The Oil Daily articles from December 2006

The Oil Daily archives from December 2006

Opec already fretting over next year's Q2.(Organization of the Petroleum Exporting Countries)
December 1, 2006... Opec is worried about a glut of oil supply in the second quarter of next year, resulting in the "possibility" that it will take action with another round of production cuts at its meeting in two weeks in Abuja, Nigeria, according to the oil...

New players weigh value of Opec membership.(Organization of the Petroleum Exporting Countries)(Statistical data)
December 1, 2006... Angola's decision in support of joining Opec has raised a number of questions about the costs and benefits of membership in the world's premier oil producer organization. Uniform member contributions for 2006 were 1.9 million ($2.5...

Offshore drilling, royalty issues in play in waning days.
December 1, 2006... Offshore drilling and royalty relief issues are in play as lawmakers race to broker deals ahead of wrapping up legislative business in the 109th Congress. Drilling supporters claim that feverish attempts are being made to push legislation...

Crude hits 2-month high on weather forecast, stock data.(Brief article)
December 1, 2006... The crude rally that began early this week continued on Thursday as crude futures broke through a major psychological barrier and closed above $63 per barrel for the first time in two months, spurred by a cold spell expected this weekend. ...

Daily oil & gas price review.(Statistical table)
December 1, 2006... Prices for Thursday, November 30, 2006 [GRAPHIC OMITTED] US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +1.18 58.66 55.48 53.66...

Basrah terminal shutdown to hit Iraqi exports in December.
December 1, 2006... Iraqi oil officials have informed term customers and shipping agents to expect fewer liftings in December because the country's main export terminal in Basrah will be shut for at least four days for repairs, market and shipping sources told Oil...

Tougher corporate governance laws part of Enron's legacy.(gas companies rules)
December 1, 2006... Former Enron CEO Jeff Skilling is preparing to start a federal prison term of at least two decades later this month, probably still questioning what happened to the great concept that once was Enron and why the brilliant ideas the one-time...

Green groups fear Bush ready to lift drilling ban in Bristol Bay.(an on offshore oil and gas drilling)
December 1, 2006... Environmental groups are warning that the White House could remove a ban on offshore oil and gas drilling in Alaska's Bristol Bay as early as next week. David Gordon, executive director of Pacific Environment, said his group has heard from...

O'Malley's Petroplus completes successful Swiss IPO.(initial public offering)(Brief article)
December 1, 2006... Swiss-based refiner Petroplus raised up to 2.9 billion Swiss francs ($2.4 billion) in an initial public offering (IPO) on Zurich's SWX Swiss Exchange on Thursday, pricing its shares at 63 francs/share ($53). The proceeds will be used to pay...

McMoRan updates forecast.(Corporate News)(McMoran Exploration Co)(Brief article)
December 1, 2006... McMoRan Exploration Co. said on Thursday it expects a fourth-quarter average of 75 to 80 MMcfe/d of output from its share of joint ventures, including new production from additional wells. The oil and gas company said its Hurricane No. 3...

Tax credits for clean coal.(Environment)
December 1, 2006... Nine clean coal and advanced gasification projects in the United States will share $1 billion in tax credits in 2007, US Energy Secretary Samuel Bodman said Thursday. The bulk of those tax credits, $800 million, will go to supporting...

Murphy abandons Gulf well.(Exploration & Production)(Brief article)
December 1, 2006... Murphy Oil said Thursday it has temporarily plugged and abandoned the Thunder Ridge exploration well on Mississippi Canyon Block 737. The primary objectives found wet sands, with a secondary shallower objective encountering a small oil...

Kashagan costs face review.(International)(Brief article)
December 1, 2006... Kazakhstan plans to call in external auditors to assess rapidly rising development costs at the Eni-led Kashagan oilfield, the world's biggest oil discovery in 30 years, the oil minister said on Thursday. The Central Asian state's Energy and...

Stock Market Scorecard.(Statistical table)
December 1, 2006... Integrated Close 1-Day % Chg. Majors 11/30 Chg. % Chg. 10-Day 52-Wk YTD Chevron 72.32 +1.27 +1.79% +3.39% +26.48% +27.39% BG 67.51 +1.09 +1.64 +0.03...

