The Oil Daily articles from January 2007

The Oil Daily archives from January 2007

Exxon challenges point Thomson ruling.(Exxon Mobil)
January 2, 2007... Exxon Mobil is asking the Alaskan Supreme Court to reverse or remand for further review decisions taken in November by the Alaska Department of Natural Resources (DNR) regarding the undeveloped Point Thomson unit (PTU) on the North Slope. ...

Mexico's 2007 budget harsh on Pemex.
January 2, 2007... Mexico's lower house of Congress approved a $208 billion spending bill for 2007, which will fund new social programs and decrease the amount of money disbursed by the government to state oil company Pemex. Confident that high oil prices...

Natgas traders watching weather forecasts, storage data.
January 2, 2007... Like a broken record, near-term weather forecasts and storage data are once again going to be the main thrust that natural gas traders will be focusing on when the market returns to work following the long holiday weekend. Unless an unforeseen...

Nigeria death toll mounts.(Brief article)
January 2, 2007... The death toll in last week's massive oil pipeline fire in the Nigerian city of Lagos has risen to 284 after 15 more people died in hospital. A further 25 are critically ill. Hundreds of people were scooping fuel from a pipeline punctured...

Late rally pushes Nymex crude over $61 at year end.
January 2, 2007... With a few minutes left for trading in 2006, the prompt February oil contract on the New York Mercantile Exchange (Nymex) seemed to settle around the $60.50 mark. But then the magic of thin holiday trading kicked in and within two minutes oil...

Daily oil & gas price review: prices for Friday, December 29, 2006.(Statistical table)
January 2, 2007... Crude Oil [GRAPHIC OMITTED] US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +0.67 56.45 56.02 58.66 LLS (St. James) +0.47 63.25 63.21 ...

Us spot crude differentials steady in thin end-of-year trading.
January 2, 2007... With most traders out for the holidays, the US crude spot market saw little activity during the last week of 2006 and price differentials for most grades were mostly unchanged. Trading is also expected to get off to a slow start when players...

Baker hughes drilling report.(Brief article)
January 2, 2007... US rig count falls by 13 The number of drilling rigs searching for oil and gas in the US fell by 13 to 1,710 last week, Baker Hughes said Friday. During the same week last year, there were 1,471 rigs at work. The number of rigs...

Oil impact of more protection for polar bears, whales uncertain.
January 2, 2007... The oil and gas industry is closely watching a federal proposal to grant polar bears and right whales greater government protection that could impact development in the Arctic and parts of Alaska's Pacific coast. The Bush administration...

US regulators may ease up on tough post-enron rules.
January 2, 2007... US regulators' plans to make accounting rules for listed firms less burdensome were no doubt a welcome Christmas present for executives who argue that the Sarbanes-Oxley (Sox) financial compliance regulations are too costly, too onerous...

Nymex closed to honor ford.(Top Briefs)(New York Mercantile Exchange, Gerald Ford)(Brief article)
January 2, 2007... The trading floor of the New York Mercantile Exchange (Nymex), the world's top energy bourse, will be closed on Tuesday, Jan. 2, 2007 in observance of the national day of mourning for former President Gerald Ford, Nymex said Friday. The...

Petrobras reports oil finds.(Top Briefs)
January 2, 2007... Brazil's state-run oil firm Petrobras on Friday declared 19 separate oil fields within Brazil as commercially viable. In a written statement, Petrobras said the 19 fields contain estimated oil reserves totaling about 2.1 billion bbl of oil....

Apache declares force majuere.(Corporate News)(Brief article)
January 2, 2007... US oil and gas producer Apache and its partners in the Harriet gas field off northwest Australia have declared force majeure on a gas reserves agreement with India's Burrup Fertilisers Pte. Ltd. Apache, Australia's Tap Oil and Kuwait...

Bush to rule on Bristol bay.(Environment)(George W. Bush)(Brief article)
January 2, 2007... President Bush is expected to lift the ban on offshore oil and gas drilling in Alaska's Bristol Bay region within days. The White House could not be reached for comment Friday, but several Alaska officials said they'd been told a decision...

Russia, Belarus to meet again.(International)(Brief article)
January 2, 2007... Belarus delegation headed to Moscow on Friday in a last-minute attempt to settle a gas pricing row with Russia that could threaten supplies to Europe, but Russia's gas monopoly was not optimistic of a breakthrough. The European Commission...

