The Oil Daily articles from July 2008

The Oil Daily archives from July 2008

Iraq unveils first post-war licensing round.
July 1, 2008... Iraq has opened the way for major international investment in its massive oil reserves for the first time in decades, announcing Monday that six oil fields and two gas fields will be offered in its first licensing round since the US-led...

Oxy invests to boost West Texas oil output.(Occidental Petroleum Corp.)
July 1, 2008... Occidental Petroleum plans to spend $1.1 billion to build a gas processing plant and related pipeline infrastructure that will provide carbon dioxide ([CO.sub.2]) for enhanced recovery in the company's West Texas oil operations. Oxy...

Dominion inks Appalachian Basin Shale deal with Antero Resources.(Dominion Resources Inc.)
July 1, 2008... Dominion Resources said on Monday it has signed a $552 million deal to transfer drilling rights on a large portion of its Marcellus Shale leasehold in the Appalachian Basin to privately owned Antero Resources. The deal applies to drilling...

Demand concerns cause crude prices to retreat from record highs.(Brief article)
July 1, 2008... US crude prices spent most of Monday sliding back from new highs that were set overnight on expectations of a further fall in the value of the US dollar and a ratcheting up of rhetoric between regional rivals Israel and Iran. Nymex crude...

Daily oil & gas price review.(Statistical table)
July 1, 2008... Daily Oil & Gas Price Review Prices for Monday, June 30, 2008 US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +0.66 137.51 134.66 123.61 LLS (St. James) ...

Brazil signs memorandum of understanding to import Venezuela LNG.(liquefied natural gas)
July 1, 2008... Venezuela and Brazil signed a memorandum of understanding on Friday that opens the door for Brazil to import liquefied natural gas (LNG) in the future from Venezuela's Delta Caribe LNG project. The agreement, signed by Venezuelan President...

Soaring prices dominate World Petroleum Congress in Madrid.
July 1, 2008... Despite its title--"A World in Transition: Delivering Energy for Sustainable Growth"--the 19th World Petroleum Congress (WPC) that kicked off in Madrid on Monday looks set to be dominated by debates over record-high oil prices and the role...

White House said to seek changes in EPA document on emissions.(United States. Environmental Protection Agency)
July 1, 2008... The White House is locked in a battle with the Environmental Protection Agency (EPA) over efforts to regulate greenhouse gas emissions under the Clean Air Act, a move the Bush administration opposes, Dow Jones Newswires reported. The EPA...

Partners agree new start-up date of 2013 for giant Kashagan field.
July 1, 2008... Oil production from Kazakhstan's giant offshore Kashagan field will not come on stream before October 2013, eight years later than initially envisaged. The new target date was agreed in a memorandum of understanding (MOU) signed in Astana,...

High rate for Petrohawk well.(Exploration & Production)(PetroHawk Energy L.L.C.)(Brief article)
July 1, 2008... Petrohawk Energy said its initial horizontal well in the Haynesville Shale play in Louisiana started production at an average rate of about 16.8 MMcfe/d. Petrohawk said it is currently drilling three horizontal Haynesville Shale wells and...

DOE offers loan guarantees.(Finance)(United States Department of Energy)(Brief article)
July 1, 2008... The US Department of Energy on Monday solicited $30.5 billion for clean energy loan guarantees. The guarantees will boost the nuclear power and renewable energy industries as part of the Bush administration's effort to encourage projects...

Indonesia awards CBM deals.(International)(coalbed methane)(Brief article)
July 1, 2008... Indonesian upstream regulator BP Migas has reportedly awarded two coalbed methane (CBM) blocks in East Kalimantan and Riau province to local mining companies. A consortium led by Samantaka Mineral Prima won the Indragiri Hulu Block in...

Petronas kick-starts Kebabangan.(International)(Petroliam Nasional Bhd.)(Brief article)
July 1, 2008... Malaysia's Petronas has invited bids for the front-end engineering and design contract for its Kebabangan Cluster gas project offshore Sabah. The winner will be announced in a month. The production sharing contract for the project has been...