Oxy fields helping Ecuador.(Latin America)(Occidental Petroleum Corp)(Brief article)
December 1, 2006... Ecuador earned $930.7 million in six months from the sale of oil extracted from fields formerly operated by Occidental Petroleum, according to Carlos Blum, the Petroecuador manager in charge of operating the fields. State-owned...

Statoil charters US Gulf rig.(Oil Field Service)(Brief article)
December 1, 2006... Norwegian oil producer Statoil said on Thursday it has chartered a drilling rig from a unit of Danish A.P. Moeller-Maersk for the Gulf of Mexico where it has amassed deepwater assets in past months. The charter with Maersk Contractors USA...

Kinder gets NEC approval.(Pipelines)(Kinder Morgan Inc)(Brief article)
December 1, 2006... Kinder Morgan Canada, a subsidiary of Kinder Morgan, Inc., announced Thursday that it has received approval from the National Energy Board (NEB) for a new fiveyear Incentive Toll Settlement that will govern the economic terms and service...

Pipe firms finish Jonah Loop.(Pipelines)(contracts)(Brief article)
December 1, 2006... Teppco Partners LP and Enterprise Product Partners LP have completed and begun operating a pipeline looping project, part of the Jonah Gas Gathering System in Wyoming. Teppco and Enterprise, through their Jonah Gas joint venture, said the...

Refinery expansion advances.(Refining)(Brief article)
December 1, 2006... Motiva Enterprises said Thursday it would move forward with the final design and engineering phase for a proposed 325,000 b/d capacity expansion project at its Port Arthur, Texas, refinery. The 325,000 b/d addition would increase the refinery's...

US officials urge Opec against more cuts.(Organization of the Petroleum Exporting Countries)
December 4, 2006... The US Energy Secretary on Friday urged Opec to keep the market well supplied, while the head of the Energy Information Administration (EIA) expressed concern that the producer group might prematurely make a second round of output cuts at its...

Lame duck House to take up offshore bill.
December 4, 2006... Republicans are set to use their last days in control of Congress to try to enact legislation expanding offshore drilling in the Gulf of Mexico. The House of Representatives Republican leadership on Friday slated a Tuesday vote on...

Oil equities surge in November, Hess steals show with gain.(securities)
December 4, 2006... The late November rise in oil prices lifted oil equities in the final week of the month, giving investors gains for the second month in a row. Hess was easily the top performer in November, with the New York-based integrated oil company's...

Crude market turns bullish on Opec cuts, approach of winter.(petroleum industry)
December 4, 2006... The crude futures market enjoyed a strong week and may have established what most bullish traders hope is a new floor above $60 per barrel. Having broken out of its trading range to a two-month high of more than $63/bbl last week, crude prices...

Daily oil & gas price review.(petroleum industry)(Table)
December 4, 2006... Prices for Friday, December 1, 2006 [GRAPHIC OMITTED] US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +0.63 59.29 57.18 53.74 LLS (St. James) +1.48...

December gas contract rolls off board after furious rally, but bears loom.(contracts)
December 4, 2006... Before rolling off the board last week, the December gas futures contract on the New York Mercantile Exchange (Nymex) mounted an impressive rally, with prices soaring at expiry amid a buying frenzy. But even while January gas continues holding...

US rig count rises by 20.(Baker Hughes Drilling Report)(Brief article)
December 4, 2006... The number of drilling rigs searching for oil and gas in the US rose by 20 to 1.717 last week, Baker Hughes said Wednesday. During the same week last year, there were 1,460 rigs at work. The number of rigs searching for oil in the US fell...

Former minister draws bleak future for Russian energy sector.
December 4, 2006... The Russian government's heavy hand in the country's oil and gas industry is stunting production growth, says a former energy minister for the Russian Federation. Vladimir Milov, deputy energy minister from May-October 2002, is currently...

Report highlights benefits to new upstream contracts in Venezuela.(Brief article)
December 4, 2006... Private firms forced to switch their service contracts to mixed companies with state owned Petroleos de Venezuela (PDV) this year may end up benefiting from the move after all. By 2009, output from the marginal fields now being developed by...

Marathon, EOG target northern plains' Bakken Shale oil play.(Marathon Oil Co, EOG Resources Inc)
December 4, 2006... Marathon Oil and EOG Resources updated analysts and investors last week on their recently launched operations in the booming Bakken Shale oil play in Montana and North Dakota. After assembling large acreage positions, both companies started...