Ecuador lowers Oriente price.(Latin America)(Brief article)
January 2, 2007... The average price of Petroecuador's Oriente crude oil for export was $48.03/bbl on Dec. 26, down 3% from $49.48/bbl on Dec. 19, Petroecuador said Friday. The price was 12% higher than an average of $42.76/bbl in December 2005, Petroecuador...

Statoil completes Deltana well.(Latin America)(Brief article)
January 2, 2007... Statoil said Friday it has completed the drilling of Cocuina-2X, as part of a three-well exploration campaign in Block 4 of Plataforma Deltana, off eastern Venezuela. Statoil said the well, located 149 miles from the Orinoco Delta, was...

Bush signs pipe safety bill.(Legislation/Regulation)(George W. Bush)(Brief article)
January 2, 2007... US President George W. Bush signed into law Friday legislation aimed at preventing the kind of runaway corrosion that plagued low pressure pipelines at the huge Prudhoe Bay oil field in Alaska, which had been exempt from federal oversight. ...

Cargo ship hits Todco rig.(Oil Field Service)(Brief article)
January 2, 2007... Houston-based Todco on Friday was still trying to determine the extent of damages to one of its rigs that was hit by a cargo ship off the coast of Veracruz, Mexico. Todco said the rig, THE 205, had completed a three-year drilling contract with...

EIA gas storage report.(Energy Information Administration)(Brief article)
January 2, 2007... Gas in Storage Falls 46 Bcf Stocks of working natural gas in US storage facilities fell 46 Bcf for the week ending Dec. 22, leaving storage levels at 3,121 Bcf, according to the Energy Information Administration (EIA). Gas stocks are...

Stock market scorecard.(Statistical table)
January 2, 2007... Integrated Close 1-Day % Chg. Majors 12/29 Chg. % Chg. 10-Day 52-Wk YTD Shell-B 71.15 +0.25 +0.35% -1.10% +11.80% +10.26% Shell-A 70.79 +0.24 +0.34 -0.60...

Canadian gas storage.(Brief article)
January 2, 2007... The amount of natural gas in Canadian storage facilities fell 1.9 Bcf to 419.4 Bcf for the week ending Dec. 22. Storage caverns were 87.7% full, compared to 88.1% the previous week and 75.7% a year ago, according to Enerdata. (Bcf) ...

Analysts wonder if oil shares can stay hot.
January 3, 2007... Oil company investors witnessed some big gains in 2006, with Exxon Mobil, ConocoPhillips and others turning in strong share price performances last year. In 2006, the integrated oil sector moved, for the most part, in step with commodity...

Russia-Belarus deal averts gas crisis.
January 3, 2007... European consumers breathed a sigh of relief as Russia and Belarus agreed a new natural gas deal just two minutes before a midnight deadline on Sunday, narrowly averting a potential rerun of supply disruptions to Europe one year ago. ...

Canada's trusts try to make sense of proposed tax changes.(income trusts involved in oil and gas production and development)
January 3, 2007... The Canadian government finally has offered some clarification of the terms of its proposed changes to the income trust taxation issue that will permit the oil and gas production and development vehicles to maintain a respectable level of...

US refining margins slide.(United States)(Brief article)
January 3, 2007... In the last week of December, US refining margins continued to slide, falling 45cents to average $7.51/bbl, according to analysts at AG Edwards. Margins are down by more than $4 since late November. Warm weather and rising refinery...

Share Performance.(Statistical table)(Brief article)
January 3, 2007... Top Oil & Gas Companies Company December YTD Norsk Hydro 23.1% 48.6% ConocoPhillips 6.9 23.7 Eni 1.8 20.6 Chevron 1.7 29.5 BG 1.4 37.6 Total ...

Crude falls on mild weather in low volume market.(Brief article)
January 3, 2007... Crude futures in New York fell in quiet electronic trading on Tuesday as warmer-than-usual winter weather in the US Northeast undermined heating demand. On London's ICE Futures, the February Brent contract fell 42cents to $60.44 per...

Daily oil & gas price review: prices for Tuesday, January 2, 2007.(Statistical table)
January 3, 2007... Crude Oil [GRAPHIC OMITTED] US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -0.20 56.25 56.00 59.29 LLS (St. James) -0.20 63.05 62.95 ...

