The Oil and Gas Journal articles from March 2000

The Oil and Gas Journal archives from March 2000

Newsletter.(Brief Article)
March 6, 2000... One might not know it to look at Wall Street's blase attitude toward petroleum these days, but opportunities abound for investors in oil stocks. Even as oil prices approach decade highs, foremost on the minds of many oil and gas firms as...

US INDUSTRY SCOREBOARD 3/6.(Brief Article)
March 6, 2000... US INDUSTRY SCOREBOARD 3/6 4 wk. 4 wk. avg. % Year-to-date Latest week 2/25 average year ago [1] change average [1] Demand (1,000...

LETTERS.(Brief Article)
March 6, 2000... US energy policy needed US Energy Sec. Bill Richardson doesn't get it. His boss, Bill Clinton, has sent him off to the Persian Gulf to ask OPEC-- and Saudi Arabia in particular--to increase oil production so that Clinton's northeastern...

The weekly deadline.(Brief Article)
March 6, 2000... The comment I heard most often during my years as managing editor of OGJ (1964-78) was: "I don't see how you do it every week!" My response usually was, "There are weeks when I wonder myself." However, my response was always tongue m...

Use the s-word.(Brief Article)
March 6, 2000... For future market cycles, the oil industry should learn to use the s-word. That's "s" for "shortage." In a perfectly communicative world, increases in prices for oil products would provoke little controversy. Consumers would ask, "Why...

Yukos Priobskoye project litmus test for foreign investment in Russian E&P.(Brief Article)
March 6, 2000... Turning around Russia's oil industry poses challenges as huge as that nation's alluring potential must seem to the foreign majors that would pursue investment there. For some companies, the frustrations have been partly self-inflicted, say...

Internet revolution transforming energy sector.(Brief Article)
March 6, 2000... Already competing for capital with the "dot-com and e-everything" internet companies that are the new darlings of Wall Street, energy companies soon may be vying for customers against new competitors with little or no experience in the energy...

Concerns persist about Point Arguello project.
March 6, 2000... California's Santa Barbara County has approved transfer of Chevron Corp.'s 26% ownership in the Point Arguello project to Plains Resources Inc. but by mutual agreement named a Plains subsidiary as the project operator instead of Torch Operating...

Murkowski's plans.(Brief Article)
March 6, 2000... Sen. Frank Murkowski (R-Alas.) has a combative agenda for the Energy and Natural Resources Committee this year. Chairman Murkowski recently introduced a retail electricity decontrol bill. He said, "Our legislative task is to trim federal...

NiSource, Columbia Energy agree to merge.
March 6, 2000... After a 10-month pursuit, NiSource Inc. has agreed to acquire Columbia Energy Group in an $8.5 billion cash, stock, and debt deal that will create the largest US natural gas company east of the Rockies. Deal structure Under the merger...

Impetus builds for arctic natural gas pipeline.(Brief Article)
March 6, 2000... Four Canadian majors have launched a 1-year feasibility study to determine the commercial viability of natural gas in Canada's Arctic. The study project is backed by Imperial Oil Ltd., Gulf Canada Resources Ltd., Shell Canada Ltd., and...

New Baltic natural gas pipeline in the works.(Brief Article)
March 6, 2000... The national oil and gas companies of Denmark and Poland are considering building a new pipeline at a potential cost of 350 million euros to transport natural gas from the Baltic Sea to mid-European markets. That project would fill the...

Nigeria revokes 31 exploration licenses.
March 6, 2000... Thirty-one Nigerian exploration licenses were revoked last week in another cleanup exercise to revamp the domestic oil sector. Sixteen licenses were lost last July in a similar exercise, although eight of these may soon be restored. The...

Bayu-Undan gas project to proceed.
March 6, 2000... The Joint Authority for the Timor Gap Zone of Cooperation has approved the development plan for Phillips Petroleum Co.'s Bayu-Undan gas recycle project. The six partners in the project can now begin engineering, procurement, and construction...

Correction.(Correction Notice)
March 6, 2000... Westport Oil & Gas Co., Denver, is not a subsidiary of Halliburton Energy Services, as reported incorrectly (OGJ, Feb. 21, 2000, P. 38). Halliburton has no stake in the well described.

