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General Interest 2005 P13

  • 11/07/2005 -- Inpex, Teikoku to integrate operations
    Inpex Corp. and Teikoku Oil Co., both of Japan, will integrate their operations starting next year under a joint holding company with a full merger of all three companies slated for June 2008.
  • 11/07/2005 -- IEA: MENA region to play 'critical' role for world's future oil supply
    Industry will need to focus on the "critical" role that will be played by the producing regions in the Middle East and North Africa in order to meet global energy demand to 2030, according to IEA's World Energy Outlook 2005, released Nov. 7.
  • 11/04/2005 -- Vice promoted to president of ICE
    IntercontinentalExchange (ICE) reported that Charles A. Vice, currently chief operating officer of the Atlanta-based electronic global futures and commodity operator, has been promoted to president. Vice will retain his title of while adding expanded responsibilities.
  • 11/04/2005 -- MARKET WATCH
    Energy prices rebound with stronger economic prospects

    Energy prices surged Nov. 3 with crude again topping $61/bbl in New York as buyers took advantage of recent declines in that market.
  • 11/04/2005 -- Senate passes budget bill with ANWR leasing approval
    The US Senate approved budget legislation that includes language authorizing federal oil and gas leasing in the Arctic National Wildlife Refuge by a 52-47 vote Nov. 3.
  • 11/03/2005 -- EnCana names Eresman president
    Randall K. Eresman will succeed EnCana Corp.'s founding Pres. and Chief Executive Gwyn Morgan, effective Jan. 1, 2006.
  • 11/03/2005 -- MARKET WATCH
    Energy prices slide to lowest levels in months

    Crude, heating oil, and natural gas futures prices pulled back to the lowest levels in months following a Nov. 2 government report of increased commercial US crude and gasoline inventories.
  • 11/02/2005 -- FACTS: Asia-Pacific products demand to keep growing
    Asia-Pacific regional demand for petroleum products will continue to grow while supply, despite plans for additional refining capacity, struggles to keep pace, said Fesharaki Associates Consulting & Technical Services Inc. (FACTS) in an October report.
  • 11/02/2005 -- Tax hikes seen likely for UK North Sea oil companies
    The North Sea oil industry should brace for tax hikes from the UK Treasury, given rising oil prices worldwide, said an Ernst & Young LLP tax analyst in Aberdeen.
  • 11/01/2005 -- Kerr-McGee to sell more US properties
    Kerr-McGee Corp. has agreements with multiple parties for the sales of onshore oil and gas properties with gross proceeds expected to be $510 million.
  • 11/01/2005 -- MARKET WATCH
    Crude futures prices hit 3-month low on NYMEX

    For the first time in 3 months, front-month crude futures prices fell below $60/bbl Oct. 31 on the New York market.
  • 11/01/2005 -- Gas summit speakers note changing market patterns
    Soaring prices of natural gas are changing traditional market patterns by breaking up the gas-electricity link and increasing price volatility in LNG trade, speakers said at the 10th Annual International Gas Summit here.
  • 10/28/2005 -- SK Corp. cuts bid for Inchon Oil Refinery
    South Korean refiner SK Corp. has reduced its bid for Inchon Oil Refinery Co. Ltd. by 160 billion won to about 3.04 trillion won, industry sources said.
  • 10/28/2005 -- Senate panel seeks energy ideas from Norton, Bodman
    Interior Sec. Gale A. Norton and Energy Sec. Samuel W. Bodman probably expected to spend most of their time discussing their agencies' responses to Hurricanes Katrina and Rita when they went before the Senate Energy and Natural Resources Committee on Oct. 27.
  • 10/28/2005 -- CSB cites six safety issues in BP refinery explosion
    Investigators from the US Chemical Safety and Hazard Investigation Board (CSB) Oct. 27 identified six key safety issues underlying the Mar. 23 explosions and fire at BP PLC's 446,400 b/cd Texas City, Tex., refinery. The incident, which was contained within the plant's 24,300 b/cd isomerization unit, killed 15 workers and injured 170 others (OGJ Online, Mar. 23, 2005).
  • 10/28/2005 -- Provident to buy EnCana NGL business
    Provident Energy Trust agreed to buy EnCana Corp.'s NGL business for $586 million, subject to closing conditions and regulatory approvals. Both companies are based in Calgary.
  • 10/28/2005 -- MARKET WATCH
    New York crude futures price passes $61/bbl

    The front-month crude futures price climbed above $61/bbl in the New York market as oil companies began reporting record profits for the latest quarter.
  • 10/27/2005 -- Deep Rock, private firm to seek production
    Deep Rock Oil & Gas Inc., Tulsa, signed a letter of intent with privately owned Washington Gathering Systems Inc. to jointly acquire existing or develop natural gas production in northern Oklahoma.
  • 10/27/2005 -- Kerr-McGee gains Trinidad and Tobago stakes
    Kerr-McGee Oil & Gas Corp., through its Trinidad and Tobago affiliates, acquired a 25% interest in the southern part of Block 2(c) Retained Exploration Area (REA) and a 30% interest in Block 3(a) off Trinidad and Tobago.
  • 10/27/2005 -- MARKET WATCH
    Increased US inventories deflate energy prices

    Energy prices fell Oct. 26 on reports of builds in US crude and gasoline inventories, but markets didn't relinquish all of the gains from the previous trading session.
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