The Oil Daily articles from June 2009

The Oil Daily archives from June 2009

Saudi crude exports to US hit 21-year low.(Statistical data)
June 1, 2009... In a clear sign that Saudi Arabia is aggressively cutting back supplies, US crude imports from the kingdom dropped to 944,000 barrels per day in March--the lowest monthly volume since November 1988. Saudi Arabia has sharply reduced exports...

Iraq's oil minister answers his critics.(Hussein al-Shahristani)
June 1, 2009... Under attack in Iraq's parliament and by some officials, Oil Minister Hussein al-Shahristani has hit back at his critics, citing corruption and apparent oil theft for aggravating conditions in the south, where a fast-track rehabilitation...

Minister: US won't be able to choke off gasoline supplies to Iran.
June 1, 2009... The US will fail if it implements sanctions to choke off supplies of gasoline to Iran, the country's oil minister told Oil Daily on Friday. He also said that that the Islamic Republic continues to beat those sanctions that are already in place....

Crude climbs above $66, taking gains for May to almost 30%.
June 1, 2009... Crude oil posted another stellar peformance last week with futures pushing up toward $70 as positive economic data, falling inventories, helpful comments from Opec and a weak dollar created a perfect storm for bullish investors. Nymex July...

Daily oil & gas price review.(Statistical table)
June 1, 2009... Daily Oil & Gas Price Review Prices for Friday, May 29, 2009 North American Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +1.83 65.06 61.93 50.88 LLS (St. James)...

Heavy volumes in exchange traded fund push July natural gas futures higher.
June 1, 2009... In a bit of deja-vu, June gas futures quietly rolled off the board last week, while July took the prompt month position amid a buying frenzy fueled by rallying oil and equities. But by week's end, follow-through buying dried up and turned to...

Baker Hughes drilling report.(Statistical data)
June 1, 2009... Rig Count Falls by One The number of drilling rigs searching for oil and gas in the US fell by one last week to 899, Baker Hughes said. During the same week last year, there were 1,877 rigs at work. The number of rigs searching for oil...

Traders protest platts plan to change Americas pricing time stamp.
June 1, 2009... Many market participants are not happy about a plan by pricing service Platts to change the time stamp for futures values in its Americas oil assessments to 3:15 pm Eastern time beginning on Jun. 1. The change in settlement time, to 45...

US, China still far apart on how to cut greenhouse gas emissions.
June 1, 2009... House Speaker Nancy Pelosi said the US and China have found some common ground on tackling climate change but that the two sides are still far apart in their visions for reducing greenhouse gas emissions. Pelosi and a bipartisan...

Scientists describe extensive Arctic oil and gas resources.(United States Geological Survey)
June 1, 2009... The US Geological Survey (USGS) estimates that the Arctic Circle could hold more than twice the amount of oil that has already been discovered in the region. USGS researchers, writing in the journal Science, said the region could hold...

BP to sell Australian gas to Shell and repurchase it as LNG.(Royal Dutch-Shell PLC)
June 1, 2009... In a novel deal, BP has agreed to sell gas reserves it holds in the Io field off Australia to Royal Dutch Shell and then repurchase the gas as LNG from the proposed Gorgon LNG venture. BP is not a partner in the Gorgon project--which is...

Tower spuds Uganda well.(Tower Resources)(Brief article)
June 1, 2009... UK-based Tower Resources said Friday that it has spudded its first wildcat well--Iti-1-in northern Uganda. The well is being drilled to an estimated depth of 650 meters and should take two to three weeks to complete, Tower said. A second...

Cabot closes regional offices.(Corporate News)(Cabot Oil and Gas Corp.)(Brief article)
June 1, 2009... Cabot Oil & Gas said it has decided to close two regional offices in Charleston, West Virginia and Denver, Colorado by the end of the summer to improve efficiency. Cabot said it will open a new regional office in Pittsburgh to handle the...

Plains: 300 Mln boe at Friesian.(Exploration & Production)(Plains Exploration and Production Co.)(Brief article)
June 1, 2009... Plains Exploration & Production said gross reserve potential at the Friesian discovery in the deepwater Gulf of Mexico is now estimated at 300 million barrels of oil equivalent. in a filing with the US Securities and Exchange Commission,...