Japan's crude imports rise.(International)(Brief article)
July 1, 2008... Japan's crude oil imports rose 16.3% to 4.12 million b/d in May compared with a year ago, latest government statistics show. Volumes from top supplier Saudi Arabia rose 21.2% to 1.23 million b/d, and supplies from Iran jumped by 46.4% to...

Gazprom unveils Far East plans.(International)(OAO Gazprom)(Brief article)
July 1, 2008... Russia's Gazprom plans to produce from 3.5 Bcm to 4 Bcm of gas per year from the Kirinskoye field in Russia's Far East, Gazprom Deputy Chief Executive Alexander Ananenkov said in Moscow Friday. Production from the field, which harbors an...

Shell ramps up Bonga.(International)(Royal Dutch-Shell PLC)(Brief article)
July 1, 2008... Royal Dutch Shell expects to be back to full output at its deepwater Bonga field offshore Nigeria within days, Chief Executive Jeroen van der Veer said Monday. "We've restarted production," Van der Veer told delegates at the World...

Personnel tops list of concerns.(International)(Brief article)
July 1, 2008... A survey by global accounting firm KPMG finds that the world's largest national oil companies (NOCs) believe that a lack of skilled personnel is the top risk to their business in the coming years. In "Key Issues for Rising National Oil...

Pertamina sees higher output.(International)(Pertamina Humas P.T.)(Brief article)
July 1, 2008... Indonesia's Pertamina expects to boost its gross crude oil production by 14% to 159,000 barrels per day in 2008, a top company official says. Speaking to reporters after Pertamina's annual shareholder meeting, Finance Director Frederick...

Stock market scorecard.(International)(Statistical table)
July 1, 2008... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 6/30 Chg. % Chg. 10-Day 52-Wk YTD ConocoPhillips 94.39 +2.75 +3.00% +0.14% +22.17% +6.90% Shell-B ...

Cooling degree days.(International)(Statistical table)
July 1, 2008... Cooling Degree Days For the week of June 28, 2008 Week Dev Cum Dev From From From Week From Year Cum From...

FMC wins Conoco Ekofisk deal.(Offshore)(FMC Technologies Inc.)(ConocoPhillips Scandinavia )(Brief article)
July 1, 2008... FMC Technologies said Monday it has signed a five-year agreement with ConocoPhillips Scandinavia for the supply of subsea equipment and services for a water injection development in the Ekofisk field. The development is a replacement of the...

Delek might buy US refinery.(Refining)(Delek Group Ltd.)(Brief article)
July 1, 2008... Delek US Holdings has begun negotiations to purchase a US refinery in a possible $1 billion deal, parent company Delek Group said on Sunday. In a statement to the Tel Aviv Stock Exchange, Delek Group did not identify its negotiating...

IEA warns of ongoing oil market tightness.(International Energy Agency)
July 2, 2008... Despite reducing its medium-term forecast for demand, the International Energy Agency (IEA) has warned of ongoing tightness in the oil markets in the coming years. Downward revisions in expectations for non-Opec supply, along with ongoing...

San Juan Basin shows it has staying power.
July 2, 2008... The dry, high desert of the San Juan Basin that covers the northwestern corner of New Mexico and carries over into the southwestern corner of Colorado may not suggest that an ocean was ever in the vicinity of the 4,600-square-mile region, but...

Exxon boss slams Kazakhstan while Total chief hits out at IEA.(International Energy Agency)
July 2, 2008... The chief executives of two of the world's largest international oil companies, Rex Tillerson of Exxon Mobil and Christophe de Margerie of Total, were in feisty mood Tuesday, laying into the Kazakh government and the International Energy Agency...

Crude prices inch higher, supported by medium-term supply worries.(Brief article)
July 2, 2008... New York crude futures were supported on Tuesday by medium-term supply concerns, but the market has begun to show signs of fatigue as it was unable to sustain the day's highs for the second trading session in a row. Nymex crude closed up...

Daily oil & gas price review.(Statistical table)
July 2, 2008... Daily Oil & Gas Price Review Prices for Tuesday, July 1, 2008 US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +1.22 138.73 135.90 120.46 LLS (St. James) ...

