PDVSA's crisis a tragedy for Venezuela
The crisis under way centering on the Venezuelan government's politicization of state-owned petroleum company Petroleos de Venezuela SA has all the makings of a national tragedy.
US's likely role in postwar Iraq oil sector hazy
The White House is still analyzing the role it would play in rebuilding the oil sector in a postconflict Iraq, according to government and industry sources.
IFP: Iraq not capable of boosting postwar output sharply soon
While Iraq's large proven oil reserves and its low production costs are an attraction for oil companies worldwide, the huge development costs required plus the country's transportation bottlenecks will prevent any substantial hike in oil exports in the near or even medium term, in the event of the successful outcome of a US-led war.
IP president outlines energy challenges
Predicting the availability of oil and natural gas for 20 years is "fraught with difficulties," leaving the worldwide oil and natural gas industry with huge challenges, said Pierre Jungels, president of the London-based Institute of Petroleum.
The Russian government is showing increasing confidence that it can rely on domestic oil companies to expand the country's role as a key world exporter. The most recent evidence of that came last month when Prime Minister Mikhail M. Kasyanov proposed that his country limit future production-sharing agreements and related tax guarantees with foreign investors to large, capital-intensive projects.
Operating BP Trinidad & Tobago a 'world-scale business'
Robert B. Riley, executive chairman and CEO of BP Trinidad & Tobago LLC (BPTT) is the first native Trinidadian to head a multinational oil company unit operating in the twin-island Caribbean nation since the parent company began operations there nearly 40 years ago.
Devon Energy Corp., Oklahoma City, and Ocean Energy Inc., Houston, reported Feb. 24 they will merge through a stock-swap deal valued at $5.3 billion, making Devon the largest US independent oil and natural gas company, with 650,000 boe/d of production and an enterprise value of $20 billion.
PERSONNEL MOVES AND PROMOTIONS
Apache Corp. has appointed
Floyd R. Price and Rodney J. Eichler as corporate executive vice-presidents and Jon A. Jeppesen as corporate senior vice-president.