The Oil Daily articles from February 2008

The Oil Daily archives from February 2008

Statoil, Total agree Venezuela compensation.(StatoilHydro)(Petroleos de Venezuela S.A.)
February 1, 2008... Venezuela has agreed to pay $1.1 billion to StatoilHydro and Total in compensation for last year's nationalization of part of their assets in the Sincor project that produces heavy crude from the Orinoco river belt, according to government...

Marathon profits dip in 'difficult' quarter.(Marathon Oil Corp.)(Financial report)
February 1, 2008... Marathon Oil is the latest oil company to report a hit on earnings as a result of the deteriorating downstream environment in the US. Chief Executive Clarence Cazalot acknowledged Thursday that it was a "difficult quarter" for the company,...

With economic outlook uncertain, Opec seen opting for status quo.(Organization of the Petroleum Exporting Countries)
February 1, 2008... Opec is not likely to either cut or raise production at its ministerial meeting today, the 13-member group's president said Thursday in a briefing with journalists. Opec President Chakib Khelil, who is also Algeria's energy minister, said...

Nymex crude falls, Brent extends premium as Opec gathers.(Organization of the Petroleum Exporting Countries)
February 1, 2008... Crude futures fell for the first time in a week on the eve of Opec's meeting in Vienna. Prices were weighed down early in the day by a surge in US jobless claims, but they later drew some support from a rally in the equities market. Nymex...

Daily oil & gas price review.(Statistical table)
February 1, 2008... Daily Oil & Gas Price Review Prices for Thursday, January 31, 2008 US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -0.62 85.87 85.86 94.94 LLS (St....

Tesoro posts Q4 loss as Moody's points out risks for refiners.(Tesoro Petroleum Corp.)
February 1, 2008... In a reflection of the recent downturn in the US downstream sector, independent refiner Tesoro on Thursday reported a net loss for the fourth quarter because of weak margins and an outage at its Hawaii refinery. The sharp rise in crude...

Latin American governments vulnerable to drop in crude prices.
February 1, 2008... Latin American governments have generally benefited from the bullish crude oil market through record taxes and royalties, but by the same token, they are vulnerable to a possible decline in oil prices that could result from deceleration in the...

Shell profits rise despite decrease in output and Nigeria charge.(Royal Dutch-Shell PLC)
February 1, 2008... Royal Dutch Shell said its oil and gas output fell 4.5% to 3.3 million barrels of oil equivalent per day last year--the fifth consecutive year of decline--and will continue to drop before rising 2%-3% per year from 2010. Announcing record...

Shell gives green light to Malaysia project.(Royal Dutch-Shell PLC)
February 1, 2008... Royal Dutch Shell has given the investment go-ahead for the deepwater Gumusut-Kakap oil and gas development, off the Malaysian state of Sabah. Operator Shell intends to employ the region's first deepwater semisubmersible production system,...

Mexico has small budget surplus.(Brief article)
February 1, 2008... Mexico's government achieved a small budget surplus in 2007 as tax collections rose but oil revenue fell from 2006 levels, the Finance Ministry said Wednesday. Government revenue rose 5.6% from 2006 to 2.486 trillion pesos ($229 billion), Dow...

North Sea fuels petrocan output.(Earnings)(Petro-Canada Inc.)(Brief article)
February 1, 2008... Petro-Canada said Thursday its fourth quarter production rose to 409,800 boe/d, compared to 368,200 boe/d in the same quarter of 2006, driven by the strength of its North Sea projects--Buzzard, De Ruyter, Block L5b-C in the Netherlands and...

EIA gas storage report.(Earnings)(Statistical data)
February 1, 2008... Gas in Storage Falls by 274 Bcf Stocks of working natural gas in US storage facilities fell by 274 Bcf in the week ending Jan. 25, leaving storage levels at 2,262 Bcf, according to the Energy Information Administration. Gas in storage is...

Murphy plans refinery work.(Earnings)(Murphy Oil Corp. financial news)(Financial report)(Brief article)
February 1, 2008... Murphy Oil said Thursday it is planning work on its 120,000 b/d refinery in Meraux, Louisiana, in 2008, including the addition of new tanks to replace those damaged during Hurricane Katrina in 2005. The company will also undertake several...