Russian exports set to fall.(International)(Brief article)
June 1, 2009... A rebounding domestic market and construction work at one of Russia's main oil ports have combined to produce a sharp drop in projected crude oil exports this month. Crude oil pipeline operator Transneft has penciled in Russian seaborne...

Japan's crude imports tumble.(International)(Brief article)(Statistical data)
June 1, 2009... Japan's imports of crude oil tumbled in April to 3.53 million b/d, down 22.5% year-on-year, according to the latest data from the Ministry of Economy, Trade and Industry (Meti). This marks the seventh consecutive month of declines as Japanese...

Stock market scorecard.(International)(Statistical table)
June 1, 2009... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 5/29 Chg. % Chg. 10-Day 52-Wk YTD Statoil 21.02 +0.71 +3.50% +2.29% -46.20% +26.17% Repsol YPF ...

BP wins Adriatic LNG bid.(International)(Brief article)
June 1, 2009... BP emerged as the winner of the open season tender to deliver 1 Bcm/yr of LNG to the Adriatic LNG terminal off Rovigo in north-eastern Italy. At least 10 other companies bid, but Italian regulators have not disclosed their identity. The UK...

Kuwait reappoints oil minister.(International)(Sheikh Ahmad al-Abdullah al-Sabah )(Brief article)
June 1, 2009... Kuwait reappointed Sheikh Ahmad al-Abdullah al-Sabah as oil minister on Friday, in a new cabinet that could help end a political standoff that has delayed economic reforms in the Opec producer, state media said. The world's fourth-largest...

Repsol, Galp plan Carabobo bids.(Latin America)(Repsol YPF S.A.)(Galp Energia)(Brief article)
June 1, 2009... Spain's Repsol YPF and Portugal's Galp Energia are interested in bidding for rights to develop part of the Carabobo area of Venezuela's Orinoco heavy oil belt, company officials said Friday. Repsol plans to bid for the Carabobo Norte I...

Shell to pay out on settlement.(Litigation)(Royal Dutch-Shell PLC)(Brief article)
June 1, 2009... Royal Dutch Shell will pay $381 million under a settlement with non-US investors who bought Shell shares on stock exchanges outside the US from April 1999 through March 2004. The Amsterdam Court of Appeals approved the payment--the largest...

Assets worth $20bn for sale.(Mergers & Acquisitions)(Brief article)
June 1, 2009... Merger and acquisition activity has slowed dramatically in the oil and gas industry in recent months, but energy research firm Derrick Petroleum Services has found 69 assets worth a combined $20 billion up for sale globally. In its latest...

TNK-BP sells services business.(Oil Field Service)(Weatherford International Ltd.)(Brief article)
June 1, 2009... Russian-UK joint venture TNK-BP said Friday that it has sold its Oil Field Services (OFS) division to US-based Weatherford International. Market sources said the deal is valued at around $490 million. TNK-BP said the sale is in line with...

Ernst & Young: capital spending still strong.
June 2, 2009... Despite recent pullbacks in spending on a number of projects, the world's largest national oil companies (NOCs) and international oil companies (IOCs) are still expected to invest north of $375 billion this year, according to global advisory...

Mexico: doubts about new regulatory body.
June 2, 2009... Mexico's government has created a new regulatory body for the oil industry as part of a broad reform package that seeks to bolster state-owned Pemex's efficiency and reverse declining oil output. However, it is unclear whether the agency...

Iraqi Kurds launch exports, unclear how producers will get paid.
June 2, 2009... The Kurdistan Regional Government (KRG) of northern Iraq launched exports on Monday from its Tawke and Taq Taq fields via the country's main northern export pipeline to Ceyhan, Turkey. However, uncertainties remain over how the producing...

Petrobras spuds Libya well.(Petroleo Brasileiro S.A.)(Brief article)
June 2, 2009... Brazil's Petrobras has spudded the A1-18/01 well in Area 18 offshore Libya, Australian partner Oil Search said Monday. The wildcat well was designed to test the Caliph prospect, which is defined by 3-D seismic data and has a number of...

Crude oil eyes $70, spurred on by economic data, weak dollar.(Brief article)
June 2, 2009... Nymex July crude futures continued their rise Monday, climbing $2.27 to $68.58 per barrel as the weak dollar and favorable economic news encouraged bullish traders. July Brent on ICE Futures jumped $2.45 to $67.97. "You're seeing the...