US spot Crudes firm as demand picks up ahead of winter.
December 4, 2006... US spot crude differentials firmed last week on renewed buying interest by refiners ramping up runs to produce winter fuels. Oil market sentiment has shifted to bullish, although how long this will last is up for debate. Most analysts,...

Eni plays down Kashagan woes.(Top Briefs)(Brief article)
December 4, 2006... Eni Chief Executive Paolo Scaroni on Friday played down the severity of problems at Kazakhstan's giant Kashagan fields, following reports that the Kazakh government planned to call in external auditors to assess the project's rapidly rising...

Canadian gas storage.(Brief article)
December 4, 2006... The amount of natural gas in Canadian storage facilities fell 2.8 Bcf to 452.8 Bcf for the week ending Nov. 24. Storage caverns were 94.7% full, compared to 95.3% the previous week and 93.8% a year ago, according to Enerdata. (Bcf) ...

Tillerson gets big stock award.(Corporate News)(Rex Tillerson)(Brief article)
December 4, 2006... Exxon Mobil Chairman Rex Tillerson recently received restricted stock worth $14.2 million as the Texas oil company revels in quarterly operating profits nearly unmatched in US corporate history. Tillerson and other top executives received...

Pengrowth launches unit sale.(Finance)(Brief article)
December 4, 2006... Pengrowth Energy Trust said on Friday it will sell C$401 million (US$352.1 million) worth of units through a syndicate of underwriters led by RBC Capital Markets to help finance its purchase of oil and natural gas assets from ConocoPhillips....

Stock Market Scorecard.(Statistical table)
December 4, 2006... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 12/1 Chg. % Chg. 10-Day 52-Wk YTD Marathon 95.65 +1.27 +1.35% +10.11% +63.20% +56.88% Chevron 73.11...

Calvalley sees big Yemen reserves.(International)(Calvalley Petroleum Inc)(Brief article)
December 4, 2006... Canadian junior Calvalley may have upwards of 2 billion bbl of oil in place and 16 Bcf of gas in its Yemeni Block 9 concession, according to a resource assessment just completed by McDaniel & Associates Consultants, the company said in a news...

Ecopetrol appoints new CEO.(Latin America)
December 4, 2006... The board of Colombia's state-owned Ecopetrol, as expected, appointed Javier Gutierrez as its new chief executive, the company said in a statement. His first task will be to oversee the partial sell off of the company to the local stock market....

Markey opts out of chair battle.(legislation/regulation)
December 4, 2006... Rep. Ed Markey (D-Mass.) last week put to rest speculation of a likely conflict with Rep. Nick Rahall (D-W.Va.) over taking the gavel of the House of Representatives Resources Committee in the new Democratic-controlled Congress. Markey's...

Conoco mulls refinery expansion.(Refining)(Brief article)
December 4, 2006... Oil major ConocoPhillips is studying an expansion of its Billings, Montana, refinery as well as an overhaul of the plant to allow it to process more heavy crude oil from Canada, The Billings Gazette reported Friday. ConocoPhillips Chief...

BP shuffles Alaska execs.(Personnel)(British Petroleum Company PLC)(Brief article)
December 4, 2006... Oil major BP has shuffled the management ranks at its troubled Alaska unit again, transferring the top manager for the Prudhoe Bay oil field just a month after announcing the head of its Alaska business was being reassigned, the Anchorage Daily...

Conoco works on mideast refinery details.(ConocoPhillips)
December 5, 2006... ConocoPhillips' final investment decision to go ahead with the construction of grassroots refineries in Saudi Arabia and the United Arab Emirates will depend on costs and negotiations on availability of feedstock on a long-term basis, Conoco...

Analysts ponder oil impact of Chavez win.
December 5, 2006... Venezuelan President Hugo Chavez won re-election by a huge margin Sunday and promised to continue expanding his socialist agenda, which for foreign oil companies could mean the implementation of more stringent investment terms. However, some...

Exxon turns green face to the public in ad campaign.
December 5, 2006... After years of a very low public profile on issues such as greenhouse gas emissions, cleaner fuels, recycling and other environmental matters, Exxon Mobil suddenly seems to have turned a green face to the public. In a series of television...

