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Exploration Development 2000 P10

  • 09/26/2000 -- OECD: oil price could trigger economic slowdown
    Economic growth in the world's major industrialized nations could slow by some 0.4 percentage points next year if oil prices are not brought down from their $33/bbl-plus perch, according to the latest calculations by economists at the Organization for Economic Co-operation and Development (OECD) think tank published in a report yesterday at the International Monetary Fund (IMF) / World Bank meeting in Prague.
  • 09/26/2000 -- Finance/Companies news briefs, Sept. 26
    Geological Data Services � IHS Energy Group � Infinity � Consolidated Oil Well Services � Methanex � Saturn Methanol
  • 09/27/2000 -- OPEC heads of state to stress cooperation
    Venezuela will be in the spotlight when the Organization of Petroleum Exporting Countries� heads of state meet in Caracas today. The agenda does not officially include the issues of high oil prices or production policies, but they may be discussed behind closed doors. Officially, the OPEC leaders will work on a medium and long-term strategy to guide the organization and will seek ways to increase cooperation and trade among OPEC member countries.
  • 09/27/2000 -- Continental Energy buys interest in Indonesian project
    Continental Energy Corp., Vancouver, BC, announced plans Tuesday to buy a 70% stake in British Virgin Islands-based GAT Bangkudulis Petroleum Co. Ltd. (GATB) and its Bangkudulis oil field development project in East Kalimantan, Indonesia. The seller is Vancouver-based Dimensions West Energy Inc., which acquired its 70% shareholding of GATB in 1998.
  • 09/28/2000 -- Morocco to open bidding round Oct. 30
    Morocco will open its first petroleum exploration rights bidding round Oct. 30, said state agency Office National de Recherches et d'Exploitations Petrolieres. The round will cover the offshore sector between Rabat and Safi. It will close Apr. 30, 2001.
  • 09/28/2000 -- Market watch, Sept. 28
    Energy futures prices closed mixed in trading on the New York Mercantile Exchange Wednesday. Reactions to the American Petroleum Institute's weekly inventory report and the news of more oil to be released pulled the market in different directions.
  • 09/28/2000 -- Coastal Corp. affiliate files to expand Powder River pipeline
    Coastal Corp.'s pipeline affiliate Wyoming Interstate Co. Ltd. (WIC) has filed an application with the US Federal Energy Regulatory Commission to loop its southeastern Wyoming Medicine Bow Lateral pipeline. The application calls for initially increasing capacity out of the Powder River basin by 675 thousand dekatherms per day.
  • 09/29/2000 -- BG gas strike lifts Palestinian hopes
    BG International PLC and Consolidated Contractors Co. (CCC) said today they have made a groundbreaking gas discovery off Gaza, raising hopes that offshore oil and gas could become an economic engine for the impoverished state of Palestine.
  • 09/29/2000 -- Rig company: Drilling activity, day rates up
    The good news is that US drilling activity is up a record 41% from year-ago levels, but the best news is that day rates are up, too, and likely to continue rising with the available rig fleet at an all time low, reported officials of Reed-Hycalog, a unit of Schlumberger Ltd., in their annual rig census.
  • 09/29/2000 -- Reliance-Niko to invest $750 million in oil exploration
    Reliance Industries Ltd., one of the largest and most diversified business conglomerates in India, has decided to invest 34.62 billion rupees ($750 million) in its consortium with Niko Resources Ltd. for exploration of the dozen oil blocks it was recently awarded. The consortium was awarded nine shallow-water and three deepwater blocks.
  • 10/02/2000 -- Gulf Canada to acquire Crestar
    Gulf Canada Resources Ltd. has agreed to acquire Calgary-based Crestar Energy Inc. in a stock transaction valued at $2.3 billion, a move that propels it into the top five independent Canadian producers and the top ten producers group for North America as a whole.
  • 10/03/2000 -- Yukon premier says arctic gas pipeline projects not mutually exclusive
    Competing proposals like the Alaska Highway and Mackenzie Delta pipeline projects to move arctic gas to southern markets are not mutually exclusive, said Pat Duncan, premier and minister of economic development for Canada's Yukon Territory. Duncan, who spoke at the International Pipeline Conference in Calgary on Oct. 2, said the pipeline projects are complementary means to unlock natural gas reserves in Alaska and the Canadian north.
  • 10/03/2000 -- Caltex official: Oil prices hurt refiners, demand
    Oil prices are likely to remain volatile and their recent record levels have hurt refiners by constraining margins and demand, according to Caltex Corp. Chairman and Chief Executive Jock McKenzie. He was delivering the Singapore Oil Lecture 2000 at the 16th Asia-Pacific Petroleum Conference held in Singapore last week.
  • 10/04/2000 -- Bush, Gore highlight energy strategies
    Texas Gov. George W. Bush faulted Vice-President Al Gore and the Clinton administration for not developing a comprehensive energy policy during the past 8 years, while Gore accused major oil companies and the Organization of Petroleum Exporting Countries of manipulating oil prices. The two US presidential candidates discussed details of their energy policies during the first presidential debate Tuesday night in Boston.
  • 10/04/2000 -- Richardson defends energy policy, SPR decision
    US Energy Sec. Bill Richardson defended the Clinton administration's energy policy and decision to tap the Strategic Petroleum Reserve, and urged Congress to reauthorize the law governing its use.
  • 10/05/2000 -- Kazakhstan eyes better utilization of gas reserves
    Kazakhstan's Ministry for Energy, Industry, and Trade said Oct. 1 that it has signed a $600,000 contract with US-based consulting firm Gustavson Associates to find ways to utilize the country's plentiful natural gas resources.
  • 10/06/2000 -- SPR drawdown of little help to heating oil shortfall
    The politically driven SPR drawdown won?t help the heating oil problem in the US Northeast and it may even exacerbate it.
  • 10/06/2000 -- Fortum announces Barents Sea find
    Finland's Fortum Corp. said Thursday it has made an oil discovery in the Norwegian sector of the Barents Sea that could contain between 175 and 300 million bbl of reserves.
  • 10/09/2000 -- Cold Lake Pipeline System expansion planned
    Alberta Energy Co. Ltd., Calgary, said Monday it's entered an agreement to expand the Cold Lake Pipeline system in northeastern Alberta. It has also entered a partnership which has signed long-term transportation agreements with several large Canadian companies.
  • 10/11/2000 -- SSGC signs gas purchase agreements, memorandum of interest
    Sui Southern Gas Co. Ltd. signed a gas purchase agreement and a preliminary gas purchase agreement Monday. It also received a memorandum of interest for the supply of gas to the Guddu thermal power station located in Pakistan's Sindh province.
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