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General Interest 2006 P8

  • 12/28/2006 -- Russia to increase oil, gas exports in 2010
    Russia's Economic Development and Trade Ministry has forecast that the country's gas production will increase to 722 billion cu m in 2010, with exports of 223.4 billion cu m. Oil production will grow to 512 million tonnes in 2010, with exports of 271 million tonnes, it said.
  • 12/28/2006 -- Gazprom's Sakhalin-2 buyin to offset environmental damage
    OAO Gazprom Deputy Chief Executive Alexander Medvedev said Dec. 28 that a portion of the $7.45 billion his firm spent to acquire a controlling stake in the Sakhalin-2 oil and gas project would go toward correcting alleged environmental damage caused by the development (OGJ Online, Dec. 21, 2006).
  • 12/28/2006 -- MARKET WATCH
    Oil prices continue slump

    Crude prices continued to fall for the fourth consecutive trading session because of warm weather, down Dec. 27 to the lowest level for a front-month in more than a month on the New York market.
  • 12/27/2006 -- Iran's nuclear stance may reflect oil declines
    Iran may need to develop nuclear power plants to meet domestic energy requirements because its crude oil operations are seriously declining, a Johns Hopkins University researcher suggests.
  • 12/27/2006 -- Plains confirms offshore oil pipeline leak
    Plains All American Pipeline LP said a crude oil leak was detected Dec. 24 on its High Island Pipeline System off Texas City, Tex., 30 miles south of Galveston in the Gulf of Mexico.
  • 12/27/2006 -- MARKET WATCH
    Warmer weather pushes down energy prices

    Energy prices fell as markets reopened Dec. 26 after the long Christmas holiday. Traders shrugged off geopolitical issues to focus instead on predictions of warm weather that would reduce US demand for fuel.
  • 12/21/2006 -- Gazprom buying into Sakhalin Energy
    OAO Gazprom signed a protocol with Royal Dutch Shell PLC, Mitsui &Co. Ltd., and Mitsubishi Corp. to bring Gazprom into the Sakhalin Energy Investment Co. Ltd. (SEIC) as the leading shareholder.
  • 12/21/2006 -- Venezuelan energy minister resigns
    Venezuelan Energy Minister Rafael Ramirez resigned after President Hugo Chavez requested the resignation of all his cabinet ministers.
  • 12/21/2006 -- MARKET WATCH
    Crude prices climb; gas prices fall

    Crude prices edged higher Dec. 20 following the Energy Information Administration's report of a larger-than-expected drop in commercial US crude stocks in the week ended Dec. 15.
  • 12/21/2006 -- Harken acquires shares of Canadian independent
    Harken Energy Corp., Houston, acquired common shares and warrants amounting to about 9% of Spitfire Energy Ltd., a public Calgary independent producer with operations in Alberta and Saskatchewan.
  • 12/21/2006 -- Bush signs Senate's OCS bill into law
    President Bush signed into law the tax relief and health care bill that includes S. 3711, which reopens to oil and gas leasing acreage in the eastern Gulf of Mexico.
  • 12/21/2006 -- US energy corridor study needs more time
    A federal interagency team needs more time to consider comments received on potential environmental impacts of designating energy corridors in 11 western US states.
  • 12/20/2006 -- Holiday publishing schedule
    Because of the Christmas and New Year's holidays, the Oil & Gas Journal Daily Update e-newsletter will not be issued Dec. 21, 2006, through Jan. 1, 2007. E-newsletter distribution will resume Jan. 2, 2007.
  • 12/20/2006 -- MARKET WATCH
    Speculation on US stocks boosts energy prices

    Energy prices rose Dec. 19, regaining some of the losses from the previous trading session, in expectation of reports that US crude inventories were down for the fourth consecutive week.
  • 12/20/2006 -- New Zealand to meet IEA inventory target
    New Zealand Energy Minister David Parker announced that, effective Jan. 1, 2007, New Zealand would meet its International Energy Agency (IEA) obligation to hold oil stocks representing 90 days of net oil imports.
  • 12/20/2006 -- EPA issues final SPCC rule, compliance exemptions
    The US Environmental Protection Agency has issued a final rule on oil spill prevention, control, and countermeasures (SPCC) that will provide compliance alternatives for some facilities.
  • 12/19/2006 -- MARKET WATCH
    Energy prices fall as US weather warms

    Energy prices fell Dec. 18 as traders put more faith in forecasts of warm weather in the US than in the promise of the Organization of Petroleum Exporting Countries to cut crude production.
  • 12/18/2006 -- Statoil, Hydro to merge in $30 billion deal
    The boards of Norway's Statoil ASA and Norsk Hydro ASA have agreed to merge their oil and gas operations in a deal valued at about $30 billion, creating the world's largest offshore operator.
  • 12/18/2006 -- Countries sign agreement to boost energy efficiency
    The US, China, India, Japan, and South Korea agreed on Dec. 15 to work together to boost energy efficiency, to diversify their sources of energy, and to guard against emergencies in the face of rising oil prices.
  • 12/18/2006 -- MARKET WATCH
    Crude prices top $63/bbl in New York, London

    Crude futures prices rose above $63/bbl on Dec. 15, ending a week of renewed concerns about oil supply prompted by the Organization of Petroleum Exporting Countries' decision to trim production.
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