The Oil and Gas Journal articles from November 1995

The Oil and Gas Journal archives from November 1995

Prospects grow for an oil price plunge in 1996 resulting from an expected rollover of quotas at OPEC's Vienna meeting last week.(Brief Article)
November 27, 1995... Prospects grow for an oil price plunge in 1996 resulting from an expected rollover of quotas at OPEC's Vienna meeting last week. At OGJ presstime all signs pointed to an OPEC rollover of quotas at its Nov. 21 meeting. That, says London's...

Embattled Nigeria went on the defensive on the eve of OPEC's meeting mounting world condemnation of its hanging of nine political dissidents found guilty of murder. (Royal Dutch-Shell Group of Cos. defends LNG project)(Brief Article)
November 27, 1995... Embattled Nigeria went on the defensive on the eve of OPEC's meeting against mounting world condemnation of its hanging of nine political dissidents found guilty of murder. Oil Minister Dan Etete handed out a statement to the press at the...

Mexico's petroleum privatization is in full swing. (Petroleos Mexicanos petrochemical plants)(Brief Article)
November 27, 1995... As expected (OGJ, Nov. 6, p. 15), Pemex last week disclosed its tender for bids on the big petrochemical complex at Cosoleacaque, site of five ammonia plants, a paraxylene plant, and a hydrogen unit. It produces 2.1 million metric tons/year, or...

A group of 22 Canadian gas marketers and producers is considering a $3 billion (Canadian), 1,864 mile gas pipeline from British Columbia to the Chicago area.(Brief Article)
November 27, 1995... A group of 22 Canadian gas marketers and producers is considering a $3 billion (Canadian), 1,864 mile gas pipeline from British Columbia to the Chicago area. The companies, including Imperial and PanCanadian, plan to have a $2 million economic...

API predicts U.S. distillate supplies will be adequate this winter to meet projected heating oil demand, barring unforeseen disruptions. (American Petroleum Institute)(Brief Article)
November 27, 1995... API predicts U.S. distillate supplies will be adequate this winter to meet projected heating oil demand, barring unforeseen disruptions. Although distillate stocks are somewhat lower than average, they are within the normal historical range,...

The Woodside group has started production from Wanaea/Cossack oil fields complex off Northwest Australia.(Brief Article)
November 27, 1995... The Woodside group has started production from Wanaea/Cossack oil fields complex off Northwest Australia. Combined output is expected to reach to design capacity of 115,000 b/d by yearend. Production from five conventional Wanaea subsea wells...

In a further sign of petrochemical industry restructuring, Bayer AG has acquired the engineering plastics business of Monsanto Co. in a $580 million deal that will make it the world's no. 2 producer of acrylonitrile butadiene styrene.(Brief Article)
November 27, 1995... In a further sign of petrochemical industry restructuring, Bayer AG has acquired the engineering plastics business of Monsanto Co. in a $580 million deal that will make it the world's No. 2 producer of acrylonitrile butadiene styrene (ABS). It...

Nigerian wretchedness.(Royal Dutch-Shell Group of Cos.'s position in Nigeria)(Editorial)
November 27, 1995... In a wretched situation, the proper urge is to distinguish between constructive and destructive behavior and act accordingly. Of course, wretched situations by nature make possibilities for constructive behavior painfully obscure. Nigeria is...

Protest over Brent spar disposal claims spotlight off NW Europe.(offshore oil events in 1995)
November 27, 1995... Northwest Europe's offshore oil activity was troubled no more than usual by the region's turbulent weather this year. However, public protest over a plan to dump an idle North Sea loading buoy hit operators like a hurricane. Shell U.K....

Reentry directional drilling pays off for Texaco.(Texaco Exploration and Production Inc.)
November 27, 1995... Texaco Exploration & Production Inc. (TEPI) has applied new directional drilling capabilities in successful well reentry programs in mature U.S. fields about 1,000 miles apart. In Aneth field of San Juan County, Utah, the company recently...

