The Oil Daily articles from January 2004

The Oil Daily archives from January 2004

Pentagon Unit Takes Over Iraqi Fuel Imports.(Defense Energy Support Center)
January 5, 2004... WASHINGTON -- A US military fuel procurement agency will soon begin importing and distributing refined oil products to Iraq, effectively ending a controversial deal with oil service giant Halliburton that came under widespread criticism for...

LatAm State Oil Sector Loosens Grip in 2004.
January 5, 2004... NEW YORK -- This time last year, Venezuela was at a standstill. Pemex had embarked on its sixty-fifth year as sole upstream producer in Mexico. Petrobras produced 100% of Brazil's oil. And Bolivia was frontrunner to supply liquefied natural gas...

Supply Crunch Looms for Premium Gasoline.
January 5, 2004... NEW YORK -- Traders say that the well-prepared switch from methyl tertiary butyl ether (MTBE) to ethanol as a gasoline additive, taking effect on Jan. 1 in New York, Connecticut and California, is going smoothly for now, but they fear that...

Crude Oil Futures Average Record $31 Per Barrel in 2003.
January 5, 2004... NEW YORK -- Front-month crude oil futures on the New York Mercantile Exchange (Nymex) traded in 2003 at an average $31 per barrel, $4.85 above the previous year, and the highest average price in 20 years -- reflecting a year of geopolitical...

Iraq Exports Maintained, Despite Weather Delays.
January 5, 2004... NEW YORK -- Affected by end of the month weather delays, oil exports from the Basrah Oil Terminal in the Mideast Gulf edged up only to 1.58 million barrels per day for the month of December from November's record level of 1.57 million b/d. A...

BP Joins Push to Explore Gulf of Mexico's Alaminos Canyon.
January 5, 2004... HOUSTON --- BP has joined the push to explore the remote Alaminos Canyon area of the deepwater Gulf of Mexico where its supermajor rival Royal Dutch/Shell made what is believed to be a major discovery in 2002. In a recent filing with the...

Forecast for Cold Likely to Send Natural Gas Prices Higher.
January 5, 2004... WASHINGTON -- More price spikes appear in store for the natural gas markets should forecasts for frigid cold through the first ten days of the new year prove accurate. After exceptional -- and often bewildering -- upward price volatility...

EIA Gas Storage Report.(Brief Article)
January 5, 2004... Gas Storage Falls 80 Bcf Stocks of working natural gas in US storage facilities fell 80 Bcf for the week ended Dec. 26, leaving storage levels at 2,619 Bcf, according to the Energy Information Administration (EIA). The injection left...

EIA Weekly Statistics.(Illustration)
January 5, 2004... Department of Energy Weekly Statistics For Week Ended December 26, 2003 Crude Oil: StocksCrude Oil: Production and Imports (millions of bbl)(Average, thousands of bbl) Domestic Current Previous ...

Daily Oil & Gas Price Review.(Illustration)
January 5, 2004... Daily Oil & Gas Price Review Prices for Wednesday, December 31, 2003 Light Sweet Futures -- Prompt Month ($/barrel) 1st 5-Day 2nd 3rd Chg Month Avg....

Stock Market Scorecard.(Illustration)
January 5, 2004... Stock Market Scorecard Close 1-Day. % Chg. Dec 31 Chg. % Chg. 10-Day 52-Wk YTD Integrated Majors Total 92.38 +1.38 ...

Valero Best Energy Employer.(Brief Article)
January 5, 2004... Valero Energy is one of the best companies in the world to work for, according to a new survey carried out by Fortune magazine. Valero finished 32nd in the magazine's annual "100 Best Companies to Work For" survey, up from 70th place in...

Murphy Warns of Lower Q4.(Brief Article)
January 5, 2004... Murphy Oil on Tuesday warned of lower fourth-quarter earnings, hurt by dry hole charges and a loss in its refining business. The company forecast fourth-quarter profit of 55cents/share to 60cents, before items, compared with an average...

Tri-Valley Drills Gas Prospect.(Brief Article)
January 5, 2004... Tri-Valley began drilling its Elk Ridge natural gas prospect 40 miles west of Bakersfield, California, it said Wednesday. Company officials have estimated a target potential of 25 Bcf for the exploratory test well and discovery success of that...

