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General Interest 2006 P

  • 10/23/2006 -- MARKET WATCH
    OPEC production cut doubts reduce prices
    Having risen in the previous session after Saudi Arabia endorsed a proposed production cut, crude futures prices fell Oct. 20 after the Organization of Petroleum Exporting Countries announced a larger-than-expected reduction of 1.2 million b/d that would lower the 10 affected members' current production to 26.3 million b/d on Nov. 1.
  • 10/23/2006 -- Pluris Energy to buy Argentinean firm
    Pluris Energy Group Inc., Houston, has agreed to acquire San Enrique Petrolera SA of Buenos Aires for an undisclosed amount.
  • 10/23/2006 -- Pearl E&P, Atlas Energy to merge
    Calgary independents Pearl Exploration & Production Ltd. and Atlas Energy Ltd. signed a merger agreement worth $340 million (Can.). Closing is expected in December.
  • 10/20/2006 -- API: US well completions broke records during 3Q
    US oil and gas drilling reached its highest quarterly level in more than 20 years with an estimated 12,687 completions in the 3 months ended Sept. 30, the American Petroleum Institute said on Oct. 19.
  • 10/20/2006 -- FERC streamlines rules on gas from LNG
    The US Federal Energy Regulatory Commission broadened its rules on natural gas projects eligible to proceed without a specific, case-by-case FERC authorization.
  • 10/20/2006 -- EU, Russia seek more-secure energy partnership
    The European Union's energy security strategy is embracing a worldwide notion including not only its traditional suppliers but also Africa and Latin America.
  • 10/20/2006 -- Argentina, Bolivia sign natural gas accord
    Argentine President Nestor Kirchner and Bolivia President Evo Morales on Oct. 19 signed a natural gas accord calling for $1 billion worth of investments to increase the flow of Bolivian gas into Argentina.
  • 10/20/2006 -- MARKET WATCH
    Energy prices rise; OPEC cuts 1.2 million b/d
    Energy prices rose Oct. 19 after Saudi Arabian Oil Minister Ali I. al-Naimi endorsed a counter-seasonal proposal to reduce production from the Organization of Petroleum Exporting Countries at a meeting in Qatar.
  • 10/20/2006 -- Total's stake in Cepsa reaches 48.83% interest
    Total SA now holds 48.83% interest in Spanish integrated firm Cepsa Group, having recently bought 4.35% interest from Banco Santander Central Hispano (Santander).
  • 10/20/2006 -- IFP: Oil prices bloat service company profits
    The global oil service and equipment (OS&E) industry is continuing to surf on the wave of high oil prices that are expected to push up 2006 exploration and production expenditures by 21% to $266.9 billion, reported Institut Français du Pétrole in a recent update.
  • 10/19/2006 -- Pogo Producing to divest noncore assets
    Pogo Producing Co. plans to divest nonstrategic oil and gas properties in the Gulf of Mexico, south and east Texas, south Louisiana, the Permian basin and Texas Panhandle areas, and western Canada.
  • 10/19/2006 -- MARKET WATCH
    Unexpected inventory changes undermine crude prices
    Crude futures prices fell Oct. 18 in the New York market on reports of an increase in US crude inventories and declines in gasoline and heating oil stocks that were all bigger than expected, with refineries operating at 86.3% of capacity as some facilities shut down for seasonal maintenance.
  • 10/18/2006 -- NPRA's Slaughter: 'Biofuels are not the answer'
    Biofuels are not the answer to US energy supply problems, said the president of the National Petrochemical & Refiners Association at a management forum in Houston.
  • 10/18/2006 -- MARKET WATCH
    Energy prices fall ahead of OPEC meeting
    Energy prices fell Oct. 17, with traders awaiting new market directions from ministers of the Organization of Petroleum Exporting Countries at an emergency meeting scheduled Oct. 19 in Qatar.
  • 10/18/2006 -- Cairn India files draft prospectus for IPO
    Cairn Energy PLC, Aberdeen, hopes to raise $2 billion through an initial public offering of its subsidiary Cairn India Ltd.
  • 10/17/2006 -- Pemex buys US goods, services with Ex-Im loans
    The US Export-Import Bank is providing $900 million in three long-term loan guarantees to Petroleos Mexicanos, which is applying it toward the $1 billion it is spending on US energy services and equipment.
  • 10/17/2006 -- MARKET WATCH
    Energy prices surge higher
    November crude futures rose, briefly touching $60/bbl Oct. 16 in New York, while gas prices surged higher by nearly 14% on expectations of more cold weather and a production cut by OPEC.
  • 10/17/2006 -- API: US refiners spent $8 billion to provide ULSD
    US refiners spent $8 billion, and pipelines and terminal operators spent hundreds of millions more to bring ultralow-sulfur diesel (ULSD) to market, an official of the American Petroleum Institute said at the group's annual meeting here.
  • 10/17/2006 -- Rosneft, CNPC to form JV E&P company
    Russia's Rosneft and China National Petroleum Corp. have signed a protocol to form the joint venture Vostok Energy Ltd.
  • 10/17/2006 -- Smolik to head El Paso E&P
    El Paso Corp. has named Brent J. Smolik president of El Paso Exploration & Production Co., effective Nov. 1.
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