US Environmental Protection Agency.(Brief Article)
March 6, 2000... US Environmental Protection Agency ordered Sunoco Inc., Philadelphia, and affiliate Sun Pipe Line Co. to restore the environment at the John Heinz National Wildlife Refuge in southwest Philadelphia, where crude oil that leaked from a cracked...

PowerGen PLC.(Brief Article)
March 6, 2000... PowerGen PLC, London, agreed to acquired all outstanding shares of LG&E Energy Corp., Louisville, Ky., for $3.2 billion in cash. Each LG&E Energy shareholder will receive $24.85/share. LG&E Energy will become PowerGen's headquarters for its US...

Halliburton Co.(Brief Article)
March 6, 2000... Halliburton Co., Houston, acquired the 74% of PES (International) Ltd. shares it did not already own. The all-stock deal makes PES a wholly owned unit of Halliburton. PES is a developer of intelligent completions technologies, including the...

AGRA Inc.
March 6, 2000... AGRA Inc., Toronto, is merging with London's AMEC PLC through a cash and stock swap valued at $514 million (Can.) to form the third largest global engineering design firm behind Fluor Daniel Inc. and Bechtel Group Inc., company officials said....

Canadian Hunter Exploration Ltd.(Brief Article)
March 6, 2000... Canadian Hunter Exploration Ltd., Calgary, will acquire 78% of outstanding stock of Argentina's Atalaya SA for $37 million. The firm also offered an additional $14 million to owners of the remaining Atalaya shares, Capex SA and Clan Energy...

Texaco Inc.
March 6, 2000... Texaco Inc. formed a joint venture with Enron North America Corp. to combine their intrastate natural gas pipeline Bridgeline with Louisiana Resources Co.'s gas storage business. The JV, Bridgeline Holdings LP, will be based in Houston and...

BP Amoco Chemicals.
March 6, 2000... BP Amoco Chemicals is studying options to debottleneck production at its purified terephthalic acid (PTA) plant at Cooper River, SC. Plans call for adding up to 180,000 tonnes of capacity in time to meet North American seasonal demand in 2002....

Chemopetrol AS Litvinov.
March 6, 2000... Chemopetrol AS Litvinov, a Czech joint-stock company member of the Unipetrol Group, let a $48 million contract to Foster Wheeler Corp. unit Foster Wheeler Italiana SPA, Milan, for the engineering, construction, and supply of equipment and...

Formosa Chemicals & Fibre Corp.
March 6, 2000... Formosa Chemicals & Fibre Corp. (FCF) will become Taiwan's largest producer of PTA with the start-up of its plant in llan County. FCF spent $327 million to set up the plant at Lungte industrial park, only to discover the manufacturing...

ExxonMobil Corp.
March 6, 2000... ExxonMobil Corp. started construction of a new delayed coker at its 465,0000 b/d Baytown, Tex., refinery. The 40,000 b/d unit will enable ExxonMobil to boost yield of lighter products from heavy crudes, including Maya, which is to be delivered...

American International Petroleum Corp.
March 6, 2000... American International Petroleum Corp. (AIPC), New York, agreed to lease part of its Lake Charles, La., refinery to privately held Maretech Corp. for 1 year with options, in a deal valued at $8 million. Maretech is leasing the atmospheric...

Azzawiya Oil Refining Co.
March 6, 2000... Azzawiya Oil Refining Co., a unit of Libya's National Oil Corp., selected certain Institut Francais du Petrole (IFP) technologies for use in an expansion project at its 120,000 b/d Azzawiya refinery 60 km west of Tripoli. The technologies...

BP Amoco.
March 6, 2000... BP Amoco is to acquire El Paso Energy Corp.'s one-third stake in the Destin Pipeline Co. LLC natural gas system for $160 million. BP Amoco, which already held a one-third share in Destin, exercised its right of first refusal against an unnamed...

Pakistan's Economic Coordination Committee.
March 6, 2000... Pakistan's Economic Coordination Committee issued a letter of support to Pak Arab Refinery Co. Ltd. (PARCO) for laying a proposed 800-km light refined products pipeline from Karachi to Mehmood Kot near Multan, Punjab province (OGJ, Mar. 29,...