Pemex Tightens Belt in 2004.(Brief Article)
January 5, 2004... Mexico's Congress on Tuesday passed its $147 billion 2004 budget, sharply cutting Pemex's operating budget and slightly reducing Pemex's Pidiregas allocations for multi- year projects. The reductions mean that Pemex will rely even more on debt...

AEP Asks Court for More Time.(American Electric Power Co.)(Brief Article)
January 5, 2004... American Electric Power Co. asked a US District Court for anther week to respond to Commodity Futures Trading Commission (CFTC) charges that the company reported false data on natural gas trading to trade publications, an AEP spokesman said...

Transocean Buys Deepwater Stake.(from ConocoPhillips)(Brief Article)
January 5, 2004... Transocean said Wednesday that it bought ConocoPhillips' 50% interest in the joint venture Deepwater Drilling, which owns the drillship Deepwater Pathfinder. Transocean already owned the other 50% interest in the joint venture company....

Valero Buys Logistics Assets.(Valero Energy buys MTBE plant, natural gas liquid storage facility from Link Energy)(Brief Article)
January 5, 2004... Valero Energy said Wednesday it completed the purchase of Link Energy's natural gas liquid (NGL) storage facilities in Mont Belvieu and its idled methyl tertiary butyl ether (MTBE) plant assets located near the Houston Ship Channel at Morgan's...

Enbridge Closes $247M Purchase.(Enbridge Energy Partners acquires North Texas System assets)(Brief Article)
January 5, 2004... Enbridge Energy Partners on Wednesday closed its $247 million purchase of the North Texas System, previously announced on Nov. 19. The asset purchase bolsters the partnership's portfolio of gathering and processing systems with access to long...

Opec Members In No Hurry to Cool Price Rally.
January 6, 2004... WASHINGTON -- Convinced that the current stubbornly high oil price is not the result of a supply shortage, Opec ministers will not rush to release more oil onto the market even though the group's reference basket of crudes is trading well above...

Oil Shares Close 2003 On Hot Streak.
January 6, 2004... WASHINGTON -- Shares of leading worldwide oil and gas companies closed 2003 on a torrid run, with most posting monster double-digit gains in December, allowing the sector to significantly narrow the full-year performance gap versus a resurgent...

Iraq Tenders More Work for Oil Facilities.
January 6, 2004... LONDON -- Iraq's oil ministry has tendered two upstream oil development projects in northern Iraq, which would add at least 160,000 barrels per day of crude production capacity, and a gas project in the south, with bid deadlines scheduled...

Cold, Economic Outlook Boost Oil, Natural Gas Prices.(Brief Article)
January 6, 2004... NEW YORK -- The first day of 2004 trading on the New York Mercantile Exchange (Nymex) started with a bang on expectations that demand will skyrocket because of a cold spell and economic indicators confirming a US recovery. Light, sweet crude...

Are Rising US Strategic Oil Stocks to Blame for Higher Prices?
January 6, 2004... NEW YORK -- The US government's insistence to continue adding 100,000 barrels per day of crude oil to its Strategic Petroleum Reserve (SPR) -- while commercial stocks are below historic averages and the crude market is tight -- is drawing heavy...

Threats Prompt Brief Close of Valdez Oil Port.(Brief Article)
January 6, 2004... NEW YORK -- Three oil tankers were ordered away from the Valdez oil terminal last week, apparently in response to a credible threat that one or more of them might be targets of a terrorist attack around the New Year's holiday. The port was...

Alberta Regulators Back Oil Sands, Support Gas Well Shutdowns.
January 6, 2004... HOUSTON -- A long battle between Alberta's natural gas producers and oil sands developers looks to be nearing an end, with regulators expected to hold a series of public meetings over the next few months to determine the fate of hundreds of...

Washington Forges Closer Ties With Angola Through Trade Deal.
January 6, 2004... JOHANNESBURG -- President Bush has granted Angola improved trading status, a sign of the growing importance Washington and oil majors Exxon Mobil and ChevronTexaco give to the African country's oil potential. Bush has made Angola eligible...

Alberta's Oil Sands Key to Industry's Future.
January 6, 2004... FORT MCMURRAY, ALBERTA -- Vast forests of what could be giant Christmas trees line the banks of the frozen Athabasca River in the rolling terrain of northern Alberta. The trees provide shelter for the abundant wildlife in the region. They also...

