General Interest 2004 P

08/13/2004 -- El Paso sells Indonesian, domestic assets, buys Brazilian production interest
El Paso Corp.'s long-range plan is to reduce the company's debt, net of cash, to $15 billion by yearend 2005. Targeting asset sales of $3.3- 3.9 billion by that date, the company to date has announced or closed $3.5 billion in asset sales. Among latest sales are shares in Coastal Indonesia Sampang Ltd. and sales of 10 electric power plants in California. El Paso also purchased Unocal's 50% interest in a Brazilian E&P firm.
08/13/2004 -- Canadians expect tight natural gas supply-demand balance for years
Canada is likely to experience a tight balance between natural gas supply and demand in the new few years, the National Energy Board said in a recent report entitled, "Looking Ahead to 2010—Natural Gas Markets in Transition."
08/13/2004 -- MARKET WATCH
Violence in Iraq pushes crude futures prices to new records
Crude futures prices soared to new highs Thursday as US troops assaulted militia loyal to Shiite cleric Muqtada al-Sadr after a week-long uprising in the shrine city of Najaf, Iraq.
08/13/2004 -- HUBBERT REVISITED-6: Multicyclic Hubbert model shows global conventional gas output peaking in 2019
A new approach to modeling future global production of natural gas reaffirms an outlook for growing dependence of Western nations on the Middle East and Russia.
08/12/2004 -- CERA: World faces 50% chance for $50/bbl oil in 50 days
The world is currently facing a "50/50 oil market" in that there exists a 50% chance that the price of oil will reach $50/bbl within the next 50 days, according to Daniel Yergin, chairman of Cambridge, Mass.-based Cambridge Energy Research Associates (CERA).
08/12/2004 -- Fellows Energy Ltd. agrees to acquire production in Powder River basin
Fellows Energy Ltd., Broomfield, Colo., has signed a letter of intent to acquire from a private entity the operating management interest in 41 producing coalbed methane wells in the Powder River basin in Wyoming, interests in 126 wells scheduled to come into production during the next year, and interests in nearby undeveloped acreage. The working interest eventually will be 20-30%.
08/12/2004 -- Total acquiring interest in deepwater exploration block off Indonesia
Total SA signed an agreement with Santos Ltd. to acquire a 39.9% interest in a deepwater exploration block north of Bali, Indonesia. Total has an option to obtain another 10.1% interest, subject to certain conditions.
08/12/2004 -- MARKET WATCH
Energy prices generally rebound under supply threats
Energy prices generally rebounded to near-record levels Wednesday among renewed threats of attacks on oil facilities in Iraq, which has not yet full recovered its export capacity from damage caused Monday.
08/12/2004 -- Spike in US coal prices could buoy US natural gas prices
Spot prices for US eastern coal have rocketed by 30-45% in recent months, and some analysts speculate that rising coal prices will put upward pressure on gas prices as electric utilities switch to more economically attractive gas.
08/11/2004 -- Atlanta firm plans to acquire Missouri oil producer
PediaNet.com Inc., Atlanta, signed a letter of intent with Carmel Energy Inc., Houston, to acquire more than 60% of Carmel Energy stock for 30 million PediaNet shares.
08/11/2004 -- MARKET WATCH
Crude oil futures prices ease despite approaching storm
Crude oil futures prices eased in trading Tuesday on the New York Mercantile Exchange, despite the approach of Tropical Storm Bonnie, churning her way northeast in the Gulf of Mexico and heading toward the Florida Panhandle.
08/11/2004 -- Analyst notes lower refining margins despite rising crude oil prices
US refining margins are falling despite rising West Texas Intermediate crude oil prices because seasonal inventory levels drive the relationship between the two, noted Jacques Rousseau, an analyst with Friedman, Billings, Ramsey & Co. Inc.
08/11/2004 -- Pakistan temporarily suspends customs duty on imported E&P equipment
The government of Pakistan has agreed to temporarily allow exploration and production companies to import drilling equipment, seismic vessels, and certain specialized vehicles without payment of customs duty and sales tax.
08/10/2004 -- MARKET WATCH
Shutdown of Iraqi production pushes crude prices to new highs
Crude prices hit new highs Monday with the average price for the Organization of Petroleum Exporting Countries' basket of seven benchmark crudes pushing past $40/bbl for the first time in 20 years, following reports that crude production in southern Iraq was halted because of sabotage threats.
08/09/2004 -- MARKET WATCH
Crude futures prices fall from new record high
Crude futures prices slipped below the $44/bbl mark at the close of Friday's trading session, after earlier hitting a new high of $44.77/bbl in overnight trading on the New York Mercantile Exchange.
08/06/2004 -- Newfield buying Inland Resources, a private Denver oil company
Newfield Exploration Co., Houston, agreed to buy privately owned Denver-based Inland Resources for $465 million, plus $111 million in assumed debt. Closing is expected by early September.
08/06/2004 -- MARKET WATCH
Crude futures prices continue climb in New York, London
Crude futures prices resumed their upward trend Thursday in New York and London on news that uncertainty still looms once again for lower oil exports from Russian's largest oil producer, OAO Yukos.
08/06/2004 -- Southern Alberta wind power project now generating electric power
The joint wind power project of Suncor Energy Inc., EHN Wind Power Canada Inc., and Enbridge Inc. in southern Alberta is now operating and generating electric power, Suncor reported. Full production of 30 Mw is expected by September, following wind turbine commissioning this summer.
08/05/2004 -- Venoco names new corporate officers
Venoco, Inc., Santa Barbara, Calif., announced that two current employees have been promoted to vice-presidents with the oil and gas company.
08/05/2004 -- HUBBERT REVISITED-5: Is oil shale America's answer to peak-oil challenge?
Discussions concerning a peak in global crude production generally fail to address the potential of America's rich, massive oil shale resources.

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General Interest 2004 P