US scraps clean-coal plant.(Electricity)(Brief article)
February 1, 2008... Ballooning construction costs have prompted the US Energy Department to pull the plug on funding for a project to build the world's cleanest coal-burning power plant. Cost overruns had pushed the price tag up to $1.8 billion. In December a...

Stock market scorecard.(Electricity)(Statistical table)
February 1, 2008... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 1/31 Chg. % Chg. 10-Day 52-Wk YTD BP 63.95 +1.46 +2.34% -2.99% +1.78% -12.60% Eni ...

Whiting scores in Bakken play.(Exploration & Production)(Whiting Petroleum Corp.)(Brief article)
February 1, 2008... Whiting Petroleum said Thursday it completed the Liffrig 11-27H well, which flowed 2,247 b/d of oil and 1.7 MMcf/d of gas during a 24-hour test of the Middle Bakken formation in North Dakota. The well was drilled at a vertical depth of...

BP makes big Egypt gas find.(International)
February 1, 2008... BP said Thursday it made a significant gas discovery at record depths in Egypt's Nile Delta. The Satis find is in BP and Eni's North El Burg offshore concession, 50 km north of Egypt's Damietta port, where the two partners and state-owned...

Tullow sells out of Congo.(International)(Korea National Oil Corp.)(Brief article)
February 1, 2008... Tullow Oil will net $435 million from the all-cash sale of its stake in the M'Boundi oil field in Congo (Brazzaville) to Korea National Oil Corp. (KNOC) and will plow the proceeds into drilling campaigns in Ghana and Uganda and other endeavors....

Iraq could see income windfall.(International)(Brief article)
February 1, 2008... With oil prices rising well above the $57 per barrel that Baghdad has penciled in for its 2008 budget, the Iraqi government could well see an income windfall this year, according to the US Special Inspector General for Iraq Reconstruction. ...

Pemex raises investment.(Latin America)(Petroleos Mexicanos)(Brief article)
February 1, 2008... The Mexican government plans to raise Pemex's investment budget to an average of $22 billion a year from 2009 through 2012, nearly double average expenditures for the past five years. In a presentation published on the state oil company's...

ICE revenues surge.(Oil & Gas Markets)(IntercontinentalExchange Inc.)(Financial report)(Brief article)
February 1, 2008... Atlanta-based Intercontinental Exchange (ICE), the global derivatives exchange and over-the-counter market, has announced a 67% rise in fourth-quarter revenues to $159.3 million. Full-year revenues for 2007 were up 83% to $574.3 million. ...

Shell performs maintenance.(Refining)(Royal Dutch-Shell PLC)(Brief article)
February 1, 2008... Royal Dutch Shell said Thursday it expects a drop in throughput at its refineries in the first quarter as planned maintenance is undertaken. "Q1 is our heaviest turnaround period of the year, and we have planned outages at Deer Park...

Weak reserve replacement plagues Chevron.
February 4, 2008... Chevron failed to replace reserves in 2007 for a fourth straight year, raising concerns on Wall Street that the US major's upstream strategy may be faltering. Chevron said Friday it anticipates reserve replacement for 2007 will come in at...

Opec keeps output steady, watches economy.(Organization of the Petroleum Exporting Countries)
February 4, 2008... Opec did what everybody expected Friday and agreed to keep its current production agreement in effect at least until its next scheduled meeting on Mar. 5. However, the 13-nation organization also expressed concern about significant...

Exxon achieves record profits, seeks to counter criticism.(Exxon Mobil Corp.)(Financial report)
February 4, 2008... Exxon Mobil has beaten a record it held for two years, reporting a fourth-quarter profit of $11.7 billion which surpasses the $10.7 billion the company earned two years ago. Exxon's profit in the just-ended quarter is not only a record for...

Crude ends week by falling nearly $3 on bearish economic news.
February 4, 2008... Crude futures hung around the $90 per barrel level for most of last week, as traders weighed a number of conflicting signals. On the bullish side, Opec did not increase production at its meeting in Vienna while recent cuts in US interest...

Daily oil & gas price review.(Statistical table)
February 4, 2008... Daily Oil & Gas Price Review Prices for Friday, February 1, 2008 US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -2.39 83.48 85.80 95.14 LLS (St. James)...

US spot crude differentials strengthen as Brent's premium over WTI widens.(West Texas Intermediate)
February 4, 2008... US sweet and sour differentials to the US benchmark firmed this week. Traders said much of the strength came from European benchmark Brent establishing a new premium over West Texas Intermediate (WTI). That premium makes foreign crudes, mainly...

