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"Lel Bruce Peto" recommended 2000 oil chronology reading..

From: <info@lelpeto.com>
Date: Sun, 23 Feb 2003 12:26:56 -0600 (CST)
Message-ID: <53425.63.164.145.161.1046024816.squirrel@www.lelpeto.com>
To: www-dom-xpath@w3.org

"Lel Bruce Peto" recommended 2000 oil chronology reading..


 Oil & Gas Chronology :  Year 2000, partial.



February 2000

February 2 The Federal Trade Commission (FTC) acts to block the proposed 
merger between BP Amoco and Atlantic Richfield, saying the merger would 
unduly restrict competition along the West coast of the United States.

February 3 The United States Navy seizes the Russian tanker Volgoneft-147 
in the Persian Gulf. The vessel is transporting a cargo of smuggled Iraqi 
gasoil in violation of United Nations sanctions against Iraq.  

February 8 Russia's second largest oil company, Yukos Oil, announces an 
agreement with state oil pipeline company Transneft to build a $1.7 
billion oil pipeline from Siberia to China. The pipeline would run from 
Angarsk in Siberia to Beijing. 

February 11 Occidental Petroleum agrees to buy Altura Energy, the onshore 
U.S. oil exploration joint venture between BP Amoco and Shell, for $3.5 
billion. Altura produces about 110,000 barrels per day of crude oil, 
mostly in West Texas and New Mexico. 

February 14 The price of West Texas Intermediate crude oil closes on the 
New York Mercantile Exchange at $30.30 per barrel, the highest price (in 
nominal terms) since the Gulf War in 1991. 

February 16 The United States announces sanctions against the Greater Nile 
Petroleum Operating Company (GNPOC), which is developing oilfields in 
Sudan. The sanctions prohibit American firms and individuals from doing 
business with GNPOC, but do not cover the foreign parent companies of 
GNPOC, which include China National Petroleum Corporation (CNPC), 
Petronas, and Talisman Energy. 

February 18 Iranian voters go to the polls to elect members of parliament. 
The election results in a landslide victory for reformist candidates 
allied with Iranian President Mohammed Khatami. 

February 21 General Electric announces a breakthrough in the design of 
natural gas power generating plants, using steam instead of air to cool 
turbine blades. According to the company, the new design will use about 5 
percent less natural gas per unit of power generated than the best 
existing technologies. 

February 24 BP Amoco announces that it plans to make $2.5 billion in 
investments in the development of natural gas reserves at the In Salah 
field in Algeria. Gas deliveries to Europe from the field are expected to 
start in 2003. 

February 24 Saudi Arabia announces that it intends to invite 
representatives of companies which have submitted bids for natural gas and 
petrochemical investment in the country to talks which will be held in 
late March 2000, shortly after the end of the Muslim haj pilgrimage 
season. 

February 26 Secretary of Energy Bill Richardson meets with Saudi Arabian 
Petroleum Minister Ali Naimi in Riyadh to discuss the recent rise in crude 
oil prices. The meeting is part of an overseas tour which includes stops 
in Mexico, Norway, Egypt, Israel, Saudi Arabia, and Kuwait. In a joint 
statement, Naimi pledged to "continue to review oil supply and demand 
levels to ensure market stability, prevent oil price volitility, and avoid 
harming the world economy." 

February 27 BP Amoco and Atlantic Richfield hold talks with the Federal 
Trade Commission (FTC) on their proposed merger, which the FTC has filed 
suit in a federal court to block. The two companies have reportedly 
offered major concessions, including a much larger sale of Alaskan North 
Slope production assets.

February 27 Columbia Energy agrees to be acquired by NiSource, ending an 
eight month long takeover battle. The deal is valued at $6 billion, will 
make NiSource the largest natural gas company east of the Rocky Mountains. 

February 28 Arabian Oil Company, the Japanese firm which produces crude 
oil in the Neutral Zone of Kuwait and Saudi Arabia, announces the 
expiration of its concession for production in the Saudi half of the Zone. 
The firm's concession for the Kuwaiti portion of the Neutral Zone expires 
in 2003.
Received on Sunday, 23 February 2003 12:46:02 GMT

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