The Oil Daily articles from January 2006

The Oil Daily archives from January 2006

E&P firms to see cash flow shrink in '06.(exploration and production)
January 3, 2006... Energy analysts at Merrill Lynch believe 2006 will be a good year for North American exploration and production companies, but they do not expect them to fare as well they did in 2005 when they benefited from a "perfect pricing storm." "In...

Petrobras stays hot with three more finds.(Petroleo Brasileiro S.A.)
January 3, 2006... Brazil's Petrobras ended 2005 on a high note with the announcement of three significant offshore oil and gas discoveries late last week. The news came close on the heels of a Petrobras announcement on Dec. 27 of the giant Papa-Terra discovery...

PetroChina unlikely to be reimbursed for downstream losses.(PetroChina Company Ltd.)
January 3, 2006... The Chinese government is unlikely to award PetroChina a comparable payout as has been granted to rival state refiner Sinopec to cover refinery losses from state intervention in market prices, analysts said Friday. The Ministry of Finance...

Crude market ends year with rally: Traders eye uncertain '06.(demand of petroleum)
January 3, 2006... Hurricanes take the prize for propelling crude prices to an all-time high of $70.85 per barrel in 2005, overshadowing even speculators and Chinese demand, which, to a large extent, supported the market the previous year. However, in 2006...

Daily oil & gas price review: prices for Friday, December 30, 2005.(Statistical table)
January 3, 2006... Daily Oil & Gas Price Review Prices for Friday, December 30, 2005 US Domestic Crudes ($/barrel) Crude Oil [GRAPHIC OMITTED] Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +0.84...

Return of cold weather expected to trigger natural gas rally after big sell off.
January 3, 2006... Despite last week's deep sell-off of the February gas futures contract - which created more than $3 of losses in three days and put gas prices south of $11 - it appears market bulls could be set to stage a comeback on revised frigid weather...

US rig count falls by four.(Baker Hughes drilling report)(Brief article)
January 3, 2006... The number of rigs searching for oil and gas in the US fell by four to 1,471 last week, oil services firm Baker Hughes said Friday. During the same week last year, there were 1,243 rigs at work. The number of rigs searching for oil in the...

Repsol converts PDV contract.(Top Briefs)(Repsol YPF S.A. (Madrid, Spain), Petroleos de Venezuela)(Brief article)
January 3, 2006... Spanish oil company Repsol YPF agreed to convert a Venezuelan oil field operating contract into a joint venture where the government will hold a controlling share, the Venezuelan government announced Friday. Prior to signing off on the new...

Chalabi assumes oil control.(Top Briefs)(Ahmad Chalabi )
January 3, 2006... Iraq's Deputy Prime Minister Ahmad Chalabi has assumed direct control of the powerful oil ministry as crude exports ground to a halt due to sabotage attacks and logistics problems, officials said on Friday. Chalabi, who has been improving...

Canadian gas storage.(NEWS ALERT)(Brief article)
January 3, 2006... Enerdata reported that the amount of natural gas in Canadian storage facilities fell 23.7 Bcf to 392.2 Bcf for the week ended Dec. 23. Storage caverns are 73.6% full, down from 78.1% the previous week and down from 80.4% a year ago. (Bcf)...

Nordic starts CBM output.(Nordic Oil and Gas Ltd., coal bed methane)(Brief article)
January 3, 2006... Canadian independent Nordic Oil and Gas said Friday that it has tied in and started producing from its first coal bed methane CBM) well in the Joffre section of Alberta's Horseshoe Canyon. "When added to our four Belly River wells, this new...

Stock market scorecard.(NEWS ALERT)(Statistical table)
January 3, 2006... Stock Market Scorecard Integrated Close 1-Day Majors 12/30 Chg. % Chg. Statoil 22.96 +0.27 +1.19% Amerada Hess 126.82 +1.13 +0.90...

Shell China plant finished.(International)(China National Offshore Oil Corp. and Royal Dutch-Shell Group of Cos.)(Brief article)
January 3, 2006... Oil giant Royal Dutch Shell and China National Offshore Oil Corp. (CNOOC) said Friday that construction of their petrochemicals complex at Daya Bay, Guangdong, is complete. "Final preparations are being made for startup," CNOOC and...