Big outlays seen required for gas pipelines in Russia.(Gazprom, European Bank for Reconstruction and Development report on Russian pipeline upgrades)(Brief Article)
November 27, 1995... A study by Russia's Gazprom and the European Bank for Reconstruction & Development (EBRD) has cited a need for more than $3 billion to be spent to improve Russia's massive gas pipeline grid. EBRD said $500 million/year will need to be spent...

Elf's space program off Congo.(Societe Nationale Elf Aquitaine S.A. offshore platforms)(Brief Article)
November 27, 1995... The most obvious way to develop Nkossa field off Congo would have been to install two large drilling and production platforms with offloading into oil and liquid petroleum gas storage tankers. Instead, Elf Aquitaine SA is using two wellhead...

DOE dealing with problems in SPR sites.(Strategic Petroleum Reserves)
November 27, 1995... The Department of Energy has begun moving 72 million bbl of oil out of its Weeks Island, La., Strategic Petroleum Reserve site because a naturally occurring fracture threatens the integrity of underground storage chambers. Meanwhile, at...

API session focuses on U.S. motor fuels.(American Petroleum Institute 1995 annual meeting)
November 27, 1995... The politics of vehicle fuel bubbled beneath the surface at the American Petroleum Institute's annual meeting this month in Houston. While API officials recommended partnerships within and among industries to pursue regulatory reform,...

Sabic to slash ethylene exports to Europe.(Saudi Arabian Basic Industries Corp.)(Brief Article)
November 27, 1995... Saudi Arabian Basic Industries Corp. (Sabic) has warned European traders and shippers it will sharply cut ethylene exports to their region next year. OPEC News Agency (Opecna) quoted European Union sources as saying Sabic will slash ethylene...

Outlet expanded for Austin chalk gas in SE Texas.(Mitchell Energy and Development Corp., Union Pacific Resources Co. gas gathering system)(Brief Article)
November 27, 1995... Mitchell Energy & Development Corp., The Woodlands, Tex., and partner Union Pacific Resources Company (UPR), Fort Worth, have completed a gas gathering system and treating plant in the Austin chalk trend of southern Grimes and Washington...

Gas flareup.(American Petroleum Institute report on use of gas fuels)(Brief Article)(Column)
November 27, 1995... The simmering dispute between the U.S. oil and gas industries over the future of natural gas as a transportation fuel has flared into the open again. The American Petroleum Institute released a booklet at its recent annual meeting entitled...

Maritrans Inc. (plans to build up to six double hull tankers for transport of refined products, setting up subsidiary Maritrans Ocean Transport Inc. to handle contracts for construction)(Tankers)(Brief Article)
November 27, 1995... Maritrans Inc., Philadelphia, will build as many as six double hull refined products tankers the next 3-4 years ata cost of about $45 million each. The 40,000 dwt vessels will be used in U.S. trade. Maritrans formed a subsidiary, Maritrans...

Calpine Corp. (contract with Constructora y Perforada Latina S.A. de C.V. for Calpine to offer financial and technical assist to Constructora in a geothermal project in Baja California)(Geothermal)(Brief Article)
November 27, 1995... Calpine Corp., San Jose, Calif., agreed to participate with Mexico's Constructora y Perforada Latina SA de CV (Coperlasa) in a 160,000 kw contract at the Cerro Prieto geothermal site in Baja California. The contract is between Coperlasa and...

A U.S. bankruptcy court. (Chapter 11 reorganization plans confirmed for Columbia Gas System Inc. and Columbia Gas Transmission Corp.)(Pipelines)(Brief Article)
November 27, 1995... A U.S. bankruptcy court confirmed Chapter 11 reorganization plans for Columbia Gas System Inc. (CGS) and its pipeline subsidiary Columbia Gas Transmission Corp. (CGT). The two have been operating as debtors-in-possession since July 31, 1991....

