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General Interest 2007 P

  • 12/13/2007 -- Senate Democrats agree to drop energy bill's tax provisions
    US Senate Democrats agreed to jettison oil and gas tax provisions after the modified energy bill missed cloture for a second time on Dec. 13 by a 59-40 vote.
  • 12/13/2007 -- MARKET WATCH: Oil price tops $94/bbl in biggest leap in 11 months
    Crude futures prices jumped more than $4 to top $94/bbl Dec. 12, the biggest one-day gain since Jan. 30 and the highest closing since Nov. 27 on the New York market.
  • 12/13/2007 -- China calls for oil worker safety in Sudan, Ethiopia
    The Chinese government has called for the safety of its oil workers in two African countries, citing the dangers to operations posed by antigovernment rebels in Sudan and Ethiopia.
  • 12/13/2007 -- Action needed to meet climate change challenge
    Oil and gas companies and other energy producers are being looked to for assistance in finding a solution to the climate change problem, an energy expert said at the UN Climate Change Conference in Bali.
  • 12/13/2007 -- Senate prepares to debate modified energy bill
    US Senate Democrats removed several provisions from the reworked energy bill that the House passed on Dec. 6, with an eye toward debating and passing the measure on Dec. 13.
  • 12/12/2007 -- EnCana budgets $6.9 billion for 2008 plan
    EnCana Corp. reported it has budgeted $6.9 billion for its 2008 capital spending plan, which is up about 13% from 2007.
  • 12/12/2007 -- Ecuador lifts emergency decree; will probe abuses
    Ecuador has reached an agreement with human rights organizations and regional leaders and has lifted the state of emergency it decreed on Nov. 29 in the province of Orellana.
  • 12/12/2007 -- NPRA elects new president
    The National Petrochemical & Refiners Association has elected Executive Vice-Pres. Charles T. Drevna as the association's president.
  • 12/12/2007 -- Global E&P spending forecast to rise 11% in 2008
    Global capital expenditures for exploration and production companies is expected to increase 11% to $332 billion in 2008, according to the latest spending survey released Dec. 10 by Lehman Bros.
  • 12/12/2007 -- MARKET WATCH: Prices hiked by funds rate reduction, ice storm
    Energy prices rose Dec. 11 as the Federal Open Market Committee cut the benchmark federal funds rate by a quarter-point to 4.25% and an ice storm knocked out electrical power in Oklahoma.
  • 12/11/2007 -- France levies high-profits tax on oil companies
    France's oil companies will pay "an exceptional tax" to help fund a heating oil premium granted by the government to low income householders.
  • 12/11/2007 -- MARKET WATCH: Crude prices sag as rally fails
    Crude prices tried to rally but failed to break the $90/bbl barrier Dec. 10 ahead of the Dec. 11 meeting of the Federal Open Market Committee, the policy-making arm of the Federal Reserve Bank.
  • 12/11/2007 -- Nexen plans $2.4 billion capex in 2008
    Nexen Inc. has approved a 2008 capital investment program of $2.4 billion, about $1.2 billion less than its 2007 program.
  • 12/11/2007 -- UK N Sea tax rules to be revamped, not abolished
    Despite strong pressure from the oil and gas industry, the UK government has rejected calls to immediately abolish the North Sea Petroleum Revenue Tax (PRT) even though it announced a proposal Dec. 6 to shake up tax rules and decommissioning rules to encourage continuous investment in the mature area (OGJ Online, Dec. 7, 2007).
  • 12/10/2007 -- Chevron outlines $22.9 billion budget for 2008
    Chevron Corp. plans a $22.9 billion capital and exploratory spending program for 2008, a 15% increase from estimated outlays of $20 billion in 2007.
  • 12/10/2007 -- MARKET WATCH: Energy prices drop on mixed signs of US economy
    Energy prices fell Dec. 7 among mixed reports on US employment that could leave the door open for another interest rate reduction when the Federal Open Market Committee meets Dec. 11.
  • 12/07/2007 -- US House passes its energy bill
    US Senate Republicans on Dec. 7 refused to close debate on an energy bill passed by the US House of Representatives. The House energy bill appears headed for a filibuster in the Senate.
  • 12/07/2007 -- MARKET WATCH:
    Crude price rebounds above $90/bbl
    Crude futures prices rebounded above $90/bbl Dec. 6 after the US government outlined a mortgage aid plan that might relieve strains on the economy.
  • 12/07/2007 -- UK Treasury proposes North Sea tax rules revamp
    The UK government, in a paper released on Dec. 6, has unveiled proposals to shake up decommissioning rules and tax rules for the UK North Sea to encourage continuous investment in the mature area.
  • 12/06/2007 -- MARKET WATCH: Crude prices continue to slip
    Energy prices continued to slip lower as the Organization of Petroleum Exporting Countries declined Dec. 5 to increase current production levels.
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