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Exploration Development 2000 P

  • 08/07/2000 -- Market watch, Aug. 7
    International oil prices surged to nearly $30/bbl Friday as traders�shocked by a sharp drop in US oil inventories last week in the face of presumed overproduction by the Organization of Petroleum Exporting Countries�bought up the market.
  • 08/07/2000 -- Pakistan seeks exploration project in Iraq
    Pakistan is seeking to gain a foothold in Iraq's huge oil exploration market, once United Nations sanctions against the country are lifted, and will shortly set up a long-term presence in the oil-rich country. Pakistan applied for a major oil exploration block in Iraq during a recent visit to Baghdad by Pakistan Petroleum Minister Usman Aminuddin.
  • 08/04/2000 -- Phillips announces Alaska alliance; completes ARCO acquisition
    Phillips Petroleum Co., Bartlesville, Okla., raised its stake in Alaska's North Slope this week with the formation of a two-part exploration alliance to explore and develop the area with Alberta Energy Co., Calgary, and Chevron USA Inc., a unit of Chevron Corp. Phillips unveiled plans for the alliance Thursday. On Tuesday, the company completed its $965 million acquisition of ARCO's businesses in Alaska.
  • 08/04/2000 -- Shell �road map� paves way to record quarter
    Mark Moody-Stuart, Chairman of Royal Dutch/Shell Group, yesterday unveiled best-ever second quarter profits of more than $3.2 billion for the Anglo-Dutch energy giant, crediting soaring oil prices and $500 million in cost reductions for the record figures. E&P led the charge with earnings of over $2.1 billion, a 159% step-up on financials for the second quarter of 1999.
  • 08/04/2000 -- UK offshore outlook remains gloomy
    As the UK offshore industry struggled to emerge from last year's economic slump, dubiously hopeful headlines began recurring in the trade press.
  • 08/03/2000 -- Satellite Sygna in Norwegian North Sea onstream
    Statoil AS�s marginal Sygna field has been brought to first flow through the first of two production wells tied back to the operator�s workhorse Statfjord C platform 21 km to the south. The second well is due to come on stream before yearend, boosting production to some 40,000 b/d of oil from the Norwegian North Sea field.
  • 08/03/2000 -- Committee: JNOC should take charge of Japan's pipeline network project
    A subcommittee of Japan's Ministry of International Trade and Industry has recommended that state-owned exploration company Japan National Oil Co. take charge of the project to build a natural gas pipeline network in Japan. The recommendation is significant in that it not only seeks to find a new role for JNOC, which has consumed huge amounts of public money in largely unsuccessful E&D projects, but also signals MITI is now actively supporting the notion of a national gas pipeline grid.`
  • 08/02/2000 -- Transportation news briefs, Aug. 2
    Petrozuata ... Koch Carbon ... Koch Terminales y Solidos del Caribe ... Conoco ... PDVSA ... Questar � Maritrans ... Alliance Pipeline
  • 08/02/2000 -- Nuggets subsea plans start to pan out
    TotalFinaElf has awarded the EPIC subsea facilities and pipelines contract for Phases 1 and 3 of its Nuggets gas development in the northern North Sea to a consortium of Coflexip Stena Offshore and ABB Offshore Systems. CSOL will handle design, procurement, and fabrication of the four pipelines for Nuggets, as well as perform all offshore installation and tie-ins of the pipelines, umbilicals, and manifolds. ABB is to provide horizontal trees, controls systems, umbilicals, and manifolds.
  • 08/01/2000 -- CanadianOxy acquires new exploration blocks in Colombia
    Colombia has awarded a 100% working interest and operatorship in two new exploration blocks to Calgary-based Canadian Occidental Petroleum Ltd. The Fusa and Villarrica blocks cover 520,000 acres immediately east and south of Canadian Occidental's Boqueron Block.