Daily oil & gas price review.(Statistical table)
June 2, 2009... Daily Oil & Gas Price Review Prices for Monday, June 1, 2009 North American Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +1.45 66.51 63.40 53.38 LLS (St. James)...

Aramco to reconsider refinery project.(Saudi Arabian Oil Co.)
June 2, 2009... Saudi Aramco will reconsider restarting its stalled Ras Tanura refinery expansion in 2010 depending on the status of the multibillion-dollar petrochemical project it is studying with US firm Dow Chemical, industry sources said Monday. ...

Cooling degree days.(Statistical table)
June 2, 2009... Cooling Degree Days For the week of May 30 2009 Week Dev Cum Dev From From From Week From Year Cum From Norm...

Pacific Rubiales close to completing Colombian pipeline.(Empresa Colombiana de Petroleos S.A.)
June 2, 2009... Canadian independent oil company Pacific Rubiales and Colombia's state oil company Ecopetrol are close to completing a 160-mile pipeline that will bring heavy crude from the Llanos Basin east of Bogota to Colombia's main pipeline network to the...

EIA projects big gains in US output of conventional liquid fuels.(Energy Information Administration)(Statistical data)
June 2, 2009... The Energy Information Administration (EIA) is projecting a big increase in US production of conventional liquid fuels over the next two decades as offshore production continues to ramp up and high oil prices lead to wider application of...

Conoco sees sufficient demand to absorb Australian LNG output.(ConocoPhillips)(liquefied natural gas)(Conference news)
June 2, 2009... US major ConocoPhillips, operator of one Australian LNG project and a partner in several other gas export schemes, says long-term prospects for Asia-Pacific LNG are good, even if the industry is set for a "lull" because of the global recession....

Gastar scores in Texas.(Exploration & Production)(Gastar Exploration Ltd.)(Brief article)
June 2, 2009... Gastar Exploration said it has successfully completed the Wildman Trust No. 5 well in a lower Bossier zone in East Texas. The well is flowing at a restricted gross sales rate of around 15 MMcf/d. The Wildman Trust No. 5 was drilled and...

Alaska oil output rises.(Exploration & Production)(Brief article)(Statistical data)
June 2, 2009... Alaskan crude production rebounded in May to 718,000 b/d, adding 42,840 b/d compared to a depressed April, according to data from the state's Department of Revenue Tax Division. The BP-operated Prudhoe Bay area led the way with a 40,455 b/d...

Big gas find off Norway?(International)(Royal Dutch-Shell PLC)(Brief article)
June 2, 2009... Anglo-Dutch supermajor Royal Dutch Shell is reported to have made one of the biggest gas discoveries offshore Norway, at the Gro prospect in license 392. The 6603/12-1 wildcat well was spudded 26 Mar. in water depths of around 1,370 meters in a...

Stock market scorecard.(International)(Statistical table)
June 2, 2009... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 6/1 Chg. % Chg. 10-Day 52-Wk YTD BP 51.88 +2.38 +4.81% +13.72% -27.99% +11.00% Statoil ...

Irish firm eyes Morocco shale.(International)(San Leon Energy signed a deal with National Office of Hydrocarbons and Mining)(Brief article)
June 2, 2009... Ireland's San Leon Energy has signed a memorandum of understanding (MOU) with Morocco's National Office of Hydrocarbons and Mining (ONHYM) to test a 6,000 sq km area of the Tarfaya oil shale over a three-year period, with the possibility of...

Australia offers blocks.(International)(Woodside Petroleum Ltd.)(Brief article)
June 2, 2009... The Gnarlyknots-1 well, which Australia's Woodside reckoned would cost as much as US$30 million, was expected to open up a new resource basin when it was drilled in 2003 in the Great Australian Bight off South Australia. But it was...

Iran seeks South Pars funding.(International)(Brief article)
June 2, 2009... As US-led sanctions force most international oil companies and banks to stop doing business with Iran, the 4 million barrel per day producer is looking at more imaginative ways to finance its flagship project: the multi-phased development of...

