With two Mexican presidential candidates at presstime last week declaring victory in a race that officials say is still too close to call, two analysts say neither outcome will have much effect on the oil and gas industry.
After declining earlier in the month, crude futures prices began to climb June 21 on the New York market, following a lower-than-expected build in commercial US crude inventories, and closed at a 7-week high just under $74/bbl June 30, the last trading session for that month.
The Japanese government is considering a plan to allow foreign-registered oil tankers and other energy transporter ships operated by Japanese firms to hoist the Japanese national flag as a way to protect them from pirates.
Anadarko Petroleum Corp., Houston, is offering subsidiary Anadarko Canada Corp. as its first asset sale to help raise $15 billion to reduce debt from its pending $21.1 billion cash purchase of Kerr-McGee Corp., Oklahoma City, and Western Gas Resources Inc., Denver (OGJ Online, June 23, 2006).
The government of Kazakhstan recognizes the need to develop policies and reforms that support sustainable growth and has sought to diversify the transport infrastructure of the country and the connectivity of the region.
Two types of contractual arrangements govern E&P activity in Kazakhstan: an excess profit tax (EPT) contract, also called a Model 1 tax regime, and production sharing contracts (PSC), or a Model 2 tax regime.