TransGlobe plugs Yemen well.(TransGlobe Energy Corp.)(Brief article)
January 3, 2006... Calgary-based independent TransGlobe Energy said Friday that it plugged and abandoned its Hatat #1 well on Block S-1 in Yemen. Trans-Globe held a 25% stake in the well. According to a TransGlobe statement, Hatat #1 failed to yield...

, Ukraine at impasse.(International)(OAO Gazprom exports)(Brief article)
January 3, 2006... Talks on new natural gas delivery terms between Ukraine and Russia were at an impasse on Friday and a failure to agree could not only cut off Russian gas supplies to Ukraine in the New Year, but also threaten supplies to European customers that...

China ramps up refinery runs.(International)(planning of petroleum and petrochemical industries)(Brief article)
January 3, 2006... China's major refineries are expected to up crude throughput to near record levels in January in anticipation of higher demand for the lunar New Year at the end of the month. Sinopec's Zhenhai refinery is now scheduled to run at record...

MMS seeks offshore comments.(Legislation/Regulation)
January 3, 2006... The Minerals Management Service MMS) announced Friday it is seeking comments on the development of the agency's regulatory regime over alternative energy use on the Outer Continental Shelf OCS). This is the first step toward creation of...

Omni buys rival Preheat.(Mergers & Acquisitions)(Omni Energy Services Corp.)(Brief article)
January 3, 2006... Carencro, Louisiana-based Omni Energy Services has announced plans to buy Preheat Inc. in a deal valued at $23 million. Omni President and Chief Executive James C. Eckert said the deal calls for Omni to pay $16 million in cash and issue...

Sunoco buys Mesa Pipe stake.(Mergers & Acquisitions)(Sunoco Logistics Partners L.P., Mesa Pipe Line System )(Brief article)
January 3, 2006... Pipeline operator Sunoco Logistics Partners said Friday that it purchased a 29.8% stake in the Mesa Pipe Line System from Chevron Pipe Line Co., giving Sunoco a 37.0% percent interest in 80-mile long Mesa. Mesa consists of a 316,000 b/d,...

Wall street sees another big year for big oil.
January 4, 2006... With oil prices averaging around $60 per barrel last year, oil company executives and shareholders had plenty to smile about in 2005. Strong commodity prices and refining margins--both of which were lifted by 2005's active US hurricane...

Iraqi oil exports drop Amid ministerial mess.
January 4, 2006... Iraq's crude oil exports from southern Basrah Oil Terminal fell in December to the lowest level in over two years, dealing a heavy blow to efforts by the country's new leaders and US officials to rehabilitate the Iraqi oil industry. Iraq...

Bolivia's Morales aims to allay oil investor fears with tour.
January 4, 2006... Bolivia's president-elect, Evo Morales, has embarked on a world tour that will take him to Europe, South Africa, China and powerful neighbor Brazil. The 10-day tour is seen as a step by the left-wing Morales to bolster his credibility as...

Ivanhoe sells China stake.(Brief article)
January 4, 2006... US independent Ivanhoe Energy said Tuesday that it has farmed out 10% of its stake in China's Zitong Block to Japan's Mitsubishi for $4 million. Mitsubishi retains the right to acquire an additional 10% stake. Ivanhoe owns a 100% stake in the...

Nymex crude rallies past $63 on feverish speculative buying.(Brief article)
January 4, 2006... The New Year kicked off with a sharp rise in energy prices, as heavy speculative buying fueled a rally on the New York Mercantile Exchange (Nymex) on Tuesday. The past couple of years have seen a heavy flow of cash injected into the oil markets...

Daily oil & gas price review: prices for Tuesday, January 3, 2006.(Table)
January 4, 2006... Daily Oil & Gas Price Review Prices for Tuesday, January 3, 2006 Crude Oil [GRAPHIC OMITTED] US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +1.81 ...

Koch, marathon plan Minnesota pipeline to access more Canadian crude oil.
January 4, 2006... Minnesota Pipeline is proposing a $300 million, 300-mile crude oil pipeline expansion to increase deliveries of Canadian crude oil to two Minnesota refineries. The pipeline is a joint venture of Koch Industries' Flint Hills Resources and...

Coffeyville to boost Kansas refinery capacity, improve crude slate.
January 4, 2006... Coffeyville Resources, LLC said on Tuesday that its board has approved a $92 million expansion of its 100,000 barrel per day refinery in Kansas. The plant has had a history of problems, was considered a liability, and could not find a buyer for...