Baker Hughes drilling report.(Statistical data)
February 4, 2008... Rig Count Rises by 16 The number of drilling rigs searching for oil and gas in the US rose by 16 last week to 1,763, Baker Hughes said Friday. During the same week last year, there were 1,714 rigs at work. The number of rigs searching...

Shell announces Vicksburg oil discovery in Eastern Gulf of Mexico.(Royal Dutch-Shell PLC)
February 4, 2008... Royal Dutch Shell announced a new oil discovery Friday at its Vicksburg prospect in the Eastern Gulf of Mexico, in what may be one of the biggest finds in the Gulf for some time. Vicksburg is located roughly 120 miles offshore Florida,...

Exceptionally warm February forecasts rattling gas market.
February 4, 2008... Even though February gas futures clung tightly to the $8 mark up until expiry, market bulls taking on long positions in March gas futures have a new reason for concern, as some meteorologists are looking for a significantly warmer February. ...

Portia oil discovery gives BP boost in ultra-deep Angola block.(Brief article)
February 4, 2008... A new discovery on Block 31 offshore Angola has added fresh momentum to the first development on the ultra-deepwater block, which operator BP hopes to sanction this year. The new discovery, named Portia, is the 15th drilled on the block by...

Japan reduces imports of crude as domestic demand declines.(Statistical table)
February 4, 2008... Japan, Asia's largest oil importer, bought 4.12 million barrels per day of crude oil in 2007, down 1.8% from the previous year, as domestic demand declined 4.2%. Domestic sales of kerosene fell most, by 12.4% to 397,000 b/d, because of a...

Chevron appraises Big Foot.(Exploration & Production)(Brief article)
February 4, 2008... Chevron said it completed a successful appraisal well at its Big Foot discovery in the deepwater Gulf of Mexico. The company said the well confirmed the same pay intervals of the previously announced discovery and sidetrack wells, and found...

BP makes North Sea find.(International)(Brief article)
February 4, 2008... BP and Marathon have found oil in Block 204/23 of the UK North Sea, the companies said Friday. BP, which has a 72% stake, and Marathon, with 28%, are evaluating the discovery's potential for a two well development in the block about 118...

ONGC eyes Canada oil sands.(International)(Oil and Natural Gas Corporation Ltd.)(Brief article)
February 4, 2008... Oil and Natural Gas Corp. (ONGC), India's top oil producer, views the acquisition of Canadian oil sands assets as a key objective, and is in talks with several companies about buying stakes for more than $1 billion, ONGC's chairman said...

CNPC drills more wells.(International)(China National Petroleum Corp.)(Brief article)
February 4, 2008... China National Petroleum Corp. (CNPC) said it plans to drill over 1,000 horizontal wells this year, an increase of 20% from 2007. The new focus is part of efforts to use better technology to enhance recovery at domestic fields. CNPC said...

BG inks Australian CBM deal.(International)(coalbed methane)(Brief article)
February 4, 2008... BG said Friday it has formed an alliance with Australian coalbed methane (CBM) player Queensland Gas that will see the UK firm spend [pounds sterling]299 million (US$595 million) on a 9.9% stake in Queensland Gas and a 20% interest in its CBM...

Stock market scorecard.(Statistical table)
February 4, 2008... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 2/1 Chg. % Chg. 10-Day 52-Wk YTD Slaloil 27.07 +0.79 +3.01% +5.04% +1.84% -11.30% Repsol YPF ...

Repsol contains Ecuador spill.(Latin America)(Repsol Exploracion S.A.)(Brief article)
February 4, 2008... Repsol said Thursday it contained a small crude spill in a block bordering Ecuador's largest rain forest park, which is inhabited by Indian tribes and rare animal species. Repsol spokesman Federico Cruz said the company had not determined...

PDV in Ecuador refinery deal.(Latin America)(Petroleos de Venezuela S.A.)(Brief article)
February 4, 2008... Ecuador and Venezuela have agreed to build a 300,000 b/d refinery in Ecuador, state oil company Petroecuador said on Friday. The $5 billion refinery is part of a deal under which Petroecuador and Petroleos de Venezuela (PDV) will develop an...