Crude drops as concerns about warm winter weigh.(Brief article)
December 5, 2006... The light, sweet crude oil January contract on the New York Mercantile Exchange (Nymex) lost 99cent to close at $62.44 per barrel on Monday in at times very thin and choppy trading, as the market did not overcome overnight fears of lower oil...

Daily oil & gas price review: prices for Monday, December 4, 2006.(Statistical table)
December 5, 2006... Crude Oil [GRAPHIC OMITTED] US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -1.18 58.11 57.83 52.97 LLS (St. James) -1.73 65.71 65.48 ...

Mali does best to attract investors to upstream oil sector.
December 5, 2006... Does the African country Mali have the potential to be a new oil and gas hot spot? The answer is unclear, but several international oil companies have started looking for oil and gas there in recent years. Like other African countries...

Heating degree days: for the week of Dec. 2, 2006.(Statistical table)
December 5, 2006... Week Dev Cum Dev From From From Week From Year Cum From Norm Year State/City (PADD) Total Norm Ago Total...

Data shows lower US demand.(Brief article)
December 5, 2006... US oil demand in September was 214,000 barrels per day lower than initially thought, while oil inventories were 10 million barrels higher, data from the Energy Information Administration (EIA) shows. The EIA's Petroleum Supply Monthly, an...

Barton skeptical Democrats can advance climate change bill.
December 5, 2006... A key Republican on Monday was skeptical of a Democratic-controlled Congress enacting climate change legislation despite the increasing attention and momentum given to the issue. Dismissing conventional wisdom that there could be...

Colombia plans exploration tender for Caribbean coast.
December 5, 2006... Eager to revive declining crude production, Colombia is planning to tender up to 27 exploration blocks in the country's northern Caribbean coast by September 2007, according to Energy Minister Hernan Martinez. The frontier area to be...

Firm plans algae biodiesel plant.(Brief article)
December 5, 2006... Phoenix-based PetroSun said it will start field testing the cultivation of algae for biodiesel production at a site in Arizona during the first quarter of 2007. After the field trials, PetroSun's Algae BioFuels subsidiary plans to build a...

Ecuador mulls field Options.(Top Briefs)(Petroleos del Ecuador)(Brief article)
December 5, 2006... Ecuador is considering hiring a private administrator to run the oil fields once operated by Occidental, the head of the state oil company said on Monday. A temporary unit of Petroecuador currently operates the former Oxy fields which were...

Tillerson gets 17% pay raise.(Corporate News)
December 5, 2006... Exxon Mobil Chairman and CEO Rex Tillerson will receive a $2.8 million bonus for 2006 and a 17% salary hike to $1.75 million for 2007. The compensation package, listed in a filing by the world's largest publicly traded energy company to the...

Colorado firm inks biogas deal.(Environment)(Lower Colorado River Authority)(Brief article)
December 5, 2006... The Lower Colorado River Authority (LCRA) and Microgy on Monday signed an agreement for the purchase of all renewable natural gas (RNG) generated from Microgy's Huckabay Ridge facility in Stephenville, Texas, for an 18-month period. The...

Seadrill wins Exxon contract.(Exploration & Production)
December 5, 2006... Norwegian oil services firm Seadrill said on Monday it has won an $82 million preliminary contract for a new jack-up rig from Exxon Mobil and Production Malaysia. The letter of intent was signed for the West Prospero jack-up drilling rig,...

Alaskan recovery derailed.(Exploration & Production)(Brief article)
December 5, 2006... Alaskan crude oil production averaged 683,800 b/d in November, down 63,150 b/d from October's output, according to data from the state Department of Revenue Tax Division. The recovery from corrosion problems uncovered in August and flood...

Dolphin gas on track.(International)(Dolphin Energy Ltd)(Brief article)
December 5, 2006... The Dolphin project--the $3.5 billion scheme to import natural gas from Qatar to the United Arab Emirates and later to Oman--has completed all the infrastructure construction work except for the gas processing plant, according to the head of...

Ecopetrol, Petrobras team up.(Latin America)(Empresa Colombiana de Petroleos S.A.)(contracts)(Brief article)
December 5, 2006... Brazil's state-controlled Petrobras and Colombia's state-owned Ecopetrol on Monday announced plans to jointly develop the Tibu field in Colombia's North Santander department, a guerrilla stronghold that borders Venezuela. In a press...