Iraq seeks damages from firms involved in oil-for-food corruption.
July 2, 2008... Chevron, El Paso Corp. and Vitol, along with Texas oilmen Oscar Wyatt and David Chalmers, are among scores of defendants listed in a new civil suit filed by the Iraqi government that seeks to recoup billions dollars in kickbacks that were paid...

Carbon trading, subsidies needed to spark [CO.sub.2] capture projects.(carbon dioxide)
July 2, 2008... Carbon capture and storage (CCS) could potentially cut one-third of global carbon dioxide emissions from stationary sources and is thus a viable way of fighting global warming, according to a report published Tuesday by the Boston Consulting...

Oil service sector steals show thanks to strong upstream spending.
July 2, 2008... Oil service companies continue to benefit from what seems like an endless rise in oil and natural gas prices. Strong commodity prices have enabled exploration and production companies to bump up budgets, leading to increased revenues for...

TNK-BP expatriate staff start packing their bags to leave Russia.
July 2, 2008... Expatriate staff at TNK-BP have started packing their bags after authorities in Moscow rejected a last-ditch appeal to issue fresh work permits, dealing a new blow to BP's efforts to keep a grip on its Russian joint venture, a source close to...

Conoco in biofuels R&D pact.(Alternatives)(ConocoPhillips)(Colorado Center for Biore-fining and Biofuels)(Brief article)
July 2, 2008... ConocoPhillips said Tuesday it has signed $5 million, multi-year sponsored research agreement with the Colorado Center for Biore-fining and Biofuels (C2B2), a research center of the Colorado Renewable Energy Collaboratory, to develop new ways...

Forest oil increases acreage.(Exploration & Production)(Brief article)
July 2, 2008... Forest Oil said it has increased its acreage position in East Texas/North Louisiana to approximately 143,000 gross acres (113,000 net acres) through acquisitions and leasing activity. Forest believes that 114,000 gross acres (90,000 net...

China hikes jet prices.(International)(Brief article)
July 2, 2008... China National Aviation Fuel (CNAF) raised retail jet fuel prices to domestic carriers by 15%, or 900 yuan ($131), per ton on Jul. 1, Reuters reports. That followed a hike in ex-refinery jet prices by 1,500 yuan to 7,450 yuan/ton from Jun. 20....

Myanmar oil investment soars.(International)(Brief article)
July 2, 2008... Foreign investment in Myanmar's oil and gas sector rose more than threefold between 2006 and 2007 to $474 million, with the sector accounting for more than 90% of total foreign investment last year, the Ministry of National Planning and...

More strikes set to roil France.(International)(Brief article)
July 2, 2008... Oil terminal workers at the French port Marseille are due to meet Thursday morning to decide how to protest the government's port reforms. The influential CGT union has been protesting the reforms since April. They passed into law on Jun....

Yukos boss faces more charges.(International)(Brief article)
July 2, 2008... Russian prosecutors have filed new charges against Mikhail Khodorkovsky and his former business partner, Platon Lebedev, that could add 20 years to their eight-year sentences. Khodorkovsky--the former head of oil firm Yukos--and Lebedev are...

Chevron eyes Nigerian security.(International)(Brief article)
July 2, 2008... Chevron is taking security for its Nigerian deepwater Agbami project "very seriously," following the militant attack on Royal Dutch Shell's offshore Bonga installation last month, a top company executive said Tuesday. Ali Moshiri,...

Stock market scorecard.(International)(Statistical table)
July 2, 2008... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 7/1 Chg. % Chg. 10-Day 52-Wk YTD Petro-Canada 56.90 +1.15 +2.06% -1.04% +9.02% +6.12% Marathon ...

Brazil oilmen stage strike.(Latin America)(Petroleo Brasileiro S.A.)(Brief article)
July 2, 2008... Oil workers at Brazil's state oil company Petrobras started a 24-hour warning strike on Tuesday. The strike is intended to make the company discuss safety and profitsharing with workers, but is not expected to affect production. Jose...

Eni appoints new CFO.(Personnel)(appointment of Alessandro Bernini)(Brief article)
July 2, 2008... Eni finance chief Marco Mangiagalli is leaving the Italian energy company to become chairman of Eni affiliate Saipem in a management reshuffle announced Monday. Mangiagalli will be replaced by Saipem's chief financial officer, Alessandro...