  • 08/01/2000 -- Richardson sees US gasoline price fall
    US Energy Sec. Bill Richardson said Monday that US gasoline prices have dropped for the sixth week in a row. According to the US Department of Energy, the nationwide average for regular gasoline dropped 21�/gal to $1.46/gal last week.
  • 07/28/2000 -- Santa Fe Snyder Brazilian well in production
    Santa Fe Snyder Corp., Houston, on Friday said production is flowing from the Carauna field in the Potiguar basin off Brazil. The company anticipates drilling at least two exploration wells on its BPOT-2 and BES-3 leases this year in addition to the current development of Carauna.
  • 07/27/2000 -- Congressman queries Clinton on ANWR intentions
    Wednesday asked President Bill Clinton to confirm or deny rumors that he intends to designate the Arctic National Wildlife Refuge coastal plain as a national monument. The coastal plain east of Prudhoe Bay field is believed to contain large oil reserves but cannot be leased unless authorized by Congress.
  • 07/26/2000 -- Lukoil, Yukos, Gazprom form Caspian E&P JV
    Representatives of Yukos, Lukoil, and Gazprom signed charter documents in Moscow Wednesday establishing a joint venture company, Caspian Oil Co., to explore for and develop oil and natural gas reserves in the Caspian Sea region.
  • 07/26/2000 -- Petrobras seeks US reserves through swap transactions
    Petroleo Brasileiro SA is in advanced negotiations with US companies that operate in the Gulf of Mexico to swap oil reserves in Brazil for equivalent gulf reserves, Carlos Alberto Pereira de Oliveira, the company's exploration and production superintendent, told OGJ Online. The swap operation began 2 months ago, when Petrobras sent invitation letters to 15 companies that own fields in the Gulf of Mexico.
  • 07/25/2000 -- Power producer Calpine grows in gas markets
    After becoming one of North America's largest independent power companies, San Jose-based Calpine Corp. is set to become one of the region's largest natural gas producers to supply its growing fleet of plants. Tuesday the company reported acquisition of 205 bcf equivalent (bcfe) of proved natural gas reserves in three transactions for a combined $206 million (US), boosting its proved reserves to 430 bcfe.
  • 07/25/2000 -- Petronas acquires farmout in Indonesian block
    Malaysian state oil company Petronas has agreed to acquire a 50% stake in the Pasemah Block from PT Medco Energi International Tbk. of Indonesia. The farmout agreement marks Petronas's first involvement in an Indonesian exploration and production project.
  • 07/24/2000 -- Electric Power news briefs, July 24
    Pennaco Energy Inc. ... Consolidated Edison Co. of New York Inc. ... Air Products & Chemicals Inc. ... El Paso Merchant Energy Co. ... Avista Power LLC ... Portland General Electric Co. ... Virginia State Corporation Commission ... PowerGen PLC ... LG&E Energy Corp. ... Powerspan Corp. ... FirstEnergy Corp. ... Beacon Group ... American Electric Power Co. Inc. ... Calvert Group ... Zero Stage Capital ... Ninotsminda Oil Co. ... AES Gardabani ... TXU
  • 07/24/2000 -- Petrobras starts international share-offer roadshows
    Petroleo Brasileiro SA kicked-off a road-show Thursday for Brazil's largest equity offering to date�the sale of about 153.3 million American Depository Receipts (ADRs) in Petrobras. Sources said that the 2�-week road show for the estimated $4.0 billion offering would start in New York before heading to Canada and Europe.
  • 07/24/2000 -- Apache to acquire Occidental's Gulf of Mexico interests
    Houston-based Apache Corp. continued its recent acquisition trend Thursday when it announced it's acquiring for $385 million cash the Gulf of Mexico interests of a subsidiary of Occidental Petroleum Corp., Los Angeles. Apache will acquire interests in 32 fields, half of them operated, on 93 blocks on the Gulf of Mexico's Outer Continental Shelf. Total proven reserves are 56.8 million boe.
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