Negotiate

The Pennsylvania Supreme Court has introduced a measure of uncertainty into some ownership claims for the resource rights to Marcellus Shale gas, ordering a lower court to consider whether the owner of the shale also owns the shale gas in the same manner that state law declares that coalbed methane belongs to the owner of the coal.

OAO Rosneft has given BP plc until Monday (May 16) to negotiate an acceptable alternative to their historic share swap agreement announced in January. The “groundbreaking strategic alliance” to explore Russia’s largely unexplored Arctic region, considered key to BP CEO Bob Dudley’s plan to right the company, would give state-controlled Rosneft around 5% of BP’s ordinary voting shares in exchange for BP receiving 9.5% of Rosneft shares (see NGI, Jan. 17). However, BP already had joint venture (JV) exploration agreements with Alfa-Access-Renova (AAR), a Russian oligarch consortium, in TNK-BP. The group of Russian billionaires disputed the Rosneft alliance, and in March an arbitration tribunal extended an injunction of the agreement (see NGI, March 28). AAR in essence won its case before the tribunal, which said it would allow BP to move forward with the Rosneft share swap only if it agreed to cede its Arctic JV to TNK-BP.

Russia’s leading producer, OAO Rosneft, has given BP plc until next Monday to negotiate an acceptable alternative to their historic share swap agreement announced in January, which in total is estimated to be worth about $16 billion.

Canada’s National Energy Board (NEB) has granted the Mackenzie Gas Project (MGP) consortium five years to negotiate favorable financial and policy terms with the federal government for its C$16.2 billion (US$16 billion) arctic production and pipeline scheme.

Canada’s National Energy Board (NEB) has granted the Mackenzie Gas Project (MGP) consortium five years to negotiate favorable financial and policy terms with the federal government for its C$16.2 billion (US$16 billion) arctic production and pipeline scheme.

Wyoming Gov. Dave Freudenthal and four other top state officials on Thursday gave the go-ahead to the state treasurer to negotiate a $300 million investment in El Paso Corp.’s Ruby Pipeline.

Wyoming Gov. Dave Freudenthal and four other top state officials on Thursday gave the go-ahead to the state treasurer to negotiate a $300 million investment in El Paso Corp.’s Ruby Pipeline.

California officials are continuing to negotiate with Houston-based El Paso Corp., hoping for a settlement of the state’s multi-billion-dollar claims of overcharges by one of the state’s principal natural gas suppliers, Gov. Gray Davis said Tuesday in Washington, DC, where he is attending a National Governors Association conference.

California officials are continuing to negotiate with Houston-based El Paso Corp., hoping for a settlement of the state’s multi-billion-dollar claims of overcharges by one of the state’s principal natural gas suppliers, Gov. Gray Davis said Tuesday in Washington, DC, where he is attending a National Governors Association conference.