Heating degree days: for the week of December 31, 2005.(Table)
January 4, 2006... Heating Degree Days For the week of December 31, 2005 Week Dev From Week From Year Cum State/City (PADD) Total Norm Ago ...

Under pressure, Gazprom restores gas flows to Europe.
January 4, 2006... Russia's state-run monopoly Gazprom restored gas flows to European Union countries to normal levels early Tuesday, after economy ministries and gas customers in Central and Western Europe reported a 30%-40% drop in the pressure of Russian...

Buyout rumors make shell Canada leading share gainer.
January 4, 2006... Rumors that Royal Dutch Shell would purchase the remaining 22% stake of Shell Canada that it does not already own boosted the stock in its Canadian affiliate by 10.2% last week--making it by far the biggest firm among the share price gainers in...

Oil & gas share gainers and decliners.(Table)
January 4, 2006... Oil & Gas Share Gainers and Decliners Week Ended Dec 30, 2005 Top 15 Gainers Close Close Company Ticker 12/30 12/23 %Chg Northern Petroleum NOP LN 58.50 ...

Calpine terminates tender offer.(Corporate News)(Brief article)
January 4, 2006... Bankrupt power producer Calpine announced late Friday that it had terminated its tender offer made in early December, which was an effort to buy back first lien debt using proceeds from its July 2005 Rosetta asset sale. The San Jose,...

Malaysia gas project starts.(International)(Brief article)
January 4, 2006... Royal Dutch Shell unit Shell Malaysia and Malaysia's state Petronas Carigali have made the first delivery of gas from their jointly operated Shallow Clastics satellite field, which is part of the massive E11 Hub integrated gas project offshore...

Total tests Yemen well.(International)(Brief article)
January 4, 2006... Total and its partners have successfully tested the Jathma-1 well in Yemen, as the first of a three-well exploration program at Block 10 in the East Shabwa Development Area, Total said Tuesday. The well produced over 1,900 b/d of...

Peru LNG to begin construction.(Latin America)(Brief article)
January 4, 2006... Peru LNG plans to begin construction on its liquefied natural gas plant in mid-January and hopes to have the plant start gas exports by the end of 2009, according to Peru LNG's general manager, Carlos del Solar. Hunt Oil of the US with a 50%...

Stock market scorecard.(NEWS ALERT)(Statistical table)
January 4, 2006... Stock Market Scorecard Integrated Close 1-Day Majors 1/3 Chg. % Chg. Occidental 85.97 +6.09 +7.62% Marathon 65.24 +4.27 +7.00 Amerada Hess 133.63 +6.81 ...

Repsol, Petrobras close swap.(Latin America)(Brief article)
January 4, 2006... Brazil's state-controlled oil company Petrobras will receive $82 million from Repsol YPF to complete an asset swap originally made in 2000, according to a statement issued by Petrobras on Monday. The asset swap allowed Petrobras to expand...

Colombia sees oil in Tayrona.(Empresa Colombiana de Petroleos S.A.)(Brief article)
January 4, 2006... There are indications of oil as well as gas in the Tayrona Block located off the country's northern Caribbean coast, state oil company Ecopetrol said on Tuesday. The company cited studies it is conducting along with Brazilian firm Petrobras and...

Basic makes bid for G&L tool.(Mergers & Acquisitions)(Brief article)
January 4, 2006... Midland, Texas-based Basic Energy Services announced Tuesday it has made an $80 million offer for the assets of G&L Tool, a oilfield services and rental tool firm in Abilene, Texas. Basic Energy President and Chief Executive Ken Huseman...

Jarrett is new fossil chief.(appointment of Jeffrey Jarrett)(Brief article)
January 4, 2006... Jeffrey Jarrett on Tuesday took over as Assistant Secretary for Fossil Energy at the Department of Energy, where he will serve as primary policy advisor to Energy Secretary Samuel Bodman on oil, natural gas and coal issues. "I want to...

Reichstul joins Repsol board.(appointment of Philippe Reichstul)(Brief article)
January 4, 2006... Repsol YPF said Tuesday that it has appointed former Petrobras chief Philippe Reichstul as an independent member of the company's board. Reichstul has also worked for the Brazilian government in other capacities, first as the budget chief...

