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African deals may oust Westerners
If India, China, and other developing world oil giants (DWOGs)increase investments in African countries, it could have several negative repercussions for Western companies doing business in Africa:
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API: Higher prices in US reduced oil demand in 2005
A climb in crude oil prices that was already significant when Hurricanes Katrina and Rita hit the Gulf Coast reduced US oil product demand in 2005, the American Petroleum Institute reported on Jan 19.
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Company News: Cal Dive International to buy Remington Oil & Gas
Cal Dive International Inc., a Houston marine contractor with interests in oil and gas production, agreed to buy Remington Oil & Gas Corp.
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Editorial: Conflict of wishes
A conflict of wishes threatens to steer the US away from sound energy choices at a critical time.
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Debate intensifies over OCS Sale 181, other access issues
The debate over access to offshore US energy resources has intensified.
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Draft OCS leasing plan would expand accessible area
The US Minerals Management Service released a draft of a proposed 5-year Outer Continental Shelf oil and gas leasing plan on Feb. 8 that could expand accessible acreage.
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Gazprom executive outlines company’s plans for LNG
OAO Gazprom plans to become a major LNG supplier and is building its LNG expertise, particularly in North American markets, according to John Hattenberger, LNG director of Gazprom Marketing & Trading Ltd.
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Hurricanes worsen Louisiana’s sliding output
Damage from two hurricanes and a global shortage of overwater rigs led to unusually large declines in Louisiana’s oil and gas production in 2005, state figures show.
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Iran nuclear row to lift Latin American, African prospects
As the International Atomic Energy Agency (IAEA) Board voted Feb. 4 to refer Iran to the United Nations Security Council for pursuing a nuclear weapons program, a real possibility emerged that Iran may be sanctioned by the world community.
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Watching the World: Khodorkovsky fights back
Remember the former head of OAO Yukos, Mikhail Khodorkovsky, imprisoned in Russia’s YaG 14/10 prison camp at Krasnokamensk, Chita, near the border with China? Well, he’s fighting back against the regime that jailed him.
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Louisiana seeking increased share of OCS royalties
Louisiana Gov. Kathleen Babineaux Blanco has threatened to block oil and gas leases off Louisiana unless the state receives its “fair share” of oil and gas revenue from federal acreage to help with coastal management.
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Repsol YPF cuts oil, gas reserves estimate by 25%
Spain’s Repsol YPF SA has cut its estimate for proved oil and gas reserves by 1.254 billion boe, a 25% reduction from the yearend 2004 estimate it reported last year.
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Shell CEO says technology needed to meet fuel demand
The oil and gas industry must apply new technologies on unprecedented scale and pace to meet the world’s expanding demand for fossil fuels, said Jeroen van der Veer, chief executive of Royal Dutch Shell PLC, at the Cambridge Energy Research Associates annual energy conference in Houston.
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Watching Government: The difference a year makes
In February 2005, energy received a few paragraphs and a sidebar in the Economic Report of the President prepared by the Council of Economic Advisers.