-- Papua New Guinea-Australia gas line proceeds The proposed $5 billion (Aus.) Highlands natural gas pipeline from Papua New Guinea to Australia, has moved forward with the announcement that Australian Gas Light Co. (AGL) has agreed to purchase 1,500 petajoules of gas over 20 years, starting in 2009.
-- MARKET WATCH Refinery fire pushes up oil prices Crude prices rebounded strongly on July 28, wiping out the previous day's losses, as a fire at a Louisiana refinery reminded traders how tightly energy supplies are stretched.
-- John S. Herold reports robust upstream M&A activity Upstream merger and acquisition activity worldwide rebounded last year, particularly in the US and Canada, in a trend that is continuing, said a report from John S. Herold Inc. and Harrison Lovegrove & Co. Ltd.
-- Aramco official outlines plans for increased production Saudi Arabia has 260 billion bbl of proved oil reserves that it can bring to market to meet its goal of increasing production to 12 million b/d by 2009 from the current 10.5 million b/d, a Saudi Aramco official declared in Washington, DC.
-- Ridgeway Petroleum appoints chairman Ridgeway Petroleum Corp., Calgary independent with helium and carbon dioxide properties in Arizona and New Mexico, appointed Rodney L. Eson as chairman.
-- Kerr-McGee names COO; makes other appointments Kerr-McGee Corp. has named David A. Hager chief operating officer. In this new position, Hager continues to lead the Oklahoma City-based firm's worldwide exploration and production business.
-- Whiting Petroleum buying Celero Energy Whiting Petroleum Corp., Denver, plans to buy the oil and gas assets of Celero Energy LP, Midland, Tex., in two separate agreements worth a total combined cash-stock value of $802 million.
-- Kinder Morgan buying, expanding terminals Kinder Morgan Energy Partners LP (KMP) plans to acquire two terminals in separate transactions totaling $48 million and plans to invest an additional $48 million in two unrelated terminal expansion projects.
-- ConocoPhillips, Lukoil finalize Timan-Pechora JV ConocoPhillips and OAO Lukoil jointly announced the June 30 finalization of their OOO Naryanmarneftegaz joint venture to develop Lukoil's reserves in the northern Timan-Pechora area.
-- Gazprom seeks to broaden global energy role OAO Gazprom wants to diversify its assets by acquiring oil production, broading its natural gas production, expanding its European gas exports, and entering the electric power market, Gazprom Chairman Alexey Miller said.
-- US lawmakers seek review of Chinese energy activity Two House committee chairmen from California have asked US President George W. Bush to launch a review of China's growing energy requirements and the implications for US political, strategic, and economic interests.