General Interest 2006 P

12/07/2006 -- Existing state laws, regulations urged for CO₂ storage
Existing state gas-storage statutes and regulatory frameworks should govern future carbon capture and storage (CCS) projects, says an Interstate Oil & Gas Compact Commission task force leader.
12/07/2006 -- House approves pipeline safety reauthorization bill
Pipeline safety legislation considered dead a few weeks earlier came back to life as the US House passed an amended bill by voice vote on Dec. 6. The measure headed for the Senate, where prompt approval was expected.
12/06/2006 -- Tighter oil market likely in 2007, analyst says
The oil market is likely to tighten in 2007 with global demand for crude up by 1.7 million b/d, non-OPEC production growing by just 1 million b/d, and only a 1.1 million b/d increase in refining capacity, said Edward L. Morse, managing director and chief energy economist for Lehman Bros. Inc., New York.
12/06/2006 -- MARKET WATCH
Natural gas prices continue to fall
Crude futures prices were virtually unchanged Dec. 5 on the New York market as traders awaited the latest inventory reports, but natural gas futures continued to fall because of forecasts of warmer weather.
12/06/2006 -- House passes bill on produced-water use
The US government would study expanded uses for water produced with oil and gas under legislation passed Dec. 5 by the House of Representatives.
12/06/2006 -- OCS leasing bill pulled from House floor
US House leaders pulled the Senate's Outer Continental Shelf oil and gas leasing reform bill from the floor on Dec. 5.
12/05/2006 -- Mariner sells interest in Cottonwood project
Mariner Energy Inc. on Nov. 1 completed the sale of its 20% working interest in the Cottonwood project in the Gulf of Mexico, to the project's operator, Petrobras America Inc., for $31.8 million.
12/05/2006 -- MARKET WATCH
Crude futures prices end 5-day rally
Crude futures prices fell Dec. 4, ending a 5-day rally on the New York Market, with a recovery of the US dollar and the National Weather Service's forecast for warmer weather in the northern US next week.
12/05/2006 -- Petrobras changes international area executives
Petroleo Brasileiro SA (Petrobras) has made several changes to its international area executive staff, all effective Jan. 1.
12/05/2006 -- Best to head St. Mary Land & Exploration
St. Mary Land & Exploration Co. Pres. and Chief Operating Officer Tony Best, who joined the company in June, will transition into his new role as chief executive officer on Feb. 26, 2007.
12/04/2006 -- Calderon proposes opening Mexico's oil industry
Mexico's new President Felipe Calderon proposes opening the country's oil industry to foreign oil corporations to help increase crude oil exports.
12/04/2006 -- Statoil lets Kollsnes gas plant upgrade contract
Statoil ASA, on behalf of state-owned Gassco AS, has let an engineering, installation, construction, and commissioning contract to Vetco Aibel for a gas compressor and a condensate train at the Kollsnes gas processing plant near Bergen, Norway.
12/04/2006 -- MARKET WATCH
Crude price rally continues with cold weather
Crude futures prices climbed to a 2-month high Dec. 1 as the first major cold front of the season reached New York after spreading across most of the Midwest.
12/04/2006 -- US House schedules debate on Senate's OCS bill
US House leaders included the Senate's Outer Continental Shelf oil and gas leasing reform bill on Dec. 1 when they announced 16 measures scheduled for floor debate this week.
12/01/2006 -- CERA: US motor fuel market changing
The US motor fuel market is being transformed by higher prices, tightening environmental requirements, changing demographics, growing world demand for oil, and expanding fuel options, said analysts at CERA.
12/01/2006 -- Surge to acquire private oil sands company
Surge Global Energy Inc. agreed to acquire a private Alberta oil sands company in a cash-stock transaction valued at $16 million (Can.) total. The name of the private company was not disclosed.
12/01/2006 -- WoodMac: production boost forecast for Venezuela
Production from Venezuela's marginal fields will surge within 3 years, predicts Wood Mackenzie Ltd., Edinburgh.
12/01/2006 -- MARKET WATCH
Crude prices rally for fourth consecutive session
Crude energy futures prices increased Nov. 30 in the fourth consecutive trading session on the New York market as freezing weather continued to push across the US.
12/01/2006 -- CITC buys stake in Indonesian oil field
CITC Resources has acquired a 51% stake in an oil field on the Seram Non-Bjula Block (PSC) of Seram Island in East Indonesia from Kuwait Foreign Petroleum Exploration Co.
12/01/2006 -- Group applies to divest Mont Belvieu stake
Dan L. Duncan and three corporate entities are seeking approval from the US Federal Trade Commission to sell their interests in Mont Belvieu Storage Partners to partner Louis Dreyfus Energy Services LP.

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