Europe, Asia pace modest gains in Global Energy Investment index
The first quarter 2000 performance of the 20 countries in the Global Energy Investment (GEI) index maintained the slow growth pace of the index in the third and fourth quarters of 1999.
Richardson calls for improvement in oil data
US Energy Sec. Bill Richardson has called for an improvement in oil supply and demand data gathering as a means to bolster oil market stability.
Watching Government: Gas outlook
Industry spokesmen are trying to remain optimistic, but the US appears headed for tighter natural gas supplies and much higher prices this winter.
FTC Midwest gasoline price probe to last another 3-4 months
The US Federal Trade Commission's investigation into recent US Midwest gasoline price increases will continue another 3-4 months.
Andersen: Upstream spending to improve into 2001
Spending for oil and gas exploration and production should improve through the last half of this year and into 2001-after plummeting 22% to $62 billion worldwide in 1999, including a 29% drop in US upstream spending to $25 billion-Arthur Andersen reported in its annual global E&P trends report.
US independents pace strong reserve replacement rate
Independent US oil and gas companies replaced a robust 256% of total oil and gas production in 1999-the highest reserve replacement figure recorded in the past 5 years-compared with 113% by major oil companies, says Salomon Smith Barney Inc.
Petrobras to undertake ADR offering, swap assets
In recent months, Brazilian state oil firm Petroleo Brasileiro SA has made several strategic moves while forming several key international alliances to ensure a strong foothold in the worldwide oil and gas market.
Personnel Moves and Promotions: Petrobras to undertake ADR offering, swap assets
Apache Corp., Houston, has named Mike Harris worldwide director of drilling for the company's exploration and production technology group.
Russian oil firm privatization push proceeds amid takeover battles
The Russian Ministry of Property Relations has submitted draft resolutions to the government on the sale of 19.68% of the shares in the Slavneft oil company and 85% of Onako in what could herald a new phase in the carve-up of the Russian oil industry (OGJ, July 3, 2000, p. 30).
Watching the World: UK offshore gloom
As the UK offshore industry struggled to emerge from last year's economic slump, dubiously hopeful headlines began to recur in the trade press. The promise of a "Third Age" for the province had the ring of a sector trying to convince itself of the idea that the future wasn't as bleak as it seemed.