Petroleo Brasileiro SA. (contract with Coflexip Stena Offshore Group for flexible pipe umbilicals installation)(Pipelines)(Brief Article)
November 27, 1995... Petroleo Brasileiro SA let an $85 million contract to Coflexip Stena Offshore Group, Paris, for installation of flexible pipe umbilicals in 1,000 m of water off Brazil. The Flexservice 1 pipelay vessel will begin in January 1997 a 4 year work...

EOTT Energy Partners LP. (acquiring crude oil gathering system and crude oil pipeline from Amerada Hess Corp.)(Pipelines)(Brief Article)
November 27, 1995... EOTT Energy Partners LP, Houston, agreed to buy a 265 mile crude oil gathering system and a 349 mile common carrier crude oil pipeline extending from Mobile, Ala., to Liberty Station, Miss., from Amerada Hess Corp. for $54 million, excluding...

Tejas Power Corp. (increasing capacity of its Galveston Island Gathering System gas reserve off Texas through contract with Walter Oil & Gas Corp. and completion of well by Seagull Energy Corp.)(Pipelines)(Brief Article)
November 27, 1995... Tejas Power Corp., Houston, added about 30 bcf of dedicated gas reserves from two blocks off Texas to its Galveston Island Gathering System (GIGS). Tejas signed a long term purchase contract with Walter Oil & Gas Corp. covering production from...

Poland's. (Petrochemia Plock SA gets license for H-Oil unit from HRI Inc.)(Refining)(Brief Article)
November 27, 1995... Poland's Petrochemia Plock SA acquired a license from HRI Inc., a unit of Institut Francais du Petrole (IFP), for the first H-Oil unit in Poland. Plans call for installing a 33,700 b/d H-Oil unit at Petrochemia's 300,000 b/d Plock refinery. It...

Total. (Total Campagnie Francaise des Petroles S.A. starting addition of ethyl tertiary butyl ether unit to one of its refineries; Ethanol Holding and General Confederation of Beet Planters hold an interest in the project)(Refining)(Brief Article)
November 27, 1995... Total started work on an ethyl tertiary butyl ether (ETBE) unit at its 309,000 b/d Normandy, France, refinery. The $30 million, 3,180 b/d unit is to go on stream by yearend 1996. Using IFP technology, the unit will use as feedstock about 9.4...

Norsk Hydro AS. (contract awarded to Haugesund Mekaniske Verksted for semisubmersible production system)(Drilling-production)(Brief Article)
November 27, 1995... Norsk Hydro AS let a $480 million engineering, procurement, and construction contract to Haugesund Mekaniske Verksted (HMV) yard, north of Stavanger, for a semisubmersible production unit for installation in Block 34/8 Visund field off Norway,...

Clayton Williams Energy Inc. (claims world record for fourth time in 1995 for length of dual slim-hole horizontal well lateral)(Drilling-production)(Brief Article)
November 27, 1995... Clayton Williams Energy Inc. (CWEI), Midland. Tex.. claimed its fourth world record this year for length of a dual slim-hole horizontal well lateral. The 1 Merka Unit in Robertson County, Tex., was completed in Austin chalk with dual stacked...

Whiting Petroleum Corp. (acquires gas and oil producing leases from Transfuel Inc.)(Drilling-production)(Brief Article)
November 27, 1995... Whiting Petroleum Corp., Denver, acquired the Gulf Coast and Mid-continent oil and gas producing leases of Transfuel Inc.. the Houston unit of Diamond Energy. Los Angeles, for $16.8 million. The deal adds 425 b/d of oil and 6.3 MMcfd of gas to...

International Finance Corp. (investing in India Oil & Gas Finance Facility, which will provide capital for gas and oil development in India)(Drilling-production)(Brief Article)
November 27, 1995... International Finance Corp. is investing $8 million in the India Oil & Gas Finance Facility, which will provide equity and financing for $1-4 million small and medium size oil and gas development projects in India. Creditcapital Venture Fund...