Advantage Resources Selva LLC.
March 6, 2000... Advantage Resources Selva LLC, a unit of Advantage Resources Inc., Denver, signed a definitive contract with Peruvian state agency Perupetro SA to explore and develop Peru's northern jungle Block 87 (OGJ, Jan. 31, 2000, p. 42). Perupetro...

PanCanadian Petroleum Ltd.
March 6, 2000... PanCanadian Petroleum Ltd., Calgary, made what it is calling a "potentially significant" natural gas discovery off Nova Scotia, which could lead to a new field development project. Two exploratory wells--PP-3C and P1-1B--were drilled beneath...

Pioneer Natural Resources Co.
March 6, 2000... Pioneer Natural Resources Co., Dallas, found oil with the first well drilled on Neuquen basin acreage in Argentina that it acquired in November. The Borde Colorado 1006 well was drilled on a new structure defined by 3D seismic and flowed 450...

Harken Energy Corp.
March 6, 2000... Harken Energy Corp., Houston, tested its Canacabare 1 well on Alcaravan association contract block in Colombia's Llanos basin. The well flowed naturally at 500 b/d of oil with no water. Harken anticipates higher production rates with the use of...

Agip do Brasil.
March 6, 2000... Agip do Brasil, a unit of Italy's ENI, agreed to acquire from Shell Brasil 285 service stations and 6 fuel terminals in the Brazilian states of Mato Grosso, Mato Grosso do Sul, and Goias a Tocantis. The purchase increases Agip's Brazilian...

Shell UK Exploration & Production.
March 6, 2000... Shell UK Exploration & Production is adapting its Trident platform concept to develop Skiff gas field in the southern UK North Sea. The 400-tonne minimum-facilities unit is being built by Keith Yeaman Engineering and is to be installed 72 km...

BP Amoco.
March 6, 2000... BP Amoco let a contract valued at $26 million to Transocean Sedco Forex Inc., Houston, for use of the Discoverer 534 dynamically positioned ultradeepwater drillship. The contract calls for BP Amoco to drill two firm wells and one optional well...

Baker Oil Tools.
March 6, 2000... Baker Oil Tools claimed a world's record for the longest slimhole perforating gun assembly during a horizontal completion for Petroleum Development Oman (PDO) in Oman. The 987-ft assembly, consisting of 1 9/16-in. OD guns, allowed workers to...

Grampian Enterprise Ltd.
March 6, 2000... Grampian Enterprise Ltd., Aberdeen, in concert with UK Offshore Operators Association, will hold the third in a series of initiative sessions that allow small and medium-sized companies to present innovative technologies to the oil and gas...

Tuntex Gas Corp.
March 6, 2000... Tuntex Gas Corp., an affiliate of the Tuntex Group, got government approval to build an LNG receiving terminal at the Kuantan industrial park in northern Taiwan. The park is being built at a cost in excess of $2.97 billion and will cover 1,174...

THE VIRTUAL OIL COMPANY: CAPSTONE OF INTEGRATION.(Brief Article)
March 6, 2000... The idea of a "virtual company" is not new. For years now, business theorists have envisioned a future dominated by enlightened companies that would focus on their core competencies, form strategic alliances with suppliers and business...

'DELIVERING THE LIMIT' WORK-FLOW PROCESS ADVANCES INDUSTRY'S PUSH FOR CONTINUOUS PERFORMANCE IMPROVEMENT IN WELL OPERATIONS.
March 6, 2000... Shell Expro, in partnership with key contractor companies, has introduced a new concept for delivering continuous performance improvement in well operations through a step change in partnering and real-time database systems. To date, the...

EFFECTIVE ASSET MANAGEMENT TOOL HELPS UNDERSCORE CRUCIAL ROLE OF MAINTENANCE FUNCTION IN PLATFORM DESIGN, OPERATION.(Brief Article)
March 6, 2000... Two separate surveys on the motivation for outsourcing the maintenance function were recently held in The Netherlands; one (NIPO, 1994) addressing maintenance staff; another (Ernst & Young, 1998) asking for the opinion of executives. Fig.1...

