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The US oil industry's three trade associations, the American Petroleum Institute (API), the Independent Petroleum Assn of America (IPAA)and the National Petroleum Refiners Assn (NPRA) have outlined the planned changes to be made with their respective organizations to respond to the new demands of the industry. The API plans to streamline membership in its committees, inviting those which will be affected by issues to sit in committee chairs to facilitate the decision making process. The IPAA plans to widen its network, to include more members from regional groups while the NPRA is expected to be active in the lobbying activities of the industry.

The results of the 15th annual survey and analysis of worldwide oil and gas exploration and production (E&P) spending conducted by Salomon Brothers show a 14.7% increase in planned E&P spending for 1997. The estimate is believed to be the largest planned increase since 1987. The New York-based investment banking firm's survey also shows that the spending plans of most oil companies will continue to be based on the projected oil and gas prices. It is believed that much of the E&P budgets will be spent on overseas drilling activities.

US oil and gas companies are intensifying exploration and production activities in Latin America despite problems regarding privatization in the region. Dallas, TX-based Triton Energy Ltd. was one of the first US independent producers to venture in South America, where it found the Cusiana Field in Colombia. British Petroleum Co. PLC is Triton's partner in the project. Houston, TX-based Hondo Oil and Gas Co. has also been focusing on exploring and developing the Opon natural gas field.

NatWest Securities Ltd. economist Fergus MacLeod predicts that the prevailing price stability in the oil industry will continue in the long-term. He noted that modestly high prices are a result of renewed strength between energy demand and supply. MacLeod believes that petroleum supplies outside OPEC will begin to decline after 1996. Despite his positive outlook, MacLeod warned of a possible short-term price decline marked by a levelling off of prices between $18 and $19 per barrel.

Several independent petroleum and gas production companies such as Cross Timbers Oil Co. and Union Pacific Resources Group Inc. intend to increase their capital outlays in 1996 in response to higher prices during the 1st of 1996. The increased capital spending will go to expand new and existing production sites. One company that does not intend to boost capital spending is Anadarko Petroleum Corp. which already came into 1996 with a higher capital budget.

American Petroleum Institute president Jack N. Gerard said the oil and gas industries are hoping that United States president Barack Obama's State of the Union Address would reflect cooperation with the sector. Gerard said he expects Obama to focus on job creation. His views on US Interior secretary Ken Salazar's relationship with the industry are also given.

The United States Congressional Budget Office said the 2009 American Clean Energy and Security bill will add $846 billion in petroleum industry taxes. The bill would introduce a domestic carbon emissions cap-and-trade program. The American Petroleum Institute, for its part, said the bill can affect employment.

United States president-elect Barack Obama has promised to invest in alternative energy sources to generate employment and reduce the country's dependence on oil. Federal legislators have seen the voters' need for more domestic oil. Comments from industry executives are also presented.

Oil and gas companies face tougher technical challenges as they drill for oil and gas in deeper waters. Drilling a single oil or gas well can cost as much as $250 million, especially when drilling in depths of between 8,000 and 28,00 feet.

A motion to invoke cloture in the U.S. Senate during the deliberation of the energy bill failed to get the necessary votes to move the bill forward . Oil and gas trade associations are opposing the tax increases that the energy bill would impose saying that these would discourage investments and make the industry less competitive worldwide.

The Estimates done by the Congressional Budget Office shows that the spending on energy related areas will increase form $ 2.2 billion from the year 2005 to 2010 and impact on the federal revenue by decreasing it by $ 7.9 billion. The impacts of this on taxpayers and other field are discussed.

The article reports that Trump administration is following through onits promise to reform federal regulations enacted during Barack Obama's presidency according to officials from leading US oil and gas associations.

The article focuses on Colorado Proposition 112, a statewide minimum distance requirement for new oil and gas development, by Colorado Petroleum Council (CPC) Executive Director Tracee Bentley. Topics discussed include affiliation to American Petroleum Institute (API), and presents comments from various offices of API, such as Rolf Hanson, Karen Moreau, and David McGowen.

When Questar Corp. agreed to buy Shenandoah Energy Inc. this summer for $406 million in cash and assumed debt, it was the largest acquisition of producing oil and gas assets [...]

Culminating discussions that began soon after their separate spinoffs from Unocal more than 35 years ago, Global Marine Inc. and Santa Fe International Corp. plan to merge. The combined company, [...]

Venezuela's proposed new energy law would allow private companies to participate in oil production, refining and commercialization for the first time since the South American country nationalized the oil industry [...]

No one disputes the Caspian Basin's oil and gas potential. The area's resources are considerable, but the logistics of getting what's produced there to market are formidable. That's why meaningful [...]

Faced with falling North American natural gas prices, producers have begun to rebuild hedges they pruned earlier this year. Risk-management instruments that looked like liabilities when gas prices climbed during [...]

Oil-country tubular-goods suppliers clearly benefited as domestic drilling accelerated during the second quarter. Lone Star Technologies Inc., Maverick Tube Corp. and NS Group Inc. each reported record earnings for the [...]

What if the experts scheduled an energy crisis, and nobody came? At first glance, that seems to have occurred in the summer of 2001. California was supposed to run short [...]