Big Foot found in deepwater Gulf of Mexico.
January 5, 2006... Chevron has chalked up another deepwater discovery in the Gulf of Mexico in partnership with Anadarko, Plains Exploration & Production and Royal Dutch Shell. The California-based major said on Wednesday that it found 300 feet or more of net oil...

Russia, Ukraine settle gas pricing dispute.
January 5, 2006... Russia and Ukraine on Wednesday reached agreement in Moscow to resolve the natural gas pricing dispute that led to supply disruptions in Europe over the New Year (OD Jan. 4, p5). Ukraine will pay $95 per thousand cubic meters ($2.65 per...

CME interest threatens Nymex deal with General Atlantic.
January 5, 2006... The New York Mercantile Exchange (Nymex) is having problems charting its future in a changing business environment. After previous failed attempts, the energy bourse clinched a deal with private equity firm General Atlantic last September,...

Nymex crude ends higher despite bearish Opec talk.(Brief article)
January 5, 2006... New York Mercantile Exchange (Nymex) crude futures took a short breather on Wednesday after the 3.4% rise the day before. The front-month contract dipped to a session low of $62.26 per barrel on bearish comments from Opec that the producer...

Daily oil & gas price review: prices for Wednesday, January 4, 2006.(Table)
January 5, 2006... Daily Oil & Gas Price Review Prices for Wednesday, January 4, 2006 Crude Oil [GRAPHIC OMITTED] US Domestic Crudes ($/barrel) Spot 5-Day Month- Cash/Spot Change Price ...

Repsol optimistic about Bolivia despite Morales threats.
January 5, 2006... Bolivia's President-elect Evo Morales addressed Spanish investors on Wednesday, including the head of Repsol YPF, in an effort to bolster his reputation as a head of government they can do business with. Morales first met with Spanish...

US refining margins up slightly.(Brief article)
January 5, 2006... US refining margins averaged $8.68/bbl during the last week of 2005, according to analysts at A.G. Edwards. Margins were up $1.19 from the prior week but down almost $20 from the level they reached at the beginning of the fourth quarter. Last...

SeaDrill bids for Smedvig in M&A upswing for oil services.
January 5, 2006... SeaDrill, one of Norway's most deal-orientated rig operators, announced Wednesday that it was launching a takeover bid for fellow Nordic driller Smedvig, a company valued at $2.3 billion. Analysts reacted with little surprise, saying the...

EPA sets stop-gap rule on Ethanol, renewable fuel use.
January 5, 2006... Refiners, importers and blenders will use 4 billion gallons of ethanol and other renewable fuels in gasoline in 2006 under new standards finalized by the Environmental Protection Agency (EPA). The standards are considered stop-gap until the...

Surge in Alaskan output fails to materialize.
January 5, 2006... The normal seasonal rise in Alaskan North Slope (ANS) production failed to materialize in December as decline rates overcame the benefits of colder weather needed for re-injection operations. Alaskan crude production fell to 878,680 barrels per...

Nigerian named Opec chief.(Mohammed Barkindo)(Brief article)
January 5, 2006... Mohammed Barkindo, a senior Nigerian delegate to Opec, has been named the organization's acting secretary general, sources said Wednesday. "I received an official memo of his appointment today," a source at Opec's Vienna headquarters told Dow...

Dubai Emir Makhtoum dies.(Top Briefs)(Obituary)(Brief article)
January 5, 2006... Sheikh Maktoum bin Rashid al-Maktoum, ruler of Dubai and prime minister and vice president of the United Arab Emirates, died early Wednesday in Australia, the official Emirates News Agency said. Sheikh Maktoum, who has ruled Dubai since the...

Range appoints shale boss.(appointment of Mark Whitley)(Brief article)
January 5, 2006... Range Resources has appointed industry veteran Mark Whitley to manage its Permian Basin and East Texas operations and to oversee all of its shale gas activities. Whitley joins Range as a senior vice president after holding previous positions...

Mirant back from bankruptcy.(Corporate News)(Brief article)
January 5, 2006... Electricity producer Mirant said on Tuesday that it had emerged from bankruptcy protection after two-and-a-half years and secured $2.35 billion in financing. The Atlanta-based company, which converted more than $6 billion of debt and...