Weather blocking Plains' effort to assess ruptured Gulf pipe.(Plains All American Pipeline L.P.)
January 3, 2007... Divers have sealed the breach in a sub-sea oil pipeline off the coast of Galveston, Texas, that was ruptured Dec. 24 by the anchor of a cargo vessel attempting to moor in the area. The pipeline's owner, Houston-based Plains All American...

US probes MMS officials.(Justice Department, Minerals Management Service)(Brief article)
January 3, 2007... The US Justice Department is investigating whether the director of a multibillion-dollar oil-trading program at the Interior Department has been paid as a consultant for oil companies hoping for contracts, The New York Times reported on...

Democrats seek quick strike against big oil.
January 4, 2007... Power-wielding Democrats are targeting oil and gas companies in their policy shifts in the new Congress being convened Thursday. Swept to power in both the Senate and House of Representatives, Democrats are playing Robin Hood of sorts by...

Nabors warns of soft drilling market.(financial report)(Nabors Drilling Ltd)(Financial report)
January 4, 2007... Onshore drilling contractor Nabors fueled fears of a widening slowdown in North American gas drilling on Wednesday, issuing a profit warning that triggered a sharp fall in its share price. Nabors said its fourth-quarter earnings would fall...

Nymex crude plunges $2 on fund liquidation, mild weather.(New York Mercantile Exchange)(Brief article)
January 4, 2007... Crude and products futures on Wednesday plunged to the lowest levels since mid-November, with crude closing below $59 per barrel, as continued mild winter weather in the US Northeast reduced heating demand. Expectations for a build in...

Daily oil & gas price review: prices for Wednesday, January 3, 2007.(prices and rates)(Statistical table)
January 4, 2007... Crude Oil [GRAPHIC OMITTED] US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -2.43 53.82 55.61 58.11 LLS (St. James) -2.53 60.52 62.45 ...

Ethanol prices still high, but likely to come down in '07.
January 4, 2007... The price of ethanol in the US spot market is currently very high and out of line with fundamentals, analysts say, but prices should come down throughout 2007 as more sellers try to break into markets where the gasoline blending component is...

FERC approves tariff increases on trans-Alaskan pipeline.
January 4, 2007... Federal regulators have approved requests to raise the cost of moving oil down the 800-mile-long trans-Alaska pipeline by as much as 40%. The five companies that own and operate the pipeline filed separate tariff increases with the Federal...

Total makes Angola find.(Top Briefs)
January 4, 2007... Total has notched up another oil discovery in Angola's ultra-deepwater Block 32. Total's sixth exploration well, Salsa-1, tested at a rate of 3,686 barrels per day of oil from a Miocene reservoir in water depths of 5,925 feet, the French...

Exxon climate tactics attacked.(Union of Concerned Scientists accuses Exxon Mobil Corp. of investing in groups questioning global warming effects)(Brief article)
January 4, 2007... The Union of Concerned Scientists, a nonprofit science watchdog group, on Wednesday said Exxon Mobil had succeeded in parlaying a relatively modest investment in groups that question global warming into unwarranted public doubt on findings that...

Australian cyclone has little bite.(facility closures)(Brief article)
January 4, 2007... Western Australian oil firms ushered in the new year with shutdowns at production sites in anticipation of tropical cyclone Isobel, the first in the cyclone season that typically lasts until March. As a precautionary measure, Woodside...

Nigerian militants foil rescue.(Movement for the Emancipation of the Niger Delta foils recue efforts to free its hostages)(Brief article)
January 4, 2007... Nigeria's militant Movement for the Emancipation of the Niger Delta (Mend) claimed Wednesday to have foiled a plan by Eni affiliate Agip to free four of its oil workers, who have been held hostage for almost a month. The four...

Plant safety rules proposed.(Legislation/Regulation)(Brief article)
January 4, 2007... The US Department of Homeland Security proposed new safety regulations at the end of December for the nation's highest-risk chemical plants. The proposal calls for Homeland Security officials to evaluate security plans for facilities,...

Panel to review Iran deal.(Legislation/Regulation)(Brief article)
January 4, 2007... A US Congressional committee is poised to examine a $16 billion preliminary deal between China's state-owned company and Iran to develop a giant Iranian gas field. Tom Lantos (D-Calif.), incoming chairman of the House of Representatives...

