Lehman Bros.: E&P spending to reach $261 billion in 2006
Spending for worldwide exploration and production is expected to increase 21.3% to $261 billion this year, up from the 14.7% projected last December for 308 companies surveyed by Lehman Bros. Inc., New York.
Increased governors’ role urged in refinery permitting
Federal refinery permitting legislation should increase the role of state governors, a US Senate Energy and Natural Resources Committee member said on July 13 during the committee’s hearing on a bill that has already passed the House.
Senate leadership reaches OCS legislation compromise
Nearly 2 weeks after the US House passed an Outer Continental Shelf leasing reform bill, Senate leaders announced they are ready to move ahead with their own legislation.
New Jersey senators to fight OCS leasing off state
Two days after US Senate Republican leaders announced an offshore leasing compromise for the Gulf Coast, New Jersey’s senators said they would fight any effort to extend it to the Outer Continental Shelf off their state (OGJ Online, July 13, 2006).
CMS Nomeco appeals to Congress after court loss
A producer that had its Congo (Brazzaville) production garnished by a US court to pay some of that nation’s creditors is taking its case to the US Congress and the administration of President George W. Bush (OGJ, Apr. 24, 2006, p. 26).
WATCHING THE WORLD: Prospects rise in Greenland
Market forces have everything to do with getting more oil out of the ground and getting it out more safely.
API: Consumers responding to higher gas prices
Consumers apparently reacted to higher prices as US gasoline demand during the second quarter dropped 0.4% to an average 9.2 million b/d, the American Petroleum Institute said July 19.
COMPANY NEWS: Santos to acquire Delhi ,increase Cooper basin stake
Santos Ltd. agreed to buy Delhi Petroleum Pty. Ltd. for $474 million (Aus.) in equity and debt. The acquisition is part of the Adelaide-based firm’s efforts to increase its stake in oil and gas fields in the Cooper basin.