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General Interest 2007 P

  • 01/24/2007 -- DOI: More 'tools' needed for revised deepwater lease agreements
    Six companies holding deepwater Gulf of Mexico leases issued in 1998-99 without price thresholds have voluntarily renegotiated terms, but the government needs more tools for encouraging others to do so, a top US Department of the Interior official said on Jan. 18.
  • 01/24/2007 -- MARKET WATCH
    SPR plan drives up crude futures price

    For the first time in 2 weeks, the front-month crude futures contract closed above $55/bbl Jan. 23 on the New York market shortly after Sec. of Energy Samuel W. Bodman announced plans to double the amount of oil in the US SPR to 1.5 billion bbl by 2027.
  • 01/24/2007 -- Bush seeks lower gasoline use, expands SPR
    US President George W. Bush has set ambitions goals for displacing gasoline with renewable fuels while announcing plans to double capacity of the Strategic Petroleum Reserve (SPR).
  • 01/25/2007 -- MARKET WATCH
    Cold weather, other factors lift crude prices

    Futures prices for crude and products continued to climb Jan. 24 as the return of colder weather focused traders' attention on supply and demand factors that are still supporting energy markets.
  • 01/26/2007 -- EPA issues state underground tank guidelines
    Underground storage tank manufacturers and installers must have financial resources to clean up a site if a leak or spill occurs due to improper manufacturing or installation, the US Environmental Protection Agency said as it issued two final grant guidelines for states on Jan. 24.
  • 01/26/2007 -- GE Energy to develop coal gasification plant
    GE Energy Financial Services will participate in the development of a 630 net Mw integrated coal gasification combined cycle (IGCC) facility in Henderson County, Ky., with its acquisition of a 20% equity interest in Erora Group LLC.
  • 01/29/2007 -- Toreador makes executive management changes
    Nigel Lovett has been elected Toreador Resources Corp. president and chief executive officer. He succeeds G. Thomas Graves III, who has resigned.
  • 01/29/2007 -- MARKET WATCH
    Crude prices rebound above $55/bbl

    Energy prices rebounded, closing above $55/bbl for crude and $7/MMbtu for natural gas Jan. 26 on the New York futures market as demand rallied with freezing temperatures in the US Northeast and renewed tensions in the Middle East.
  • 01/29/2007 -- Japan's Middle East oil imports fell 1% in 2006
    Japanese imports of Middle East crude fell in 2006, dropping by 1% from 2005, when they represented 90.2% of the country's consumption.
  • 01/29/2007 -- CNOOC seeks Hunt interest in Yemen LNG
    China National Offshore Oil Corp. is reported to be offering $600 million to acquire Hunt Oil Co.'s stake in Yemen LNG at the port of Balhaf on Yemen's southern coast.
  • 01/29/2007 -- Japan raises renewables use requirements
    Japan's Ministry of Economy, Trade, and Industry has established new guidelines aimed at requiring the nation's electric power companies to use renewable energy sources for 1.63% or 16 billion kw-hr of their sales in 2014.
  • 01/29/2007 -- Tesoro to buy Shell Wilmington refinery
    Tesoro Corp. agreed to buy the 100,000 b/cd Wilmington refinery south of Los Angeles and its products terminal from Shell Oil Products US.
  • 01/30/2007 -- Ortiz, head of Bolivia's YPFB, resigns
    Juan Carlos Ortiz, head of Bolivia's state-owned Yacimientos Petroliferos Fiscales Bolivianos (YPFB), has resigned over disagreements with the government.
  • 01/30/2007 -- Satkaliyev named Kazakh deputy energy minister
    Almasadam Satkaliyev has been appointed Kazakhstan deputy minister of energy and mineral resources, succeeding Byrlyk Orazbayev.
  • 01/30/2007 -- Georgia chooses Azerbaijan as main gas supplier
    Georgian President Mikheil Saakashvili has announced that neighboring Azerbaijan will be his country's main supplier of natural gas, but that he would still like to keep Russia as a supplier to ensure diversity.
  • 01/30/2007 -- MARKET WATCH
    Crude price falls below $55/bbl in New York

    Energy prices fell Jan. 29, wiping out nearly all gains from the previous trading session as uncertain markets continued to waffle.
  • 01/30/2007 -- CNOOC to boost development budget
    CNOOC Ltd. anticipates that more than 20 projects will go on stream in a few years, with 5 projects to come on stream this year.
  • 02/01/2007 -- Ivanhoe names Gasca president, chief executive
    Ivanhoe Energy Inc. Pres. and Chief Operating Officer Joseph Gasca has been promoted to president and chief executive officer.
  • 02/01/2007 -- MARKET WATCH
    Crude futures top $58/bbl in New York market

    Energy prices generally shot up Jan. 31 with the front-month crude price closing above $58/bbl at the highest level since the start of 2007 amid forecasts for continued cold weather in the US Midwest and Northeast.
  • 02/01/2007 -- Bolivia's new YPFB president seen as more leftist
    Manuel Morales Olivera, appointed by Bolivia President Evo Morales as the new president of state-owned Yacimientos Petroliferos Fiscales Bolivianos (YPFB) to replace Juan Carlos Ortiz who resigned, is seen by the Brazilian press as being more leftist than his predecessor (OGJ Online, Jan. 30, 2007).

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