Expectations of sustained Russian oil production boom justified
In the aftermath of the Soviet Union’s collapse in 1991, oil productionthe great majority of which was Russia’snosedived, triggering the former Soviet Union’s "lost" decade of the 1990s.
UK hits offshore producers with supplemental tax
In a surprise move, UK tax officials applied the "stick" to offshore producers with an immediate new 10% supplemental tax on North Sea oil and gas profits, while hinting at a future "carrot" through possible abolishment of the 12.5% overriding royalty for older fields.
Watching Government: Chad’s promise
The Chad-Cameroon pipeline project won’t end the corruptive nature oil can have on a developing nation. But policy-makers from the world’s most developed nations are betting it’s a good step in the right direction.
Saudi, US officials affirm ties amid political tensions
Industry is hopeful a meeting between Saudi Crown Prince Abdullah and President George W. Bush-at presstime still scheduled last week at the president’s ranch in Crawford, Tex.-will help ease growing concerns that Middle East tensions will stifle investment in the kingdom.
Senate energy bill, sans ANWR, seen likely to pass
A key Senate Republican predicted Congress can work out its differences on pending comprehensive energy legislation and send a proposal to the White House this year.
Company News: Chinese, FSU firms in thick of acquisition deals
Acquisitions involving companies in communist or formerly communist countries dominate this week’s company news.
New York judge rules Enron-Dynegy lawsuit to be moved to Houston
Judge Arthur Gonzalez of the US Bankruptcy Court of the Southern District of New York has ruled that Enron Corp.’s $10 billion lawsuit against Dynegy Inc. will be moved to a Houston federal court, where Judge Melinda Harmon will preside.
Personnel Moves and Promotions: ConocoPhillips names additional members to senior management team
Conoco Inc. and Phillips Petroleum Co. have named additional members to the new ConocoPhillips senior management team formed earlier this year (OGJ, Mar. 4, 2002, p. 34).