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General Interest 2005 P

  • 05/25/2005 -- First leg of BTC pipeline inaugurated in Azerbaijan
    The first leg of the Baku-Tbilisi-Ceyhan (BTC) oil export pipeline was inaugurated May 25 in an official ceremony at the head pump station in the Sangachal Terminal near Baku.
  • 05/23/2005 -- Occidental acquires Permian basin production
    Occidental Petroleum Corp. has acquired from ExxonMobil Corp. an interest in oil and gas production in the West Texas Permian basin for $972 million.
  • 05/18/2005 -- Saudi, US officials pledge response to tight oil markets
    Saudi Arabian and US government officials expressed their determination May 17 to respond to tight oil markets that have pushed prices above $50/bbl.
  • 05/11/2005 -- OTC: Collaboration in deepwater projects raises issues
    The increased complexity of deepwater operations, coupled with continued downsizing by operators, has boosted the role of contractors in the development of deepwater and ultradeepwater projects.
  • 05/31/2005 -- BPZ Energy names CEO, COO
    BPZ Energy Inc., Houston, appointed Frederic Briens as chief operating officer.
  • 05/20/2005 -- Kinder Morgan names division presidents, executive vice-president
    Kinder Morgan Inc. named Park Shaper president and Steve Kean executive vice-president, operations.
  • 05/24/2005 -- Kerr-McGee takes stake in block off Angola
    Kerr-McGee Angola Ltd. has signed an agreement with Angola's national oil company Sonangol to take a 25% contract interest in Block 10 off Angola.
  • 05/10/2005 -- Cinergy, Duke Energy agree to merge
    Cinergy Corp., Cincinnati, and Duke Energy Corp., Charlotte, NC, have signed a definitive merger agreement to create an energy company with approximately $36 billion in market capitalization and 5.4 million retail customers through a stock swap.
  • 04/29/2005 -- Work slows on Mackenzie Gas Project
    Imperial Oil Ltd. said operational work for the proposed $7 billion Mackenzie Gas Project stopped while project partners finish benefit and access agreements and pursue "a clear regulatory process, including time lines."
  • 04/12/2005 -- Pertamina seeks spot market LNG
    Indonesia's state oil and gas firm PT Pertamina is negotiating spot market purchases of 125,000 tonnes of LNG from "a Middle East country" to meet commitments to buyers in Japan, Taiwan, and South Korea—the country's three largest customers.
  • 04/22/2005 -- MARKET WATCH
    Gasoline futures price rallies

    Crude oil prices rose on the New York Mercantile Exchange Apr. 21 on the support of strengthening gasoline prices amid news reports of a problem at the ConocoPhillips refinery in Lake Charles, La.
  • 04/20/2005 -- US Senate offshore leasing foes reaffirm opposition
    US Senate Energy and Natural Resources Committee members from California, Florida, and North Carolina reiterated their strong opposition Apr. 19 to authorization of additional oil and gas leasing of the Outer Continental Shelf or related offshore activity.
  • 04/14/2005 -- Growing demand seen changing gas trade
    With global demand for natural gas likely to grow by 2.2%/year during the next 2 decades, gas trade faces major changes, says Ron Billings, vice-president of LNG for ExxonMobil Gas & Power Marketing Co.
  • 04/04/2005 -- ChevronTexaco agrees to acquire Unocal
    ChevronTexaco Corp. has agreed to acquire Unocal Corp. in a transaction valued at $18 billion in stock and cash, including net debt. The acquisition represents the largest union of US oil and gas companies since the $15 billion Conoco Corp.-Phillips Petroleum Co. merger in 2002.
  • 04/28/2005 -- Marathon paying more for Marathon Ashland Petroleum
    Marathon Oil Corp. agreed to pay an additional $700 million in a modified agreement with Ashland Inc. to acquire Ashland's 38% interest in Marathon Ashland Petroleum LLC (MAP) to satisfy tax-related concerns.
  • 04/13/2005 -- Venoco sells BMC field, buys Marquez Energy
    Venoco Inc., Carpinteria, Calif., has closed the sale of Big Mineral Creek (BMC) field in Grayson County, North Texas, to BlackWell BMC LP for $45 million.
  • 04/07/2005 -- ExxonMobil picked for Upper Zakum talks
    The Abu Dhabi Supreme Petroleum Council selected ExxonMobil Corp. for final negotiations of an 28% equity interest in giant offshore Upper Zakum oil field.
  • 04/01/2005 -- XTO buying Plains Exploration properties
    XTO Energy Inc. agreed to purchase producing properties in East Texas and northern Louisiana for $350 million from Plains Exploration & Production Co., Houston.
  • 04/01/2005 -- Forest Oil advances through leadership change, reorganization
    Forest Oil Corp. Pres. and CEOH. Craig Clark "We're a mature industry in North America. I think exploration worldwide is sometimes overrated. It's amazing that most of the fields that have been discovered around the world were around and in existing areas of hydrocarbons."
  • 03/29/2005 -- Tahiti oil pipeline due in Gulf of Mexico
    Amberjack Pipeline Co. LLC has agreed to install 52 miles of pipeline at least 22 in. in diameter for oil from the Tahiti prospect in the Gulf of Mexico.

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