World Bank approves Climate Funds.
July 2, 2008... The World Bank on Tuesday approved the creation of two climate investment funds to assist developing countries in addressing greenhouse gas emissions and adapting to climate change. The Clean Technology Fund and Strategic Climate Fund are...

Chesapeake kicks Haynesville into overdrive.(Chesapeake Energy Corp.)(Plains Exploration and Production Co.)
July 3, 2008... Chesapeake Energy and Plains Exploration & Production have announced a joint venture agreement that looks set to kick the emerging Haynesville Shale gas play of North Louisiana and East Texas into overdrive. Underscoring the Haynesville's...

Iraqi exports slip due to inclement weather.
July 3, 2008... Iraqi oil exports dropped to an estimated 1.7 million barrels per day in June, down 300,000 b/d from May, as bad weather in the south interrupted sales through the Basrah Oil Terminal and higher domestic refining runs in the north prevented...

Safety, efficiency go hand in hand at Conoco San Juan Basin unit.
July 3, 2008... Anyone watching a current cable-television show supposedly portraying modern life in the US oilpatch would get a distorted view of reality. In fact, best practices on drilling rigs as applied by a top operator such as ConocoPhillips bear little...

Crude futures rise to new highs as inventories take a tumble.
July 3, 2008... Oil futures in New York settled at a record high on Wednesday, then pushed even higher in after-hours trading on the back of a bullish US crude inventory report and expectations of a rise in European interest rates. Nymex light, sweet...

Daily oil & gas price review.(Statistical table)
July 3, 2008... Daily Oil & Gas Price Review Prices for Wednesday, July 2, 2008 US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +2.76 141.49 138.09 118.30 LLS (St. James)...

EIA weekly statistics.(Statistical table)
July 3, 2008... EIA Weekly Statistics For Week Ended June 27, 2008 US Crude Oil: Stocks (1) (millions of bbl) Current Previous Week Week Chg. PADD 1 14.2 12.9 10.1% PADD 2 ...

Western governors draft energy policy suggestions for next US president.
July 3, 2008... Western governors hope to influence the national energy policy of the next presidential administration by submitting their own recommendations to the White House. The effort is being led by Utah Gov. Jon Huntsman, the newly elected...

IMF urges biofuel rethink.(Alternatives)(Brief article)
July 3, 2008... The International Monetary Fund (IMF) has called for a review of biofuel subsidies, especially in developed countries, amid growing evidence that first-generation biofuels are neither a cost-effective nor a green-friendly alternative to...

Statoil sees gas as 'bridge'.(Environment)(Brief article)
July 3, 2008... StatoilHydro Chief Executive Helge Lund on Wednesday advocated the use of more fossil fuels--namely gas--as part of what he called a "progressive approach" to cutting greenhouse gas emissions and fighting climate change. "Substituting coal with...

Maintenance hits Alaska output.(Exploration & Production)(Brief article)
July 3, 2008... Alaska North Slope oil production was held back in June by a two-day cutback for planned maintenance on the Trans-Alaska Pipeline System (Taps) on Jun. 28-29 and extensive work at the Lisburne Production Center at the beginning of the month....

TNK-BP wins visa reprieve.(International)(Brief article)
July 3, 2008... In a last-minute reprieve, Russia agreed Wednesday to expedite work permit approvals for 49 of TNK-BP's senior international managers, dampening concerns that all of the company's expatriate staff would have to leave the country this month. ...

Algeria to open data room soon.(International)(Brief article)
July 3, 2008... Algeria looks set to shed more light soon on its latest exploration licensing round, with Sonatrach Chairman Mohamed Meziane saying Wednesday that the opening of the data room will be announced within a few weeks. He also said that he hoped...

Stock market scorecard.(International)(Statistical table)
July 3, 2008... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 7/2 Chg. % Chg. 10-Day 52-Wk YTD Marathon 51.56 -0.31 -0.60% +0.14% -13.69% -15.28% Exxon...

PDV profits rise in quarter.(Latin America)(Petroleos de Venezuela S.A.)(Financial report)(Brief article)
July 3, 2008... Venezuelan state oil company PDV said its 2008 first-quarter profit jumped 80% to $3.45 billion compared with a year earlier, while the nation's oil output rose 2% to 3.21 million b/d. Market watchers such as the International Energy Agency...