Kinetic EIT is best method for determining catalyst bed temperatures.(Brief Article)
March 6, 2000... Determining the average catalyst-bed temperature by applying an Arrhenius-type rate equation gives a closer to isothermal temperature than other methods. The engineer must apply an appropriate activation energy for each...

Unique HSC scenario leads to gas line failure.(Brief Article)
March 6, 2000... Tests conducted on a 24-in. section of pipe that had cracked internally revealed a unique combination of forces had led to the failure. Failure analysis and a laboratory program confirmed that failure resulted from hydrogen stress cracking...

New approach calculates deepwater gas-lift valve dome pressure.(Brief Article)
March 6, 2000... A new approach for calculating the dome pressure for nitrogen-charged, gas-lift valves placed in deepwater wells provides more general and precise numerical values than previous correlations. The need for tables can be avoided with the new...

Seismic image viewer.(Brief Article)
March 6, 2000... Just-CGM, newly released software, gives the Windows/NT user a means of viewing, converting and plotting CGM seismic image files. It also ensures that any valid CGM, CGM+, and CGM-PIP file will be handled correctly, the company says. The...

Crushing, padding unit for pipeline spreads.(Brief Article)
March 6, 2000... The GRUB-3000 self-propelled, radio-control-operated crushing and padding machines are specially designed and manufactured for pipeline construction operations. Units are recommended to work with crushed stones as well as mixed material,...

New high-pressure nitrogen membrane module.(Brief Article)
March 6, 2000... A new membrane module--the Generon 7200HP--is tailored for applications where high-pressure nitrogen delivery is required (greater than 300 psi, or 20.7 bar). The unit is suited for applications such as offshore rigs and well...

Pump equipment brochure.(Brief Article)
March 6, 2000... Hot oil units and related pressure pumping equipment are presented in a new free brochure, available on the company's website at www.keywayinternational.com, or from the company's office location listed here. Source: Keyway Div., Tulsa...

MOVES AND PROMOTIONS.(brief articles)(Brief Article)
March 6, 2000... Western Geophysical, Houston, Tex., has named Mike McCormic vice president, marketing. He will be responsible for developing marketing and sales strategy, as well as worldwide account management. McCormic began his career with Western...

Ekho deep test is spud amid San Joaquin Valley uncertainty.(Brief Article)
March 6, 2000... Members of Project Ekho have spudded what is billed as the first of three wells to test deep gas potential in California's San Joaquin Valley. Tri-Valley Oil & Gas Co., Bakersfield, had drilled past 11,000 ft by mid February at the 1 Ekho...

Over space, spectra, time, satellite data can improve exploration, other planning.
March 6, 2000... Imaging satellites are used every day to design seismic surveys, find least-cost pipeline routes, to site, build, and maintain facilities, to do corridor maintenance, and to help us work smarter in every phase of exploration. We don't have to...

Historic Gulf of Mexico gas field responds to redevelopment.(Brief Article)
March 6, 2000... One of the Gulf of Mexico's oldest fields has responded positively to a redevelopment program that began last year. Vermilion 39 gas, oil, and condensate field, discovered in 1948, attained record production of 17,500 boe/d in the last few...

API IMPORTS OF CRUDE AND PRODUCTS.(Brief Article)
March 6, 2000... API IMPORTS OF CRUDE AND PRODUCTS District 1-4 District 5 Total U.S. 2-25 2-18 [1] 2-25 2-18 [1] 2-25 ...

OGJ CRACK SPREAD.(Oil and Gas Journal)(tabular data only)(Brief Article)(Statistical Data Included)
March 6, 2000... OGJ CRACK SPREAD 2-25-00 [*] 2-26-99 [*] Change % $/bbl Change SPOT PRICES Product value 34.44 13.47 20.97 155.7...

API CRUDE AND PRODUCT STOCKS.(American Petroleum Institute)(tabular data only)(Brief Article)(Statistical Data Included)
March 6, 2000... API CRUDE AND PRODUCT STOCKS Motor gasoline Blending Jet fuels Crude oil Total Comp. [2] ...

