Dispute over postwar Iraq oil control getting nastier
The dispute over control of Iraq's postwar reconstruction—and by extension its oil wealth—has gotten nastier even as US-led coalition forces last week sought to wrap up the job of toppling Iraqi President Saddam Hussein's regime.
US Congress pushes through sweeping energy bill
The US Congress earlier this month moved on several fronts to bring together a sweeping energy bill that Republican leaders say President George W. Bush may sign before the summer driving season ends.
Analyst sees no meat in MMS proposal to expand offshore royalty relief
The US Minerals Management Service proposal to expand offshore royalty relief in an effort to increase deep natural gas production in the Gulf of Mexico is "all sizzle, no steak," said a financial analyst with Raymond James & Associates Inc. (RJA), St. Petersburg, Fla.
Some US states, especially in the Northeast and on the West Coast, are growing increasingly worried that current reformulated gasoline (RFG) rules will help drive retail prices to record highs before June.
OPEC to address falling oil prices at special meeting
The Organization of Petroleum Exporting Countries will discuss the recent drop in oil prices at an extraordinary meeting, tentatively slated for Apr. 24 in Vienna, OPEC Pres. Abdulla Bin Hamad al-Attiyah said last week.
MMS to fund study of currents in GOM off Mexico
The US Minerals Management Service late last month deployed a current meter mooring in Mexican waters of the Gulf of Mexico as part of a study by the Centro de Investigación Científica y de Educación Superior de Enseñada (CICESE), Baja California, Mexico.
Company News: Frontier Oil, Holly Corp. to merge in $450 million deal
Frontier Oil Corp., Houston, and Holly Corp., Dallas, have agreed to merge in a cash and stock deal valued at about $450 million.
Personnel and Promotions
BP PLC and Russian partners Alfa Group and Access-Renova (AAR) tentatively named an advisory board and senior executives to lead newly formed holding company TNK-BP following the company's anticipated formal establishment later this year.