FERC clears MoBay storage plan.(Natural Gas)(Federal Energy Regulatory Commission)(Brief article)
January 4, 2007... The Federal Energy Regulatory Commission (FERC) has given its approval to a plan by Falcon Gas Storage to build its 50 Bcf MoBay Storage Hub in southern Alabama. The company said it was notified Tuesday of FERC's decision. Houston-based...

ICE sets '06 volume record.(Oil & Gas Markets)(IntercontinentalExchange)(Brief article)
January 4, 2007... Electronic energy marketplace IntercontinentalExchange (ICE) said on Wednesday that ICE Futures reached record annual volume for the ninth consecutive year in 2006, with traded contract volume exceeding 2005 levels by more than 120%. ...

Texas Gas holds open season.(Pipelines)(Texas Gas Transmission)(Brief article)
January 4, 2007... Texas Gas Transmission is conducting a binding open season for capacity on its previously announced Fayetteville and Greenville laterals which will transport natural gas from the Fayetteville Shale play in Arkansas. The open season began...

Clarke steps down from BLM.(Personnel)(Bureau of Land Management)(Kathleen Clarke )(Brief article)
January 4, 2007... Bureau of Land Management (BLM) Director Kathleen Clarke quietly announced last week that she will be stepping down from her post. Clarke, the first woman to ever hold the position, has led the oft-embattled agency since January 2002. Prior to...

Stock market scorecard.(Statistical table)
January 4, 2007... Integrated Close 1-Day % Chg. Majors 1/3 Chg. % Chg. 10-Day 52-Wk YTD Repsol YPF 34.59 +0.09 +0.26% -2.15% +17.61% +0.26% Eni 66.72 -0.56 -0.83 ...

Big oil repudiates Democrats' vision.
January 5, 2007... As Democrats put the finishing touches on an energy legislative package that would roll back tax breaks for the oil industry, industry trade groups are in overdrive to explain the downsides. Officials at the American Petroleum Institute...

Conoco update spurs investor concern.(financial report)(ConocoPhillips)(Financial report)
January 5, 2007... ConocoPhillips has given investors an early glimpse of its fourth-quarter results, with the Houston-based oil major announcing Thursday it expects flat production as well as lower oil prices and refining margins to impact profits in the...

Oil sector behemoths outperform small firms in '06.(sales and revenue)
January 5, 2007... Forget small is beautiful. Big was better for energy investors in 2006, with the giants of the industry outperforming their smaller brethren for the first time in several years, according to a year-end review by energy research firm John S....

Nymex crude extends losses, down 9% in new year.(New York Mercantile Exchange)
January 5, 2007... Crude futures on the New York Mercantile Exchange (Nymex) tumbled for the second consecutive day on mild weather, fund selling and an improving supply picture. Moderate temperatures in the US Northeast, the country's main heating oil market,...

Daily oil & gas price review: prices for Thursday, January 4, 2007.(Statistical table)
January 5, 2007... Crude Oil [GRAPHIC OMITTED] US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -2.54 51.28 54.72 58.05 LLS (St. James) -2.54 57.98 61.52 ...

EIA weekly statistics: for week ended December 29, 2006.(Energy Information Administration)(Statistical table)
January 5, 2007... US Crude Oil: Stocks (1) Current Previous (millions of bbl) Week Week Chg. PADD 1 14.6 14.6 0.0% PADD 2 72.5 73.0 -0.7% Cushing, OK 26.1 ...

Well confirms Hess Pony find.(Hess)(Brief article)
January 5, 2007... Hess has completed drilling a sidetrack well in the deepwater Gulf of Mexico that confirms the company is sitting on a substantial amount of oil reserves on Green Canyon Block 468. The sidetrack well on the company's Pony prospect confirms...

Senate Democrats make energy issues top priority.
January 5, 2007... Senate Democrats on Thursday made US oil dependence and global warming among their top 10 priority items to tackle, with action on both issues expected early in the year. As the 110th Congress convened Thursday, Senate Majority Leader...

Shell plans Deer Park work.
January 5, 2007... A big maintenance turnaround will reduce operations at Deer Park Refining in Texas for a month, starting next week, Shell Oil said Thursday. Plans are to shut down a 270,000-b/d distiller, a 67,000-b/d selective hydrocracker and an...

