The Oil Daily articles from February 2006

The Oil Daily archives from February 2006

Opec holds steady, sees strong supply growth.(Organization of the Petroleum Exporting Countries)
February 1, 2006... Opec confirmed Tuesday it would keep oil output steady to feed a growing world economy, even though it believes markets are well supplied and stock levels comfortable. Amid near record prices and heightened geopolitical tensions over Iran,...

Valero: no end in sight for refining boom.
February 1, 2006... It comes as no surprise that Valero, the US' leading independent refiner with 3.3 million barrels per day of capacity, reported record earnings for the tenth straight quarter on Tuesday. The high-margin environment led to not only another...

Colombia approves new E&P contracts with foreign firms.(National Hydrocarbon Agency)
February 1, 2006... Colombia's National Hydrocarbon Agency (ANH) has approved eight new exploration and production contracts as well as five preliminary contracts worth a total of $38 million. Australian mining and energy company BHP Billiton secured two...

Nymex crude slips as Opec agrees to keep oil flowing.(New York Mercantile Exchange)(Brief article)
February 1, 2006... Crude oil futures slipped on Tuesday on easing concerns about supply after Opec ministers agreed to maintain full output and traders figured that Iranian oil exports would probably continue flowing for another month (see p1). On the New...

Daily oil & gas price review: prices for Tuesday, January 31, 2005.(Table)
February 1, 2006... Crude Oil [GRAPHIC OMITTED] US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -0.84 59.19 59.45 55.86 LLS (St. James) -0.79 68.09 ...

Putin spells out vision of future for Russian oil industry.
February 1, 2006... Russia's President Vladimir Putin on Tuesday outlined his vision of the future for the country's oil and gas industry, saying that state-owned Rosneft should follow Gazprom in becoming an international major. At the same time, private oil...

Nigeria restores more output.(Edmund Daukoru)(Brief article)
February 1, 2006... Nigerian oil production that was closed in by militant attacks should be restarted by the end of February, Minister of State for Petroleum Edmund Daukoru said on Tuesday. "By the middle of February all of the volume that was down should be...

TransCanada secures deals for keystone crude line to US Midwest.
February 1, 2006... TransCanada Corp. has secured adequate firm, long-term contracts for capacity in its proposed Keystone Oil Pipeline project and will proceed with regulatory filings for the US$2.1 billion project that will transport crude and synthetic oil from...

Calls for Windfall profits tax.(Exxon Mobil Corp.)(Brief article)
February 1, 2006... Two senior Senate Democrats are renewing their call for imposing a windfall profits tax on major oil companies in the wake of Exxon Mobil's record US corporate profit of $36.13 billion last year (OD Jan.31,p1). But a non-partisan tax research...

Cooper Cameron profits up.(Brief article)
February 1, 2006... Oil equipment provider Cooper Cameron on Tuesday reported a higher profit for the December quarter on continued strong demand, but the valve maker also said it would accelerate merger integration and recognize the related expenses this year....

US utilities report results.(Cinergy)(Duke Energy)(Brief article)
February 1, 2006... Diversified utility Cinergy reported higher fourth-quarter earnings Tuesday and said it expects Duke Energy's acquisition of Cinergy to be complete by mid-year. Fourth-quarter margins tied to power and gas trading activities, among other...

Horizon work advances.(Canadian Natural Resources Ltd.)(Brief article)
February 1, 2006... Canadian Natural Resources said work on Phase 1 of its Horizon oil sands project moved ahead of schedule during the fourth quarter of 2005 as unseasonably warm and dry weather offset the effects of heavy rainfall during the summer months. As of...

Stock market scorecard.(Petroleum industry)(Table)
February 1, 2006... Stock Market Scorecard Close 1-Day Integrated Majors 1/31 Chg. % Chg. Repsol YPF 27.21 +0.52 +1.95% Norsk Hydro 123.22 +1.38 +1.13 Eni 60.65 +0.64...

Mozambique gets bids.(International)(Brief article)
February 1, 2006... Seven companies are in the race for oil prospecting rights in northern Mozambique's offshore Rovuma basin, an industry official said on Tuesday. The government opened international bidding for five areas in the Rovuma Bloc in July 2005 and...

Iraq names acting oil minister.(Hashem al-Hashemi)(Brief article)
February 1, 2006... Iraq's former minister of tourism, Hashem al-Hashemi, has taken over officially as the country's acting oil minister following the acceptance of Ibrahim Bahr al-Uloum's resignation. "Two days ago I received a letter from Prime Minister Ibrahim...