Stock market scorecard.(NEWS ALERT)(Statistical table)
January 5, 2006... Stock Market Scorecard Integrated Close 1-Day Majors 38721 Chg. % Chg. Statoil 24.65 +0.52 +2.15% Amerada Hess 135.41 +1.78 +1.33 Marathon 66.10...

Western refining files for IPO.(Initial public offerings)(Brief article)
January 5, 2006... Providing further evidence of investors' taste for refining stocks, El Paso-based crude oil refiner Western Refining Inc. may offer up to 18.75 million shares for between $15 and $17/share in an initial public offering, according to a...

Bank upgrades Exxon rating.(Corporate News)(Brief article)
January 5, 2006... Banc of America Securities on Wednesday raised its rating on Exxon Mobil stock to "buy" from "neutral" and identified shares of the world's largest publicly traded oil company as a "top pick" for 2006. Analyst Daniel Barcelo, however, left his...

Firms ink Colorado drilling pact.(Exploration & Production)(Brief article)
January 5, 2006... Denver-based Teton Energy announced Wednesday it has signed a drilling agreement with Houston-based Noble Energy to develop properties in the Eastern Denver-Julesburg Basin in Colorado. Teton President and Chief Executive Karl F. Arleth...

New gas pipeline for the UAE.(International)(Brief article)
January 5, 2006... UAE-based Dana Gas, the first regional gas company to be listed publicly, has joined forces with Emirates General Petroleum Corp. (Emarat) to build, own and operate a gas pipeline linking the emirate of Sharjah to the Hamriyah Free Zone,...

Saudis adjust export prices.(Saudi Arabian Oil Co.)(Brief article)
January 5, 2006... Saudi Arabia's state-owned oil company Saudi Aramco has adjusted its term prices for February crude exports by widening the discounts for Arab Light to Europe and the US by 75 cents and 5 cents, respectively, while also changing the...

Chile reviews LNG bids.(Empresa Nacional del Petroleo S.A.)(Brief article)
January 5, 2006... Chile's state energy company Enap plans to close the bidding process to build and supply a liquefied natural gas terminal LNG), according to a company spokesman. An Enap spokesman said bids on the project were due Jan. 23 and a decision...

Saudi crude price differentials.(Table)(Brief article)
January 5, 2006... Saudi Crude Price Differentials February barrels on an f.o.b. basis ($/bbl) US Europe Asia Basis WTI Brent Oman/Dubai Extra Light Feb. -4.50 -2.95 +2.95...

Harken inks Colombia deal.(Latin America)(Brief article)
January 5, 2006... Harken Energy said Wednesday that its international affiliate, Global Energy Development, has signed a 30-year, exclusive exploration and production deal with the Colombian government for roughly 90,000 acres in the Catatumbo Basin in...

Colombian output stabilizing.(Latin America)(Brief article)
January 5, 2006... For the first 11 months of 2005 Colombia produced an average of 527,300 b/d of oil, down 1% from the same period last year, according to state-owned Ecopetrol. Although down versus 2004, the latest data shows that over the course of 2005...

Peru '05 output rises.(Latin America)(Brief article)
January 5, 2006... Peru produced an average of 111,300 b/d of oil and other hydrocarbon liquids per day in 2005, or 40.6 million bbl for the entire year, a roughly 18% increase over the previous year as increased production from the Camisea project boosted...

Colombia rebels cause spill.(Latin America)(Brief article)
January 5, 2006... Colombia's state-run oil company was working Tuesday to control a spill affecting 60-mile stretch of the Amazon River after the country's main rebel group blew up eight wells and three pipelines in the Amazon rain forest over the weekend. An...

Venezuela mulls more audits.(Latin America)(Brief article)
January 5, 2006... Venezuela's tax authority might expand an audit of 32 oil fields further into the past in an effort to reclaim lost taxes, Jose Vielma Mora, head of the Seniat tax agency, said Wednesday. The Seniat has already billed 22 companies that...

FERC Reviews Elba Island LNG.(United States. Federal Energy Regulatory Commission)(Brief article)
January 5, 2006... The pieces are falling into place for the expansion of El Paso's LNG terminal at Elba Island, Georgia, following the Federal Energy Regulatory Commission's (FERC) release of a draft environmental report that sees little problem with the...

