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General Interest 2008 P16

  • 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.
  • 02/26/2008 -- GDF-Suez to buy Teeside electric power plant
    Gaz de France and Suez, which plan to merge by June, have acquired on a 50-50 basis, the 1,875 Mw Teeside electric power plant, Europe's largest combined-cycle gas turbine facility.
  • 02/27/2008 -- Poor capital efficiency affects UKCS competitiveness
    Falling capital efficiency for operators on the UKCS is threatening the area's global competitiveness for upstream investment, offshore trade association Oil & Gas UK has warned.
  • 02/27/2008 -- MARKET WATCH: Weak dollar advances record crude prices
    Crude futures prices continued climbing to new intraday and closing highs Feb. 26 as the US dollar tumbled to a record low against the euro in currency markets.
  • 02/27/2008 -- Senate panel: Bush sending conflicting signals about SPR
    The Bush administration sends conflicting signals when it wants to expand purchases for the SPR despite unusually high prices while vigorously promoting alternatives to end the nation's "oil addiction," Democrats on the Senate ENRC charged.
  • 02/27/2008 -- Petroplus group forms US refinery investment firm
    Petroplus Holdings AG, Blackstone Group, and First Reserve have jointly launched a $1 billion US refinery acquisition program seeking other areas for growth.
  • 02/28/2008 -- Enger elevated to Ellora Energy CFO
    Ellora Energy Inc., Boulder, Colo., has appointed Steven R. Enger to executive vice-president and chief financial officer.
  • 02/28/2008 -- BP confident to achieve 4 million b/d by 2020
    BP PLC expects to produce at least 4 million b/d of oil until 2020 even without new discoveries or access to new opportunities, the company's chief executive, Tony Hayward said on Feb. 27.
  • 02/28/2008 -- MARKET WATCH: Crude price retreats from new intraday high
    The front-month oil contract climbed to a record high above $102/bbl in early trading Feb. 27 but then retreated after US officials reported larger-than-expected builds in oil and gasoline inventories.
  • 02/28/2008 -- Shell Oil outlines 12-point energy plan
    Shell Oil Co. Pres. John D. Hofmeister said his company proposes a 12-point energy plan, noting that he believes World War II was the last time the US had a "coherent, comprehensive" energy policy.
  • 02/28/2008 -- Mediterranean Oil & Gas buys JKX Italia
    Mediterranean Oil & Gas PLC has bought JKX Italia Ltd., a wholly owned subsidiary of JKX Oil & Gas PLC, for €2 million from existing cash reserves to build up its Italian acreage portfolio.
  • 02/29/2008 -- Continued near-term volatility likely; long-term oil price outlook is less certain
    Government economists and analysts generally agree that oil markets will remain volatile and prices will stay high for the next few months. They're less certain about what will happen beyond that period.
  • 02/29/2008 -- 'Another critical step in a series of concrete actions'
    House Speaker Nancy Pelosi (D-Calif.), Majority Leader Steny H. Hoyer (D-Md.) and Ways and Means Committee Chairman Charles B. Rangel(D-N.Y.) on the Renewable Energy and Energy Conservation Tax of 2008 (H.R. 5351), which will be voted on in the House next week.
  • 02/29/2008 -- Gaz de France production falls, E&P profits rise
    The E&P division of Gaz de France was a major contributor to the group's 2007 record profits, said Chairman and Chief Executive Jean-Francois Cirelli at the company's press conference Feb 27.
  • 02/29/2008 -- MARKET WATCH: Crude price rises as dollar falls
    Oil prices soared to new highs, touching $103.05/bbl in after-hours electronic exchanges in New York, as the US dollar plummeted to its lowest exchange rate against the euro since the currency began trading in January 1999.
  • 03/03/2008 -- Canbriam plans North American exploration
    Canbriam Energy Inc., Calgary, arranged $300 million (US) in financing to pursue acquisition, exploration, and development onshore in Canada and the US.
  • 03/03/2008 -- Horizon due stakes in Gulf of Thailand blocks
    Horizon Oil will pay 40% of the seismic and drilling costs of an initial work program to earn 20% participating interests in three Gulf of Thailand blocks under a farmout from Pearl Energy.
  • 03/03/2008 -- MARKET WATCH: Energy prices slip with economic uncertainties
    Front-month crude hit a new high of $103.05/bbl in overnight electronic trading on Feb. 29 before slipping below the previous session's record high closing, pulled down by the falling stock market.
  • 03/03/2008 -- Roxi Petroleum to acquire Kazakhstan assets
    Roxi Petroleum PLC has announced that it will buy a 59% stake in Eragon Petroleum PLC, which owns three exploration and development assets in western Kazakhstan.
  • 03/04/2008 -- European unbundling options mulled over at EU meeting
    At a meeting of European Union Energy Ministers in Brussels Feb. 28, the Slovene presidency accepted an unbundling option proposed by Germany, France, and six other EU members.
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