-- China allows Sinopec to invite foreign bids for onshore oil and gas E&P China amended its oil and gas legislation to allow China Petroleum & Chemical Corp. (Sinopec) to invite foreign exploration and production companies to bid for onshore oil and gas blocks, officials said Thursday. Previously only China National Petroleum Corp. had that right.
-- China confirms plans for gas pipeline and LNG project Chinese National Offshore Oil Corp. has signed an agreement with Shandong Province authorities to build a gas pipeline network and a LNG production facility. Technical and financial details were not released. However, the investment will be substantial.
-- Burlington Resources plans $2.1 billion purchase of Canadian Hunter Burlington Resources Inc. Tuesday offered to buy the stock of Canadian Hunter Exploration Ltd. for $2.1 billion (US). Burlington said the acquisition, for $53 (Can.)/share, will nearly double its investment in Canada and add a portfolio of attractive producing properties
-- Change response In coming weeks, events will inevitably occur that will have an impact on the oil and gas industry, and once again it will be called on to respond, to change, and to adapt.
-- Phillips to participate in $425 million Nigerian power plant Phillips Petroleum Co. said its Nigerian subsidiary Phillips Oil Co. (Nigeria) Ltd., will invest $85 million for a 20% share of a $425 million 450 Mw independent power project to be built near Kwale, Nigeria, in Oil Mining Lease 60. Nearly 60% of Nigerians don't have access to electricity.
-- China and Taiwan to sign joint exploration agreement China National Offshore Oil Corp. (CNOOC) and Taiwan's Chinese Petroleum Corp. (CPC) will sign a letter of intent next week to jointly explore for oil and gas in the Taiwan Strait, the two companies said today.
-- Perez Companc to explore Peruvian Block 99 Perez Companc del Peru, Argentina, signed an exploration and production license with Perupetro, the state oil agency, for Block 99 in Peru's Ucayali basin.
-- SPE meet told smart well completions slowly finding industry acceptance Intelligent well completions are slowly finding acceptance in the industry, the Society of Petroleum Engineers technical conference was told. The systems allow operators to access real-time reservoir data and then remotely reconfigure the wellbore production-injection architecture.
-- Rep. Barton exploring options for filling US strategic oil reserve US Rep. Joe Barton (R-Tex.) plans to introduce a bill as early as Thursday to fill the Strategic Petroleum Reserve to its 700-million-bbl capacity. Barton, chairman of a House energy subcommittee, held a Houston press conference Monday after touring the Big Hill SPR site near Beaumont, Tex.
-- War threat reduces exploration, development activity in Pakistan Possible US military actions in Afghanistan following the Sept. 11 terrorist attacks have depressed exploration and production activity in neighboring Pakistan, said Jamal Hassan, secretary of the Pakistan Petroleum Exploration & Production Companies Association.