Exploration Development 2000 P

07/10/2000 -- Clinton administration to create temporary 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. Clinton also urged Congress to reauthorize the Energy Policy and Conservation Act (EPCA), which authorizes operation of the Strategic Petroleum Reserve (SPR). In that bill, he said Congress should authorize a permanent Northeast heating oil reserve with appropriate criteria for its use.
07/10/2000 -- Pakistan signs preliminary gas price pact with Bhit JV
Pakistan and the consortium exploring Bhit gas field in Sindh province have signed a heads of agreement laying down the broad principles for the gas sales and price agreement for the field, according to a statement issued by the Petroleum Ministry.
07/10/2000 -- Nigeria assesses license round bids
Thirty-four groups have submitted 51 offers to operate 22 Nigerian blocks in the exploration round announced in March 2000. In an attempt to display transparency, the bids were opened publicly July 5. The permanent secretary of the Nigerian Ministry of Petroleum Resources, Aboki Zhawa, will head a committee to evaluate the bids.
07/05/2000 -- Exploration/Development news briefs, July 5
ONGC Videsh - Kerr-McGee - Fletcher Challenge - Gazprom - Wintershall - Colony Pacific Explorations - Imperial Metals
07/03/2000 -- Enron signs Brazilian power plant supplier
Enron Inc. affiliates signed both short-term and long-term contracts under which a subsidiary of Tulsa-based Vintage Petroleum Inc. will supply a total of 69.6 bcf of Bolivian natural gas to a power project in Brazil and future markets in the Southern Cone of South America.
07/03/2000 -- Enron, Vintage sign Bolivian gas deal
Enron Inc. affiliates signed both short-term and long-term contracts under which a subsidiary of Tulsa-based Vintage Petroleum Inc. will supply a total of 69.6 bcf of Bolivian natural gas to a power project in Brazil and future markets in the Southern Cone of South America.
07/03/2000 -- CNOOC may delay public offering to early 2001
CNOOC Co. Ltd., a unit of China National Offshore Oil Corp., appears likely to postpone its initial public offering in the global equity markets until early next year. Observers say the delay is to avoid clashing with IPO plans by China Petroleum & Chemical Corp., or Sinopec Corp., the IPO vehicle of China Petrochemical Corp.
07/03/2000 -- Apache, PetroChina to proceed with Zhao Dong field development
Apache Corp., Houston, and PetroChina Co. Ltd. reported they have agreed to proceed with development of portions of the 49,000-acre Zhao Dong block in Bohai Bay, China. The agreement resolves issues that have delayed the project. It also calls for PetroChina and the China National Petroleum Corp. to quickly obtain final government approval of the phased development plan.
07/03/2000 -- Japan's MITI releases energy policy review
In what might well prove to be a portent for major change, the Japanese Ministry of International Trade and Industry (MITI) has released the preliminary results of a review of the country's energy policy. The final report, expected to be completed by late July, will call for, among other things, the abolition of targets for the percentage of crude imports that must come from the overseas projects of Japanese firms.
06/30/2000 -- Arctic regions favored for Canadian gas exploration
The Yukon and Northwest Territories in Canada�s Arctic are now the top locations favored by companies hunting large natural gas discoveries in Canada, according to an annual review by Arthur Andersen LLP. The survey says these areas, including offshore plays, are now favored over the provinces of Alberta and British Columbia, which now rank third and fourth, respectively.
06/30/2000 -- Thailand to open licensing round
Thailand has resolved to take advantage of high oil and gas prices by launching a new licensing round for petroleum prospecting rights on 88 tracts covering 450,000 sq km. Earlier this week, the Thai cabinet endorsed the plan of Industry Ministry to call the round, timed at luring international hydrocarbon prospectors in the wake of rising world oil prices.
06/30/2000 -- CNOOC to build ammonia-urea plant
State-owned China National Offshore Oil Corp. (CNOOC) has announced plans to spend 3 billion yuan this year to build an ammonia-urea plant on China's Hainan Island.
06/29/2000 -- First Calgary to explore Berkine basin block
Canadian company First Calgary Petroleum Ltd. (FCP) has signed a production-sharing contract with Algerian state oil and gas firm Sonatrach to explore a block in the Berkine basin in southeastern Algeria. FCP has studied the geology of Algeria for 3 years and is negotiating for a second block in the basin.
06/28/2000 -- Market watch: June 28
Oil futures prices increased on world markets Tuesday as US Energy Sec. Bill Richardson voiced concerns about low heating oil stocks in the Northeast.
06/27/2000 -- Exploration/Development news briefs, June 27
Petro-Canada � Kazakhoil � Nelson Gold Ltd. � ONGC Videsh Ltd � Reliance Industries Ltd. � Sonatrach
06/27/2000 -- Conoco unveils GTL research, development strategy
Conoco Inc., Houston, recently unveiled the details of a 2-year-long research project through which it is trying to develop its own gas-to-liquids (GTL) technology. Company officials are optimistic that their new approach to tackling to the old F-T process will pay off handsomely by driving down costs 20-40% and raising production levels in an arena featuring few players.
06/26/2000 -- CNOOC ramps up gas development to fill planned pipeline
China has revealed a new element in its long-term natural gas supply plan. China National Offshore Oil Corp. intends to build a natural gas pipeline to move China�s offshore gas to markets in east China and will ramp up development work in order to justify the project.
06/26/2000 -- Market watch, June 26
Energy futures prices closed mixed in trading on the New York Mercantile Exchange Friday. Trading was less volatile compared with the rest of the week as traders finally started to absorb the real effects of OPEC's production increase. Recent reports blaming regulations and speculation for the price increase�not the lack of supply�also had a calming effect on traders.
06/25/2000 -- PDVSA Gas, Enron near pact on Venezuela LNG plant
PDVSA Gas, a unit of state oil corporation Petroleos de Venezuela SA, says it will soon sign an agreement with Houston-based Enron Corp. on a joint project to build a $600 million, 2.1 million tonne/year LNG plant at Jose in eastern Venezuela's Anzoategui state. The project was first announced in April (OGJ, Apr. 24, 2000, p. 21).
06/25/2000 -- EBRD calls for breakup of Gazprom's monopoly
The European Bank for Reconstruction & Development has called for the breakup of Gazprom so as to encourage competition in Russia's gas supply sector. Such appeals have been made routinely during the past few years and have just as routinely been rebuffed by Russia. Many observers believe, however, that, sooner or later, the company will be split up, as there are several objective reasons for doing so that have nothing to do with IMF or EBRD pressures.

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