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Exploration Development 2000 P5

  • 06/16/2000 -- Vanco signs offshore Namibia licensing agreement
    Houston-based Vanco Energy Co. on Thursday said it has signed a petroleum agreement with the government of Namibia through its subsidiary Vanco International Ltd. This is the first license awarded since Namibia converted to an open bidding system last year and Namibia's only offshore license, except for Kudu, in the southern part the country's offshore territory.
  • 06/18/2000 -- Shell lures Woodside with stake in Iranian project
    One of the main elements of Shell Australia Ltd.'s proposal to gain a controlling share of Woodside Petroleum Ltd. is to offer Woodside a 20% equity in the $800 million (US) Nowrooz-Soroush redevelopment project in Iran. The project involves rebuilding the war-torn production infrastructure of the oil fields, for which Shell is to be paid in crude oil from the fields' restored production. It is offering Woodside 20% of the agreed volume.
  • 06/18/2000 -- Louis Dreyfus completes purchase, reports offering
    Louis Dreyfus Natural Gas Corp., Oklahoma City, said it has completed the purchase of $133 million in oil and natural gas assets from Costilla Energy Inc., Midland, Tex. The firm and its largest shareholder also are undertaking 5 million share offering.
  • 06/21/2000 -- Lukoil's Caspian find may contain 60% gas
    Lukoil Pres. Vagit Alekperov on June 9 said that Severny, his company's offshore concession in the North Caspian Sea, appears to contain more natural gas than oil. Alekperov estimates the block's reserves are composed of about 60% gas and 40% oil.
  • 06/21/2000 -- Exploration/Development news briefs, June 21
    Oil & Natural Gas Corp. � Storm Energy ... CMS Oil & Gas
  • 06/21/2000 -- BP review: Energy consumption stagnates in 1999
    Global energy consumption stagnated for the second consecutive year, growing a mere 0.2% in 1999 in the aftermath of the Asian economic crisis and changing patterns of fuel use in China, BP Amoco PLC reported today in its annual statistical review of world energy. That's well below the average growth rate of 0.9% over the past 10 years. But world oil consumption grew 1.6% last year, slightly faster than the 1989-99 average. And global gas use shot up 2.4%, the highest growth rate since 1996.
  • 06/21/2000 -- Shell may redevelop Thai offshore field
    Royal Dutch/Shell Group may resuscitate exploration and production in its oil-bearing B6/27 concession in the Gulf of Thailand. The company has found more hydrocarbon reserves potential in the tract than 2 years ago, said executives of Thai Shell Exploration & Production Co., an affiliate of the Anglo-Dutch oil group. Also, higher oil prices have made the redevelopment of the field more commercially viable.
  • 06/22/2000 -- USGS ups estimates of potential reserves growth, undiscovered resources
    A new assessment by the US Geological Survey concludes that expected volumes of undiscovered resources outside the US are 649 billion bbl of oil, 4.67 tcf of gas, and 207 billion bbl of gas liquids, while projected additions to reserves from discovered fields are 612 billion bbl, 3.305 tcf of gas, and 42 billion bbl of gas liquids. Compared with assessments done in 1994 and 1997, world undiscovered volumes are 20% greater for oil, 14% smaller for gas, and 130% greater for gas liquids.
  • 06/23/2000 -- Morocco announces new E&P incentives
    The Moroccan government announced significant new exploration and production incentives at a news conference in Calgary earlier this month. Morocco plans an international bidding round in October on the Rabat-Safi offshore Atlantic sector.
  • 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.
  • 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.
  • 06/26/2000 -- 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.
  • 06/27/2000 -- Exploration/Development news briefs, June 27
    Petro-Canada � Kazakhoil � Nelson Gold Ltd. � ONGC Videsh Ltd � Reliance Industries Ltd. � Sonatrach
  • 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.
  • 06/29/2000 -- 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.
  • 06/30/2000 -- 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.
  • 06/30/2000 -- 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.
  • 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.
  • 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 -- 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.
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