China hikes fuel prices.(International)(Brief article)
June 2, 2009... China is hiking retail prices of gasoline and gas oil in response to rising international oil prices in a move that ends nearly a month of industry speculation over Beijing's price reform plans. Economic planners at the National Development...

Peru protests target Gas pipe.(Latin America)(Transportadora de Gas del Peru)(Brief article)
June 2, 2009... Transportadora de Gas del Peru, or TgP, the consortium that operates natural gas pipelines from Peru's Camisea gas fields to Peru's coast, said Sunday that a group of about 50 Indians have taken control of valves at two points on the pipeline....

Kitimat finds partner.(Natural Gas)(Korean Gas Corp.)(Brief article)
June 2, 2009... The planned Kitimat liquefied natural gas (LNG) export terminal off the coast of British Columbia, Canada received a significant boost on Monday when the world's largest LNG importer tentatively agreed to purchase 40% of Kitimat's gas over a...

Deal expands Cameron's separation business.
June 3, 2009... Oil and gas equipment supplier Cameron International said on Tuesday it has agreed to acquire Natco Group in an all-stock deal worth $780 million that will create a leader in the separation and processing segments of the market. Chief...

Demand still weak despite signs of recovery.(Statistical data)
June 3, 2009... Global oil demand is still weak as a result of the ongoing recession, but positive signs have emerged in the US and China that may indicate the beginnings of a recovery. Nevertheless, given the huge 2 million barrel per day supply surplus and...

New head of CFTC calls for enhanced regulation of energy markets.(Commodity Futures Trading Commission)
June 3, 2009... The new head of the US Commodity Futures Trading Commission (CFTC) on Tuesday pledged to work with Congress to step up regulation of the over-the-counter (OTC) derivatives market and combat excessive speculation in energy markets. Gary...

Market looks to products for direction as crude cools down.(Brief article)
June 3, 2009... The Nymex July crude futures market posted its first loss in the past seven trading sessions Tuesday, dipping 3cents to $68.55 per barrel. July Brent on ICE Futures finished 20cents higher at $68.17. "I think everybody's looking at...

Daily oil & gas price review.(Statistical table)
June 3, 2009... Daily Oil & Gas Price Review Prices for Tuesday, June 2, 2009 North American Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +0.58 67.09 64.67 53.02 LLS (St. James)...

Oil equities outperform broader market in May as crude rallies.(Statistical data)(Company rankings)
June 3, 2009... Petro-Canada was by far the top performer in the International Petroleum Finance (IPF) Index in May. Already buoyed by news of its merger with oil sands giant Suncor, the stock got an additional boost from strong gains in oil and gas prices (OD...

Saudi Aramco unveils revised schedule for major projects.
June 3, 2009... After delaying major developments at the end of last year because of the desire to cut costs, Saudi Aramco has unveiled the revised schedule for its oil, gas, refining and petrochemicals megaprojects out to 2015. In the latest example of...

Pemex faces challenging future after plucking low-hanging fruit.(Petroleos Mexicanos)
June 3, 2009... The days of cheap, easy oil are over for Mexico. But while the country's remaining hydrocarbon resources lie in more complicated fields, new projects still promise attractive rates of return, according to an official from state oil company...

Chevron plans first major steam flood in carbonate reservoirs.
June 3, 2009... US major Chevron will soon launch a large-scale steam injection pilot at its onshore Neutral Zone concession, which it recently renewed. If the trial is successful, Chevron plans to start full field development by 2017, a top official said...

Newfield makes Gulf discoveries.(Exploration & Production)(Newfield Exploration Co.)(Brief article)
June 3, 2009... Newfield Exploration has made two deepwater discoveries in the Garden Banks area of the Gulf of Mexico The Pyrenees discovery encountered 125 feet of net hydrocarbon pay in 2,100 feet of water. The well, located in Garden Banks Block 293,...

Triangle seeks partner.(Exploration & Production)(Triangle Petroleum Corp.)(Brief article)
June 3, 2009... Triangle Petroleum said it is seeking joint venture proposals for the company's Windsor Block in Nova Scotia with the help of energy investment banking group Jefferies Randall & Dewey. The Canadian exploration company operates a 10-year...

