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General Interest 2000 P15

  • 05/04/2000 -- Industry execs discuss Gulf of Mexico�s future viability
    The Gulf of Mexico will be a viable source of future oil and natural gas production�particularly gas. But searching for these much-needed resources will require deeper drilling, continued technological advances, and increased capital and human resources.
  • 05/05/2000 -- OTC WRAP-UP: Exhibitors, attendees evaluate OTC 2000
    Although down from its 1982 peak when it drew more than 100,000 visitors, OTC is still the oil and gas industry's biggest conference and exhibition. This year's show drew 2,035 exhibitors. Of the 207 companies exhibiting at OTC for the first time this year, 40% were electronic-commerce-related, officials said.
  • 05/05/2000 -- Shell, CNOOC sign exploration contract
    Shell Exploration China Ltd. (SECL) has signed a contract with China National Offshore Oil Corp. (CNOOC) to explore for oil in the South China Sea. The 1,895 sq km block lies about 80 km southeast of Hong Kong in the Pearl River Mouth basin next to the Xijiang oil fields.
  • 05/05/2000 -- Right to know
    One of the hallmarks of the US Environmental Protection Agency during the Clinton administration has been a drive to increase public information about actual and potential pollution sources.
  • 05/05/2000 -- Nevada gas-solar power plant starts up
    El Dorado Energy, a 480-Mw power plant jointly owned by Reliant Energy Inc., Houston, and Sempra Energy, San Diego, Calif., began commercial operation Thursday. Located near Boulder City, Nev., 45 miles southwest of Las Vegas, the plant will sell electricity to the wholesale markets of Nevada, California, and the southwestern US.
  • 05/07/2000 -- Gasoline prices may remain stable through summer
    A reduction in the cost of crude oil cut the average price of gasoline in the US to $1.5295/gal on Friday, analyst Trilby Lundberg said Sunday.
  • 05/09/2000 -- Knowles backs drive for more state regulatory power
    Interstate Oil & Gas Compact Commission (IOGCC) Chairman and Alaska Gov. Tony Knowles on Monday backed the drive of US Sen. Bob Smith of New Hampshire to give states more regulatory power when it comes to environmental policy. Knowles also commended US Sen. Max Baucus from Montana for raising awareness regarding federal oversight.
  • 05/10/2000 -- NYMEX to launch e-commerce venture
    The New York Mercantile Exchange is putting together a wholly-owned e-commerce venture, eNYMEX, that officials claim will become 'the premier global exchange' for over-the-counter (OTC) forward trading of a wide range of standardized physical commodity contracts, starting with petroleum and electricity.
  • 05/10/2000 -- MARKET WATCH�Energy futures
    Energy futures prices continued their upward March Tuesday, with oil for June delivery ending the trading day on the New York Mercantile Exchange at $28.65/bbl, a rise of 56�/bbl on the day. July-delivery NYMEX crude stood at $28.35, up 60�.
  • 05/10/2000 -- DuPont, Saudi firm to build VAM plant at Al Jubail
    DuPont Packaging & Industrial Polymers has signed a letter of intent to license DuPont technology for and participate in a joint venture to build a 275,000 tons/year vinyl acetate monomer (VAM) manufacturing plant in Al Jubail, Saudi Arabia. Partners in the joint venture include DuPont, Saudi International Petrochemical Co., and other unnamed firms.
  • 05/10/2000 -- AGL Resources to acquire Virginia Natural Gas
    AGL Resources Inc. (AGL), Atlanta, is acquiring Virginia Natural Gas (VNG), a wholly owned subsidiary of Richmond, Va.-based Dominion Resources Inc., for $500 million cash. AGL says the deal will boost its customer base to nearly 1.8 million, making it the second largest natural gas-only distributor in the US.
  • 05/11/2000 -- Growth in 'cyberterrorism' puts energy industry at risk
    As one of the biggest corporate users of computers to explore for, produce, process, transport, store, and market products that sustain global economies, the oil and gas industry is particularly at risk from malicious individuals, fanatic terrorists, and hostile nations.The oil and gas industry is particularly at risk from computer crimes by malicious individuals, fanatic terrorists, and hostile nations, says an energy industry consultant on computer security.
  • 05/11/2000 -- MARKET WATCH�Energy futures, IEA demand outlook, May 11
    Energy futures prices ended Wednesday's trading with mixed results on the New York Mercantile Exchange, as profit-taking, combined with a bearish inventory report by API, pushed down crude futures but other prices retained more strength. Crude oil for June delivery pulled back 55�/bbl, settling at $28.10/bbl, while the July contract stood at $28.05, down 35�. Meanwhile, IEA's latest forecast indicates continued oil market tightness.
  • 05/11/2000 -- AGA: US gas storage about 32% full
    US gas storage injections were about 32 bcf for the week ended Apr. 28, slightly better than predicted by Wall Street analysts. With gas prices continuing to exceed $3/MMbtu, the impact of increasing gas-fired power generation demand is adding tightness in the markets, says Dain Rauscher Wessels.
  • 05/11/2000 -- Edison Mission to buy Peabody's Citizens Power unit
    Edison Mission Energy, a global power producer and an Edison International Co. subsidiary, agreed on Thursday to acquire Boston-based Citizens Power from Peabody Group, St. Louis, for an undisclosed sum. Completion of the sale is set for this summer, pending regulatory approval.
  • 05/12/2000 -- US Congress begins late debate on pipeline safety bills
    Witnesses told a US Senate Commerce Committee hearing Thursday of the urgency to renew and expand US pipeline safety laws, but chances for legislation appear slim this session of Congress.
  • 05/12/2000 -- POGO's predicament
    A public advocacy group dedicated to unlocking government secrets is working hard to keep a few of its own.
  • 05/12/2000 -- Market Watch�May 12
    Growing demand and speculation that major oil producing countries will not soon increase production helped spark a surge in international futures markets, with crude futures climbing above $29/bbl on the New York Mercantile Exchange Thursday. The rebound was stimulated in part by a monthly report by the International Energy Agency (IEA) in Paris that indicated higher levels of production will be needed to satisfy growing demand for oil during the rest of this year.
  • 05/12/2000 -- Texas launches internet well permitting system
    The Texas Railroad Commission and the US Department of Energy on Thursday launched a digital well permitting system. Energy Sec. Bill Richardson said the electronic system 'can save the industry and its regulators millions of dollars and countless hours of labor.'
  • 05/12/2000 -- House OKs bill earmarking OCS revenues
    The US House of Representatives voted 315-102 Thursday to earmark $3.025 billion/year of the federal government's offshore oil and gas revenues for various conservation programs. The bill, called the Conservation and Reinvestment Act, now goes to the Senate for consideration.
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