Dominion to sell two utilities.(Natural Gas)(Dominion Resources Inc.)(Dominion Peoples)(Dominion Hope)(Brief article)
July 3, 2008... Dominion Resources said on Wednesday it would sell its Dominion Peoples and Dominion Hope natural gas distribution companies to Babcock & Brown Infrastructure Fund North America for $910 million. The move was the latest by the...

Eni contracts Transocean rig.(Offshore)(Brief article)
July 3, 2008... Transocean said Italy's Eni has signed a deal to use its Transocean Marianas semi-submersible rig for drilling in the deepwater Gulf of Mexico. The two-year contract is scheduled to start in December 2009 following completion of the rig's...

Auto sales down sharply in June.(Oil & Gas Markets)(Brief article)
July 3, 2008... Major automakers reported steep sales declines for June, blaming their troubles on poor sales of heavy, gas-guzzling trucks and SUVs as retail gasoline prices average more than $4/gallon nationwide. Ford said sales fell by 28% last month,...

Candover gets hands on Expro.(Oil Field Service)(Candover Investments PLC)(Expro International Group PLC)(Brief article)
July 3, 2008... A consortium led by private equity group Candover has won final approval to take over UK oilfield services group Expro after a protracted bidding war with US firm Halliburton. The Umbrellastream consortium is buying Expro under an...

Data shows oil supply outrunning demand.
July 7, 2008... Demand continues to take massive hits in the US--which remains the world's largest consumer of petroleum, despite all the attention focused on China--as a result of high prices and an economic slowdown. Nevertheless, global oil prices show no...

San Juan makes Conoco's cash register ring.
July 7, 2008... The San Juan Basin Business Unit may lack the glamour of ConocoPhillips' upstream operations in Alaska or the North Sea, but if the true measurement of value is causing the corporate cash register to ring on a consistent, predictable basis,...

Climate change, runaway oil prices set to top G8 agenda in Japan.
July 7, 2008... Climate change and runaway oil prices will top the agenda when leaders of the world's biggest industrialized economies gather for the G8 summit in Japan on Monday. Japanese Prime Minister Yasuo Fukuda has made climate change a priority for...

Crude futures set new highs as Euro interest rates are raised.(Brief article)
July 7, 2008... Crude prices pierced through $145 early on Thursday as the dollar weakened. Prices edged lower, however, later in the day in light trading ahead of the three-day July 4 holiday weekend in the US. Nymex crude was bid up to a new intraday...

Daily oil & gas price review.(Statistical table)
July 7, 2008... Daily Oil & Gas Price Review Prices for Thursday, July 3, 2008 US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +1.13 142.62 139.44 124.68 LLS (St. James)...

ConocoPhillips seeks to minimize impact on southwest communities and environment.
July 7, 2008... With the specter of climate change and other environmental pressures looming large over the oil and gas industry, it is easy to overlook the conservation efforts made by drillers in places where rigs and wells have been part of the landscape...

Baker Hughes drilling report.(Statistical data)
July 7, 2008... Rig Count Rises by 8 The number of drilling rigs searching for oil and gas in the US rose by eight last week to 1,921, Baker Hughes said. During the same week last year, there were 1,752 rigs at work. The number of rigs searching for...

August Natgas surges to record highs; more gains may lie ahead.(natural gas)(Brief article)
July 7, 2008... Nymex natural gas futures surged to record highs for an August contract last week, cresting Thursday at $13.694/MMBtu. With Congress content to wait on further debate about controlling commodity speculation, there is little leverage to bring...

French to build Saudi plant.(Electricity)(Brief article)
July 7, 2008... French turbinemaker Alstom has signed a letter of intent with Saudi Electricity Co. (SEC) for a [euro]1.9 billion ($3 billion) turnkey contract to build a 1,200 megawatt oil-fired steam power plant in Saudi Arabia next to the Shuaiba power...

BC launches carbon tax.(Environment)(Brief article)
July 7, 2008... North America's first comprehensive carbon tax is now in place in British Columbia where it has been greeted with complaints that some gasoline stations have used the tax as a cover to raise prices more than necessary. The...

