The Oil Daily articles from January 2009

The Oil Daily archives from January 2009

Brazil will use wealth fund to boost economy.
January 2, 2009... Brazil's Congress has approved legislation to create a sovereign wealth fund that could eventually use revenues from the country's vast subsalt oil reserves to fund investments abroad. However, with major subsalt production some ten years...

Late snag hits Alaska December oil output.
January 2, 2009... What had started to look like a pretty good December for Alaskan crude production hit a major snag near the end of the month when storms and a refinery outage pushed tanks at the port of Valdez up to their brims and flows on the trans-Alaskan...

Standard & Poor's sees stable credit ratings for oil industry.
January 2, 2009... Despite the gloomy credit and commodity price environment, ratings agency Standard & Poor's expects the ratings outlook for the oil and gas sector to remain "relatively stable" over the next year. Companies across the oil and gas industry...

Crude posts large gain on final trading day of volatile year.
January 2, 2009... Crude futures ended the year on a high note, surging on a glimmer of hope that the worst of the decline in oil demand would be confined to 2008. Light, sweet crude for February delivery settled $5.57 or 14.3%, higher at $44.60 a barrel on...

Daily oil & gas price review.(Statistical table)
January 2, 2009... Daily Oil & Gas Price Review Prices for Wednesday, December 31, 2008 US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +0.41 37.85 36.22 42.88 LLS (St....

EIA weekly statistics.(Statistical table)
January 2, 2009... EIA Weekly Statistics For Week Ended December 26, 2008 US Crude Oil: Stocks (1) (millions of bbl) Current Previous Week Week Chg. PADD 1 13.4 13.3 0.8% PADD 2 ...

Iraq formally launches second postwar bid round, two giant fields on offer.
January 2, 2009... Iraq formally launched the country's second postwar bid round on Wednesday, one week after the oil ministry approved a list of 14 oil and two gas fields to be offered to international companies for development. Oil Minister Hussein...

Russia-Ukraine gas talks fail.(Top Briefs)(Brief article)
January 2, 2009... Russia looked set to stop supplying Ukraine with gas on Thursday after talks aimed at resolving a dispute over unpaid gas bills and transit terms ended in failure late Wednesday. The failure could lead to a repeat of the gas shortages that hit...

Ausam files for bankruptcy.(Corporate News)(Ausam Energy Corp.)(Brief article)
January 2, 2009... Canadian oil and gas company Ausam Energy said on Wednesday it had filed for Chapter 11 bankruptcy protection in the US. The company, which holds a portfolio of oil and gas leases and prospects in Texas, Louisiana, Mississippi, Alabama and...

Australia field back to normal.(International)(Origin Energy)(Brief article)
January 2, 2009... Australia's Origin Energy said Wednesday that sales gas production from its offshore BassGas venture has returned to normal. Output was cut by two-thirds in November after the Yolla 4 well was shut in following the automatic closure of a...

ONGC seals Imperial deal.(International)(Oil and Natural Gas Corporation Ltd.)(Imperial Energy Corporation plc.)(Brief article)
January 2, 2009... India's Oil and Natural Gas Corp. (ONGC) said Wednesday that almost 97% of shareholders in London-listed Imperial Energy had accepted its [pounds sterling]12.50 ($18.10) per share takeover offer by the Tuesday deadline and that the offer is now...

Peru sees higher oil investment.(Latin America)(Brief article)
January 2, 2009... Peru, working to become an exporter of oil and natural gas, should see investment in its petroleum sector rise to $1.27 billion in 2009, the government said on Tuesday. Peru signed some 100 exploration and production contracts in 2008 for...

Shell Australia plant down.(Refining)(Royal Dutch-Shell PLC)(Brief article)
January 2, 2009... Royal Dutch Shell said Wednesday that the temporary shutdown of its Clyde refinery in Australia will extend into 2009 due to ongoing maintenance, Reuters reported. The 85,000 b/d refinery in Sydney has been off line since the end of...

Sibir buys Moscow network.(Refining)(Sibir Energy PLC acquired Mosnefteprodukt)(Brief article)
January 2, 2009... UK-listed Sibir Energy has spent $34.9 million buying 18.4% of Russian fuel retailer Mosnefteprodukt from Richard Enterprises, taking its stake to 70%. Mosnefteprodukt operates the Nefto brand retail network in and around Moscow. Sibir said it...