Questar expands in Louisiana.(Mergers & Acquisitions)(Brief article)
February 4, 2008... Questar has agreed to acquire two "significant" natural gas development properties in northwest Louisiana from unnamed sellers for $655 million. The properties are located in Red River and Bienville Parishes, approximately 10 miles...

Koreans buy US Gulf assets.(Mergers & Acquisitions)(Samsung Group)(Korea National Oil Corp.)(Taylor Energy Co.)(Brief article)
February 4, 2008... South Korea unveiled its second international upstream acquisition in as many days on Friday, with the energy ministry announcing that a consortium of Korea National Oil Corp. (KNOC) and conglomerate Samsung had picked up a block of offshore...

Pioneer drilling expands.(Oil Field Service)(Brief article)
February 4, 2008... Pioneer Drilling, which provides drilling services to energy companies, has agreed to buy certain oil and gas-related affiliates from Wedge Group for $303 million in cash to extend its customer base. The deal, expected to close before the...

Spectra holds open season.(Pipelines)(Spectra Energy)(Brief article)
February 4, 2008... Spectra Energy is holding a non-binding open season to gauge interest for a proposed expansion of its 1,400-mile East Tennessee Natural Gas pipeline system. The Greenway Project would move an additional 250,000 to 450,000 dekatherms of...

Correction.(Pipelines)(Correction notice)
February 4, 2008... The Feb.1 issue of Oil Daily incorrectly reported that Moody's predicts mid-cycle refining margins could fall over the next two years to levels below those seen in 2000 when margins averaged less than $3/bbl (OD Feb.1,p4). In fact Moody's...

Venezuela to hold Orinoco bidding round.(Petroleos de Venezuela S.A. contract with Total S.A.,)
February 5, 2008... Venezuela plans to hold a bidding round to invite private companies to develop the Carabobo I block in the oil rich Orinoco river belt where the government recently seized control of four projects, according to a statement released by Petroleos...

Shale play looms large in Newfield budget.
February 5, 2008... Newfield Exploration has unveiled a $1.6 billion capital investment program for 2008, weighted heavily toward the further development of its Woodford Shale holdings in southeastern Oklahoma. The Houston-based independent has allocated 40%...

Bush requests higher DOE budget to enhance energy security.
February 5, 2008... US Secretary of Energy Samuel Bodman on Monday announced a $25 billion budget for the Department of Energy (DOE) for fiscal year 2009, an increase of nearly $1.1 billion over the 2008 appropriation. Bodman said the budget request by...

Crude futures move back above $90 on various supply concerns.(Brief article)
February 5, 2008... US Crude futures moved back above $90 on Monday, bolstered by various pieces of supportive news at home and abroad. Nymex crude closed up $1.06 at $90.02 per barrel. Brent on ICE Futures firmed $1.03 to settle at $90.47. Prices were...

Daily oil & gas price review.(Statistical table)
February 5, 2008... Daily Oil & Gas Price Review Prices for Monday, February 4, 2008 US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +1.15 84.63 85.47 93.96 LLS (St. James)...

Kuwait may miss output target due to technology issues, politics.(Kuwait Petroleum Corp.)(Brief article)
February 5, 2008... Kuwait may miss its target of attaining crude oil capacity of 4 million barrels per day by 2020 because of technological and political constraints--but not for lack of trying, Kuwait Petroleum Corp.'s (KPC) top official, Saad al-Shuwaib, said...

Colombia projects oil self-sufficiency will last through 2015.
February 5, 2008... Colombia has extended its projection for oil self-sufficiency through 2015, Mines and Energy Minister Hernan Martinez Torres told the Colombia Oil and Gas Conference in Cartagena Monday. Colombian oil production reached 544,000 barrels per...

China ramps up refinery production to cope with harsh winter.
February 5, 2008... China is ramping up refinery runs to meet stronger demand for fuel ahead of the Lunar New Year holidays as the country continues to suffer from power cuts caused by the harshest winter weather in decades. The increase in domestic output should...

Russia's Gazprom Neft lays down rules for foreign partnerships.(OAO Gazprom)
February 5, 2008... Gazprom Neft, the oil unit of Russian gas giant Gazprom, says it will only bring foreign partners into projects if this allows it to gain access to new markets, infrastructure and technology, or if the projects require massive investment. ...

