-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.
-- '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.
-- 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.
-- 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.
-- 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.
-- 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.
-- 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.