b/d in July. Refining activity was 2.9% higher than a year ago as refineries 'picked up the slack in supplying the nation with petroleum products' by operating at 96% capacity, API said.
  • 08/16/2000 -- Talisman awards Blake contract to UK yard
    Talisman Energy UK Ltd., the North Sea E&P arm of Talisman Energy Inc., has awarded Aker Maritime ASA's Aker McNulty yard in Newcastle an extensive contract for the development of the Canadian independent's Blake field and the linked tie-in to the Bluewater Group's Bleo Holm FPSO, currently producing nearby Ross field.
  • 08/14/2000 -- Finance/Companies news briefs, Aug. 14
    Friede Goldman Halter � Bollinger Shipyards ... Dow Chemical � Alpine Oil Services � Weatherford International ... BP ... IBM ... SAIC ... Ultramar Diamond Shamrock ... Shamrock Logistics
  • 08/14/2000 -- MMS issues study on Gulf of Mexico FPSOs
    The US Minerals Management Service has issued a draft environmental impact statement (EIS) on the possible effects of using floating production, storage, and offloading (FPSO) systems at deepwater fields in the US Gulf of Mexico. It concludes that the potential site-specific effects of using FPSOs are essentially the same as with other deepwater development systems.
  • 08/14/2000 -- Statoil puts shoulder to Svale satellite plans
    Statoil has put a newly formed project team to work in its northern Norwegian Harstad office sketching out plans to develop the midsize Svale discovery, proven this spring, as a satellite to its nearby Norne floating production vessel.
  • 08/14/2000 -- Market watch, Aug. 14
    International energy futures prices dipped Friday as major traders took their profits from last week's rally in a normal safeguard against any bad news over the weekend. But fundamentals remain strong and energy prices are on an upward trend.
  • 08/14/2000 -- BP unit tests Algerian well
    Essex Resource Corp., Vancouver, BC, said last week that operator ARCO Ghadames Inc., a unit of BP, has tested the Semhari East-1 appraisal well on the Hassi Bir Rekaiz concession in Algeria.
  • 08/11/2000 -- Oil prices continue to show surprising strength
    Oil prices continue to show surprising strength as skepticism builds over added Middle Eastern crude supplies and jitters arise over bogus reports of military tensions in that region.
  • 08/10/2000 -- Maureen refloat plans progress
    Norway's Aker Maritime AS has clinched a further �7 million contract connected to Phillips Petroleum UK Ltd.'s decommissioning plans for the Maureen platform in the North Sea. The new deal to tow the giant steel gravity base to the Aker Stord facility, clean its three storage tanks, and carry out a 'thorough inspection' of the platform, builds on a 500 million kroner contract awarded last year to the Norwegian company to engineer the structure's refloating.
  • 08/09/2000 -- EnerMark Income Fund to bid for EBOC Energy
    EnerMark Income Fund, Calgary, said it agreed to make a takeover bid through a subsidiary to acquire EBOC Energy Ltd., a private oil and gas producer also based in Calgary. The acquisition would cost EnerMark $155 million (Can.) in cash and assumption of debt.
  • 08/09/2000 -- IEA drops 2000 oil demand estimate; raises supply outlook
    The International Energy Agency has revised its forecasts of oil supply and demand for 2000, calling its new demand projection 'conservative' and its supply prediction 'optimistic.' Higher oil prices have boosted investments, especially in the areas of field maintenance, development drilling, and oil field equipment. But, warns IEA, 'It is unlikely this increase can be repeated or is sustainable over the medium term.'
  • 08/09/2000 -- Cool weather damps US summer power use
    Cooler summer temperatures for most of the US have minimized system-straining peak electric demand and possibly helped mask a need to expand the US electricity system, the US Energy Information Agency says in its August short-term energy report. Forecaster Dave Costello says projections of growth in demand for electricity have been revised slightly downward to 2.1% in 2000 and 2.45% in 2001.

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