Teppco buys Marine assets.(Corporate News)(Cenac Towing Company Inc.)(Brief article)
February 5, 2008... Pipeline partnership Teppco said Monday it has acquired the marine transportation assets of Louisiana-based Cenac Towing and Cenac Offshore for $500 million. Teppco, through its Teppco Marine Services unit, bought 42 push boats and 89...

Denbury sees production growth.(Corporate News)(Denbury Resources Inc.,)(Brief article)
February 5, 2008... Denbury Resources said its total proved oil and natural gas reserves amounted to 194.7 MMboe as of Dec 31, 2007, adding that it expects overall growth of 21% in 2008 production, after adjusting for the October sale of its Louisiana natural gas...

Record reserves for Quicksilver.(Corporate News)(Brief article)
February 5, 2008... Oil and natural gas company Quicksilver Resources said Monday that it made record reserve additions of 608 Bcf of natural gas equivalent in 2007-replacing 780% of its total production for the year. Reserves as of Dec. 31 totaled 1.55 Tcf of...

Lukoil overseas output dips.(Corporate News)(Brief article)
February 5, 2008... Lukoil Overseas--'s international upstream subsidiary--said Monday that oil production dipped in 2007 to 104,000 b/d from 107,000 b/d in 2006, while gas output rose to 2.53 Bcm from 1.75 Bcm. The decline in oil output is explained by last...

Firms eye CO2 storage project.(Environment)(Brief article)
February 5, 2008... Enbridge is leading 19 energy firms in a project to develop carbon dioxide storage in Alberta, but growing emissions from oil sands plants will not initially be part of the study, an executive said on Monday. The group, which includes such...

Stock market scorecard.(Environment)(Statistical table)
February 5, 2008... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 2/4 Chg % Chg. 10-Day 52-Wk YTD Statoil 27.46 +0.39 +1.44% +3.39% +2.23% -10.03% Eni ...

Alaska stumbles coldly into 2008.(Exploration & Production)(Brief article)
February 5, 2008... Alaskan crude oil production averaged 743,200 b/d in January, according to data from the state's Department of Revenue Tax Division, a drop of 28,000 b/d from December and more than 67,000 b/d below January 2007. Despite very cold Alaskan...

Pioneer: Edwards Trend delivers.(Exploration & Production)(Brief article)
February 5, 2008... Pioneer Natural Resources said it saw a 38% increase in average daily gas production in 2007-mostly due to its drilling program in the Edwards Trend in South Texas, which averaged 54 MMcfe/d. The company drilled 34 wells in the trend during...

Russia offers four blocks.(International)(Brief article)
February 5, 2008... Rosnedra, Russia's subsoil agency, has announced plans for a May tender of four blocks in the northern Nenets region estimated to hold a combined 571 million bbl of Russian-classified C1 reserves--similar to proven, probable and possible...

Nigerian militants hit vessel.(International)(Brief article)
February 5, 2008... Nigerian gunmen early Sunday attacked a naval houseboat stationed near the Royal Dutch Shell-operated Tora manifold, which pumps oil to the Bonny export terminal in the Niger Delta, killing three soldiers. At least eight militants were also...

Chevron Indonesia output falls.(International)(Brief article)
February 5, 2008... Chevron's crude production in Indonesia is set to fall by 4.5% this year as supply drops in ageing fields in Sumatra, the head of the country's energy regulatory agency said on Monday. The US major is the top producer in the Southeast Asian...

Russian oil output falls.(International)(Brief article)
February 5, 2008... For the first time in several years, Russia has seen a year-on-year drop in crude and condensate production. According to preliminary Industry and Energy Ministry data issued Monday, output averaged 9.78 million b/d in January, down nearly...

Heating degree days.(International)(Statistical table)
February 5, 2008... Heating Degree Days For the week of Feb. 2, 2008 Week Dev Cum Dev From From From Week From Year Cum From...

Conoco bundles Alaska leases.(Legislation/Regulation)(ConocoPhillips)(Brief article)
February 5, 2008... The US Bureau of Land Management (BLM) said Friday it has approved a unit agreement for ConocoPhillips' Mooses Tooth prospect in the National Petroleum Reserve-Alaska. It was the first unit agreement ever issued to consolidate leases in...

Bush calls for Arctic drilling.(Legislation/Regulation)(Brief article)
February 5, 2008... The Bush administration on Monday again asked Congress to allow oil and natural gas drilling in Alaska's Arctic National Wildlife Refuge, saying $7 billion could be raised in leasing fees from energy companies. In its proposed budget for...

