Drilling Production 2001 P

12/17/2001 -- Market watch: Norway will cut production by 150,000 b/d
Following a jump in energy futures prices Friday, the Norwegian government said Monday it would reduce its oil production by 150,000 b/d from Jan. 1 through June 30, the 6-month period advocated by the Organization of Petroleum Exporting Countries.
12/17/2001 -- Alberta oil sands projects accelerate despite soft prices, cost overruns
The pace of oil sands development in northern Alberta is quickening, despite soft oil prices and substantial cost overruns on projects under way. More than 63 projects costing more than $51 billion (Can.) have been announced in the past 5 years.
12/14/2001 -- Baker Hughes says North American drilling activity continues to fall
North American drilling activity again fell this week, with 1,196 rotary rigs working in Canada and in the US and its waters, said Baker Hughes Inc., Houston. The count is down 6 from last week.
12/14/2001 -- Oil prices jump on news OPEC may reexamine quotas Dec. 28
Oil prices jumped on the London and New York markets Friday on hopes that the Organization of Petroleum Exporting Countries' plan to set production quotas at Cairo on Dec. 28 will be a reality and not a mirage emerging from the Egyptian desert.
12/14/2001 -- Phillips to begin producing China's largest offshore oil field in August
Phillips China Inc. will begin producing China's largest offshore oil field, in Bohai Bay off the country's northeastern coast, in August at a rate of 40,000 b/d. Peng Lai 19-3 field eventually will produce 120,000-150,000 b/d.
12/14/2001 -- Punishment without crimes
A US Senate bill that aims to keep fuel out of the hands of terrorists could make criminals out of the victims, according to the Petroleum Marketers Association of America.
12/13/2001 -- Kuwait agrees to extend Arabian Oil's concession for Khafji field
Japan's Arabian Oil Co. has signed a memorandum of understanding with the Kuwaiti government that would allow it to keep exploring Khafji oil field beyond the January 2003 expiration date.
12/13/2001 -- NAM gives Stork GLT work renovation work at Slochteren field
NAM BV, the Netherlands, has awarded the Stork GLT consortium a 135 million euro, 3-year contract for renovation of three production sites in Slochteren gas field in Groningen, the Netherlands.
12/13/2001 -- BHP and partners to expand Keith development in the North Sea
BHP Petroleum Great Britain PLC and partners will proceed with a second phase of development at Keith field in the UK North Sea, said Marubeni Oil & Gas UK Ltd. Keith is on Block 9/8a in production license 209.
12/13/2001 -- Reserves being downgraded for Taranaki gas field off New Zealand
New Zealand's only major offshore gas field's reserves will be redefined in negotiations between the government and Maui Development Ltd., the operator.
12/12/2001 -- Time may be running out for a January oil production agreement
Members of the Organization of Petroleum Exporting Countries must reach some agreement with non-OPEC members on oil production cuts this week if logistics are to be arranged by January for a combined reduction of 2 million b/d, said Paul Horsnell, head of energy research for JP Morgan Chase & Co. in London.
12/12/2001 -- ATCO selling Viking-Kinsella gas properties in Alberta to Burlington
Burlington Resources Inc. will purchase ATCO Gas's stake in Viking-Kinsella gas field southeast of Edmonton for $550 million (Can.) effective Jan. 3.
12/12/2001 -- Suncor near end of commissioning for Project Millennium expansion
Suncor Inc., Calgary, said commissioning of its Project Millennium oil sands expansion in Alberta is nearly complete, and it expects plant capacity to reach the target of 225,000 b/d by yearend.
12/11/2001 -- Rally in oil prices ends; Brent drops to less than $18/bbl in London
The recent rally in world oil prices, which briefly took prices on the London International Petroleum Exchange to over $20/bbl, has ended with lower demand sending prices back downwards toward their 2-year low. Brent crude was traded in London Tuesday at $17.91, down 26¢ down overnight.
12/10/2001 -- ExxonMobil begins production at satellite field project off Malaysia
ExxonMobil Corp. has begun first production from a satellite fields development project, which it said is the first of its kind off Malaysia. About 90 million bbl will be produced from the $240 million, five-satellite platform project, which will develop six smaller fields.
12/10/2001 -- Finance/Companies news briefs, Dec. 10
ICO ... Rod Services of Canada ... TRC Rod Services of the Rockies ... Tyumen Oil ... Naftna Industria Serbia ... Gastar Exploration ... Dynegy Canada ... Tidal Energy Marketing ... Unocal ... PTT ... Amata
12/07/2001 -- Low energy prices push down US drilling activity
US drilling activity continued to plunge, with more rigs idled both on land and offshore, industry sources reported Friday. There were 928 rotary rigs working in the US and its waters this week, 24 fewer than the previous week and down substantially from 1,088 during the same period a year ago when energy commodity prices were higher.
12/07/2001 -- Gas prices poised to fall through $2/MMbtu floor-but recovery's around the corner
US natural gas prices are poised to fall below $2/MMbtu, but slumping production and increasing demand in the first quarter will mean a price recovery.
12/07/2001 -- An arranged marriage
The recent drama involving Kvaerner AS, at 148 one of Norway's oldest and proudest companies, and OAO Yukos, Russia's second largest oil company and an aggressive and acquisitive newcomer, unfolded like a play by the greatest Norwegian dramatist, Henrik Ibsen.
12/06/2001 -- US DOE awards gas hydrates research contract to Halliburton affiliate
The US Department of Energy awarded a gas hydrates research contract to exploration and production laboratory Westport Technology Center International, said Westport owner Halliburton Co.

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Drilling Production 2001 P