PDV tanker runs aground.(Petroleos de Venezuela S.A.)(Brief article)
February 1, 2006... Venezuelan state oil firm Petroleos de Venezuela (PDV) said on Monday engineers were working to free an oil tanker carrying one million bbl of crude after it ran aground heading to the Hovensa refinery in St. Croix. The Kim Jacob, carrying...

Pemex exports set record.(Petroleos Mexicanos)(Brief article)
February 1, 2006... Mexico's state owned oil company, Pemex, said Tuesday that high oil prices boosted revenues for from its exports to record levels in 2005. In a statement Pemex said it shipped out $31.66 billion in petroleum services and imported about...

NPRA defends oil mergers.(National Petrochemical and Refiners Association)(Bob Slaughter)(Brief article)
February 1, 2006... National Petrochemical and Refiners Association President Bob Slaughter on Tuesday sought to dispel the view that oil industry consolidation was responsible for high gasoline prices. The US refining industry is highly competitive and, while...

Chevron defends Gorgon.(Natural Gas)(Brief article)
February 1, 2006... Chevron has been awarded rights to explore in Block W05-16 in the Carnarvon Basin offshore Western Australia, the company announced Tuesday. The block is immediately adjacent to the Io-Janz and Gorgon discoveries. Chevron is the operator of the...

ICE to start WTI trade Friday.(IntercontinentalExchange)(West Texas Intermediate )(Brief article)
February 1, 2006... The IntercontinentalExchange (ICE), an electronic energy marketplace based in Atlanta, Georgia, said on Tuesday that it plans for its regulated futures subsidiary, ICE Futures, to launch its West Texas Intermediate (WTI) crude futures contract...

US economy more resilient.(Oil & Gas Markets)(Brief article)
February 1, 2006... A report by the US Congress Joint Economic Committee says the US economy can withstand energy price shocks now much better than 25 years ago because it has become more energy efficient, less energy intensive and more resilient. However,...

Statoil Mulls Irish retail sale.(Mergers & Acquisitions)(Brief article)
February 1, 2006... Norwegian Statoil said Tuesday that it has initiated a process to evaluate the possible sale of its Irish retail and commercial and industrial business--Statoil Ireland--as a result of a wider review of its retail business portfolio. ...

Critics bash Bush vow to steer US from oil.
February 2, 2006... President Bush is pledging to break the United States' "addiction" to oil by setting a goal of replacing more than 75% of the nation's oil imports from the Middle East through alternative fuels and new technologies. Oil industry and market...

Petro-Canada seals Syria deal, despite US.(Al-Furat Petroleum Co.)
February 2, 2006... Petro-Canada late Tuesday announced the conclusion of its sale of a 17% stake in Syria's Al-Furat Petroleum Co. (AFPC) to a joint venture of China National Petroleum Corp. (CNPC) and India's state-owned Oil and Natural Gas Corp. (ONGC). ...

Nymex Crude, products plunge on rising inventories.
February 2, 2006... Crude and product futures succumbed to bearish fundamentals on Wednesday, with crude losing more than $1 on the New York Mercantile Exchange (Nymex) after a volatile and confused session. Analysts said speculators and technical traders took...

Daily oil & gas price review: prices for Wednesday, February 1, 2006.(Statistical data)
February 2, 2006... Crude Oil [GRAPHIC OMITTED] US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -1.50 57.69 59.34 57.67 LLS (St. James) -1.25 66.84...

EIA weekly statistics: for week ended Jan. 27, 2006.(Statistical data)
February 2, 2006... US Crude Oil: Stocks (1) (millions of bbl) Current Previous Week Week Chg. PADD 1 13.9 14.5 -4.1% PADD 2 68.9 68.5 0.6% Cushing, OK ...

Summit allows US oil execs to hear about Cuba's upstream potential.
February 2, 2006... US oil executives and government representatives will meet with Cuban officials today to get a firsthand idea of the oil and gas potential of that country's offshore, in spite of a 45-year old US embargo that prohibits US trade with the...

Senate examines oil mergers' impact on high gasoline prices.
February 2, 2006... With commodity prices soaring and oil companies announcing enormous fourth-quarter earnings recently, Congress is getting deeper into the debate over Big Oil's staggering financial performance. The Senate Judiciary Committee held a hearing on...