Centrica in Trinidad move.(Exploration & Production)(Trinidad & Tobago National Gas Co.)(Brief article)
June 3, 2009... Centrica, the UK's biggest natural gas marketer, has agreed to buy Canadian Superior Energy's 45% stake in a gas development block off the southeastern coast of Trinidad & Tobago for US$142.5 million cash. The deal for Block 5(c) is...

Anadarko to drill in Mozambique.(International)(Anadarko Petroleum Corp.)(Brief article)
June 3, 2009... US oil firm Anadarko plans to drill seven wells to search for oil and gas in the Rovuma sedimentary basin in Mozambique, a government official said on Tuesday. Arsenio Mabote, chief executive of Mozambique's National Oil Institute (INP)...

Jakarta to extend contract.(International)(BP Migas signed a deal with Chevron Corp.)(Brief article)
June 3, 2009... Indonesian upstream regulator BP Migas will recommend extending Chevron's contract for East Ambalat when it expires in 2010, as the US major cannot start exploration in the disputed maritime area because of frequent clashes between the...

BG keeps Egypt gas flowing.(International)(Brief article)
June 3, 2009... BG has announced the start of gas production through its Phase V compression project in its West Delta Deep Marine (WDDM) concession off Egypt, which is designed to boost the pressure of processed gas into the gas grid, allowing field...

Rosneft VP's son seized.(International)(Brief article)
June 3, 2009... An unidentified gang has reportedly taken hostage the teenage son of Rosneft's vice president for production. Rosneft Vice President Mikhail Stavsky's 19-year-old son--also named Mikhail--was seized by two armed men and bundled into a car...

Total plans Caspian well.(International)(Brief article)
June 3, 2009... Total plans next year to drill an exploration well on the Absheron Block in the Azeri sector of the Caspian Sea at a cost of about $100 million, according to the French major's vice president for continental Europe and the Caspian region,...

Gorgon decision expected soon.(International)(Chevron Corp.)(Brief article)
June 3, 2009... US major Chevron will make a final investment decision (FID) on its long-awaited 15 million ton per year Gorgon LNG project in Australia "in the coming months," Chevron Australia Managing Director Roy Krzywosinski said Tuesday. The project...

Stock market scorecard.(International)(Statistical table)
June 3, 2009... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 6/2 Chg. % Chg. 10-Day 52-Wk YTD Repsol YPF 23.92 +0.73 +3.15% +15.56% -42.28% +11.20% Exxon Mobil...

Dril-quip wins Petrobras order.(Offshore)(Petroleo Brasileiro S.A.)(Brief article)
June 3, 2009... Deepwater equipment manufacturer Dril-Quip said it has been awarded a $180 million three-year contract by Petrobras. Dril-Quip will supply subsea wellhead systems for use in the drilling of deepwater wells offshore Brazil. Initial...

Technip bags US Gulf work.(Offshore)(Brief article)
June 3, 2009... French engineering firm Technip has been awarded a contract by Anadarko for the K2 field expansion project in the Gulf of Mexico. The contract covers two additional wells that will be tied back to the existing subsea equipment and to the...

Crackdown on tax havens could hit oil firms.
June 4, 2009... Hoping to cut off access to overseas "tax havens," the White House has proposed a slew of changes to the corporate tax code for companies with foreign subsidiaries. And those changes could cost the US oil and gas industry large sums of...

China replaces Total in Iranian gas project.(China National Petroleum Corp's contract with National Iranian Oil Co.)
June 4, 2009... In a deal that appears designed partly to boost the standing of President Mahmoud Ahmadinejad as he prepares to contest a second four-year term in the Jun. 12 elections, Iran has awarded a $4.7 billion upstream contract to China National...

Frontier explorers undeterred by recession, volatility, risk.
June 4, 2009... Wildcatters hold a storied place in the history of the oil and gas industry. Today, they have a lower profile and go by a different name, but frontier exploration companies still search for new resources in the riskiest and most far-flung...

Crude extends retreat from recent highs as inventories rise.(Statistical data)
June 4, 2009... An unexpected jump in crude inventories and weak demand for refined products in the latest report from the Energy Information Administration (EIA) helped to drive prices lower Wednesday. The Nymex July crude futures contract lost $2.43 to...

