SPECIAL REPORT: Alternative fuels gaining transport market share
With the petroleum industry under political pressure to market cleaner fuels and refineries operating near capacity rates in the face of rising demand, markets for conventional and alternative transportation fuels appear robust.
Canada removes tax advantages for income trusts
The Canadian government’s decision to remove tax advantages from companies doing business as income trusts will mean the end of the oil and gas trust structure in its current form, said a report by Wood Mackenzie Ltd., Edinburgh.
WATCHING THE WORLD: Wheat, chaff, and oil deals
Separating wheat from chaff is important in every business, the oil industry included.
Ecuador presidential election troubles oil sector
The Nov. 26 presidential election in Ecuador of leftist economist Rafael Correa in a landslide victory against right-wing tycoon Alvaro Noboa is sounding alarms in the international oil sector.
BLM inventory finds resources heavily restricted
Just 3% of federal onshore oil and 13% of onshore federal gas are currently available under standard lease terms, the US Bureau of Land Management said on Nov. 28.
Court order cancels Brazil’s eighth licensing round
A federal judge in Brasila issued an injunction Nov. 27 suspending Brazil’s eighth oil and gas licensing round.
COMPANY NEWS: Denbury Resources to acquire field for tertiary flood
Denbury Resources Inc. has signed an agreement with a Venoco Inc. subsidiary for an option to purchase Venoco’s interest in Hastings field, a potential tertiary flood property near Houston.
WATCHING GOVERNMENT: Acknowledging the endowment
It began when Steven G. Grape and John Wood, his supervisor in the US Energy Information Administration’s reserves and production division in the Office of Oil and Gas in Dallas, noticed two things.
PERSONNEL MOVES AND PROMOTIONS: Wood to head Murphy’s worldwide exploration
David Wood, in charge of international exploration and production for Murphy Oil Corp., El Dorado, Ark., will become executive vice-president with responsibility for worldwide E&P, effective Jan. 1, 2007.