Exploration Development 2000 P

07/21/2000 -- MMS issues terms for Western Gulf Sale
The US Minerals Management Service Thursday issued the final notice of sale for Western Gulf of Mexico Sale 177, planned for Aug. 23 in New Orleans. The sale will offer 3,789 blocks totaling about 20.61 million acres off Texas and Louisiana. The tracts are 9-200 miles offshore in of 8 m to more than 3,000 m of water.
07/21/2000 -- Richardson names distillate task force
US Energy Sec. Bill Richardson said Thursday he is 'very concerned about stocks' of distillates needed to heat homes in the Northeast next winter. Richardson met Wednesday with heating oil distributors and congressional staff about the Clinton administration's plan to create an interim 2 million bbl distillate stockpile in the Northeast by October.
07/20/2000 -- US producers object to roadless lands withdrawals
Independent US oil producers warned Monday that the Clinton administration�s plan to protect most of the remaining roadless areas within the National Forest System would have serious energy ramifications. Producers said the plan would remove more than 50 million acres of federal lands from the possibility of oil and gas development.
07/20/2000 -- Perupetro seeks flexibility to boost exploration
Peruvian oil regulator Perupetro SA, formed in 1993 to promote, negotiate, sign, and supervise oil and gas contracts, is asking the government to give it greater flexibility in dealing with contractors. The proposal to make standard model contracts more flexible is backed by Energy and Mines Minister Jorge Chamot.
07/20/2000 -- US seeks bids for heating oil reserve
The US Defense Energy Support Center, acting as the contracting agent for the US Department of Energy, on Wednesday issued a solicitation to establish an interim Northeast Heating Oil Reserve as an arm of the nation's Strategic Petroleum Reserve (SPR). Also on Wednesday, DOE officials met with home heating oil distributors to explain how the reserve would affect their operations.
07/20/2000 -- Market watch, July 20
World oil prices fell again Wednesday as traders took profits from Tuesday's rebound in the face of numerous reports that Saudi Arabia is still determined to increase its crude production soon.
07/19/2000 -- Petrobras fine doubled as oil spill spreads
Brazil's Environment Ministry has doubled Petrobras's fine for its part in the spillage of 4 million l. of oil in to a river in southern Brazil, according to the country's Environment Minister, Jos�arney Filho. The oil company now faces a penalty of $55.4 million rather than $27.7 million�a figure which may climb to $81.1 million once the environmental protection agency and the ministry's legal department complete reports on the spill.
07/19/2000 -- Duke Energy Field Services expands natural gas plant
Duke Energy Field Services LLC, Denver, said Monday it will more than double capacity at its Roggen natural gas processing plant northeast of Denver from 25 MMcfd to 55 MMcfd.
07/19/2000 -- Richardson says better world oil data needed
US Energy Sec. Bill Richardson has told representatives of oil producing and consuming nations that 'it is time to get our facts straight' on world supply-demand data. Richardson spoke July 15 at the closing of the World Oil Market Data Conference in Madrid. The US and Spain co-hosted the meeting.
07/19/2000 -- Norwest farms into exploration permit
Perth-based exploration company Norwest Energy NL has acquired a farmout on Exploration Permit 364 in Australia's Carnarvon basin, inshore from the Chervil and Saladin oil fields. Meanwhile, Melbourne-based firm Cue Energy NL has sold its 17.65% interest in Carnarvon basin permit EP-363 to Apache Energy Ltd.
07/19/2000 -- US Senate approves heating oil reserve
The US Senate voted Tuesday to create a 2 million bbl home heating oil reserve in the country's northeastern region. The House has authorized creation of a permanent reserve, without appropriating funds. A House-Senate conference committee now will merge the two versions.
07/18/2000 -- Market watch, July 18
World petroleum prices continued to fall Monday in the wake of proposals by the Organization of Petroleum Exporting Countries and Mexico to increase oil production by 550,000 b/d sometime this month.
07/17/2000 -- Processing news briefs, July 17
Albian Sands Energy ... Kobe Steel ... Japan Steel Works ... Shell Canada ... Chevron Canada ... Western Oil Sands ... Taiwan Fertilizer Co. ... Duke Energy Field Services
07/17/2000 -- Market watch, July 17
Oil prices appear on the edge of a plunge�perhaps as low as $20/bbl�after members of the Organization of Petroleum Exporting Countries were alerted Monday to prepare for another production increase of 500,000 b/d this month.
07/17/2000 -- Texaco Bohai Bay well encounters oil
Texaco Inc. has made an oil discovery off northeastern China in Bohai Bay Contract Area 11/19, 90 miles south of Tanggu near the Port of Tianjin. The company said the Bozhong 25-1-8 discovery well was drilled in 57 ft of water to 7,134 ft TD and encountered 115 ft of net pay between 5,500 and 5,700 ft.
07/17/2000 -- Pakistan reinforces importance of oil, gas development
In Pakistan this year, at least 11 exploratory wells will be drilled and 2,500 km of seismic will be acquired�a 'revolutionary' pace of activity in the oil and gas sector, according to commentary at a July 11 high-level meeting chaired by Minister of Petroleum and Natural Resources Usman Aminuddin.
07/13/2000 -- Finance/Companies news briefs, July 13
IP Petroleum � Chocolate Bayou Water � Deutsche Bank � National Petrochemical Co. � Aka Ausfuhrkredit � Bayerische � Hypo-Vereinsbank � Berliner Handels Frankfurter Bank � Commerzbank � DG Bank � Westlbank � Kreditanstalt Fuer Wiederaufbau � Banca Commerciale Italiana � Societe Generale � EMB � Morris Greenhaw ... Costilla Energy ... Eagle Geophysical
07/12/2000 -- Analyst: High oil prices reverse gas, oil price decoupling
High crude prices have reversed the 'decoupling' of oil and natural gas markets that almost everyone in the energy industry has taken for granted in recent years, say analysts at ICF Consulting Group.
07/12/2000 -- Indonesia aims to secure China LNG contract
Having lost a big Indian contract in a highly competitive LNG market, Indonesia is aiming to secure the next big LNG contract in the Far East with China, which is expected to call a tender for 3 million tonnes/year of LNG next month.
07/12/2000 -- update: US DOE reveals details of proposed heating oil reserve
US President Bill Clinton Monday ordered the Department of Energy to establish a temporary 2 million bbl northeastern US home heating oil reserve by October. DOE has now revealed further details of the planned reserve.

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