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General Interest 2001 P13

  • 03/07/2001 -- PetroChina to select investors for gas pipeline construction in June
    PetroChina Co. Ltd. will select seven international partners to help it build a natural gas pipeline from Xinjiang to Shanghai. PetroChina reported 19 companies indicated an interest in investing in the line. They are expected to submit proposals in late April and PetroChina will select the final in June.
  • 03/28/2001 -- Marathon to decide by midyear on sale of oil assets
    USX-Marathon Group will decide by midyear whether it will spin off or sell its Marathon Oil Co. unit, said Marathon Pres. Clarence Cazalot. The company said last December it might consider a sale pending a recommendation from financial advisors.
  • 03/28/2001 -- Analysts predict another round of oil mergers and acquisitions
    The oil industry is on the verge of another dizzying round of mergers and acquisitions, Wall Street analysts and investment fund managers predicted at the annual Howard Weil energy investment conference. Attendance at the meeting by institutional investors and fund managers was up dramatically from past years.
  • 03/26/2001 -- General Interest news briefs, Mar. 26
    US Supreme Court � Royal Dutch Petroleum � Shell Transport & Trading � ExxonMobil � Nigeria
  • 03/23/2001 -- Wintershall 'on course' for E&P growth as profits climb
    Herbert Detharding, chief executive of Wintershall AG, Thursday reported the German oil and gas company was "on course" to meet ambitious 5-year growth targets, bolstered by income from operations in 2000 that more doubled from 625 million euros to 1.33 billion euros.
  • 03/22/2001 -- ANWR drilling advocates seek to broaden support to non-oil groups
    The US House Committee on Budget Wednesday declined to include revenues from a possible Arctic National Wildlife Refuge lease sale in the federal Fiscal 2002 budget bill. Meanwhile, pro-drilling forces formed a broader-based alliance to advocate exploration in the northeastern Alaska coastal plain.
  • 03/19/2001 -- Indonesia sends troops to protect Arun gas fields
    Indonesia has stationed 2,000 troops around Arun to protect the gas fields and the Arun liquefied natural gas plant because recent violence is threatening to disrupt gas exports vital to Indonesia's struggling economy. ExxonMobil Indonesia, a subsidiary of ExxonMobil Corp., Irving, Tex., suspended operations in the area last week and evacuated its staff.
  • 03/15/2001 -- Market watch: Energy futures plunge in international markets
    Energy futures prices plunged in international markets Wednesday as traders focused on decreased demand from a cooling US economy instead of a pending production cut by the Organization of Petroleum Exporting Countries at its meeting Friday in Vienna.
  • 03/13/2001 -- Qatar Petroleum and Sasol start engineering on GTL project
    The Qatar Petroleum Co. (QP) and Sasol Synfuels International Co. Tuesday agreed on a $30 million joint venture for front-end engineering and design for a gas-to-liquids (GTL) project. The GTL project, costing $800-million, would start in 2005 and will convert natural gas into 34,000 b/d of liquid fuels.
  • 03/08/2001 -- Study says floating liquefaction plants are viable
    A new cross industry study led by France's Bouygues Offshore SA has made the case for the future viability of a fully floating liquefied natural gas chain. Bouygues said the 18 month Azure R&D project, underwritten by the European Union's Thermie program, investigated designing floating liquefaction plants, floating LNG terminals, and offshore LNG transfer systems.
  • 03/01/2001 -- Bids far exceed capacity on El Paso's California pipeline
    A unit of El Paso Corp. Wednesday said it received bids totaling 14.4 bcf/day for 1.22 bcf/day of available capacity on its pipeline system serving California. The company said it plans to announce another open season to determine if there is enough support to expand the pipeline. The Houston energy company recently denied allegations a subsidiary withheld capacity driving up gas prices or that a 'conspiracy' existed in 1996 to limit construction of a new interstate pipeline into California.
  • 03/29/2001 -- DONG unit attributes sevenfold 2000 profit to high prices
    After having expensed a joint taxation contribution to parent company Dansk Olie og Naturgas AS, DONG Efterforskning and Produktion AS (DONG) showed a profit of 603 million Danish kroner ($72.4 million) in 2000 compared to a profit of 84 million Danish kroner in 1999.
  • 03/20/2001 -- Finance/Companies news briefs, Mar. 20
    Williams ... BG Group ... Anadarko Petroleum ... Ramoil Management ... Enron ... Alliance Pipeline Ltd. Partnership ... Saudi Aramco ... Roper Industries
  • 03/12/2001 -- Premier Oil climbs back into profitability
    Premier Oil PLC CEO Charles Jamieson said Monday his company had pulled itself into the black after 3 years of losses, recording net profits of �6.1 million, compared with a 1999 deficit of �27.7million. The UK independent�s operating profit swung from a loss of �6.3 in 1999 to a gain of �35.2 million last year, while its turnover leaped from �26.2 million to �115.7 million.
  • 03/08/2001 -- Cross Timbers Oil reports record proved reserves
    Cross Timbers Oil Co., Fort Worth, Tex., reported Thursday an 11% increase in its proved oil and gas reserves to a record 2.25 tcf of natural gas equivalent at the end of 2000. Company officials said they expect to increase those reserves to 3 tcfe by the end of 2002.
  • 03/02/2001 -- EC gives green light to Chevron-Texaco merger
    The European Commission Thursday approved Chevron Corp.'s $36 billion takeover of Texaco Inc., removing a key hurdle in the majors' plans to create the fourth largest oil and gas company. The EC said it would "declare (the merger) compatible with the common market and with the European Economic Area Agreement" on the grounds that the number of areas in which the companies' activities overlapped in Europe was "limited."
  • 03/01/2001 -- Plains All American buys Murphy's Canadian oil transportation assets
    Plains All American Pipeline LP, Houston, has agreed to buy the crude oil pipeline, gathering, storage, and terminal assets of Murphy Oil Co. Ltd., a unit of Murphy Oil Corp., El Dorado, Ark., for $155 million plus an as-yet-undetermined payment for excess inventory in the system.
  • 03/27/2001 -- Murphy Oil: Front Runner well finds 850 ft of pay
    Murphy Oil Corp., El Dorado, Ark., said an exploration well on its Front Runner prospect in the Gulf of Mexico has found more than 850 true vertical ft of pay.
  • 03/26/2001 -- Exploration/Development news briefs, Mar. 26
    USCapital Energy Belize � BP � ABB Vetco Gray � Santos � Swift Energy New Zealand � Antrim Oil & Gas � Marabella Enterprises � Remington Oil & Gas � Magnum Hunter Resources
  • 03/21/2001 -- Stone Energy makes new gulf find
    Chieftain International Inc., Edmonton, Alta., said it has participated in a discovery in the Gulf of Mexico. South Pass 38 No. 1 well was drilled to 13,500 ft TD and cased for production. It found more than 340 net ft of hydrocarbon-bearing reservoir rock in multiple productive intervals.
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