Valero restarts Paulsboro FCC.(Refining)(Valero Energy Corp.)(fluid catalytic cracker)(Brief article)
January 2, 2009... Valero Energy, the largest US refiner, said it restarted on Wednesday a 55,000 b/d gasoline-making fluid catalytic cracker at its refinery in Paulsboro, New Jersey, after repairs. "The repairs are completed... As of today, the FCC at...

US to resume strategic stockpiling of oil.
January 5, 2009... Seeking to take advantage of the steep drop in oil prices since last summer, the US Department of Energy (DOE) said on Friday it will start buying crude oil again in the New Year to top up the nation's Strategic Petroleum Reserve (SPR). ...

Refining industry faces tough road ahead.
January 5, 2009... The decline in crude prices has strengthened US refining margins, but the outlook still looks bleak for the industry. Refiners are cutting back on output--especially gasoline--some are closing down plants, while others are filing for...

Panel expected to advocate gasoline tax hike to pay for roads.
January 5, 2009... A federal panel that oversees transportation funding is expected to recommend an increase in the national gasoline tax in the next few weeks, but the idea may not receive a favorable reception from the incoming administration of President-elect...

Crude prices start New Year on strong note, trading up to $46.(Brief article)
January 5, 2009... US crude futures started off the New Year on a down note, but they later rallied to close up on the day. Evidence that Opec is cutting back production, the Russia-Ukraine gas spat, tensions in the Middle East and solid gains in the equity...

Daily oil & gas price review.(Statistical table)
January 5, 2009... Daily Oil & Gas Price Review Prices for Friday, January 2, 2009 US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +7.11 44.96 38.70 42.31 LLS (St. James)...

Forecasts of frigid January weather push natural gas futures above $6.
January 5, 2009... Forecasts of cold January weather, light end-of-year volumes, and high emotions regarding escalating geopolitical conflicts all jconverged to drive Nymex February gas futures back above $6 in intraday trading on the first official trading day...

Moscow cuts natural gas supplies to Ukraine.(Brief article)
January 5, 2009... Europe appears to be in no immediate danger from disruptions to its gas supplies from the spat between Russia and Ukraine that ushered in the New Year. "There is no panic. Temperatures are averagely cold across Europe and storages are full...

Baker Hughes drilling report.(Statistical data)
January 5, 2009... US Rig Count Rises by 98 The number of drilling rigs searching for oil and gas in the US fell by 98 last week to 1,623, Baker Hughes said. During the same week last year, there were 1,774 rigs at work. The number of rigs searching for...

Bakken Shale play looks set to thrive despite fall in oil prices.
January 5, 2009... The oil-bearing Bakken Shale formation, which straddles North Dakota and Montana, has created quite a bit of buzz in the US upstream industry following a 25-fold increase in the resource estimate for the play last year. And although crude...

LyondellBasell mulls bankruptcy.(Corporate News)(Brief article)
January 5, 2009... LyondellBasell--the world's third-largest petrochemical company--is considering filing for Chapter 11 bankruptcy protection as it tries to restructure its debt, a company spokeswoman said on Wednesday. "As we have said publicly, we are...

El Paso obtains credit facility.(Finance)(Brief article)
January 5, 2009... El Paso said its wholly owned subsidiary, El Paso Exploration & Production, has obtained a $300 million secured revolving credit facility. The 364-day borrowing base facility is collateralized by 0.4 Tcfe of proved natural gas and oil reserves....

Gazprom may return block.(International)(Brief article)
January 5, 2009... After several failed attempts to attract foreign partners for the Lopukhovsky Block offshore Sakhalin, Gazprom Neft is considering returning the license for the acreage to the Russian Natural Resources Ministry's Federal Subsoil Usage Agency...

Japan's crude stocks rise.(International)(Brief article)
January 5, 2009... Japanese product stocks dipped by 0.3% to 89.43 million bbl in the week ended Dec. 20, according to the Petroleum Association of Japan. Crude stocks rose by 5.3% to 111.02 million bbl while refinery runs edged up to 84% of capacity, or 4.11...