API REFINERY REPORT--FEBRUARY 25, 2000.(American Petroleum Institute)(tabular data only)(Brief Article)(Statistical Data Included)
March 6, 2000... API REFINERY REPORT--FEBRUARY 25, 2000 REFINERY OPERATIONS Total Input refinery Crude to crude Operable %...

OGJ GASOLINE PRICES.(Brief Article)
March 6, 2000... OGJ GASOLINE PRICES Price Pump Pump ex tax price [*] price 2-23-00 2-23-00 2-24-99...

REFINED PRODUCT PRICES.(Brief Article)
March 6, 2000... REFINED PRODUCT PRICES 2-18-00 ([cent]/gal) Soot market product prices Motor gasoline (Conventional-regular) New York Harbor ...

BAKER HUGHES RIG COUNT.(tabular data only)(Brief Article)(Statistical Data Included)
March 6, 2000... BAKER HUGHES RIG COUNT 2-25-00 2-26-99 Alabama 1 5 Alaska 5 4 Arkansas 0 4 California 22 12 Land...

SMITH RIG COUNT.(Brief Article)
March 6, 2000... SMITH RIG COUNT 2-25-00 2-26-99 Proposed depth Rig % Rig % (ft) count footage [*] count footage [*] 0-2,500 19 -- ...

OGJ PRODUCTION REPORT.(Oil and Gas Journal)(tabular data only)(Brief Article)(Statistical Data Included)
March 6, 2000... OGJ PRODUCTION REPORT 2-25-00 [1] 2-26-99 [2] (Crude oil and lease condensate) (1,000 b/d) Albama 33 32 Alaska ...

U.S. CRUDE PRICES.(tabular data only)(Brief Article)(Statistical Data Included)
March 6, 2000... U.S. CRUDE PRICES ($/bbl) [*] 2-25-00 Alaska-North Slope 27 [degrees] 18.88 Southern Louisiana Light 28.25 California-Kern RIver 13 [degrees] 24.00 Lost Hills 30...

WORLD CRUDE PRICES.(Brief Article)
March 6, 2000... WORLD CRUDE PRICES ($/bbl) [1] 2-18-00 United Kingdom-Brent 38 [degrees] 27.85 Russia-Urals 32 [degrees] 27.24 Saudi light 34 [degrees] 26.25 Dubai Fateh 32...

AGA NATURAL GAS STORAGE [*].(American Gas Association)(tabular data only)(Brief Article)(Statistical Data Included)
March 6, 2000... AGA NATURAL GAS STORAGE [*] 2-18-00 2-11-00 Change bcf Producing region 394 425 -31 Consuming region east 594 684 -90 Consuming region...

PACE REFINING MARGINS.(tabular data only)(Brief Article)(Statistical Data Included)
March 6, 2000... PACE REFINING MARGINS Dec. Jan. Feb. Feb. % 1999 2000 2000 1999 Change Change $/bbl U.S. Gulf Coast West Texas Sour 1.48...

U.S. NATURAL GAS BALANCE DEMAND/SUPPLY SCOREBOARD.(tabular data only)(Brief Article)(Statistical Data Included)
March 6, 2000... U.S. NATURAL GAS BALANCE DEMAND/SUPPLY SCOREBOARD Nov. Total YTD Nov. Oct. Nov. change YTD change ...

WORLDWIDE NGL PRODUCTION.(natural gas liquids)(tabular data only)(Brief Article)(Statistical Data Included)
March 6, 2000... WORLDWIDE NGL PRODUCTION 11 month Chg. vs. average previous Nov. Oct. Production year...

OXYGENATES.(methyl tertiary-butyl ether and ethanol)(tabular data only)(Brief Article)
March 6, 2000... OXYGENATES Dec Nov. YTD YTD 1999 1999 Change 1999 1998 Change 1,000 bbl Fuel ethanol Production 3,102 2,998 104 35,040 33,028...

U.S. HEATING DEGREE DAYS [1].(tabular data only)(Brief Article)(Statistical Data Included)
March 6, 2000... U.S. HEATING DEGREE DAYS [1] 1999% change Total degree days July 1 through ...