Although independent producers' stock prices fell dramatically from March 31 to the end of June, they could drop even more, Wall Street oil analysts warned as 2001's second quarter ended. [...]

Anadarko Petroleum Corp. (NYSE: APC) has won in a bid for Gulfstream Resources Canada Ltd. (Toronto: GUR) against an unsolicited offer by Australian independent Roc Oil Co. Ltd. 'The Gulfstream [...]

Citing increased drilling for natural gas in North America and more activity in international markets, Salomon Smith Barney Inc. raised its 2001 worldwide rig count forecast to 2,480 units from [...]

As North American natural gas prices eroded in mid-June, Helmerich & Payne Inc. directors approved the construction of 10 more new rigs and major equipment for the Tulsa drilling contractor's [...]

Denver's Westport Resources Corp. (NYSE: WRC) will vault into the ranks of the nation's 20 largest independent producers when it completes its $922-million purchase of Belco Oil and Gas Corp. [...]

Conoco Inc. (NYSE: COCA) has made a decisive move to expand its upstream portfolio with a C$9.8-billion (US$6.3-billion) purchase of Gulf Canada Resources Ltd. (NYSE: GOU). The addition of the [...]

The world's oil and gas producers are increasing their 2001 capital budgets beyond the healthy gains they established in December 2000, a survey of 350 producers indicates. The group's planned [...]

Oil and gas producers, who have wanted the government to appreciate their efforts to supply the country with energy, seem to have received that with the Bush administration's proposed national [...]

The Williams Cos. plans to increase its efforts to pursue Arctic gas and liquids development, according to Cuba Wadlington Jr., president of Williams Gas Pipeline. The company is also commencing [...]

Independents benefited from U.S. natural gas prices that were significantly higher year-to-year. Independent refiner-marketers got help from continued strong domestic refining margins. Integrated oil companies savored the rare simultaneous good [...]

Plains Resources Inc. will sell a portion of its interest in Plains All American Pipeline LP to an investor group for approximately $149.3 million, and take on James C. Flores [...]

In southern California, Occidental Petroleum Corp.'s gas assets have been extremely profitable. Of the company's worldwide gas production, 46% is in California. Tyler Dann, who follows the company for Banc [...]

Historical Canadian E&P profitability has been low in comparison to that of the world's other major producing regions, according to a new report. The Canadian Oil and Gas Industry Competitiveness [...]

U.S. natural gas demand is expected to increase steadily, reaching 25.4 trillion cubic feet (Tcf) per year by 2004 and 30.6 Tcf by 2015. At the same time, production growth [...]

U.S. producers managed a significant achievement in 2000: They spent lavishly, yet wisely, in replacing domestic reserves, John S. Herold Inc. says. The Norwalk, Connecticut-based research firm's 34th annual reserve [...]

Marathon Oil will be spun from its USX Corp. parent, after nearly two decades of sharing boardroom quality time with its U.S. Steel sibling. Nineteen years after it became part [...]

Not every producer and capital provider sees long-term reserve growth as the best route to high returns. Some believe aggressive exploitation, followed by a timely divestiture, is a better formula. [...]

Conventional wisdom has given the Gulf of Mexico a significant edge for several years as most likely to help meet growing U.S. natural gas demand because it is closer and [...]

As the Bush administration's energy policy task force, under Vice President Richard B. Cheney's direction, prepared its much anticipated recommendations, it was not surprising several other studies emerged. Most were [...]

Merrill Lynch & Co.'s global oil research team expects emerging market oil stocks to perform well during the next 12 months as a result of a positive oil price environment, [...]

As other large independents grew through megamergers, Apache Corp. made a string of timely asset acquisitions to become 65% bigger in less than two years. Those in the know at [...]

It was no surprise that many major oil companies' 2000 performances broke records, with steadily improving North American natural gas prices combined with crude oil prices that remained relatively strong [...]

Producers who spent years trying to stay afloat when commodity prices were depressed face a different challenge as 2001 gets under way--making the most of higher oil and gas prices. [...]

Offshore day rates have improved dramatically for both drilling contractors and oil-service companies, brightening their 2001 earnings prospects significantly. 'Overall, we've seen a very strong improvement in our markets,' reports [...]

Halliburton Co. (NYSE: HAL) is selling its Dresser Equipment Group (DEG) for $1.55 billion in cash to an investor group consisting of First Reserve Corp., Odyssey Investment Partners LLC and [...]

Days after it announced plans to invest C$380 million (US$260 million) in its existing western Canadian operations, Anadarko Petroleum Corp. (NYSE: APC) announced that it would buy Calgary independent Berkley [...]

ABN Amro Bank NV is broadening its North American oil and gas operations, with its planned acquisition of ING Barings LLC's North American brokerage, corporate finance, domestic equities, and futures [...]

When companies merge, there's always an extra chief executive officer. Usually, that person becomes vice chairman of the combined entity long enough to facilitate the combination. But the position often [...]

A year of sometimes record-high oil and gas prices put a definite spring in their step as a record number of producers converged on Houston for the 2001 North American [...]

Tight North American natural gas supplies and the strong prices that result will justify dayrate increases in the months ahead, drilling contractors and service-company executives say. They anticipate one of [...]