University of Alabama. (contract with BDM-Oklahoma and Department of Energy for research on reservoir management)(Drilling-production)(Brief Article)
November 27, 1995... University of Alabama, BDM-Oklahoma, and the U.S. Department of Energy signed a cooperative research and development agreement to conduct a reservoir management project in Citronelle oil field, Mobile County, Ala. The focus will be on...

Devon Energy Corp. (acquiring various gas and oil leases and gas processing plant from unnamed company)(Drilling-production)(Brief Article)
November 27, 1995... Devon Energy Corp., Oklahoma City, agreed to purchase certain Wyoming oil and gas leases and a gas processing plant from an undisclosed company for about $50 million. The leases are in a 24,646 acre federal unit in North Central Wyoming and...

Vintage Petroleum Inc. (acquiring producing oil fields in Argentina from two companies)(Drilling-production)(Brief Article)
November 27, 1995... Vintage Petroleum Inc., Tulsa, agreed to buy producing acreage in Argentina for $56.9 million cash under separate agreements with Astra Cia. Argentina Petroleo SA and Shell Cia. Argentina de Petroleo SA. Vintage will acquire 100% working...

Bitumenes Orinoco SA. (company's unit, Bitor Europe, in contract with ENEL to supply Orimulsion fuel)(Alternate fuels)(Brief Article)
November 27, 1995... Bitumenes Orinoco SA unit Bitor Europe signed a contract to supply 500,000 metric tons of Orimulsion, the Venezuelan heavy oil/water emulsion boiler fuel, to Italy's electric utility ENEL. ENEL will use the fuel at its Brindisi South power...

Premier Oil plc. (contract with Pertamina Humas P.T. for production sharing off Indonesia)(Exploration)(Brief Article)
November 27, 1995... Premier Oil plc, London, signed a production sharing contract to explore the Halmahera block off Indonesia. The block, covering 15,750 sq km east of Sulawesi, has seen exploration limited to acquisition of only 700 line km of seismic data. The...

HS Resources Inc. (joint venture with Aspect Resources LLC forming 50-50 limited liability company with rights and interests to petroleum-bearing properties in Louisiana and Texas)(Exploration)(Brief Article)
November 27, 1995... HS Resources Inc., San Francisco, and Aspect Resources LLC agreed to form a 50-50 limited liability company giving HS various seismic rights, options, and mineral interests in more than 68,000 gross acres in shallow and deep reservoirs of South...

The Argentine unit. (of Seven Seas Petroleum Inc. is investing in prospect in Argentina)(Exploration)(Brief Article)
November 27, 1995... The Argentine unit of Seven Seas Petroleum Inc., Houston, signed a letter of intent to acquire a 25% working interest in a 7,000 acre prospect in Argentina's San Jorge basin from an undisclosed company. A wildcat targeted to 8,200 ft will spud...

Conoco Inc. (in joint venture with Alliance Gas Services Inc. to market natural gas)(Gas Marketing)(Brief Article)
November 27, 1995... Conoco Inc. and Alliance Gas Services Inc. agreed to a 50-50 venture to market natural gas. Conoco sells more than 2.2 bcfd, Alliance about 175 MMcfd.

Conwest Exploration Company Ltd. (operations started at gas processing plant in Alberta)(Gas processing)(Brief Article)
November 27, 1995... Conwest Exploration Company Ltd., Calgary, started commissioning a gas processing plant at Sexsmith, Alta. The plant is handling about 80 MMcfd, a volume set to rise to 150 MMcfd as the plant reaches capacity in December. Conwest holds permits...

Tenneco's. (plastics division closes on acquisition of Mobil Plastics)(Companies)(Brief Article)
November 27, 1995... Tenneco's plastics division closed the purchase of Mobil Chemical Co.'s plastics division for $1.27 billion. Mobil Plastics is one of the biggest U.S. manufacturers and marketers of plastic packaging and consumer products.

