OPEC should take long-term approach to balancing oil supply-demand equation
This article is adapted from the author's comments during a joint conference of CGES and Oil & Gas Journal on the oil price challenges of the next century, held Sept. 9-10, 1999, in Houston.
OPEC still seen as key to oil price management
The Organization of Petroleum Exporting Countries' successful efforts to rein in production are keeping oil prices at 2-year highs-and poised to go higher-but are also setting the stage for a recovery in non-OPEC oil supplies next year.
Kyoto pact deemed threat to U.S. economy-or boon to oil firms
The much-discussed U.S. federal budget surplus could be endangered by an economic slowdown stemming from efforts to comply with the Kyoto Protocol on climate change.
Elf Aquitaine submits to TotalFina takeover bid
France's warring major oil companies, Elf Aquitaine and TotalFina SA, made peace Sept. 13, following a 2-month mutual takeover battle.
Turkey suffered not only severe physical damage in the tremendous earthquake Aug. 17 but also subtle damage to its oil ambitions.
Elf Exploration Angola and partners made another oil discovery on Block 17 off Angola (see map, OGJ, June 7, 1999, p. 33). Orquidea 1, drilled to 2,500 m TD in 1,200 m of water about 200 km northwest of Luanda, cut 157 ft of oil-bearing sands.