Daily oil & gas price review.(Statistical table)
June 4, 2009... Daily Oil & Gas Prices for Wednesday, June 3, 2009 North American Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -2.64 64.45 65.27 55.17 LLS (St. James) -2.19 ...

EIA weekly statistics.(Statistical table)
June 4, 2009... EIA Weekly Statistics For Week Ended May 29, 2009 US Crude Oil: Stocks (1) (millions of bbl) Current Week Previous Week Chg. PADD 1 14.4 14.1 2.1% PADD 2 84.7 ...

Russian oil output edges higher in May, gas production falls.(Statistical data)
June 4, 2009... Defying forecasts of a sharp fall this year, Russia's crude oil and condensate production inched up 0.9% in May to average 9.84 million barrels per day, preliminary energy ministry data show. In the first five months of the year, output rose...

Private equity funds poised to boost investment in energy sector.
June 4, 2009... Billions of dollars in private equity capital may be sitting on the sidelines for now, but several fund managers at an investment conference this week voiced their enthusiasm for putting money to work in the energy sector over the next several...

As hurricane season starts, Shell draws on lessons of recent past.(Shell Oil Co.)
June 4, 2009... Shell Oil is taking additional steps to make sure that its Gulf of Mexico production facilities, pipelines and Gulf Coast refining operations are well-prepared for this year's hurricane season. The company has taken to heart the lessons...

Central American and Caribbean nations seek upstream investment.
June 4, 2009... The small countries of Central America and the Caribbean, which have never been major energy producers, are seeking to change that fact. In recent months, governments across the region have moved to promote exploration and production...

Kuwait may revise output targets in light of global recession.
June 4, 2009... The head of Kuwait Oil Co. (KOC) says the Opec producer's oil capacity targets may change in light of the global economic downturn and its implications for future oil demand. KOC, the upstream arm of state-owned Kuwait Petroleum Corp....

Apache makes Egypt find.(International)(Brief article)
June 4, 2009... Khalda Petroleum Company, which operates concessions in Egypt for US independent Apache Corp., has made a new oil find in the South Umbarka concession in Egypt's Western Desert, Egypt's Oil Ministry said on Wednesday. Khalda Petroleum is a...

Exxon, Petronas in offshore deal.(International)(Exxon Mobil Corp.)(Petroliam Nasional Bhd.)(Brief article)
June 4, 2009... Malaysian state-owned oil company Petronas said it had signed a $2.1 billion production-sharing agreement with a unit of Exxon Mobil to develop seven existing offshore oil fields. "The key objective of the PSC is to meet Petronas and its...

Total chief urges Nigeria reform.(International)(Christophe de Margerie)(Brief article)
June 4, 2009... Total's chief executive, Christophe de Margerie, said Wednesday that Nigeria should boost transparency and lay down clearer rules for foreign partners as it pushes through reforms in its oil and gas industry. "We know we need a new...

Japanese crude stocks rise.(International)(Brief article)(Statistical data)
June 4, 2009... Japanese crude stocks increased by 4.6% to 104.2 million bbl in the week ended May 30, according to data from the Petroleum Association of Japan. Oil product stocks rose by 7.4% to 81.02 million b/d while refinery throughput fell...

UK tax breaks may work.(International)(Brief article)
June 4, 2009... Tax breaks introduced by the UK government to encourage North Sea production could spur development of up to 45 small discoveries at an oil price of $45/bbl and up to 157 at $60/bbl, UK consultant Hannon Westwood says. The April budget...

Stock market scorecard.(International)(Statistical table)
June 4, 2009... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 6/3 Chg. % Chg. 10-Day 52-Wk YTD Exxon Mobil 72.08 -0.84 -1.15% +2.21% -17.91% -9.71% Chevron ...

Regulator challenges estimates.(International)(Brief article)
June 4, 2009... Indian oil regulators are disputing estimates of natural gas reserves provided by Hardy Oil and Gas in two offshore areas it co-owns with India's Reliance Industries, claiming the UK-listed firm inflated the numbers to boost its share price....

Peru gas pipe seizure ends.(Latin America)(Brief article)
June 4, 2009... Peruvian police have taken back control of two valves along the only pipeline that moves natural gas from Peru's Camisea field to the coast, the government said on Tuesday, four days after protesters armed with bows and arrows seized the...