PanCanadian Petroleum Ltd. (agreement reached with Lasmo and Scottish Marine Oil PLC on acquisition of Lasmo Nova Scotia Ltd.)(Companies)(Brief Article)
November 27, 1995... PanCanadian Petroleum Ltd., Calgary, agreed to buy Lasmo Nova Scotia Ltd. from Lasmo plc, London, for $60 million (Canadian). The subsidiary operates Cohasset and Panuke fields off Nova Scotia, where its net production is 11,400 b/d of oil.

Finland's. (Neste Oy selling shares to reduce government's stake in company)(Companies)(Brief Article)
November 27, 1995... Finland's Neste Oy reports the offering of shares in the state firm, which occurred Nov. 1-15, attracted many institutional and retail investors. The float raised $83 million and cut the government's stake in Neste to 83.6%. Helsinki aims to...

Melrose Energy plc. (acquisition bid made on Pentex Oil PLC)(Companies)(Brief Article)
November 27, 1995... Melrose Energy plc made a $48.4 million bid to take over Pentex Oil plc. Both are London companies. Pentex Chairman Henry Cameron welcomed the takeover, saying combining financial and management skills will speed development of the merged...

Ranger Oil Ltd. (acquires 94.4% of Czar Resources Ltd.)(Companies)(Brief Article)
November 27, 1995... Ranger Oil Ltd. acquired 65,119,187 common shares, or 94.4% of the total outstanding, of Czar Resources Ltd. as of the Nov. 14 expiration of its takeover offer. Ranger intends to acquire the remaining common shares of Czar under the compulsory...

Texas Pacific Group. (investing in Newscope Resources Ltd., which is changing name to Denbury Resources Inc.)(Companies)(Brief Article)
November 27, 1995... Texas Pacific Group, a Fort Worth investment partnership, agreed to acquire 45% of the fully diluted equity of Newscope Resources Ltd., Calgary, for $40 million. Newscope will be renamed Denbury Resources Inc. to reflect Newscope's wholly owned...

Phillips Petroleum Co. (construction begun to increase ethylene production)(Petrochemicals)(Brief Article)
November 27, 1995... Phillips Petroleum Co. started construction on two projects that will boost ethylene production at its Sweeny, Tex., refining/petrochemical complex to 4:5 billion lb/year from 3.6 billion lb/year. A debottlenecking involving addition of...

UOP and Norsk Hydro. (offering license for jointly developed new process that converts methanol to olefins)(Petrochemicals)(Brief Article)
November 27, 1995... UOP and Norsk Hydro are offering for license their new jointly developed process for converting methanol to olefins. The UOP/Norsk Hydro MTO demonstration unit that started up in June at Porsgrunn, Norway, processes 0.5 metric tons/day of...

Amoco Corp. (joint venture with Lone Star Energy for selling liquefied natural gas for use as transportation fuel)(LNG)(Brief Article)
November 27, 1995... Amoco Corp. and Lone Star Energy, a unit of Enserch Corp., Houston, formed a venture to sell liquefied natural gas as a transportation fuel in Texas. It will focus on railroads, transit vehicles, trucks, and airport ground support vehicles.

Coastal Corp. (unit Coscol Petroleum Corp. in joint venture with Sadkora AB for development of terminal to handle crude oil and refined products, and to market crude and products)(Terminals)(Brief Article)
November 27, 1995... Coastal Corp. unit Coscol Petroleum Corp. entered into a venture with Sadkora AB, Helsingborg, Sweden, to develop a crude oil and refined products terminal at Maardu, Estonia, and market crude and products from Russia and other former Soviet...

U.S. interstate pipelines ran more efficiently in 1994.(Pipeline Economics)(Industry Overview)
November 27, 1995... Regulated U.S. interstate pipelines began 1995 under the momentum of impressive efficiency improvements in 1994. Annual reports filed with the U.S. Federal Energy Regulatory Commission (FERC) show that both natural-gas and petroleum liquids...

Synthetic-based drilling fluids have many environmental pluses.
November 27, 1995... Synthetic-based drilling fluids have several technological and environmental advantages over water-based and oil-based drilling fluids and can cut total well costs in many cases. Spent drilling fluids and drilling cuttings are among the most...

