-- Premier Oil chief executive succession Simon Lockett, currently director of operations for Premier Oil PLC, London, will succeed Charles Jamieson, CEO, when he retires at the end of June 2005.
-- Study criticizes corporate governance in Russia Slow progress on corporate governance and the government crackdown on OAO Yukos have shaken investor confidence in Russia, concludes a study by a global association of financial institutions.
-- MARKET WATCH Energy prices decline as Nigerian conflict cools Energy futures prices declined Monday as political tensions eased in Nigeria, but analysts said they're not sure if the oil market may be poised for further retreat or gathering strength for a renewed climb to higher prices.
-- Shell evaluates 3D seismic data for offshore Pakistan Block 2365-1 Shell Pakistan Ltd. (SPL) affiliate Shell Development & Offshore Pakistan BV has completed a 3D seismic survey of Block 2365-1 in the deepwater Indus E basin, 150 km south of Karachi. Shell plans to allocate a further $25 million to drill an exploratory well if the survey indicates promise.
-- Voluntary approach on environment challenges industry While the oil and gas industry has made progress in voluntarily reducing greenhouse-gas emissions, it also must develop technology that accelerates environmental improvement while meeting growing energy demand, government and industry representatives suggested here Wednesday.
-- Canada's Paramount Resources Ltd. considers restructuring options Paramount Resources Ltd., Calgary independent, said its board authorized management to examine restructuring alternatives to increase shareholder value, including but not limited to keeping the status quo or reorganizing all or part of the company into an energy trust.
-- ConocoPhillips buying stake in Lukoil ConocoPhillips will buy 7.59% of OAO Lukoil for $1.99 billion and join the Russian company in a strategic alliance outlining how it might increase the interest to 20%.
-- Venezuela, Argentina form energy alliance; Petrobras balks Venezuela's state-owned Petroleos de Venezuela SA (PDVSA) and Argentina's new state energy company, Enarsa have agreed to form an energy alliance called Petrosur. Brazil's state-owned Petroleo Brasileiro SA (Petrobras), however, is reluctant to join.
-- Vintage Petroleum to sell Canadian oil and gas interests The boards of Tulsa, Okla.-based Vintage Petroleum Inc. and Midnight Oil & Gas Ltd. have approved a June 30 agreement whereby Vintage will sell all its interests in Canada to Midnight for $350 million (Can.), including working capital of about $27.5 million.
-- Statoil transfers ownership in power company Statoil ASA plans to transfer its shares in Naturkraft AS to current partners Statkraft SF and Norsk Hydro ASA, which will then have 50:50 ownership of the power company.