Investors Approve of Sinopec's Northwest Assets Purchase.
January 6, 2004... WASHINGTON -- A foray into China's northwestern oil market via the purchase of two significant refinery assets won China Petroleum and Chemical Corp. (Sinopec) the number one spot on John S. Herold's weekly list of top performing energy...

Heating Degree Days.(for week of January 3, 2004)(Illustration)
January 6, 2004... Heating Degree Days Week Dev Cum Dev For week of From From From January 3, 2004 Week From Year...

Daily Oil & Gas Price Review.(Illustration)
January 6, 2004... Daily Oil & Gas Price Review Prices for Monday, January 5, 2004 Light Sweet Futures -- Prompt Month ($/barrel) 1st 5-Day 2nd 3rd Chg Month Avg. ...

Stock Market Scorecard.(Illustration)
January 6, 2004... Stock Market Scorecard Close 1-Day. % Chg. Jan 05 Chg. % Chg. 10-Day 52-Wk YTD Integrated Majors Amerada Hess 55.08 +2.30 ...

PG&E to Pay $83M to Execs.(Pacific Gas and Electric Co.)(Brief Article)
January 6, 2004... PG&E, whose two biggest business units were forced to seek federal bankruptcy protection, will issue more than $83 million in payments to 17 top executives, a company spokesman said on Friday. The cash payments, linked to "performance...

Another EPA Official Quits.(top enforcement official J.P. Suarez announces resignation)(Brief Article)
January 6, 2004... J.P. Suarez, the Environmental Protection Agency's (EPA) top enforcement official, announced Monday that he was quitting office, marking the latest among top-ranking officials to leave the agency. A political appointee, Suarez's...

Shell Boosts Output at Princess.(Brief Article)
January 6, 2004... Royal Dutch/Shell has boosted output from its Princess oil and gas field in the Mississippi Canyon area of the Gulf of Mexico by bringing the first of three subsea wells on line. Princess began producing in late 2002 from the A-10 well...

Saudis Lift Light Prices to US.(Brief Article)
January 6, 2004... Expecting a further tightening of the lighter end of the US market, Saudi Arabia increased its February formula price for Arab Light and Arab Extra Light to the US by 20cents and 50cents, respectively, but lowered its price for Arab Heavy and...

Pemex Seeks Cracker Partners.(Brief Article)
January 6, 2004... Pemex is quietly moving forward on plans for a new cracker, which would process wet gas from the Gulf of Mexico, according to Pemex Petroquimica Planning Director Abraham Klip. The company will publish the selection protocol for a majority...

Green Groups Sue BLM.(Earthjustice files suit against Bureau of Land Management)(Brief Article)
January 6, 2004... Environmental groups on Friday sought a court order to halt a Jan. 8 meeting of a Bureau of Land Management (BLM) advisory committee that could provide recommendations on natural gas development at Otero Mesa in New Mexico. Earthjustice,...

NRP Closes BLC Acquisition.(Natural Resource Partners completes purchase from BLC Properties)(Brief Article)
January 6, 2004... Houston-based Natural Resource Partners said Monday it closed the purchase of mineral interests from BLC Properties for $73 million, as previously announced on Dec. 22. The acquisition was funded through the partnership's existing credit...

Arizona Has A New Pipeline Policy.(Brief Article)
January 6, 2004... The Arizona Corporation Commission (ACC) started the year with a new cost-recovery policy for building new pipelines or storage capacity to serve the robust growth in Arizona natural gas markets. The ACC hopes the pre-approval mechanism for...

Canadian Natural Jumps on Takeover Rumors.
January 7, 2004... HOUSTON -- Canadian Natural Resources has watched its share price hit a 52-week high this week on rumors that French oil giant Total is considering making a bid for the Calgary- based oil and gas company. Officials for Total and Canadian...

Army Lets Halliburton Skip Rules on Oil Deal.
January 7, 2004... WASHINGTON -- Notwithstanding the flap over alleged overcharges for fuel, the US Army Corps of Engineers (USACE) is letting Halliburton bring fuel into Iraq from a Kuwaiti supplier sidestepping federal contracting regulation. USACE Lt....

Bush Renews Sanctions Against Libya.
January 7, 2004... WASHINGTON -- Barely days after Libya promised to give up its pursuit of weapons of mass destruction, President Bush late on Monday renewed US sanctions against Libya, but held out hopes for improving relations that could enable US oil...