Analysis shows magnitude of Z-factor error.(equations for natural gas compressibility factors)
November 27, 1995... Eight popular methods for obtaining the Z-factor for natural gas are compared to the Standing-Katz compressibility chart. Inaccurate Z-factors can lead to erratic gas reserves estimates and produced volume metering errors. Error magnitudes...

Croatian refiner meets waste water treatment standards, reduces fines.(INA Oil Refinery)
November 27, 1995... A new approach to waste water treatment at a refinery in Croatia produces effluent that not only meets the region's regulations for disposal into the Adriatic Sea, but also surpasses the refinery's specifications for recycling process water....

Foster Wheeler Energy Corp. (acquisition of Zack Power and Industrial Co.)(Brief Article)
November 27, 1995... Foster Wheeler Energy Corp., Clinton, NJ, has acquired the assets of Zack Power & Industrial Co., Gary, Ind. The addition of this union contractor allows the unit of Foster Wheeler Corp. to provide a broader range of services to its industrial...

Markets slow to develop for Niger delta gas reserves.(Nigeria, part 3)
November 27, 1995... Nigeria is often referred to as a gas province with some oil in it. Nigeria produces a very high quality, light, sweet crude oil but with a large percentage of associated gas derived from a high gas-to-oil ratio. Official proved gas reserves,...

William G. Lowrie. (president, Amoco Corp.)(Brief Article)
November 27, 1995... William G. Lowrie has been named president and director of Amoco Corp., Chicago. He served formerly as executive vice-president, exploration and production sector. L. Richard Flury will succeed Lowrie. He serves currently as senior...

John B. (Jay) Cheatham. (president, ARCO International Oil and Gas Co.)(Brief Article)
November 27, 1995... John B. (Jay) Cheatham has been named president of ARCO International Oil and Gas, Plano, Tex. Cheatham is currently Aiogc senior vice-president. He succeeds Marlan W. Downey, who will retire.

Danny Toledano. (president, chief financial officer, Isramco Inc.)(Brief Article)
November 27, 1995... Danny Toledano has been appointed president, chief financial officer, and chief operating officer of Isramco Inc., New York City. He succeeds William H. Houck as president.

Ralph P. Davidson. (chairman, Kelley Oil and Gas Corp.; Fair Colvin, Jr., president, chief executive officer)(Brief Article)
November 27, 1995... Ralph P. Davidson has been appointed chairman of Kelley Oil & Gas Corp., Houston. Fair Colvin Jr. has been appointed president and chief executive officer They succeed David L. Kelley. Davidson is former chairman of Time Inc. and Colvin served...

Hershal Kohut. (president, ARCO Marine Inc.)(Brief Article)
November 27, 1995... Hershal Kohut has been appointed president of ARCO Marine, Long Beach, Calif., subsidiary of ARCO Transportation Co. Kohut has been serving as acting head since Jerry A. Aspland's retirement in February.

L. Wilson Berry Jr. (president, Texaco Refining and Marketing Inc.)(Brief Article)
November 27, 1995... L. Wilson Berry Jr. has been appointed president of Texaco Refining and Marketing Inc. He succeeds Thomas M. Matthews, who has been appointed president of Texaco Natural Gas Inc. Roger L. Ebert will succeed Berry as regional director, U.K., and...

Rodney L. Gray. (president, Enron Global Power and Pipelines L.L.C.)(Brief Article)
November 27, 1995... Rodney L. Gray, chairman and chief executive officer of Enron Global Power & Pipelines, Houston, has been named to the additional position of president. He succeeds James M. Alexander, who has resigned but will remain as consultant.

Political hot spots still vex oil and gas companies and roil markets.
November 20, 1995... Royal Dutch/Shell denies reports it has delayed a final decision to proceed with a $4 billion LNG export project in Nigeria. A board meeting of Nigeria LNG Ltd., in which Shell holds 24%, was slated for Nov. 15 in London, and it had been...