Soaring ethanol capacity Sparks food supply worries.
January 5, 2007... Lester Brown, head of the Earth Policy Institute (EPI), called for a moratorium on licensing new ethanol distilleries in the US during a media briefing Thursday, saying a "time out" was needed so that stakeholders could take stock of the impact...

Chamber pushes 'commonsense' approach to energy reform.(Chamber of Commerce)
January 5, 2007... The US Chamber of Commerce is launching a major policy initiative to lobby the newly inducted 110th Congress for a "commonsense" approach to the nation's energy issues. With Democrats taking control of Congress for the first time in 12...

PetroChina launches refinery project to tap Sudanese crude.
January 5, 2007... China's PetroChina held a foundation-laying ceremony last weekend for its refinery project at Qinzhou, which will rely heavily on equity crude supplies from Sudan. But there was no mention of rival refiner Sinopec, which earlier expressed an...

Comstock hikes '07 budget.(Corporate News)(Comstock Resources)(Brief article)
January 5, 2007... Comstock Resources announced Thursday an 11% increase in its budget for development and exploration activities for 2007, boosting spending to $478 million in 2007, from $431 million in 2006. The 2007 budget includes capital expenditures of...

BG orders LNG tankers.(British Petroleum Company PLC)(liquefied natural gas)(contracts)(Brief article)
January 5, 2007... The UK's BG said Thursday it had signed an agreement with South Korea's Samsung Heavy Industries (SHI) for the delivery of two newbuild LNG ships. Each will be able to carry 170,000 cubic meters of LNG, and will be delivered in 2010. The...

Peru liquids output dips.(Latin America)(production data)(Brief article)
January 5, 2007... Peru's production of oil and other hydrocarbon liquids declined in December by nearly 1%, averaging 119,395 b/d. Maintenance work at the Camisea gas field separation plant led to the decline, according to state agency Perupetro. ...

BG sells Trinidad gas.(Latin America)(British Petroleum Company PLC)(contracts)(Brief article)
January 5, 2007... The UK's BG said Thursday that it and partner Chevron had entered into a heads of agreement with National Gas Co. of Trinidad and Tobago for the supply of 220 MMcf/d of natural gas for up to 15 years, starting January 2009. The gas will be used...

Conoco, EnCana close deal.(Mergers & Acquisitions)(ConocoPhillips)(Brief article)
January 5, 2007... Canada's EnCana and US oil giant ConocoPhillips have closed their deal to create an integrated assets unit, EnCana said on Wednesday. The agreement, first announced in October, will generate pre-tax cash flow in the range of $550 million...

Main Pass LNG gets OK.(Natural Gas)(McMoRan Exploration)(liquefied natural gas)(Brief article)
January 5, 2007... The US Maritime Administration has given the green light to McMoRan Exploration for its $1 billion Main Pass Energy Hub, a LNG receiving and storage terminal that will be located in the Gulf of Mexico about 37 miles to the east of Venice,...

Saudis cut oil prices to US.(Oil & Gas Markets)(Saudi Arabia)(Brief article)
January 5, 2007... Saudi Arabia, the world's top oil exporter, adjusted its term contract prices for February crude exports by easing by large margins the differentials for all grades sold to US lifters, effectively cutting the official selling prices for its...

Enterprise projects on track.(Pipelines)(Enterprise Products)(Brief article)
January 5, 2007... Houston-based Enterprise Products continues to expand its midstream empire in the greater Houston Ship Channel market through construction and enlargement of existing products pipelines and related facilities. The latest project is an...

Stock market scorecard.(Statistical table)
January 5, 2007... Integrated Close 1-Day % Chg. Majors 1/4 Chg. % Chg. 10-Day 52-Wk YTD Hess 47.37 -0.22 -0.46% -6.35% +6.35% -4.44% Repsol YPF 34.35 -0.24 -0.69 -2.64...

Saudi crude price differentials.(Statistical table)(Brief article)
January 5, 2007... February barrels on an f.o.b. basis ($/bbl) US Europe Asia Basis WTI Brent Oman/Dubai Extra Light Feb. -$4.30 -$2.70 +3.15 Jan. -2.30 -2.20 +3.45 Arab Light Feb. ...