Lundin spuds Norway well.(International)(Lundin Petroleum AB)(Brief article)
January 5, 2009... Swedish explorer Lundin Petroleum has spudded well 2/5-14S with planned sidetrack 2/5-14A on Block 2/5, in production license 006C off Norway. The well is targeting the Hyme prospect, while the sidetrack is an appraisal well on the South East...

EU forces see off pirate attack.(International)(Brief article)
January 5, 2009... European Union forces in the Gulf of Aden Friday beat off a Somali pirate attack on a Greek-flagged oil tanker, the merchant marine ministry in Athens reported. The tanker Kriti Episkopi, carrying a crew of seven Greeks, came under attack...

Interoil finds gas in PNG.(International)(Papua New Guinea)(Brief article)
January 5, 2009... Papua New Guinea-based explorer InterOil said its Antelope-1 exploration well has reached the top of its target reservoir and has some gas shows. InterOil is trying to prove up its Elk and Antelope gas reserves, which it will use to supply...

Stock market scorecard.(International)(Statistical table)
January 5, 2009... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 1/2 Chg. % Chg. 10-Day 52-Wk YTD Petro-Canada 23.81 +1.92 +8.77% +6.77% -55.59% +8.77% Hess ...

Fog closes US Gulf ports.(Oil & Gas Markets)(Brief article)
January 5, 2009... Fog has closed Houston and other ports along the central US Gulf Coast, impeding shipments of oil, petroleum products and other goods, officials said Friday. The Houston Ship Channel, serving Houston, Galveston and Texas City; Sabine Pass...

Shell units down for work.(Refining)(Shell Oil Co.)(Brief article)
January 5, 2009... Shell has shut down a selective hydrocracking unit (SHCU) and a hydrogen plant for a 10-day regular maintenance at its Deer Park refinery in Texas, the company said in a filing. "Various pieces of equipment will be cleaned and opened for...

Valero FCCs down indefinitely.(Refining)(Valero Energy)(fluid catalytic cracker)(Brief article)
January 5, 2009... Valero Energy, the largest US refiner, said on Wednesday that downed fluid catalytic cracker units at its refineries in St. Charles, Louisiana, and Corpus Christi, Texas, will be out indefinitely. "Both are still down; St. Charles is down for...

Energy stocks take a bruising in 2008.(Statistical data)
January 6, 2009... Energy stocks were battered and bruised in 2008 as the broader stock market suffered its worst performance in over 70 years. Of the 13 integrated oil companies that make up the International Petroleum Finance (IPF) index, seven outperformed the...

High oil prices buoy Petroleos de Venezuela.(Financial report)
January 6, 2009... Venezuela's state oil company reported a big jump in earnings during the first nine months of last year, despite an increase in its contributions to a government-run national development fund. Petroleos de Venezuela (PDV) posted a net...

As China's demand for oil slows, retail price war breaks out.
January 6, 2009... Little more than two weeks after China cut benchmark prices of transport fuel, price wars have broken out at service stations as refiners struggle to reduce record-high levels of product stocks, which have swollen as growth in oil demand slows...

Oil edges closer to $50 on geopolitical tension, Opec compliance.(Organization of the Petroleum Exporting Countries)(Brief article)
January 6, 2009... Oil prices rose Monday on geopolitical concerns and signs of greater compliance with Opec production cuts. The move to the upside came despite plummeting US car sales, losses for equities and a strengthening of the US dollar versus the euro....

Daily oil & gas price review.(Statistical table)
January 6, 2009... Daily Oil & Gas Price Review Prices for Monday, January 5, 2009 US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +1.35 46.31 40.88 39.28 LLS (St. James)...

Europe's greenhouse gas measures could hit market for diesel cars.(European Union)
January 6, 2009... The European Union's drive to combat climate change with new laws and environmental regulations could hit the diesel car market across Europe. Technological advances continue to make passenger cars more fuel-efficient. New hybrid...

Heating degree days.(Statistical table)
January 6, 2009... Heating Degree Days For the week of January 3, 2009 Week Dev Cum Dev State/City (PADD) Week From From Cum From From From Total Norm Year Total Norm...

Quake spares Tangguh LNG.(BP Indonesia)(liquefied natural gas)(Brief article)
January 6, 2009... The BP-led Tangguh LNG project in the Indonesian province of Papua remains on track to deliver its first commercial cargo in the second quarter of 2009, after escaping unscathed from a series of earthquakes in the region over the weekend. ...

