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General Interest 2006 P14

  • 11/02/2006 -- WoodMac: Arctic has less oil than earlier estimated
    The entire international Arctic region contains "much less" potential petroleum resources, with a mix of more natural gas, than previously estimated, according to a joint study released Nov. 1 by Wood Mackenzie Ltd., Edinburgh, and Fugro Robertson, part of the Fugro group of companies based in the Netherlands.
  • 11/02/2006 -- Foreign oil firms agree to Bolivia's contract terms
    Bolivia President Evo Morales claimed a victory Oct. 29 when key foreign energy companies agreed to remain in Bolivia, operate under state control, and cede larger shares of profits to the government.
  • 11/02/2006 -- MARKET WATCH
    Crude prices slip slightly; natural gas rises

    Crude prices slipped despite a bullish report on US fuel inventories Nov. 1 as markets continue to doubt that the Organization of Petroleum Exporting Countries will reduce oil production by 1.2 million b/d to 26.3 million b/d.
  • 11/02/2006 -- TC PipeLines to buy SPR stake in Tuscarora gas system
    Sierra Pacific Resources has agreed to sell its 50% interest in its subsidiary Tuscarora Gas Transmission Co. to TC PipeLines LP for $100 million.
  • 11/02/2006 -- Oil workers taken from ship in Niger Delta
    Armed gunmen in Nigeria kidnapped two expatriate oil workers during a raid on an oil services ship operated by Norway-based Petroleum Geo-services (PGS) in the Niger Delta.
  • 11/01/2006 -- MARKET WATCH
    Technical rally pushes up crude futures price

    After bottoming out at $57.05/bbl in interday trading Oct. 31, crude futures prices rose modestly in a late technical rally that forced many traders to cover lower-priced sales positions.
  • 11/01/2006 -- Lukoil receives nod to invest in Kazakhstan firm
    OAO Lukoil Overseas said it intends to buy a 50% interest in Turgai Petroleum Inc., a Kazakhstan company, now that the Arbitration Institute of the Stockholm Chamber of Commerce (Sweden) has ruled in its favor.
  • 11/01/2006 -- Dominion to sell most of its oil and gas assets
    Dominion plans to pursue the sale of most of its oil and natural gas assets to concentrate more on its electric generation and distribution business and its transmission, storage, and retail business, said the utility based in Richmond, Va.
  • 11/01/2006 -- Sakhalin-2 status decision due in late November
    Russia's Natural Resources Minister Yuri Trutnev said Nov. 1 that a final decision on the future of the Sakhalin-2 project likely will be made jointly with the Cabinet later in November, possibly in the third week.
  • 11/01/2006 -- Congressional panel says OPEC manipulates oil prices
    The Organization of Petroleum Exporting Countries, whose members regularly call for stable oil markets, actually has been the greatest source of recent price volatility, a US congressional committee charged on Oct. 31.
  • 10/31/2006 -- UK report urges action on climate change
    Environmentalists, politicians, and business groups have urged the UK government to develop a detailed policy on climate change in their response to a new report on the economic effects of global warming.
  • 10/31/2006 -- Federal probe cites budget cuts for BP plant blast
    Years of budget reductions contributed to conditions leading up to the Mar. 23, 2005, explosion at BP America Inc.'s 460,000-b/d Texas City, Tex., refinery, which killed 15 workers and injured 180 others, the US Chemical Safety Board said Oct. 30.
  • 10/31/2006 -- WoodMac cites jockeying in trade of FSU gas
    Several gas suppliers in the Former Soviet Union appear to be pitting China against European markets in an effort to develop market diversity and leverage in negotiating prices, said analysts Wood Mackenzie, Edinburgh, which added that China may be playing a similar diversification game to secure its supply.
  • 10/31/2006 -- MARKET WATCH
    Crude price drop is biggest in 15 months

    Energy prices fell Oct. 30, with crude registering the biggest 1-day drop for a front-month contract since July 2005 on the New York market, as traders anticipated a build in US fuel inventories.
  • 10/31/2006 -- Duke Energy names planned gas spin-off
    Duke Energy, which earlier announced plans to separate its natural gas business into an independent, publicly traded company, said the spin-off will be called Spectra Energy Corp.
  • 10/30/2006 -- MARKET WATCH
    Market confidence in OPEC raises prices

    Crude prices rebounded Oct. 27 on increased confidence among traders that members of the Organization of Petroleum Exporting Countries will comply with the proposed production cut.
  • 10/27/2006 -- AOPL names Neff to succeed Cooper as president
    Shirley Neff, formerly an economist for the US Senate Energy and Natural Resources Committee, will join the Association of Oil Pipe Lines on Nov. 15.
  • 10/27/2006 -- MARKET WATCH
    Energy prices fall as traders lock in profits

    Energy prices fell Oct. 26 as traders locked in profits from a rally to a 3-week high for crude futures prices in the previous session on the New York market.
  • 10/26/2006 -- China's CITIC Group buys Kazakhstan oil assets
    China's CITIC Group will pay $1.9 billion for the oil assets of Canada-based Nations Energy, whose subsidiary JSC Karazhanbasmunai holds the rights until 2020 to develop the Karazhanbas oil and gas field in Mangistau Oblast, Kazakhstan.
  • 10/26/2006 -- MARKET WATCH
    Big drop in US energy inventories pushes up prices

    Energy prices soared Oct. 25 with front-month crude futures leaping above $61/bbl in the New York market on reports of unexpectedly large declines in US inventories of crude and petroleum products.

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