EIA gas storage report.(Environment)(Statistical data)
July 7, 2008... Gas in Storage Rises by 85 Bcf Stocks of working natural gas in US storage facilities rose by 85 Bcf in the week ending Jun. 27, leaving storage levels at 2,118 Bcf, according to the Energy Information Administration. Gas in storage is 381...

Medvedev visits Azerbaijan.(International)(Dmitry Medvedev)(Brief article)
July 7, 2008... As the scramble for Caspian and Central Asian energy resources intensifies, Russian President Dmitry Medvedev embarked Thursday on a week-long tour of three oiland gas-rich former Soviet states--Azerbaijan, Turkmenistan and Kazakhstan--as well...

Russian output falls in June.(International)(Brief article)
July 7, 2008... Russian crude and condensate production averaged 9.73 million barrels per day in June, 1.4% lower than in the same month last year, according to preliminary data from the Russian Energy Ministry. The total was also 0.2% lower than in May, when...

Stock market scorecard.(International)(Statistical table)
July 7, 2008... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 7/3 Chg. % Chg. 10-Day 52-Wk YTD Chevron 98.63 +1.21 +1.24% -0.63% +15.83% +5.68% BP ...

Pipe deal may kick-start Cepu.(International)(Brief article)
July 7, 2008... evelopment could finally be about to start at Exxon Mobil's massive onshore Cepu Block in Indonesia, with a Singapore-listed contractor claiming to have won a contract to build a 40 kilometer pipeline from Cepu's main oil field, Banyu Urip, to...

CNOOC starts oil field.(International)(China National Offshore Oil Corp.)(Brief article)
July 7, 2008... China National Offshore Oil Corp. (CNOOC) said Wednesday it has started trial production at its Wenchang oil field in the Pearl River Mouth Basin in the South China Sea. CNOOC said its Wen 19-1 field is the first of the four Wenchang...

TNK-BP wins visa relief.(International)(Brief article)
July 7, 2008... Russia's Federal Migration Service has granted work permits for eight senior international managers at TNK-BP, including Chief Executive Robert Dudley, allaying concerns that the joint venture's expatriate staff would have to leave the country...

G8 urged to tackle speculation.(International)(Brief article)
July 7, 2008... A broad coalition of organizations representing the farming, trucking, airline, automotive, renewable fuel and oil marketing sectors on Thursday called on US President George W. Bush to address the subject of excessive speculation in energy...

Centrica wins UK CBM Blocks.(International)(coal bed methane)(Brief article)
July 7, 2008... UK-based Centrica has won interests in three exploration licenses in South Wales that will enable it to drill for coalbed methane--natural gas trapped in coal seams--as part of its search for new energy supplies. Centrica will hold 100%...

Survey finds shift on drilling.(Legislation/Regulation)(Survey)(Brief article)
July 7, 2008... Record high gasoline prices are causing Americans to rethink their opposition to opening new federal lands and waters to oil and natural gas exploration. A nationwide survey by the Pew Research Center shows 47% of Americans consider...

Saudis unwilling to make pricing concession.(Statistical table)
July 8, 2008... Saudi Arabia hosted an emergency oil price summit in Jeddah last month to focus the world's attention on the economic and social pain caused by high oil prices. However, Saudi term prices for August show that the kingdom's concern does not...

Quicksilver snags core Barnett Shale assets.
July 8, 2008... Quicksilver Resources has entered into a $1.3 billion cash-and-stock deal with a group of private companies to acquire producing properties, leasehold and midstream assets in the Barnett Shale of North Texas. The deal is expected to boost the...

BHP's Neptune starts producing in US Gulf after repairs completed.
July 8, 2008... BHP Billiton has brought the Neptune deepwater field on line in the Gulf of Mexico--three months later than originally scheduled--after crews wrapped up unplanned work on the production platform. Neptune will produce through a single-column...

Indonesia: more subsidy cuts.(Brief article)
July 8, 2008... Indonesia will cut fuel subsidies further, a government official told Oil Daily last week, despite the mass protests that followed a 30% increase in retail fuel prices in May. The government has already worked out details of the mechanism...