European Union sends envoys to defuse Russia-Ukraine gas dispute.
January 6, 2009... The European Union agreed Monday to send envoys to meet the warring sides as tension mounted in the dispute between Russia and Ukraine that erupted last Thursday when Moscow cut off gas supplies to Kiev in a row over debt and pricing (OD...

Chesapeake raises more cash through VPP.(Chesapeake Energy Corp.)(volumetric production payment)(Argonaut Private Equity)(Brief article)
January 6, 2009... Chesapeake Energy said Monday it has raised $412 million from the sale of natural gas output from certain assets in the Anadarko and Arkoma basins in the south-central US to Argonaut Private Equity. The divested properties have current net...

Blast damages EnCana gas site.(Corporate News)(Brief article)
January 6, 2009... Police are investigating what appears to be the fourth bombing of an EnCana natural gas facility in the Western Canadian province of British Columbia, authorities said on Monday. The Royal Canadian Mounted Police said workers for the...

Comstock sets E&P budget.(Exploration & Production)(Comstock Resources Inc.)(Brief article)
January 6, 2009... Comstock Resources said it plans to spend $450 million in 2009 on development and exploration activities. Comstock expects to drill 76 gross wells (55.9 net wells) in 2009, down from 140 gross wells (77.1 net wells) in 2008. The 2009...

Gastar scores in Bossier play.(Exploration & Production)(Gastar Exploration Ltd.)(Brief article)
January 6, 2009... Gastar Exploration said it has successfully completed its best producing well to date, the Belin No. 1, which was completed in two lower Bossier zones in East Texas. The well is flowing at a combined initial gross sales rate of 41.2 MMcf/d. ...

Oman projects deficit.(International)(Brief article)
January 6, 2009... Oman is forecasting a budget deficit of around 800 million Omani rials ($2 billion) this year due to a projected increase in government spending despite the recent fall in oil prices, a top government official said over the weekend. The...

Pertamina sets bigger budget.(International)(Pertamina Humas P.T.)(Brief article)
January 6, 2009... Indonesian state oil company Pertamina plans to invest 19 trillion rupiah ($1.72 billion) in 2009--12% up on last year--of which roughly $995 million will be spent upstream. The rest will be allocated to its downstream, marketing and other...

Japan and China clash.(International)(Brief article)
January 6, 2009... Japan and China have again clashed over a gas field near a disputed maritime border area in the East China Sea. Over the weekend, Tokyo protested Beijing's continuing to explore near the Tianwaitian field--known as Kashi in Japan. It said...

Nigerian oil vessel seized.(International)(Groupe Bourbon S.A.)(Brief article)
January 6, 2009... French oil services group Bourbon said Monday that Nigerian gunmen on Sunday hijacked one of its vessels off the southern Niger Delta and are holding nine of the crew hostage. The Bourbon Leda was en route to Royal Dutch Shell's deepwater...

Stock market scorecard.(NEWS ALERT)(Statistical table)
January 6, 2009... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 1/5 Chg. % Chg. 10-Day 52-Wk YTD Petro-Canada 25.37 +1.56 +6.55% +15.11% -52.69% +15.90% Statoil ...

Petrobras shuts Brazil platform.(Latin America)(Petroleo Brasileiro S.A.)(Brief article)
January 6, 2009... Brazilian energy company Petrobras said on Monday it had halted production at a platform off the coast of Espirito Santo state after an accident that killed one worker and injured two more. The company said it expected to resume production...

Republicans float stimulus plan.(Legislation/Regulation)(Brief article)
January 6, 2009... House Republicans will promote an "all of the above" energy strategy this week as part of talks with President-elect Barack Obama and Congressional Democrats on a broad economic recovery plan. House Minority Leader John Boehner said the...

Eight die in helicopter crash.(Offshore)(Brief article)
January 6, 2009... A PHI helicopter, en route to an offshore oil platform crashed Sunday in southern Terrebonne Parish, Louisiana, killing eight of the nine people onboard. PHI did not identify the platform the aircraft was headed to nor the companies that the...

Saudis mostly lift prices.(Oil & Gas Markets)(Saudi Arabia)(Statistical table)(Brief article)
January 6, 2009... Saudi Arabia has effectively made its heavier crudes more expensive relative to lighter grades for cargoes lifting in February. The Saudis followed market trends in the US, Europe and Asia, and took into account that the price for residual...