Pakistan's Economic Coordination Committee.(support for pipeline project near Punjab province)(Brief Article)(Statistical Data Included)
March 6, 2000... Pakistan's Economic Coordination Committee issued a letter of support to Pak Arab Refinery Co. Ltd. (PARCO) for laying a proposed 800-km light refined products pipeline from Karachi to Mehmood Kot near Multan, Punjab province (OGJ, Mar. 29,...

Newsletter.(Brief Article)
March 13, 2000... Oil prices are showing the greatest volatility since the 1990-91 Persian Gulf crisis amid heavy US pressure on key OPEC nations and conflicting signals from OPEC ministers. NYMEX crude for April delivery rocketed $1.95 to $34.13/bbl at...

US INDUSTRY SCOREBOARD 3/13.(Brief Article)
March 13, 2000... US INDUSTRY SCOREBOARD 3/13 4 wk. 4 wk. avg. % Year-to-date Latest week 3/3 average year ago [1] change average [1] Demand (1,000 b/d) Motor gasoline ...

LETTERS.(Brief Article)
March 13, 2000... Corporate social responsibility I'm writing this letter in response to the article by Richard Dion (OGJ, Feb. 21, 2000, p. 21). The article addressed the very important issue of corporate social responsibility in underdeveloped areas in...

Energy in the real world.(Brief Article)
March 13, 2000... Petroleum industry calendars this time of year swarm with conventions and conferences. This week in Atlanta, it's the Gas Processors Association. (See the Focus on Gas Processing, p. 51.) In February, it was the US Pipe Line Contractors...

Prices and regulation.(Brief Article)
March 13, 2000... The refining industry should try to parlay concern over the price of oil into attention to the costs of environmental regulation. In the US, those costs are soaring. Last year, while oil inventories were plummeting, the Environmental...

Restructuring, consolidation top solutions for Russia's major oil companies' woes.(Brief Article)
March 13, 2000... How does a country with such a vast natural resource base as Russia find itself on the verge of fiscal and economic insolvency? Will the Russian oil and gas sector ever attract the large-scale financing required to develop its...

ExxonMobil's Japanese affiliates to merge.(Brief Article)
March 13, 2000... Japan's General Sekiyu KK and Tonen Corp.--both affiliates of ExxonMobil Corp.--have agreed to merge in a bid to streamline operations and cut costs. General Sekiyu will be the surviving entity, while Tonen will be dissolved. The new...

Valero acquires California refinery, outlets.(Brief Article)
March 13, 2000... Valero Energy Corp.'s $895 million-plus purchase of ExxonMobil Corp.'s Benicia refinery and 340 marketing outlets in California marks the San Antonio independent refiner's entry into retail operations, along with a major geographic...

BP Amoco-Sinopec to up ethylene capacity.(Brief Article)
March 13, 2000... BP Amoco PLC and a unit of China National Petrochemical Corp. (Sinopec) have agreed to boost planned capacity at their proposed Shanghai ethylene complex by a third to 850,000 tonnes/year. The increase, designed to accommodate...

Ivanhoe completes first phase of China pilot.(Brief Article)
March 13, 2000... Sunwing Energy Ltd.--a wholly owned subsidiary of Ivanhoe Energy Inc., Calgary--and its partners have completed the first phase of a pilot oil field redevelopment program in East China. The pilot is part of the 22,400-acre Kongnan project...

Timor gas to feed Aussie syngas megaproject.(Brief Article)
March 13, 2000... Efforts by offshore northern Australian gas developers to secure a market for their gas have evolved beyond LNG and other conventional supply options to encompass a world-scale synthesis gas (syngas) generation plant with downstream...

DOE selects two stripper gas R&D projects.(Brief Article)
March 13, 2000... The US Department of Energy has selected two research projects to assist production from the 192,000 stripper gas wells in the US. DOE said that more than half of the onshore natural gas wells in the Lower 48 states are strippers, defined...

Totalfina Elf.(Brief Article)
March 13, 2000... Totalfina Elf and the French government plan to use a novel approach to pump out the 146,000 bbl of heavy fuel oil that remains in the sunken Erika tanker, which broke up Dec. 12 off the coast of France (see Watching Government, p. 34, and OGJ,...