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General Interest 2005 P16

  • 09/28/2005 -- Herold study: Revenue outran E&D spending in 2004
    Oil and gas companies' revenue growth continued to advance ahead of exploration and development outlays during 2004, said the latest annual global review of upstream performance by John S. Herold Inc. and Harrison Lovegrove & Co. Ltd.
  • 09/27/2005 -- Nexus acquires Crux field in Timor Sea
    Nexus Energy Ltd., Melbourne, has acquired 100% of Crux natural gas-condensate field in the Ashmore Cartier section of the Timor Sea from Mogal Marine Pty. Ltd. for $10 million (Aus.) plus $2 million in shares.
  • 09/27/2005 -- Aztec appoints Blackim as president
    Houston-based Aztec Oil & Gas Inc. has appointed Kirk N. Blackim to the vacant position of president.
  • 09/27/2005 -- NPRA elects new officers
    The National Petrochemical & Refiners Association has elected new officers to succeed those whose terms will expire at the conclusion of the NPRA Annual Meeting in March 2006.
  • 09/27/2005 -- Timor-Leste sets up petroleum fund
    The Timor-Leste government has established a petroleum fund for long-term management of its hydrocarbon reserves with a starting balance of $250,000.
  • 09/20/2005 -- Dingell seeks DOE information on refining capacity options
    The House Energy and Commerce Committee's chief minority member has requested help from the US Department of Energy in addressing the domestic oil refining situation.
  • 09/19/2005 -- Tropical Storm Rita renews gulf evacuations
    Even as they worked to bring offshore production back on stream from Hurricane Katrina, oil companies again began to evacuate facilities in the Gulf of Mexico ahead of Tropical Storm Rita, which was building to hurricane strength as it threatened the Florida Keys on Sept. 19.
  • 09/19/2005 -- FERC addresses offshore gathering jurisdiction
    The Federal Energy Regulatory Commission has begun to examine whether it might reassert jurisdiction over offshore natural gas gathering operations.
  • 09/19/2005 -- Norsk Hydro acquiring Spinnaker Exploration
    Norsk Hydro ASA plans to acquire Spinnaker Exploration Co., Houston, in a $2.56 billion transaction geared to boost Norsk Hydro's presence in the Gulf of Mexico and raise its overall international production.
  • 09/19/2005 -- EnCana sells oil, pipeline interests in Ecuador
    EnCana Corp., Calgary, agreed to sell all its oil and pipeline holdings in Ecuador to Andes Petroleum Co., a consortium of Chinese oil companies led by China National Petroleum Corp, for $1.42 billion.
  • 09/16/2005 -- Crosstex appoints senior vice-president
    Crosstex Energy LP has appointed Danny L. Thompson as senior vice-president, engineering and operations.
  • 09/16/2005 -- Onshore repairs may take until yearend, MMS chief says
    Oil and natural gas production is slowly returning from the Gulf of Mexico following Hurricane Katrina, but it could take at least until the end of 2005 before onshore transportation and distribution is fully restored, US Minerals Management Service Director Johnnie Burton said Sept. 16.
  • 09/16/2005 -- CERA: LNG, conservation needed in natural gas market
    Development of new LNG facilities is the only way to reduce prices and volatility in the North American natural gas market, and development must begin in 2008, said Michael Zenker, a senior director of Cambridge Energy Research Associates, in testimony before the US House Government Reform Subcommittee on Energy and Resources.
  • 09/16/2005 -- Boulet named president of Canada's Pebercan
    Pebercan Inc., Montreal, appointed Frederic Boulet as president and chief executive officer. He succeeds Gilles Frachon, who will focus on Pebercan's two subsidiaries.
  • 09/15/2005 -- Antares Energy sells gas fields in Turkey
    Antares Energy Ltd., Perth, sold its Turkish gas fields and operations to Zorlu Petrogas, a subsidiary of Turkish energy giant Zorlu Energy, for $54 million (Aus).
  • 09/14/2005 -- Survey gauges oil-price effects on multinational firms
    High oil prices are taking a toll on US-based multinational companies, making senior executives less optimistic and more uncertain about the future, said analysts at PricewaterhouseCoopers LLP, New York.
  • 09/13/2005 -- Agencies to resist Equilon antitrust ruling
    The US Federal Trade Commission authorized the staff of its general counsel's office to file a joint amicus brief with the Department of Justice asking the Supreme Court to reverse a lower court's finding that Texaco Inc. and Shell Oil Co.'s refining and marketing joint venture violated the Sherman Antitrust Act.
  • 09/13/2005 -- French official threatens 'windfall profit' tax
    French Finance and Economy Minister Thierry Breton has threatened to initiate a windfall profits tax against oil majors Total SA, Esso, BP PLC, and Royal Dutch Shell PLC—all of which operate refineries in France—if they do not develop "concrete and tangible proposals" to "return to consumers a part of the exceptional profits corresponding to an exceptional situation amassed since the beginning of the year." The proposals are due at a Sept. 16 meeting Breton has convened.
  • 09/12/2005 -- EIA sees high US energy costs this winter
    Tight world oil markets coupled with the ravages of Hurricane Katrina have set the stage for a potentially expensive winter heating season, the Energy Information Administration said in its latest Short-Term Energy Outlook.
  • 09/09/2005 -- Capco Energy names interim CEO, president
    Ilyas Chaudhary has been named interim chief executive officer and president of Capco Energy Inc., Houston.

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