Interprovincial is considering a second major expansion of its crude oil pipeline system from Alberta to Chicago and the U.S. Midwest. (Interprovincial Pipeline Ltd.)(Brief Article)
November 20, 1995... IPL plans a 120,000 b/d expansion and wants to build a second, 170,000 b/d phase from Superior, Wis., to Chicago. The $570 million (Canadian) project would move new volumes past Chicago into the Wood River, Ill., area. IPL contends there is...

Development of Colombia's supergiant Cusiana-Cupiagua oil fields complex has received a major financing boost. (from Japan's Export Import Bank)(Brief Article)
November 20, 1995... Japan's ExIm Bank extended a $300 million loan to Ecopetrol for Cusiana development costs the next 2 years. The Colombian state oil company is committed to provide about $2 billion for Cusiana development the next 2 years, including $850...

An end to Petrobras' petroleum monopoly in Brazil looms closer. (Petroleo Brasileiro S.A.)(Brief Article)
November 20, 1995... Brazil's senate last week approved in a second vote (OGJ, Oct. 30, p. 22) a constitutional amendment ending the state petroleum company's monopoly in E&P, transportation, refining, and exports and imports. By the end of November, a special...

Nymex is considering a futures contract for coal, which with the natural gas contract now trading and a proposed electricity contract would enhance interfuel trading and competition. (New York Mercantile Exchange)(Brief Article)
November 20, 1995... Nymex is Considering a futures contract for coal, which with the natural gas contract now trading and a proposed electricity contract would enhance interfuel trading and competition. At the API meeting in Houston last week, Nymex Pres. R....

Russia's government has approved a production sharing contract with Total covering development of Khariaga oil field in Timan-Pechora basin. (Total Compagnia Francaise des Petroles S.A.)(Brief Article)
November 20, 1995... Russia's government has approved a production sharing contract with Total covering development of Khariaga oil field in Timan-Pechora basin 60 km north of the Arctic Circle. Development is expected to cost $300 million in a first stage and $500...

Exxon and India's Hindustan Petroleum Corp. Ltd. have signed a memorandum of understanding in Bombay to study feasibility of forming a joint venture company to engage in a broad range of petroleum activities in India.(Brief Article)
November 20, 1995... Exxon and India's Hindustan Petroleum Corp. Ltd. have signed a memorandum of understanding in Bombay to study feasibility of forming a joint venture company to engage in a broad range of petroleum activities in India. The two will look at...

Exploration in frontier areas continues to advance. (Amoco Corp. and Agip S.p.A. find gas)(Brief Article)
November 20, 1995... Amoco has another gas strike in the Mediterranean off Egypt, confirming a significant Pliocene gas trend there. Its 1 Seth wildcat on Ras El Barr concession cut more than 375 ft of gas pay in seven zones at 4,600-8,100 ft in Pliocene sands....

Danish state oil company Danop plans to deepen a borehole in the Faroe Islands to gather information in preparation for an offshore licensing round scheduled for 1997.(Brief Article)
November 20, 1995... Danish state oil company Danop plans to deepen a borehole in the Faroe Islands to gather information in preparation for an offshore licensing round scheduled for 1997. The 1 Lopra scientific well was drilled to 2,000 m in 1981 on the island of...

Independents' issues. (Independent Petroleum Association of America)(Column)
November 20, 1995... Every year about this time Oil & Gas Journal devotes a sizable section of the magazine to articles tailor made for the interest of independent producers. The occasion is the annual meeting of the Independent Petroleum Association of America,...

OPEC's tough question. (Organization of Petroleum Exporting Countries)(Editorial)
November 20, 1995... Ministers of the Organization of Petroleum Exporting Countries should listen closely when they meet this week in Vienna. The sounds they hear will be waves of modernity pounding against their economic walls. The usual questions raised about...