Shell settles with CFTC.(United States. Commodity Futures Trading Commission)(Brief article)
January 5, 2006... Two Royal Dutch Shell units and a Shell trader will pay $300,000 to settle charges of making prearranged crude oil trades on the New York Mercantile Exchange, the Commodity Futures Trading Commission (CFTC) said on Wednesday. The units, Shell...

Exxon reduces Baytown runs.(Refining)(Brief article)
January 5, 2006... Exxon Mobil has reduced rates at its Baytown, Texas, refinery's 42,000 b/d flexicoker through Jan. 7, traders said on Wednesday, but the company insisted the effects on production would be "minimal." "We anticipate any operational impact...

Klesse takes Valero reigns.(appointment of Bill Klesse)(Brief article)
January 5, 2006... Bill Klesse, the former chief operating officer of independent refiner Valero, took over as CEO of North America largest refiner on Jan. 1. He replaced Bill Greehey, who will remain with the company as chairman (OD Nov. 1, p1). The company...

Gas prices plunge on rare storage build.
January 6, 2006... In what was shocking news to market players everywhere, the US Energy Information Administration (EIA) on Thursday reported a natural gas storage build of 1 billion cubic feet for the week ending Dec. 30--an unprecedented event for this time of...

Conoco, Marathon see higher Q4 output.(ConocoPhillips)(Marathon Oil)
January 6, 2006... ConocoPhillips and Marathon Oil said Thursday that fourth-quarter oil and gas production will be higher than third-quarter volumes, largely as a result of a return of Gulf of Mexico output. The financial benefit of higher volumes, however, will...

Abu Dhabi stakes new border in dispute with Saudi Arabia.
January 6, 2006... After publicly announcing last June their dissatisfaction with a contentious 1974 border agreement with Saudi Arabia, Abu Dhabi officials have moved beyond rhetoric to a more active stance in asserting their territorial claims. A newly...

Daily oil & gas price review: prices for Thursday, January 5, 2006.(Statistical table)
January 6, 2006... Crude Oil [GRAPHIC OMITTED] US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -0.69 57.72 56.94 54.73 LLS (St. James) -0.69 63.47 ...

Suncor oil sands output tops billion barrels, more growth seen.(Suncor Energy Inc.)
January 6, 2006... Canadian oil sands giant Suncor Energy attained a significant achievement this week with the sale of the billionth barrel of oil sands crude since its first facility began operations in 1967. "Our entry into the oil sands business was...

EIA weekly statistics: for week ended Dec. 30, 2005.(Statistical table)
January 6, 2006... US Crude Oil: Stocks (1) (millions of bbl) Current Previous Week Week Chg. PADD 1 15.5 14.5 6.9% PADD 2 68.4 68.1 0.4% Cushing, OK ...

Industry, green groups weigh in on offshore review process.(Coastal Zone Management Act of 1972)
January 6, 2006... The oil industry and environmental groups for once are on the same page: They both dislike the Bush administration's new regulations to streamline the review process for offshore oil and gas development. The administration published in the...

Norway backs fund investment in total after ethics review.
January 6, 2006... Norway's newly consolidated state pension fund is to continue investing in Total following an examination of the French oil company's activities in Myanmar by a government ethics panel, Norway's Ministry of Finance announced Thursday. The...

BP Azeri field starts output.(Azerbaijan International Operating Co.)(Brief article)
January 6, 2006... The BP-led Azerbaijan International Operating Company (AIOC) has started pumping oil from the western side of a huge offshore Azeri field, the group said in a statement on Thursday. "I'm proud to announce that we have started to get oil...

Gas in storage rises 1 Bcf.(Brief article)
January 6, 2006... Stocks of working natural gas in US storage facilities rose 1 Bcf for the week ended Dec.30, leaving storage levels at 2,641 Bcf, according to the Energy Information Administration (EIA). Stocks are 79 Bcf lower than last year at this time....

Bodman confident about Opec.(Samuel Bodman )(Organization of the Petroleum Exporting Countries)(Brief article)
January 6, 2006... Ahead of a slated Opec meeting later this month, Energy Secretary Samuel Bodman on Thursday said he expects Opec to respond to global demand and keep the market supplied adequately. "I would hope and I expect they will continue to supply to...

Energy firms post big returns.(Brief article)
January 6, 2006... The market capitalization of energy companies rose $500 billion in 2005, with an average total return of 44% compared with an average return of 50.8% the prior year, according to a newly released survey by energy consultancy John S. Herold. ...