Even Republicans step up on Cafe legislation.(Corporate Average Fuel Economy)
January 8, 2007... Oil prices may be sliding, but a flood of bills from both Republicans and Democrats on the opening day of Congress last week aggressively seek to reduce US oil dependence. Even a die-hard drilling supporter like Alaska Republican Sen. Ted...

Bill tabled to protect ANWR from drilling.
January 8, 2007... Democrats in the US House of Representatives wasted little time in throwing into reverse efforts to open one of the nation's most controversial regions to oil drilling. Rep. Ed Markey (D-Mass.) introduced legislation Thursday, the first...

Shift to cold weather may spark short-covering gas rally.
January 8, 2007... Dueling weather forecasts calling for either notably warmer weather or possibly below-freezing temperatures in the Northeast could give natural gas market bulls a stage to launch prices stoutly higher or push them into a classic bear trap as...

Rumors of hedge fund meltdown swirl as crude tanks.
January 8, 2007... Crude futures on the New York Mercantile Exchange (Nymex) started off the New Year by getting pummeled. In a two-day span, prices fell by almost 10% on warm weather in the US Northeast, fund liquidation and growing product stocks (OD Jan. 5,...

Daily oil & gas price review: prices for Friday, January 5, 2007.(Statistical table)
January 8, 2007... Crude Oil [GRAPHIC OMITTED] US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +0.18 51.46 53.85 57.97 LLS (St. James) +0.23 58.21 60.60 ...

US spot crudes mixed as traders search for New Year market signals.
January 8, 2007... US spot crudes were generally mixed in quiet trading during the first week of 2007 as traders returned to work after the holidays. Mars and Poseidon traded a little stronger, while Light Louisiana Sweet and Heavy Louisiana Sweet were slightly...

Baker Hughes drilling report.(Brief article)
January 8, 2007... US Rig Count Falls by 15. The number of drilling rigs searching for oil and gas in the US fell by 15 to 1,695 last week, Baker Hughes said Friday. During the same week last year, there were 1,464 rigs at work. The number of rigs...

Global oil demand growth loses momentum in Q4.
January 8, 2007... The fourth quarter of 2006 was supposed to put global demand back on a road of firm growth, but warmer-than-normal winter weather and a deadpan consumer reaction to lower oil prices last fall were two barriers blocking the revival. ...

Indonesia wants more Natuna.(International)(Natuna D-Alpha gas block)(Brief article)
January 8, 2007... Indonesia's energy minister said on Friday the government wants state oil firm Pertamina to have a larger share in the disputed Natuna D-Alpha gas block, as the deadline for development of the field looms. Pertamina has a 24% stake in the...

Petrobras sets refining high.(Latin America)(Petroleo Brasileiro S.A)(Brief article)
January 8, 2007... State-controlled Petrobras refined a record 1.78 million b/d of crude oil in Brazil in 2006, up 1.5% compared to 2005, the company said in a statement. The company, which last year attained crude self-sufficiency of 1.8 million b/d, is...

Petrobras to exchange debt.(Latin America)(Petroleo Brasileiro S.A.)(Brief article)
January 8, 2007... Brazil's state-owned oil company Petrobras said Friday it plans to exchange up to $500 million in notes with new debt or cash payments to investors. Petrobras wants to exchange five series of notes for debt maturing in 2016 and paying a...

Pemex appoints two execs.(Latin America)(Petroleos Mexicanos)(appointments)(Brief article)
January 8, 2007... Mexico's state-controlled oil and gas monopoly, Pemex, named Roberto Ortega Lomelin as a member of the company's executive management team. Also joining Pemex is Yolanda Valladares Valle, who will oversee social investment for the company....

US firm in Peru ethanol plan.(Latin America)(Brief article)
January 8, 2007... US energy company Maple Gas plans to invest about $100 million in a sugar cane-based ethanol project in northern Peru, according to the country's investment promotion agency. Over the next year Dallas-based Maple, which is also developing...

Ecuador reaps Oxy field profits.(Latin America)(Petroleos del Ecuador)(Brief article)
January 8, 2007... Ecuador earned $1.1 billion last year from the sale of 22.1 million bbl of oil extracted from the former oil fields of Occidental Petroleum, the state unit that operates the fields said on Friday. State oil company Petroecuador took over...