Colombia pins hope for oil export hike on BP group's Cusiana-Cupiagua project. (BP Exploration Co. Colombia Ltd.)
November 20, 1995... Colombia pins hope for oil export hike on BP group's Cusiana-Cupiagua project Colombia is moving ahead rapidly with plans to boost oil exports as it lays the foundation of a market economy with a series of tax reforms. While the country's...

Pipeline contracts awarded for Cusiana project in Colombia.
November 20, 1995... Oleoducto Central SA (Ocensa) has finished awarding construction contracts for facilities needed to step up oil exports from Cusiana field in Colombia's Llanos basin. The contracts cover pipeline, pumps, and storage units to be installed in...

Free trade zone designations increase among U.S. refiners.
November 20, 1995... U.S. refiners who process imported crude increasingly are using free trade zone (FTZ) designations to improve their profits. A law establishing FTZs was passed in 1935 and updated in 1950. Sixteen refineries received FTZ status between 1972...

Drewry sees hike in oil tanker charter rates. (H.P. Drewry Shipping Consultants Ltd.)(Brief Article)
November 20, 1995... Charter rates for oil tankers are poised to rise to a peak just before the end of the 1990s. The increase will stem from slowly rising demand, tighter inspection requirements, and a slow pace in speculative building of vessels, says Drewry...

Joint $15 billion Aussie LNG project in the offing? (liquefied natural gas)
November 20, 1995... The race to expand to Australia's liquefied natural gas export capacity has shifted into high gear. Leading the pack are a proposed expansion of the $12 billion (Australian) Northwest Shelf LNG export project and a proposal to develop the...

California dreamin'. (differences between industry and environmental groups impact access to offshore petroleum reserves)(Column)
November 20, 1995... The second largest offshore oil province in the U.S. lies relatively close to the beaches of southern California but in many ways is the least accessible. Over the years, local opponents have been very successful in blocking oil leasing and...

How oil companies must adapt to survive in 2000 and beyond.(Transcript)
November 20, 1995... From a presentation to Price Waterhouse World Petroleum Industry Group's annual meeting, Houston The changing winds of competition are buffeting the oil industry. Companies are undertaking massive restructuring to respond to those changes...

Contract prices pinch British Gas as spot prices slip. (British Gas PLC, British Gas Trading, gas purchase contracts)(Brief Article)
November 20, 1995... British Gas plc has begun "informal discussions" with some of its U.K. gas suppliers over long term, fixed price, gas purchase contracts. Such contracts are a problem for British Gas because they require the company to pay significantly more...

Shell the target after Nigerian executions. (Greenpeace criticizes Royal Dutch-Shell Group of Cos. over November 10, 1995, executions of Ken Saro-Wiwa and eight others)(Column)
November 20, 1995... Twice this year Royal Dutch/Shell has become the main target for major public protests over its operations. Shell believed its plan to dispose of the Brent spar loading buoy in deep water was best for environmental and cost reasons. However,...

Northwest Shelf. (increase to liquefied natural gas export contract with Japan)(LNG)(Brief Article)
November 20, 1995... Northwest Shelf liquefied natural gas export project partners will increase LNG sales to Japanese customers by about 498,000 metric tons/year (see related story, p. 32). Under a current 20 year contract, Japanese utilities purchase 7.02 million...

Japan's. (Mitsui & Co., British Gas PLC and liquefied petroleum gas export project in Viet Nam)(LPG)(Brief Article)
November 20, 1995... Mitsui & Co. reportedly is pulling out of a $420 million liquefied petroleum gas export project in Viet Nam, while British Gas plc plans to scale down its share. The project calls for building an offshore gas compression platform and pipeline,...

Kerr-McGee Corp. (restructuring exploration and production division)(Companies)(Brief Article)
November 20, 1995... Kerr-McGee Corp. is restructuring its exploration and production division and laying off staff as a result of selling about half its oil and gas producing fields, mainly onshore in the U.S. and Canada. About 120 jobs, or 15% of Kerr-McGee's...