Forged

ExxonMobil Corp. and Russia’s OAO Rosneft said Tuesday they have forged an agreement to jointly explore and develop projects in North America, including the tight oil fields of Texas and the Gulf of Mexico (GOM), as well as in Russia and other countries around the world. The two oil giants also agreed to share technology in the wide-ranging transaction.

ExxonMobil Corp. and Russia’s OAO Rosneft said Tuesday they have forged an agreement to jointly explore and develop projects in North America, including the tight oilfields of Texas and the Gulf of Mexico (GOM), as well as in Russia and other countries around the world. The two oil giants also agreed to share technology in the wide-ranging transaction.

The G-20 nations Sunday in Toronto pledged to continue with their effort to phase out subsidies for oil, natural gas and coal. But the agreement — like the one forged at the summit in Pittsburgh last year — lacks teeth because it doesn’t include a timetable for when the subsidies should be unwound (see Daily GPI, Sept. 28, 2009).

Anyone watching North American natural gas prices might blanch at the thought of christening a liquefied natural gas (LNG) import terminal, but Spain’s Repsol forged ahead recently with the opening of its Canaport facility at Mispec Point, near Saint John, NB. Repsol Energy North America (RENA) President Phil Ribbeck noted that winter is coming and he expects cargo traffic to ramp up soon and into next year.

Anyone watching North American natural gas prices might blanch at the thought of christening a liquefied natural gas (LNG) import terminal, but Spain’s Repsol forged ahead recently with the opening of its Canaport facility at Mispec Point, near Saint John, NB. Repsol Energy North America (RENA) President Phil Ribbeck noted that winter is coming and he expects cargo traffic to ramp up soon and into next year.

The G-20 nations Friday were said to have forged an agreement to phase out subsidies for oil, natural gas and coal, but the document reportedly lacks teeth because it doesn’t provide a timetable for when the subsidies should end.

The G-20 nations Friday were said to have forged an agreement to phase out subsidies for oil, natural gas and coal, but the document reportedly lacks teeth because it doesn’t provide a timetable for when the subsidies should end.

In response to a case forged in the extreme wholesale natural gas price volatility times of December 2000, the California Public Utilities Commission Thursday took the middle ground in applying its policy restricting the switching of large commercial/industry customers back and forth between non-core and core status. In the latter case, customers want utility protection when gas rates spike.

Marking an evolution from a gas supply and storage partnershipforged last year, Peoples Energy Corp. and Enron North AmericaCorp. (ENA) announced plans last week to move into the Chicagopower generation market. The two companies said the jointly plan tocreate a Chicago portfolio of at least 800 MW.