ICE buys OTC platform.(Oil & Gas Markets)(IntercontinentalExchage)(over-the-counter)(Brief article)
February 5, 2008... The IntercontinentalExchage (ICE) will buy start-up financial technology firm YellowJacket Software, the two companies announced. Formed in 2002, YellowJacket is an electronic trade negotiation platform used by over-the-counter (OTC) traders to...

Helix energy CEO resigns.(Personnel)(Chief Executive Officer resigned from Helix Energy Solutions)(Brief article)
February 5, 2008... Offshore energy company Helix Energy Solutions said Chief Executive Martin Ferron has resigned, effective Feb. 4. Owen Kratz, who currently serves as executive chairman and chairman of the board, will resume the role of chief executive,...

ACFY moves refinery site.(Refining)(Arizona Clean Fuels Yuma)(Brief article)
February 5, 2008... Arizona Clean Fuels Yuma (ACFY)--a firm that is trying to build the first new US refinery in more than 30 years--is moving the site of its oil refinery project three miles east of the current site in Yuma County, Arizona, the company said...

Global oil balances loosen up in January.
February 6, 2008... Global oil balances got considerably looser in January, consistent with easing oil prices, although some of the price weakness was clearly related to growing concerns about the fragility of US economic growth and the implications of a US...

Anadarko sniffs around nascent shale plays.(Anadarko Petroleum Corp.)(Financial report)
February 6, 2008... Anadarko Petroleum may not have a presence in the Barnett Shale in Texas or a foothold in the Fayetteville Shale of Arkansas, but management made it clear on Tuesday the company is making a concerted effort to establish itself on the ground...

BP plans to slash jobs after unveiling unsatisfactory results.
February 6, 2008... BP Chief Executive Tony Hayward announced plans Tuesday to slash 5,000 jobs by mid-2009 as the UK supermajor reported a set of fourth-quarter and full-year results that he said "weren't good enough." About 60% of the job cuts will be in...

Crude futures falter on fears of impending recession in US.(Brief article)
February 6, 2008... Crude futures slammed into reverse on Tuesday, giving up recent gains and falling back below $90 as recession fears reasserted their hold over market sentiment. A key report on the service sector was taken as another sign of an impending...

Daily oil & gas price review.(Statistical table)
February 6, 2008... Daily Oil & Gas Price Review Prices for Tuesday, February 5, 2008 US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -1.64 82.99 84.69 91.55 LLS (St. James)...

Energy traders see limited fallout from French bank's losses.
February 6, 2008... Rogue trades that have cost French bank Societe Generale $7.1 billion in losses on equity futures have tarnished its reputation as a solid financial institution, but have so far had only limited impact on the bank's sizeable energy trading...

Algeria looking for expertise, assets in upcoming bid round.
February 6, 2008... Algeria's upcoming bid round marks a change of course for the Opec producer. It is not only the money offered by companies that will count--but also what they bring to the table in terms of expertise or assets, Algerian Energy Minister Chakib...

Iraq prepares to receive bids in long-awaited licensing round.
February 6, 2008... Iraq plans to receive the first bids in its long-awaited upstream licensing round for undeveloped fields by the end of July or early August, Oil Minister Hussein al-Shahristani said (OD Jan.18,p1). Promising the tender will be "on a level...

Kuwait eyes gas production, LNG imports for power stations.(Liquefied natural gas)
February 6, 2008... Kuwait plans to produce its first nonassociated gas from northern fields in March at a rate of 175 million cubic feet per day and hopes to hike that to 1 billion cubic feet per day in the next seven or eight years, a Kuwaiti official said this...

CNOOC profit rises.(China National Offshore Oil Corp.)(Financial report)(Brief article)
February 6, 2008... China National Offshore Oil Corp. (CNOOC) said pretax profit totaled 56.5 billion yuan ($7.9 billion) last year, up 17% on 2006 (OD Jan.30,p7). President and Chief Executive Fu Chengyu revealed the figures at a company meeting. Total...

Cera: green investment to rise.(Alternatives)(Report)(Brief article)
February 6, 2008... Climate change worries, high oil and gas prices, government energy security policies and subsidies could help boost global investment in clean energy to $7 trillion by 2030, a report from Cambridge Energy Research Associates said Tuesday. ...