Congress seeks pipe law.(Legislation/Regulation)(Brief article)
December 5, 2006... The Senate and House of Representatives are working to evolve a consensus on a pipeline safety bill that can be passed this week. Rep. Joe Barton (R-Texas), outgoing chairman of the House Energy and Commerce Committee, told reporters Monday...

Ex KBR employee sentenced.(Litigation)(Brief article)
December 5, 2006... A former employee of KBR, the Pentagon's largest private contractor in Iraq, was sentenced to a year in prison by a federal judge late last week for taking kickbacks from a Saudi company to which he awarded dining subcontracts in Iraq. US...

Infinity sells two divisions.(Mergers & Acquisitions)(Infinity Energy Resources)(Brief article)
December 5, 2006... Without releasing financial details, Denver-based Infinity Energy Resources on Monday said it is selling two of its business divisions to a privately-held company, which it also did not name. A company spokesman said money from the sale of...

ICE sets new records.(Oil & Gas Markets)(Intercontinental Exchange )(Brief article)
December 5, 2006... The Intercontinental Exchange (ICE) said Monday that November's average daily volume at its ICE Futures arm in London was almost double that of November 2005. Daily volumes for ICE Futures averaged 451,676 contracts in November, an...

ICA Fluor wins Pemex deal.(Oil Field Service)(ICA Fluor Daniel)(Petroleos Mexicanos)(Brief article)
December 5, 2006... ICA Fluor, the industrial engineering company jointly owned by Fluor Corp. and Empresas ICA, on Monday announced a US$90 million contract for modular construction of offshore living quarters for Mexico's state-owned Pemex. The quarters can...

El Paso starts Northeast pipes.(pipelines)
December 5, 2006... El Paso said Monday its Tennessee Gas Pipeline unit placed into service two natural gas pipeline extensions in the New York-New Jersey area to serve growing energy demand in the US Northeast. The Northeast ConneXion NY/NJ Expansion project,...

Stock market scorecard.(Statistical table)
December 5, 2006... Integrated Close 1-Day % Chg. Majors 12/4 Chg. % Chg. 10-Day 52-Wk YTD Repsol YPF 36.28 +0.36 +1.00% +3.24% +22.90% +23.36% Petro-Canada 45.18 +0.37 +0.83 +2.61...

Republicans pull drilling bill, weigh options.(offshore drilling bill from united States house)
December 6, 2006... In an eleventh hour decision to save face, the Republican-controlled House of Representatives on Tuesday pulled an offshore drilling bill from facing a vote after it became increasingly clear that it was headed for a certain defeat. The...

EIA: biofuels use to increase, but oil still king.(Energy Information Administration)(Statistical data)
December 6, 2006... With the price for petroleum products projected to remain above historical levels for the next couple of decades, the demand for unconventional fuels is expected to grow and the US will continue to become more energy efficient, according to the...

Lehman economist: oil market taking breather, predicts price hike.(oil and gasoline prices)
December 6, 2006... The oil market is taking a temporary breather from an inevitable rise in prices, but the rest may not last for more than a month, predicts Edward L. Morse, chief energy economist for Lehman Brothers. By January, the price could be as much as $8...

Petrobras shuffles execs.(Petroleo Brasileiro S.A.)(Brief article)
December 6, 2006... Brazil's state-run oil firm Petrobras announced late last week a reorganization of its leading international executives effective Jan. 1, 2007. Alberto Guimaraes, currently the general manager of Petrobras' Argentine unit, Petrobras...

Crude trades sideways on Opec words and weather concerns.(Organization of the Petroleum Exporting Countries)(Brief article)(Statistical data)
December 6, 2006... A lack of winter weather in much of the Northern Hemisphere and Opec signaling that it will cut more output when it meets on Dec. 14 remained the key drivers of the crude market, keeping Tuesday's oil futures in a holding pattern as oil closed...

Daily oil & gas price review: prices for Tuesday, December 5, 2006.(Statistical table)
December 6, 2006... Crude Oil [GRAPHIC OMITTED] US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -0.06 58.05 58.32 54.25 LLS (St. James) -0.36 65.35 65.89 ...