Strong crude prices, impressive earnings lift oil shares in January.
February 2, 2006... Oil equities soared in 2005, leaving investors to wonder how much strength remains in oil company shares in 2006. Based on the January share price performance of the integrated oils, it is looking like shares have higher to go before leveling...

Devon drills high-impact well in Canadian Arctic Waters.(Devon Energy Corp.)
February 2, 2006... Devon Energy is currently drilling a high-impact exploration well in the shallow waters of the Beaufort Sea in Arctic Canada, the first to be drilled in the area for 15 years. Devon is targeting the Paktoa prospect which has a resource...

Basic acquires LeBus.(Basic Energy Services Inc., LeBus Oil Field Service )(Brief article)
February 2, 2006... Basic Energy Services in Midland, Texas, announced Wednesday it has acquired the capital stock of LeBus Oil Field Service for $26 million. A spokesman for Basic Energy said LeBus, which generated about $21 million in revenue in 2005, has a...

XTO plans big push to develop Permian Basin oil assets.(XTO Energy Inc.)
February 2, 2006... XTO Energy, chiefly known as a natural gas producer, sees plenty of scope for expanding reserves and production from its Permian Basin oil operations in West Texas in the coming years. The Fort Worth, Texas-based independent added...

Petrobras takes provision.(Top Briefs)(Petrobras Energia S.A.)(Brief article)
February 2, 2006... Argentina's Petrobras Energia said on Wednesday it will take 420 million pesos, or $137 million, in loss provisions in its 2005 results due to changes in the terms of its operations in Venezuela. The company is negotiating with the leftist...

Comstock reserves expand.(Corporate News)(Comstock Resources Inc.)(Brief article)
February 2, 2006... Comstock Resources announced Wednesday that its total onshore proved oil and natural gas reserves as of Dec. 31, 2005 were 505 Bcfe, up from 446 Bcfe a year earlier. Natural gas reserves account for 86% of total onshore proved reserves and 59%...

Duke earnings up in '05.(Duke Energy Corp.)(Brief article)
February 2, 2006... Two years after Duke Energy brought back Paul Anderson as chairman and chief executive, the integrated electric utility and gas pipeline company has essentially completed the aggressive restructuring and turnaround Anderson was retained to...

Alvheim work updated.(Exploration & Production)(Brief article)
February 2, 2006... US Marathon Oil said Wednesday that the floating production, storage and offloading (FPSO) vessel for its Norwegian Alvheim development had set sail from its Singapore shipyard for Norway, where it will undergo $350 million in topside work. ...

Stock market scorecard.(petroleum)(Statistical data)
February 2, 2006... Stock Market Scorecard Close 1-Day Integrated Majors 2/1 Chg. % Chg. Petro-Canada 48.40 +0.47 +0.98% ConocoPhillips 64.42 -0.28 -0.43 Norsk Hydro 122.52 -0.70...

World Bank, Chad talk oil.(International)(Brief article)
February 2, 2006... Talks between Chad and the World Bank to try to resolve a dispute over an oil project led by Exxon Mobil in the southern Doba Basin extended to a third day on Wednesday. Chevron and Malaysia's Petronas also have stakes in the $3.7 billion...

Argentina blocks offered.(Latin America)(Brief article)
February 2, 2006... Spain's Repsol-YPF and local independent Oil M&S were bidders in the first oil and gas lease sale offered by the western province of San Juan in Argentina, government officials said Tuesday. The bids were for four blocks--Jachal, Mogna,...

Delta buys into Utah field.(Mergers & Acquisitions)(Brief article)
February 2, 2006... Delta Petroleum said on Wednesday it has acquired a 65% working interest in an 88,000-acre oil field in Utah for $24 million and 637,000 shares of stock. The Denver-based oil and gas company bought the stake in the field from Armstrong Oil...

Technip completes sales.(Technip S.A.)(Brief article)
February 2, 2006... French oil and gas contractor Technip announced the completion Wednesday of two transactions under its strategy of selling noncore assets. An earlier deal between Technip and Gulf Island Fabrication (GIF) took effect Feb. 1, giving the...

Rowan gets rig deals.(Rowan Companies Inc.)(Brief article)
February 2, 2006... Drilling rig operator Rowan Cos. on Wednesday said two of its rigs have been awarded new drilling contracts that will generate total revenue of about $121 million. Rowan said its Gorilla VI rig is committed through November 2006 to drill...