TGS shoots DeSoto survey.(Oil Field Service)(TGS Nopec)(DeSoto Canyon)(Brief article)
January 6, 2009... Seismic firm TGS-Nopec said it is acquiring a new multi-client 3D survey in the DeSoto Canyon area of the Gulf of Mexico. Named "Hernando", the new survey covers 300 blocks (6,900 square kilometers). The MV BOS Arctic has already acquired...

Spot tanker fixtures rise.(Brief article)
January 6, 2009... Spot dirty tanker fixtures--tankers carrying crude oil or "dirty" petroleum products such as fuel oil--were up slightly last year from 2007 levels, according to a recent report from consultancy Poten & Partners. Poten reports 9,587 spot...

Sours remain refiners' crude of choice.
January 7, 2009... Sour crudes have remained relatively strong in the US spot market in recent weeks as higher fuel oil prices contributed to healthy middle distillate refining margins. Sour crudes also drew support from Opec's earlier production cuts and...

Citgo suspends US heating oil program.(Citgo Petroleum Corp.)
January 7, 2009... Citgo, the Houston-based subsidiary of Petroleos de Venezuela, has suspended donations of heating oil to poor Americans, underlining the Venezuelan government's struggle to maintain high levels of domestic and international spending following a...

Rig count continues to fall as operators adjust to lower prices.
January 7, 2009... The number of oil and gas rigs at work in the US fell by nearly 100 to 1,623 last week, mainly as a result of a dramatic reduction in onshore natural gas drilling activity, according to the latest data from oilfield services firm Baker Hughes....

Nymex crude futures climb above $50 but fail to hold gains.(Brief article)
January 7, 2009... Crude oil initially traded higher on Tuesday, climbing above $50 per barrel on signs that Opec members are implementing their agreement to cut production. But prices moved lower later in the day in response to news of further economic...

Daily oil & gas price review.(Statistical table)
January 7, 2009... Daily Oil & Gas Price Review Prices for Tuesday, January 6, 2009 US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +0.24 46.55 42.62 36.60 LLS (St. James)...

Moscow and Kiev trade accusations as natural gas crisis escalates.(OAO Gazprom)
January 7, 2009... As ripples from the Russia-Ukraine gas dispute spread across Europe, Russian gas giant Gazprom on Tuesday accused Ukraine of holding Russia and Europe "hostage" by blocking Russian exports. Analysts said pressure was building on the European...

European product prices may get a boost from Russia-Ukraine spat.
January 7, 2009... As ripples from the Russia-Ukraine gas dispute spread across Europe, a number of countries are suffering major disruptions to their Russian gas supplies. Bulgaria, Turkey, Greece, Macedonia, Croatia, Hungary and Bosnia said Russian gas...

South Korea's KNOC seeks acquisitions to boost oil output.(Korea National Oil Corp.)
January 7, 2009... Korea National Oil Corp. (KNOC) is on the hunt for acquisitions this year, starting with a Latin American firm in the first quarter. A spokesman for the Korean state company said it wants to follow that up with much bigger purchases designed to...

New Year brings little cheer for LNG shippers.(liquefied natural gas)
January 7, 2009... After years of limited supply, the LNG shipping industry was supposed to thrive in 2009, on the back of a surge in output from new liquefaction plants. However, the global recession and subsequent demand destruction have reversed the trend...

Goodrich scores in Haynesville.(Exploration & Production)(Brief article)
January 7, 2009... Goodrich Petroleum said its horizontal Haynesville Shale well, the Chesapeake Energy-operated Holland 17H-1, tested at a rate of 14.5 MMcf/d. The well was drilled to 16,200 feet, had a horizontal displacement of 4,400 feet (3,800 feet...

Northern gets credit facility.(Finance)(Northern Oil and Gas)(Brief article)
January 7, 2009... Northern Oil and Gas said it has signed a letter of intent with a financial institution for a senior secured, reserve-based revolving credit facility providing up to $25 million of financing for future drilling activities. As proposed, $15...

Weatherford sells $1.25B in bonds.(Finance)(Weatherford International Inc.)(Brief article)
January 7, 2009... Weatherford International on Monday sold $1.25 billion of 10-year and 30-year notes, according to International Financing Review (IFR). The oilfield services company sold $1 billion of 10-year notes, priced at 99.495 to yield 723 basis...