Expected Cold Snap Supports Heating Oil and Crude Futures.(Brief Article)
January 7, 2004... NEW YORK -- Crude oil futures kept steady on Tuesday, and were saved from an early-day 89cents slide by another cold- driven rally in heating oil and natural gas futures on the New York Mercantile Exchange (Nymex). In the next few days,...

Gulf of Mexico Exploration Activity Proceeds at a Healthy Pace.
January 7, 2004... HOUSTON -- Eye-popping discoveries in the US Gulf of Mexico may not be as common as they were a few years ago, but deepwater exploration and development activity is still running at a healthy pace. Companies have started venturing into some...

IPE Enjoyed Record Volumes in '03; Is Nymex Deal Still Possible?(International Petroleum Exchange )
January 7, 2004... LONDON -- The International Petroleum Exchange (IPE) enjoyed record trading volumes for the sixth successive year in 2003, with oil and gas contract volumes up 9.5% to 33.34 million lots, the exchange reported Tuesday. The news revived...

Oil Sands Recovery Methods Moving From Low to High Tech.
January 7, 2004... FORT MCMURRAY, ALBERTA -- It's almost like an assembly line in the land of leviathans. The world's biggest trucks rolling on the world's biggest tires carrying 400 tons of a bitumen-laden mixture of sand and rock, one after another, as a...

Daily Oil & Gas Price Review.(Illustration)
January 7, 2004... Daily Oil & Gas Price Review Prices for Tuesday, January 6, 2004 Light Sweet Futures -- Prompt Month ($/barrel) 1st 5-Day 2nd 3rd Chg Month Avg. ...

Stock Market Scorecard.(Illustration)
January 7, 2004... Stock Market Scorecard Close 1-Day. % Chg. Jan 06 Chg. % Chg. 10-Day 52-Wk YTD Integrated Majors Kerr-McGee 49.24 +1.13 ...

Exxon to Open Czech Unit.(Exxon Mobil )(Brief Article)
January 7, 2004... Exxon Mobil will open an IT and accounting center in Prague to support its European activities, the Czech agency for foreign investment said on Tuesday. Martin Jahn, the head of CzechInvest, said Exxon Mobil would employ around 300 people...

Apache Ups Aussie Estimates.(Doubled its estimates for gross recoverable natural gas reserves contained in its John Brookes field, off the coast of western Australia)(Brief Article)
January 7, 2004... Apache on Tuesday said it doubled its estimates for gross recoverable natural gas reserves contained in its John Brookes field, off the coast of western Australia after recently completing a second appraisal well. Houston-based Apache, one...

Update on Mariner I-85 Well.(Canadian Superior Energy says Canadian Superior El Paso "Mariner" I-85 Exploration well, located approximately 290 kilometers southeast of Halifax, Nova Scotia, is currently drilling ahead at a depth of 4,036 meters)(Brief Article)
January 7, 2004... Canadian Superior Energy said Tuesday that the Canadian Superior El Paso "Mariner" I-85 Exploration well, located approximately 290 kilometers southeast of Halifax, Nova Scotia, is currently drilling ahead at a depth of 4,036 meters. The...

Nuevo Sells California Assets.(Nuevo Energy sells Tonner Hills, 810-acre real estate development project located in Orange County, California, to affiliates of Shea Homes Limited Partnership and Standard Pacific Corp)(Brief Article)
January 7, 2004... Nuevo Energy announced Tuesday the sale of Tonner Hills, an 810-acre real estate development project located in Orange County, California, to affiliates of Shea Homes Limited Partnership and Standard Pacific Corp. for $47 million. Nuevo...

Iraq Fuel Depot Manager Fired.(Brief Article)
January 7, 2004... Iraqi oil minister Ibrahim Bahr al-Uloum has fired the manager of the oil depot in Najaf as one of a number of steps to improve the domestic fuel situation, according to Brigadier General Mark Kimmitt, deputy director for coalition operations....

Sonatrach Sees Highest Revenue.(Brief Article)
January 7, 2004... Algeria's state oil and gas giant Sonatrach confirmed on Tuesday its export revenues reached a record $24 billion in 2003, up 33% from the previous year. Sonatrach Chief Executive Mohamed Meziane told a news conference, "2003 was an...

Emerald Drilling in Colombia.(Emerald Energy awards a contract to Parker Drilling for its first well in its Campo Rico prospect in Colombia's Llano Basin)(Brief Article)
January 7, 2004... UK based Emerald Energy has awarded a contract to Parker Drilling for its first well in its Campo Rico prospect in Colombia's Llano Basin. Campo Rico-1 will be drilled 1 km south of state Ecopetrol's 1986 Centauro-1 find. Parker's drilling...

