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General Interest 2005 P

  • 08/05/2005 -- Sasol considers selling olefins business
    Sasol Ltd. said it wants to sell its olefins and surfactants (O&S) business, Condea Servo BV, much of which Sasol acquired from RWE-Dea, Hamburg, in 2001, the South African company said Aug. 1.
  • 08/05/2005 -- Mauritanian work continues despite coup
    International oil companies working in Mauritania have expressed confidence about operations in the country despite a bloodless military coup that toppled the government of former President Maaouya Ould Sid'Ahmed Taya while he was abroad on Aug 3.
  • 08/05/2005 -- Maintenance, Spanish demand to lower US LNG imports
    Work on a jetty line at Atlantic LNG Co. (ALNG) of Trinidad & Tobago's Point Fortin export facility, the draw from Spain, and "chronic" planned maintenance at Dominion Cove Point LNG LP's Maryland import facility "will have a profound affect on US LNG imports in August," according to Commercial Services Co. Ltd.
  • 08/05/2005 -- MARKET WATCH
    Crude prices rebound above $61/bbl
    Crude prices rebounded above $61/bbl, and natural gas hit a 9-month high in the New York futures market following a bullish government report Aug. 4 on US gas storage.
  • 08/04/2005 -- Total SA to acquire Deer Creek Energy
    Total SA plans to acquire Deer Creek Energy Ltd., Calgary, for $1.11 billion as part of its strategy of expanding heavy oil operations.
  • 08/04/2005 -- Harvest considers arbitration in tax dispute
    Harvest Natural Resources Inc. is considering going to international arbitration over tax evasion claims that the Venezuelan government has made against the Houston independent oil company, its top executive said.
  • 08/04/2005 -- Valero plans to cease production of MTBE
    Valero Energy Corp. announced that it plans to quit producing methyl tertiary butyl ether next spring in an effort to reduce its exposure to product liability litigation.
  • 08/04/2005 -- Kellco Energy acquires Blue Ridge field property
    Kellco Energy Ltd. acquired the interest of a unit of PetroSearch Energy Corp., Houston, in Blue Ridge salt dome field in Fort Bend County for $2.14 million, retroactive to July 1, 2005.
  • 08/04/2005 -- MARKET WATCH
    Crude futures price retreats from record high
    Energy prices fell Aug. 3, following a government report of a small but surprising build in US crude reserves after 4 weeks of declines.
  • 08/03/2005 -- Energy bill effects begin as refiner exits MTBE business
    Valero Energy Corp. announced plans to quit producing methyl tertiary butyl ether (MTBE) to reduce its product liability lawsuit exposure. The action, which will cut gasoline production at its refineries by about 60,000 b/d, came after the House-Senate conference removed MTBE defective-product liability protection from the energy bill.
  • 08/03/2005 -- Sonaran Energy moving from London to Phoenix
    Sonoran Energy Inc. will move its corporate headquarters, effective Sept. 1, from London to Phoenix, Ariz.
  • 08/03/2005 -- Targa Resources to buy Dynegy midstream gas assets
    Dynegy Inc., Houston, signed a definitive agreement to sell its midstream natural gas business for nearly $2.5 billion cash to Targa Resources Inc., a Houston midstream company affiliated with private equity investor Warburg Pincus LLC.
  • 08/03/2005 -- Chinese ministry cites crude import needs
    China's demand for crude oil will outstrip domestic supply by some 130 million tonnes in 2005. Imports will have to fill demand not met by domestic production.
  • 08/03/2005 -- CBO estimates energy bill's spending, revenue effects
    Congressional analysts estimate that the 2005 energy bill will increase direct spending by $2.2 billion from fiscal 2006 through 2010 and reduce federal revenue by a projected $7.9 billion from fiscal 2005 through 2010.
  • 08/03/2005 -- MARKET WATCH
    Crude futures price climbs to new high on NYMEX
    Energy prices continued to climb Aug. 2 among ongoing concerns about future supplies and expectations that the Energy Information Administration would report this week another drop in US crude inventories.
  • 08/02/2005 -- Purcell reorganizes, sells in Alberta, Saskatchewan
    Purcell Energy Ltd., Calgary, reorganized into an exploration-focused gas production company named Tenakaco and a gas production company named Purcell.
  • 08/02/2005 -- CNOOC withdraws bid for Unocal, citing politics
    CNOOC has withdrawn its offer for Unocal Corp., citing politics as the reason for ending a bidding contest between itself and Chevron Corp. Unocal shareholders are to vote on Chevron's offer Aug. 10.
  • 08/02/2005 -- Pakistan plans three thermal power stations
    The National Electric Power Regulatory Authority of Pakistan has received 35 bids from 7 local and 13 international companies to build three electric power stations fueled by natural gas, oil, or both in Lahore, Uch, and Faisalabad, Pakistan. The stations would generate about 1,300 Mw of electricity at an estimated investment of $1 billion. Bidders are from the US, UK, China, Japan, Malaysia, UAE, Turkey, and Pakistan.
  • 08/02/2005 -- Beach boosts stake in project off Victoria
    Beach Petroleum Ltd. of Adelaide has exercised its preemptive right to acquire an additional 12.5% interest in Basker-Manta-Gummy (BMG) oil and gas field development off Victoria from Anzon Australia Ltd., Sydney.
  • 08/02/2005 -- MARKET WATCH
    Crude futures prices hit record highs
    The Aug. 1 death of Saudi Arabia's King Fahd bin Abdul Aziz drove crude futures prices to record highs, despite the smooth succession of his half-brother, former Crown Prince Abdullah bin Abdulaziz al-Saud, to the throne.
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