Houston Chronicle: Energy sector could see more mergers in '07.
"This year companies largely pumped up or streamlined asset bases with multimillion-dollar deals to buy and sell portions of each other's holdings."
"The Justice Department is investigating whether the director of a multibillion-dollar oil-trading program at the Interior Department has been paid as a consultant for oil companies hoping for contracts."
AP: Iran faces crisis as its oil exports drop, study says. Loss of revenue is threatening the country's stability.
"Iran is suffering a staggering decline in revenue from its oil exports, and if the trend continues income could virtually disappear by 2015, according to an analysis published Monday by the National Academy of Sciences."
"Details of a renewable fuels fund have yet to be worked out, but it's one of the initiatives the House will take up during its first 100 hours in session in January, according to aides to Speaker-elect Nancy Pelosi."
Houston Chronicle: Anadarko to shed more assets. 2 natural gas fields will bring in $1.6 billion.
Houston Chronicle: Five questions for former Louisiana Sen. John Breaux.
"A pro-drilling Democrat, Breaux is helping organize the Energy Initiative, a new coalition of consumer groups and energy producers that will try to forge a new national consensus on energy policy."
WSJ (subscription): Big Energy Users to Gather in Beijing.
"The meeting, to take place in Beijing on Saturday, will bring together top energy-policy officials from China, the U.S., Japan, India and South Korea, which together account for half of the world's oil consumption." ...
"Separately, the U.S. also plans to push China to adopt voluntary measures to curb pollution emissions, Stephen Johnson, head of the U.S. Environmental Protection Agency, said in an interview. China has approved the Kyoto Protocol, under which nations seek to reduce overall greenhouse gas emission which have been linked to global warming. But under the agreement, China is not bound by any limits, and is now the world's second biggest greenhouse gas polluter after the U.S."
PR Newswire: I/O Wins Major Tender for Land Seismic Systems.
"Input/Output, Inc. announced today that it has been awarded a contract to provide 14, state-of-the-art land seismic imaging systems to Oil and Natural Gas Corporation Limited (ONGC), the national oil company of India."
Houston Business Journal: Input/Output lands $60M seismic deal.
"Stafford-based Input/Output will provide some 20,000 VectorSeis sensors to ONGC."
"CGG said the project is part of its long term planning of fleet renewal and upgrade in a context of increasing market demand for high capacity seismic vessels."
"Geokinetics Inc. announced today a record backlog of $324 million that supports orders to substantially increase its seismic data recording equipment capacity."
"The delay comes because the Russian state environmental regulatory agency Rosprirodnadzor, which has criticized the company in recent months over its environmental record, hasn't given its approval."
Houston Chronicle: Anadarko to sell off billions more of assets.
"Al Walker, Anadarko's chief financial officer, said the company has a goal of slashing debt by more than half to $12 billion by the end of 2007. It also expects to take a one-time charge between $160 million and $200 million in the fourth quarter for head-count reductions across the company, he said."
"The group, which includes top executives from the chemical, trucking and airline industries, wants much tougher fuel economy standards.... They want increased drilling offshore and within the United States, a much harder push for ethanol and other biofuels, and other changes that would permanently reduce the importance of oil as a strategic commodity and an economic force."
Houston Chronicle: Exxon Mobil forecasts ever-growing oil demand.
"World energy demand is likely to climb an average 1.6 percent per year to reach about 325 million barrels of oil equivalent a day by 2030, Exxon Mobil predicts.... Indeed, consumers in the world's poorer countries are expected to own about 500 million cars by 2030, up five times from the levels seen in 2000."
"... their most immediate goal will probably be a bill aimed at renegotiating about 1,000 offshore drilling leases that the government admits are flawed. The leases, signed during the Clinton administration, could allow energy companies to escape as much as $10 billion in payments to the federal government over the next five years."
WSJ (Subscription): Shell offers to cede control of Sakhalin-2 to Gazprom.
"Royal Dutch Shell PLC has proposed ceding a controlling stake in its $20 billion Sakhalin-2 project to Russia's state-run OAO Gazprom, an official close to the situation said, in an apparent victory for Russian government efforts to pressure Shell into renegotiating the terms of the landmark energy deal."
Houston Chronicle: Geokinetics selling notes to lower debt.
"Proceeds from the sale of the floating-rate notes will be used to repay debt from the company's acquisition of Grant Geophysical, also a seismic data service company."
Houston Chronicle: GOP taking what it can get.
"Abandoning their push to open the east and west coasts to drilling, House Republicans plan to bring up for a vote Tuesday a Senate proposal that would expand oil and gas exploration in the eastern Gulf of Mexico."
The Telegraph, India: Tremors over seismic survey.
"A rally against a proposed seismic survey for oil exploration on the Brahmaputra riverbed triggered law and order tremors [last week] when the 1,000-strong crowd of protesters clashed with police near the district library."
Marine Log: RXT to charter second advanced seismic vessel.
"Both vessels will be rigged with state of the art seismic equipment to operate as combined shooting and cable handling vessels for multi component seafloor seismic data acquisition."
Press Release: TGS announces new multi-client project offshore Oman.