Shell's record year fails to impress.(earnings of Royal Dutch-Shell Group of Cos.)
February 3, 2006... Royal Dutch Shell on Thursday unveiled a record annual profit for a UK-listed firm of $22.9 billion, but still found itself in a lose-lose situation: The earnings were big enough to anger consumer groups, but not large enough to please the...

ICE turns up heat with WTI launch.(West Texas Intermediate, IntercontinentalExchange Inc.)
February 3, 2006... Competition between the world's top two energy exchanges will intensify today, as the IntercontinentalExchange (ICE) launches its new West Texas Intermediate (WTI) crude futures on its London-based ICE Futures exchange--directly challenging the...

Venezuela demands 50% of revenue from private ventures.
February 3, 2006... Venezuela will impose a minimum 50% royalty and tax rate on private operators that were recently forced to switch their service contracts to joint ventures with state owned Petroleos de Venezuela (PDV), according to an official with the...

Crude futures fall almost $2 as supply worries ease.(Brief article)
February 3, 2006... The crude futures market is starting to align itself with bearish fundamentals after three weeks of incessant rallies fueled by events in Iran and Nigeria. Traders have recently been looking at supply data and are not find them...

Daily oil & gas price review: prices for Thursday, February 2, 2006.(Statistical data)
February 3, 2006... Crude Oil [GRAPHIC OMITTED] US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -1.03 56.66 58.88 58.41 LLS (St. James) -1.42 65.42 ...

Despite calls from hawks, punitive actions on Iran on hold for now.
February 3, 2006... Despite security hawks in the US calling for tough actions to thwart Iran from securing nuclear weapons, the Bush administration's emphasis on diplomacy and securing a consensus among the international community is dimming the prospects for...

Portillo joins Kerr-McGee.(Michael Portillo)(Brief article)
February 3, 2006... Michael Portillo, a former UK Cabinet minister, has been elected to US Kerr-McGee's board of directors. Portillo, who worked as a Kerr-McGee adviser from 1981-83, has more than 30 years' experience as a politician and energy adviser. ...

Tesoro earnings fall short; Sunoco feels bank's downgrade.(Tesoro Petroleum Corp.)
February 3, 2006... Not every refiner is posting better-than-expected fourth-quarter earnings. On Thursday San Antonio-based Tesoro reported strong profits, but they came in below analysts' forecasts due to higher costs. The company's operating income grew sharply...

Murphy takes beating after announcing dry holes offshore Malaysia.(Murphy Oil Corp.)
February 3, 2006... Shares of Murphy Oil were hammered Thursday following the release of a fourth-quarter earnings announcement that disappointed several Wall Street analysts. The integrated oils analysts for Bear Stearns and Friedman Billings Ramsey downgraded...

Marathon takes over Ireland's Seven Heads gas field in Ramco deal.(Seven Heads, Marathon Ashland Petroleum L.L.C., Ramco Energy PLC)
February 3, 2006... UK independent Ramco Energy has finalized the sale of its 86.5% interest in Ireland's Seven Heads gas project to US Marathon for 5.7 million [pounds sterling] ($10.1 million) in cash, Ramco said Thursday. Negotiations, led by Ernst & Young,...

Enbridge Q4 profits rise despite storms.
February 3, 2006... Enbridge, Canada's second largest pipeline group, ended the year on a strong note, though the impact of Hurricanes Katrina and Rita on its Enbridge Energy Partners affiliate in 2005 and sale of a Canadian gas utility in 2004 affected full-year...

Gazprom comments fuel speculation of bid for UK Centrica.(OAO Gazprom)
February 3, 2006... Leading UK energy supplier Centrica on Thursday saw its market value jump 11%, or $2 billion, after Russian gas giant Gazprom stoked speculation of a takeover bid. The value rose from 9.8 billion [pounds sterling] ($17.4 billion) to 10.9...

EOG pleased with results of first West Texas Shale well.(EOG Resources Inc.)
February 3, 2006... EOG Resources plans a big ramp-up in its Barnett Shale drilling program in North Texas and has announced promising results from its first well in an emerging West Texas shale play. Chief Executive Mark Papa said on Thursday that EOG is...