Devon issues notes worth $1.2B.(Finance)(Devon Energy Corp.)(Brief article)
January 7, 2009... Devon Energy on Tuesday launched a $1.2 billion note sale in two parts, according to International Financing Review. The sale includes $500 million in five-year notes expected to yield 4.00 percentage points over US Treasuries and $750...

Ethiopian rebels issue warning.(International)(Petroliam Nasional Bhd.)(Brief article)
January 7, 2009... Rebels in Ethiopia have warned Malaysia's Petronas not to pursue oil activity in the remote Ogaden region in the southeast of the country. The Ogaden National Liberation Front (ONLF) said the state-owned firm should avoid Ogaden or risk being...

Exxon plans Philippine wells.(International)(Exxon Mobil Corp.)(Brief article)
January 7, 2009... US supermajor Exxon Mobil will spend up to $100 million this year drilling deepwater wells off the Philippines. It plans to spud two wells with minnow Mitra Energy in Block SC56 in the Sandakan Basin, off the northeast coast of Borneo. ...

Black Sea sale delayed.(International)(Austrian OMV)(US Toreador Resources)(Brief article)
January 7, 2009... Turkey's Petrol Ofisi, 34% owned by Austrian OMV, is to meet with US Toreador Resources on Friday to discuss the sale of part of Toreador's 36.75% stake in the South Akcakoca subbasin, a gas development in the Turkish Black Sea. The sides...

Apache inks Australia gas deal.(International)(Citic Pacific Mining)(Brief article)
January 7, 2009... Apache said it has signed a contract to supply natural gas from the Reindeer Field to Citic Pacific's Sino Iron project in Western Australia. Apache and its Reindeer joint venture partner Santos have agreed to supply 154 Bcf over seven...

Chevron lifts force majeure.(International)(Chevron Nigeria Ltd.)(Brief article)
January 7, 2009... US energy giant Chevron said on Tuesday it had lifted a force majeure on oil output from its Escravos terminal in Nigeria a month and a half after saboteurs forced it to shut in around 90,000 b/d. The company said it had lifted the measure,...

Stock market scorecard.(International)(Statistical table)
January 7, 2009... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 1/6 Chg. % Chg. 10-Day 52-Wk YTD Statoil 18.64 +0.64 +3.56% +20.10% -40.33% +11.88% Petro-Canada ...

Pemex awards Chicontepec work.(Latin America)(Petroleos Mexicanos)(Brief article)
January 7, 2009... Mexican state oil monopoly Pemex said it awarded four contracts worth 2.08 billion pesos ($156 million) for the construction of 344 drilling pads and access roads in the Chicontepec region. Pemex said that work on the contracts, which were...

Argentina probes TGN's books.(Latin America)(Brief article)
January 7, 2009... Argentina's government filed a legal complaint on Monday alleging "grave irregularities" against natural gas distributor TGN, a week after appointing a temporary co-administrator to the company. TGN defaulted on a debt payment of some $22...

Study says 'McMansions' waste energy.(Brief article)
January 7, 2009... Over-consumption of energy by US consumers mainly reflects recent trends toward larger homes and smaller households, according to a new study by SMR Research Consumption. Single-person households have grown at triple the rate of the...

TGS gathers Ghana seismic.(Oil Field Service)(TGS-Nopec Geophysical Co.)(Brief article)
January 7, 2009... TGS-Nopec Geophysical (TGS) has launched a multiclient seismic survey off Ghana involving the acquisition of 8,600 km of 2-D seismic, gravity and magnetic data. The program is linked to the recent giant Jubilee find off western Ghana and...

New Boss for BP America.(Personnel)(Lamar McKay)(Brief article)
January 7, 2009... BP said Tuesday that Lamar McKay will succeed Robert Malone as Chairman and President of BP America. Malone, 56, is retiring. McKay, who most recently helped set up a new corporate governance model for BP's Russian joint venture, TNK-BP,...

Malaysia refinery proposed.(Refining)(Brief article)
January 7, 2009... The state government of Johor, in southern Malaysia, is evaluating a proposal from an unidentified international company to build a 17 billion ringgit ($4.8 billion) refinery, the local Bernama news agency said. Minister Datuk Abdul Ghani...