Ecopetrol seeks to expand production of Colombia's heavy oil.
December 6, 2006... Colombia's state-owned Ecopetrol plans to significantly grow its heavy oil production to around 200,000 barrels per day over the next five years, the company's acting President Mauricio Salgar told reporters on the sidelines of an industry...

House to consider compromise bill on pipeline safety.
December 6, 2006... The US House of Representatives is expected to vote Wednesday on pipeline safety legislation that would expand federal oversight of low-pressure oil pipelines to include the type involved in the partial shutdown of Alaska's Prudhoe Bay oil...

Petrobras wins approval to use FPSO in deepwater Gulf.(floating production, storage and offloading vessel)(Petroleo Brasileiro S.A.)
December 6, 2006... The US Minerals Management Service has given the green light to Petrobras' plan to develop two big Gulf of Mexico fields using a floating production, storage and offloading vessel (FPSO), a Petrobras executive said Tuesday. Renato Bertani,...

US refining margins decline.(Brief article)(Statistical data)
December 6, 2006... US refining margins fell in all regions last week, most notably the Midwest, according to analysts at AG Edwards. As a composite, US margins were down $1.76 to average $10.23/bbl. In the Midwest, margins dropped by more than $3 to $9.34/bbl....

Execs blame policymakers' short-term thinking for reserves crunch.(executives)(Survey)
December 6, 2006... Short-term thinking by government policymakers is the oil and gas industry's biggest obstacle toward locating and developing secure, reliable and affordable energy, a survey of more than 100 US oil and gas industry leaders conducted by...

Unicorp starts Louisiana drilling.(exploration and Production of petroleum)(Brief article)
December 6, 2006... Houston-based Unicorp has commenced drilling at its Melville Prospect in St. Landry Parish, Louisiana. Unicorp Chief Financial Officer Arthur Ley said the Melville Prospect will be drilled to about 8,000 feet to test the Nodosaria oil sand. ...

Hydro makes Newfoundland find.(Exploration & Production)(Norsk Hydro ASA)(Brief article)
December 6, 2006... Norwegian oil company Norsk Hydro said Tuesday that it has discovered hydrocarbons during delineation drilling in the Jeanne d'Arc Basin, offshore Newfoundland and Labrador, in partnership with Canada's Husky Energy. The company said the...

Hess starts Thai gas Field.(Hess corporation)(Natural gas fields)(Brief article)
December 6, 2006... Hess announced Tuesday that natural gas production commenced on Nov. 30 from the Phu Horm Field, located in northeast Thailand. Gross natural gas production is approximately 60 MMcf/d from two wells. Production is expected to increase to a...

Exxon to shed UK assets.(International)(Exxon Mobil Corp.)(Brief article)
December 6, 2006... US supermajor Exxon Mobil is pruning a number of North Sea assets from its portfolio, but still plans to retain a large presence in the region, the company said Tuesday. In a statement, Exxon confirmed plans to sell shares in its affiliate...

Exxon moves into Philippines.(Exxon Mobil Corp.)(Mitra Energy)(Brief article)
December 6, 2006... Exxon Mobil has agreed to farm in to an offshore block, SC-56, located in the western Philippines' Sandakan Basin, Malaysia-based independent Mitra Energy and Exxon said separate statements Tuesday. The US major will hold a 50% operating...

Woodside drills in Kenya.(International)(Woodside Petroleum Ltd.)(Brief article)
December 6, 2006... A consortium led by Australia's Woodside Petroleum has started drilling exploration wells off the Kenyan coast, state-run National Oil Corporation of Kenya (Nock) said in a statement. The drilling off the coast of Lamu is the first oil...

Russia takes aim at industry.(International)(Brief article)
December 6, 2006... Russian prosecutors continue to consider criminal action against those responsible for violating environmental legislation at the Royal Dutch Shell-led Sakhalin-2 project, General Prosecutor Yuri Chaika said Tuesday. "We are talking about...

Ecuador signs transport deal.(Latin America)(petroleum pipelines usage)(Petroleos del Ecuador)(Brief article)
December 6, 2006... Ecuador's state-owned oil company Petroecuador on Monday signed a contract with the OCP heavy crude pipeline to transport crude from three fields seized earlier this year from Occidental Petroleum. In a statement, Petroecuador said the...