Petroecuador Hosts ITT Forum.(Brief Article)
January 7, 2004... Petroecuador will conduct a public meeting today on its giant Ishpingo Tambococha Tiputini (ITT) fields in Eastern Ecuador to evaluate options for developing the estimated $3.5 billion project. With 700 million-1.4 billion bbl of reserves, ITT...

Frontier Delays Date With Holly.(Brief Article)
January 7, 2004... Frontier Oil announced that the trial of its lawsuit against Holly Corp., scheduled to begin in Delaware Chancery Court on Jan. 12, has been delayed yet again (OD Nov.26,p6). A new trial date is expected next week, but it appears likely that...

Dynegy Dumps Tolling Pact.(Pact was with Dominion Resources subsidiary Virginia Electric Power)(Brief Article)
January 7, 2004... Dynegy said late Monday that as part of its ongoing plan to exit third-party marketing and trading it paid $34 million to end a 110-MW, wholesale, tolling agreement with Dominion Resources subsidiary Virginia Electric Power. Tolling...

Pump Price at New Year's Record.(Brief Article)
January 7, 2004... Drivers are paying the highest gasoline costs on record for this time of year as the nationwide average pump price topped $1.50/gallon for the first time in two months, the government said on Monday. The national price for regular unleaded...

Speculators Boost Net Longs.(Brief Article)
January 7, 2004... New York Mercantile Exchange crude oil speculators increased their net long positions in the week ended Dec. 30, according to a report by the Commodity Futures Trading Commission released on Monday. Monday's report, delayed from its usual...

Premcor Seeks Ethanol Supply.(Premcor Refining Group)(Brief Article)
January 7, 2004... The Premcor Refining Group, a wholly owned subsidiary of Premcor Inc., said Tuesday that it is soliciting proposals from qualified ethanol suppliers. PRG is one of the largest independent petroleum refiners and suppliers of unbranded petroleum...

Correction.(Correction Notice)
January 7, 2004... Opec's price-band mechanism was the brainchild of then- Venezuelan Oil Minister Ali Rodriguez, not former Venezuelan Oil Minister Erwin Arrieta as was reported in Oil Daily on Jan. 6. Copyright Today's complete oil and gas news briefing...

Crude Stocks Drop to Lowest Level Since 1975.
January 8, 2004... NEW YORK -- Lean commercial crude oil stocks in the US, which dropped to their lowest level in 28 years last week, are not only keeping crude prices high but also rattle product markets on fears that relatively comfortable product inventories...

Iraqi Oil Plans Clarified; DESC To Seek Bids.
January 8, 2004... WASHINGTON -- Even as the Bush administration outlined plans to spend as much as $1.6 billion between January and March of this year for Iraqi oil infrastructure repair and fuel distribution to Iraqis, the Defense Energy Support Center (DESC)...

Somo Looks South to Export Kirkuk Crude.
January 8, 2004... LONDON -- Iraq's State Oil Marketing Organization (Somo) is considering exporting Kirkuk crude from the south as an emergency measure, a senior Somo official said Wednesday. The export body is also targeting an export rate of 1.6...

Canadian Oil Sands Operators Learn From Mistakes, Problems.
January 8, 2004... FORT MCMURRAY, ALBERTA -- The last round of oil sands- upgrader construction taught the industry some expensive lessons. Cost overruns on the expansions of the Suncor and Syncrude facilities and the newly built Royal Dutch/Shell Group-led...

Worldscale Rate Errors Cause Consternation Among Ship Owners.
January 8, 2004... NEW YORK -- Worldscale, the organization that publishes annual tanker freight assessments, has admitted to an error in calculating freight rates for several European ports due to a "corrupted currency conversion program." The Worldscale system...

Duke Retains Dividend but Takes $3.3 Billion in Charges.
January 8, 2004... HOUSTON -- Duke Energy is retaining its generous $1.10 per share annual common stock dividend, Chairman and Chief Executive Paul Anderson said Wednesday, but the company is taking some strong financial hits in other areas. Pre-tax charges...

