General Interest 2006 P

09/27/2006 -- Lawmakers urge MMS to aggressively recover royalties
Two US House Government Reform Committee leaders are demanding that the Department of the Interior develop a new plan to recover an estimated $2 billion of lost royalties from deepwater Gulf of Mexico leases issued in 1998 and 1999.
09/26/2006 -- Murphy agrees to settle Katrina spill case
Murphy Oil USA Inc. has entered into a memorandum of understanding (MOU) to settle for a reported total of $330 million a class action lawsuit covering a hurricane-related oil spill at its 125,000-b/d Meraux, La., refinery.
09/26/2006 -- Tullow Oil to acquire Hardman Resources
Tullow Oil PLC, London, has agreed to acquire Hardman Resources Ltd., Perth, for about $1.47 billion (Aus.).
09/26/2006 -- NPRA praises action for DHS regulation of high-risk plants
The National Petrochemical & Refiners Association praised US House and Senate conferees on Sept. 26 for giving the Department of Homeland Security authority to regulate certain high-risk chemical plants.
09/26/2006 -- MARKET WATCH
Crude futures price rebounds above $61/bbl
The front-month crude futures price rebounded above $61/bbl after briefly falling to $59.52/bbl in interday trading Sept. 25 on the New York market, but natural gas continued falling to its lowest price level in 3 years.
09/25/2006 -- Venezuela, Iran sign energy accords
Venezuelan and Iranian officials on Sept. 17 signed a series of accords, including deals to develop oil fields, build factories, and set up a $2 billion investment fund to finance the projects.
09/25/2006 -- MARKET WATCH
Crude, natural gas prices continue to fall
Front-month crude futures prices hit a 10-month low on Sept. 22 while natural gas registered its lowest closing in 2½ years as US inventories continued to swell.
09/22/2006 -- Pebercan makes executive appointments
Pebercan Inc., Montreal, has appointed Christophe Ranger interim chief executive officer. He succeeds Frédéric Boulet, who will pursue other interests, but will continue to serve as the company's director.
09/22/2006 -- EU energy production drop forces higher imports
While the total amount of energy required to meet the demand of the 25 European Union countries in 2005 remained the same as in 2004 at 1,637 million tonnes of oil equivalent (toe), a 4.5% fall in EU energy production from all sources pushed up its dependence on imports to 56% from 54%, according to Eurostat, the EU's statistical office, in its first 2005 estimates.
09/22/2006 -- Burton suggests possible shape of 1998-99 deepwater royalty terms
Holders of deepwater Gulf of Mexico leases issued in 1998 and 1999 probably would be required to pay royalties starting with the date they agreed to amended terms, US Minerals Management Service Director Johnnie Burton said.
09/22/2006 -- Nabors, partner seek development projects
Nabors Industries Ltd., Hamilton, Bermuda, is expanding into worldwide oil and gas development.
09/22/2006 -- Total Refining names senior vice-presidents
Total Refining & Marketing has named André Tricoire senior vice-president, refining. The company also named Thierry Pflimlin senior vice-president, Asia. Both appointments are effective Oct. 1.
09/22/2006 -- Bolivia issues ultimatum to foreign oil companies
Bolivia Vice-President Alvaro Garcia Linera, acting as the nation's head while President Evo Morales is traveling abroad, has issued an ultimatum to foreign oil companies operating in Bolivia. He said the companies have until Oct. 28 to agree to new contracts regarding nationalization of the country's oil and gas sector.
09/21/2006 -- EPA's new air standards cut fine particulate limits
The US Environmental Protection Agency announced new air quality standards on Sept. 21 that would reduce daily allowable fine particulate matter levels by almost 50%.
09/21/2006 -- MARKET WATCH
Energy prices continue to tumble
Energy prices continued falling Sept. 20, with crude approaching a $60/bbl floor that members of the Organization of Petroleum Exporting Countries might be willing to defend.
09/20/2006 -- Upstream costs keeping pace with oil prices, study says
Oil and gas companies' global upstream spending climbed to $277 billion in 2005, up 31% from 2004, said the latest annual review of upstream performance by John S. Herold Inc. and Harrison Lovegrove & Co. Ltd.
09/20/2006 -- Talisman Energy to sell North Sea Brae assets
Talisman Energy Inc. subsidiary Talisman Energy (UK) Ltd. plans to sell its interests in Brae area fields in the central UK North Sea.
09/20/2006 -- MARKET WATCH
Crude future price hits 6-month low
The front-month crude futures price fell to a 6-month low Sept. 19 on the New York market immediately after US President George W. Bush in a speech to the United Nations appeared to back away from trade sanctions against Iran over its uranium enrichment program.
09/20/2006 -- IEA: Global crude to get heavier, sweeter
The global crude slate will become heavier and slightly sweeter during 2006-11, predicts the International Energy Agency, Paris.
09/20/2006 -- Chaparral Energy to acquire Calumet Oil
Chaparral Energy Inc. plans to acquire Calumet Oil Co. and certain affiliates for $510 million.

Home

General Interest

Exploration & Development

Drilling & Production

Processing

Transportation

Home

2006

General Interest 2006 P