Marathon ups Capex 13%.(Top Briefs)(capital and exploration)(Brief article)
February 3, 2006... Marathon Oil has set its 2006 capital and exploration budget at $3.4 billion, a 13% rise from 2005 spending of $3 billion. The 2006 budget excludes payments totaling $732 million associated with Marathon's re-entry into Libya. Marathon's...

Gas in storage falls 88 Bcf.(EIA Gas Storage Report)(Brief article)
February 3, 2006... Stocks of working natural gas in US storage facilities fell 88 Bcf for the week ended Jan. 27, leaving storage levels at 2,406 Bcf, according to the Energy Information Administration (EIA). Stocks are 296 Bcf higher than last year at this...

Working gas in storage.(EIA Gas Storage Report)(Brief article)(Statistical data)
February 3, 2006... Working Gas in Storage (in Bcf for week ended Jan. 27) Region 1/27 1/20 2005 E. Consuming 1,349 1,404 1,174 W. Consuming 335 351 280 Producing 722 739 655 Total 2,406...

El Paso makes moves.(Corporate News)(Brief article)
February 3, 2006... El Paso has begun service from the recently completed Elba II expansion project at its Elba Island liquefied natural gas (LNG) receiving terminal near Savannah, Georgia. The $157 million Elba II expansion adds 3.3 Bcfe of storage capacity and...

Range reveals budget.(Corporate News)(Range Resources Corp.)(Brief article)
February 3, 2006... Range Resources released a very healthy report on its 2005 operations and unveiled a $429 million capital spending plan for 2006 on Thursday. The Fort Worth-based company reported that it achieved a 98% success rate in its 2005 drilling...

Stock market scorecard.(NEWS ALERT)(Statistical data)
February 3, 2006... Stock Market Scorecard Close 1-Day Integrated Majors 2/2 Chg. % Chg. BG 57.74 +1.40 +2.48% Petro-Canada 49.28 +0.88 +1.82 Exxon Mobil 61.95 0.00 ...

Apache sees higher output.(Earnings)(Brief article)
February 3, 2006... Apache Corp. expects to bounce back with production growth of 6% to 10% in 2006 after Gulf of Mexico hurricanes held it to a 1.4% volume gain in 2005 and pushed fourth-quarter volumes below year-earlier levels. Apache reported...

Imperial Oil's profit jumps.(Earnings)(Imperial Oil Company Inc.)(Brief article)
February 3, 2006... Calgary-based Imperial Oil's fourth-quarter profit nearly doubled on surging oil and gas prices, strong refining returns and a gain from asset sales. In the quarter, Imperial, an affiliate of Exxon Mobil, earned C$1 billion (US$873 million), or...

Shell to focus on biofuels.(Royal Dutch-Shell Group of Cos.)(Brief article)
February 3, 2006... Royal Dutch Shell said Thursday it will focus more on biofuels for transportation and make at least one renewable fuel a key Shell business. Shell has spent more than $1 billion on alternative energies, and Chief Executive Jeroen van der Veer...

Tanker spills in Alaska.(Environment)(Brief article)
February 3, 2006... An oil tanker with 360,000 bbl capacity was struck by an ice floe and ran aground while loading oil products at an Alaska refinery on Thursday, causing a spill, a state official and the refining company said. "At this time we do not have...

Ethanol opinions sought.(Environment)(Brief article)
February 3, 2006... Two senior Senators on Thursday wrote to six leading oil companies--Exxon Mobil, ConocoPhillips, BP America, Shell Oil Company, Citgo Petroleum, and Chevron--expressing their desire to work with the companies to make renewable fuels available...

Enargas upbeat on mega pipe.(Latin America)(Brief article)
February 3, 2006... A recently proposed $15 billion Venezuela-Brazil-Argentina pipeline could come on line as soon as December 2011, according to the head of Argentina's national natural gas regulator, Enargas. Argentine energy planners met with peers from...

Brazil mulls ethanol pipe.(Latin America)(Petroleo Brasileiro S.A.)(Brief article)
February 3, 2006... Brazil's state-run oil company Petrobras is studying plans to build a $226 million ethanol pipeline linking new production areas in central Goias state to a refinery in Sao Paulo. Petrobras Chief Executive Sergio Gabrielli and Goias state...

MBF files suit against ICE.(Litigation)(IntercontinentalExchange Inc., New York Mercantile Exchange, MBF Clearing Corp.)(Brief article)
February 3, 2006... New York Mercantile Exchange (Nymex) clearing firm, MBF Clearing Corp., slapped Nymex rival IntercontinentalExchange Inc. (ICE) with a blistering antitrust lawsuit Thursday, alleging attempts by ICE to monopolize the booming global energy...