Three Canadian Oil Sands Developers Help Launch 'DilSynBit' Blend.
January 8, 2004... HOUSTON -- Inter Pipeline Fund, a Canadian pipeline partnership, has inked a deal with three of Canada's top oil sands producers to combine several types of oil sands output into a new oil product dubbed "DilSynBit" blend. The three...

EIA Weekly Statistics.(Illustration)
January 8, 2004... Department of Energy Weekly Statistics For Week Ended January 2, 2004 Crude Oil: StocksCrude Oil: Production and Imports (millions of bbl)(Average, thousands of bbl) Current Previous ...

Daily Oil & Gas Price Review.(Illustration)
January 8, 2004... Daily Oil & Gas Price Review Prices for Wednesday, January 7, 2004 Light Sweet Futures -- Prompt Month ($/barrel) 1st 5-Day 2nd 3rd Chg Month Avg. ...

Stock Market Scorecard.(Illustration)
January 8, 2004... Stock Market Scorecard Close 1-Day. % Chg. Jan 07 Chg. % Chg. 10-Day 52-Wk YTD Integrated Majors Murphy Oil 65.22 -0.03 ...

Energen Ups '04 Outlook.(Brief Article)
January 8, 2004... Holding company Energen Corp. on Tuesday raised its 2004 profit forecast for the second time in less than a month, citing strong natural gas prices and oil prices and its hedge position. The Birmingham, Alabama-based company projected...

Peoples Expands Texas Reserves.(Peoples Energy Production acquired certain oil and gas properties in Texas )(Brief Article)
January 8, 2004... Chicago-based Peoples Energy said Wednesday that its oil and gas production subsidiary, Peoples Energy Production, acquired certain oil and gas properties in Texas from a group of private entities for $35 million. The acquired reserves, 88% of...

PetroKazakhstan Faces $1M Fine.(Brief Article)
January 8, 2004... Canadian oil firm PetroKazakhstan lost a legal battle over charges it breached Kazakh anti-monopoly laws and faces a fine of around $1 million, the Kazakh competition agency said on Tuesday. Kazakh authorities had sought to slap a fine of...

Nigerian Unions May Strike.(Brief Article)
January 8, 2004... Nigerian unions on Wednesday formalized a decision taken on Tuesday night to start a general strike in the world's seventh largest oil exporter in two weeks unless the government reverses recent fuel price hikes. Adams Oshiomhole, leader...

Peru 2003 Oil Output Slips.(Brief Article)
January 8, 2004... Peru produced an average of 91,350 b/d of oil and 50.64 MMcf/d of gas in 2003, according to state agency Petroperu. December crude production was higher, at 91,523 b/d, while gas output fell to 44.54 MMcf/d. Crude production in 2003 was...

PDV Gets Loan for Gas Project.(Brief Article)
January 8, 2004... Petroleos de Venezuela (PDV) said Wednesday it received a $125 million loan from Societe General and ING Barings for construction of its Anaco gas project. The project will gather 2.4 Bcf/d of gas and 35,000 b/d of light crude oil from the...

Shell Canada to Settle Gas Suit.(Brief Article)
January 8, 2004... Shell Canada said on Wednesday it will settle a class-action lawsuit filed by motorists whose vehicles were hit with fuel pump and gauge problems related to an additive in its gasoline. Shell Canada said it will compensate drivers in three...

Judge to Rule on Enron.(Brief Article)
January 8, 2004... Enron officials told Oil Daily that US Bankruptcy Judge Arthur Gonzalez might grant a major approval today marking a significant step toward certifying Enron's reorganization plan. On Tuesday, Gonzalez conditionally approved a disclosure...

BP Shuts Texas Refinery Unit.(Brief Article)
January 8, 2004... BP shut a fluid catalytic cracking unit at its 470,000 b/d oil refinery in Texas City, Texas, for maintenance work, according to the Texas Commission on Environmental Quality. A BP official at the refinery declined to comment specifically...

Westport Names New Gulf Exec.(Brief Article)
January 8, 2004... Westport Resources Wednesday announced the appointment of Allan D. Keel as vice president and general manager of the company's Gulf of Mexico division. Keel has over 20 years experience in the oil and gas industry and previously worked...

BP, Partners Strike Oil in Gulf's Green Canyon.
January 14, 2004... HOUSTON -- Supermajor BP and its partners Unocal and BHP Billiton appear to have made a large deepwater oil discovery in an area of the Gulf of Mexico that is favorable for fast- track development. Unlike some other recent discoveries, the...