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General Interest 2008 P

  • 02/15/2008 -- Centrica increases stake in UK gas fields
    Centrica will pay $70 million to Sojitz Energy Project for a 50% equity stake in Grove field, Seven Seas development, the Sloop gas discovery, and associated exploration acreage in the UK North Sea.
  • 02/18/2008 -- IEA sees boost in peak OPEC flow from '08 projects
    Production projects due on stream this year in members of OPEC represent peak gross capacity additions of 3.1 million b/d of oil and other liquids, says IEA.
  • 02/18/2008 -- MARKET WATCH: Energy prices mixed in directionless markets
    Oil futures prices were volatile Feb. 15, but closed essentially flat in the New York market, giving up earlier large gains as traders locked in profits from recent 10% price rally.
  • 02/19/2008 -- Greater energy mix changing supply, demand trends
    In its 2008 energy Panorama review of energy market trends, IFP said a "deep mutation" is occurring in the energy industry as energy diversification and increasing climate change awareness opens new patterns of supply and demand.
  • 02/19/2008 -- Mittal, Essar Oil eye 50% Prize Petroleum equity
    Nonresident Indian steel tycoon Lakshmi Mittal and Indian refiner Essar Oil are among four companies making preparations to buy a 50% equity stake in Prize Petroleum.
  • 02/19/2008 -- Yuma E&P names Conlon president, COO
    Houston independent Yuma Exploration & Production Co. has promoted Michael F. Conlon to president and chief operating officer effective Jan. 1.
  • 02/20/2008 -- Russia's oil industry threatened by high taxes, maturing fields
    High taxes are threatening the future development of Russia's oil and gas industry as production growth stagnates from mature fields, speakers warned at International Petroleum Week in London.
  • 02/20/2008 -- Technology to aid in tackling skills shortage
    Technology will aid in improving the productivity of skilled labor as the petroleum industry struggles to attract and retain new recruits, IP Week delegates were told in London.
  • 02/20/2008 -- Operators still vexed by high exploration costs, taxes
    High oil prices have not resulted in high returns on projects because of an increase in exploration costs and the taxes earned by host governments, according to energy consultancy Wood Mackenzie.
  • 02/21/2008 -- Subsea market to remain strong, study says
    The global subsea oil and gas market will remain strong for the foreseeable future and is forecast to total $218 billion over 2008-12, reports Scottish Enterprise in a study to be released shortly.
  • 02/21/2008 -- MARKET WATCH: Crude prices explore new highs above $100/bbl
    Crude prices continued to explore new highs above $100/bbl Feb. 20 on US markets despite US government reports indicating a troubled economy.
  • 02/21/2008 -- Shtokman company created for field's first phase
    Gazprom, Total, and StatoilHydro have signed a shareholder agreement for the creation of Shtokman Development, a Swiss-registered entity that will oversee Phase 1 development of Shtokman field.
  • 02/22/2008 -- MARKET WATCH: Crude prices drop, ending six-session rally
    Crude futures dropped to near $98/bbl Feb. 21, ending a six-session rally, following reports that US oil inventories rose more than expected in the previous week.
  • 02/22/2008 -- APPEA: Australia's petroleum trade deficit on the rise
    Australia is facing a multimillion dollar petroleum liquids trade deficit within the next 10 years, according to a new study commissioned by the Australian Petroleum Production & Exploration Association.
  • 02/22/2008 -- Ward Petroleum names operations manager
    Enid, Okla., independent Ward Petroleum Corp. has named Mark Jopling operations manager.
  • 02/25/2008 -- Ecuador hails 'integration' with Venezuela
    Ecuadorian President Rafael Correa, while accepting drilling services offered by Venezuela at a discounted rate, has hailed his country's oil and gas "integration" with its South American neighbor.
  • 02/25/2008 -- Flowserve to pay $10.5 million in Iraqi cases
    Flowserve agreed to pay $10.5 million in fines to settle federal charges that a subsidiary paid kickbacks to Iraqi government officials in 2002 and 2003, the US DOJ and SEC announced.
  • 02/26/2008 -- Hyperdynamics names vice-president
    Hyperdynamics Corp., Sugar Land, Tex., has named Jim Spear vice-president and chief geologist. Spear joined the company in November 2007.
  • 02/26/2008 -- BP, Rice form knowledge-transfer group
    BP and Rice University have agreed to form a consortium involving other universities to "advance technical learning and development in BP's global exploration and production business."
  • 02/26/2008 -- Isramco to acquire Midcontinent properties
    Isramco agreed to pay $102 million to GFB Acquisition I LP and GE Financial Services for oil and gas producing properties in Texas, New Mexico, and Oklahoma.

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