Todco reactivates rig.(Oil Field Service)(Brief article)
February 3, 2006... US driller Todco on Thursday announced the reactivation of a cold-stacked drilling rig against a term contract from an independent oil and gas company. THE 256, a 250 foot mat slot jackup rig, will be reactivated against a one-year term...

Horizon gets Pemex contract.(Oil Field Service)(Brief article)
February 3, 2006... Horizon Offshore announced Thursday it has added to its backlog of projects after being awarded a contract from Mexican state oil company Pemex for a pipeline project in the Bay of Campeche. Horizon Offshore President and Chief Executive...

Kinder Morgan upgrades line.(Pipelines)(Brief article)
February 3, 2006... Kinder Morgan Energy Partners, LP (KMP) said on Thursday that it plans to invest almost $10 million in new construction and upgrades at two terminals on its 550-mile CALNEV Pipeline system, which starts at Colton, California. This project...

As ICE launches WTI, Nymex fights back.(New York Mercantile Exchange)(IntercontinentalExchange)
February 6, 2006... The IntercontinentalExchange (ICE) on Friday successfully launched its futures contract for West Texas Intermediate (WTI) on its London-based platform, ICE Futures. But the event drew a sharp rejoinder from its bigger rival, the New York...

Senate tries to craft climate change plan.
February 6, 2006... A Senate panel is exploring ways to design a program to curb carbon dioxide and other greenhouse gas emissions that could provide the framework for climate change legislation. In a run-up to crafting legislation, Sens. Pete Domenici...

Blast of arctic air to chill February; gas bears on defensive.
February 6, 2006... Badly burned by waffling forecasts over the last 6 weeks, including the call for a very cold January, wary energy traders seemed hesitant last week to jump in front of predictions for a frigid February. But with most big-name meteorologists...

Late rally lifts Nymex crude despite weak fundamentals.(New York Mercantile Exchange)
February 6, 2006... A number of events last week set a bearish tone for the crude market that could last for a while unless a fresh round of bullish geopolitical issues crop up. However, after a volatile session on Friday, crude futures rallied at the last minute...

Daily oil & gas price review: prices for Friday, February 3, 2006.
February 6, 2006... Crude Oil [GRAPHIC OMITTED] US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) 0.00 56.66 58.05 57.72 LLS (St. James) 0.34 65.76 ...

Sours get slammed in US physical market on flood of Canadian imports, turnarounds.
February 6, 2006... The US spot crude market is responding to bearish fundamentals. Grade differentials are getting weaker as Canadian imports continue to pour in unabated and refineries reduce runs for spring maintenance. This is in stark contrast to the New York...

US rig count rises by 26.(Statistical data)
February 6, 2006... The number of rigs searching for oil and gas in the US rose by 26 to 1,513 last week, oil services firm Baker Hughes said Friday. During the same week last year, there were 1,248 rigs at work. The number of rigs searching for oil in the US...

More Venezuela writedowns.(Securities and Exchange Commission)(Brief article)
February 6, 2006... BP, Total, Chevron and other major oil companies will have to cut their oil reserves booked with the US Securities and Exchange Commission because of changes in Venezuela's petroleum laws, the Financial Times reported, quoting oil minister...

Chad wants new pipe deal.(Exxon Mobil)(Brief article)
February 6, 2006... Chad is receiving too small a share of oil revenue from a 1988 agreement signed with a consortium led by US supermajor Exxon Mobil and wants to renegotiate the deal, President Idriss Deby said. "Chad only gets 12.5% of royalties from the...

Canadian gas storage.(Brief article)(Statistical data)
February 6, 2006... Canadian Gas Storage Enerdata reported that the amount of natural gas in Canadian storage facilities fell 12.7 Bcf to 332.6 Bcf for the week ended Jan. 27. Storage caverns are 62.4% full, down from 64.8% the previous week but up from...

Suncor ups oil sands output.(Suncor Energy Inc.)(Brief article)
February 6, 2006... Suncor Energy produced an average 269,000 b/d of upgraded crude oil at its up-grader near Fort McMurray, Alberta, during January, the company said Friday. This puts the company on target to attain its goal of averaging 260,000 b/d for the year....