Husky adds to oil sands holdings
Husky Energy has built on its major role in Alberta’s oil sands, picking up almost 23,680 acres for C$10 million in a region that is attracting a flurry of attention.
The Saleski property gives Husky another 2.7 billion barrels of bitumen reserves and will allow the company to become “a dominant oil sands player,” President and Chief Executive Officer John Lau said in a statement April 17.He said the purchase allows Husky to consolidate its total Saleski leases to 178,560 acres and builds its potential resources to 19.5 billion barrels of original bitumen in place. read more
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Contenders picked for shale development
The U.S. Bureau of Land Management narrowed the field of oil companies hoping to exploit vast oil-shale reserves in Utah and Colorado, government officials said April 10.
In a second elimination round, ExxonMobil and a tiny Utah company, Oil-Tech, were knocked out of the running for research and development leases to work BLM’s 160-acre parcels.
Exxon wasn’t prepared to commence research until as late as 2014 for a government program meant to expedite experimental works by this summer, said Jim Edwards, chief of BLM’s solid minerals branch in Colorado. read more
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Sand beats land in Canadian sales
For the first time in any three-month period, oil sands edged out conventional properties in Western Canada government auctions of exploration rights.
The northern Alberta swamps attracted spending of C$860.15 million on 428,868 hectares (1.06 million acres) in the opening quarter — 10 times greater than in the same period of 2005 — just over half the C$1.69 billion spent by companies across Canada.
The deciding factor was the C$467.7 million spent by Sure Northern Energy, a subsidiary of Shell Exploration & Production of the Americas, on 10 parcels in a new bitumen play. read more
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The Washington Post: Oil's top brass talk prices at summit
By Peg Mackey and Janet McBride
Reuters
Saturday, April 22, 2006
DOHA (Reuters) – Chief executives of the world's top oil firms met ministers from the biggest producers and consumers on Saturday as record crude prices of above $75 a barrel added urgency to consumers' calls for more supply investment.
A four-year rally, fueled by disruptions from the oilfield to the refinery gate, has led to bumper profits for Exxon Mobil , Royal Dutch Shell and BP and billions of dollars in oil revenues for producers like Saudi Arabia. read more
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Venezuela takes back 10,700 sq. mi.
Venezuela reclaimed more than 27,000 square kilometers (10,700 square miles) in potential drilling acreage from private oil companies in March by requiring them to join new state-controlled joint ventures, a local daily reported April 17.
Amid efforts by the Venezuelan government to take greater control of the oil industry and boost its share of revenues, private companies operating 32 oil fields were required to form joint ventures with the state oil company Petroleos de Venezuela SA, or PDVSA. Under the new terms, PDVSA took at least a 60 percent stake in each field, hiked taxes and royalties, and took back drilling acreage that it claimed the companies had failed to invest in. read more
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Oil's top brass talk prices at summit
Sat Apr 22, 2006 10:05 AM BST 
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By Barbara Lewis and Deepa Babington
DOHA (Reuters) – Chief executives of the world's top energy companies met ministers from the biggest producers on Saturday with record oil prices of above $75 a barrel speeding the race for supply investment.
A four-year rally, fuelled by supply constraints from the oilfield to the refinery gate, has left both sides with bumper profits. This year, worries over Iran's exports and crises in Iraq's and Nigeria's industry have pushed oil to levels that threaten economic growth.
read more
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Leaders Question Gasoline Prices
Hastert, Frist to Ask Bush for Probe
By Steven Mufson and Timothy Dwyer
Washington Post Staff Writers
Saturday, April 22, 2006; D01
Congressional leaders yesterday planned to ask President Bush to order investigations into possible price gouging by oil companies as crude oil prices hit new highs on world markets and average gasoline prices in the nation's capital blew through the $3-a-gallon mark.
House Speaker J. Dennis Hastert (R-Ill.) and Senate Majority Leader Bill Frist (R-Tenn.) are preparing to send a letter to the president Monday asking him to direct the Federal Trade Commission and Justice Department to investigate alleged price gouging and instruct the Environmental Protection Agency to issue waivers that might make it easier for oil refiners to produce adequate gasoline supplies, Hastert spokesman Ron Bonjean said. read more
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Leaders Question Gasoline PricesHastert, Frist to Ask Bush for Probe
By Steven Mufson and Timothy Dwyer
Washington Post Staff Writers
Saturday, April 22, 2006; D01
Congressional leaders yesterday planned to ask President Bush to order investigations into possible price gouging by oil companies as crude oil prices hit new highs on world markets and average gasoline prices in the nation's capital blew through the $3-a-gallon mark.
House Speaker J. Dennis Hastert (R-Ill.) and Senate Majority Leader Bill Frist (R-Tenn.) are preparing to send a letter to the president Monday asking him to direct the Federal Trade Commission and Justice Department to investigate alleged price gouging and instruct the Environmental Protection Agency to issue waivers that might make it easier for oil refiners to produce adequate gasoline supplies, Hastert spokesman Ron Bonjean said. read more
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G7 raises pressure on suppliers as oil tops $75
By Chris Giles and Krishna Guha in Washington
Published: April 21 2006 19:05 | Last updated: April 22 2006 01:40
Finance ministers and central bank governors from the Group of Seven leading economies raised the pressure on oil producers to increase supplies after oil hit a new record of over $75 a barrel in New York on Friday.
They called for further steps from producers to increase the transparency of their reserves and raise investment in exploration and refining capacity. read more
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East Coast Gas Stations Face Shortages

By THE ASSOCIATED PRESS
Published: April 21, 2006
Filed at 6:44 p.m. ET
PHILADELPHIA (AP) — Scattered gas stations from New Hampshire to Virginia are facing temporary shortages as the industry grapples with a transition to more ethanol-blended fuel.
Analysts and industry officials said occasional shortages are possible for another few weeks, though they emphasized that the problem has more to do with delivery schedules than a dearth of fuel. Empty pumps are not nearly as frequent as they were after Hurricane Katrina, which knocked out the electricity needed to run pipelines delivering fuel from the Gulf Coast to the rest of the country. read more
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Blame Game Begins as Oil Producers, Consumers Gather

By REUTERS
Published: April 21, 2006
Filed at 12:45 p.m. ET
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DOHA (Reuters) – The world's energy consumers and producers traded blame over record high oil prices they agree are a danger to all on Friday as they arrived here for three days of talks aimed at bringing the two sides closer together.
Oil raced to an all-time high above $74 a barrel this week as Iran defied world pressure to halt its nuclear programme, a quarter of Nigeria's output lay idle after rebel attacks and Iraq's once significant oil industry was mired in crisis. read more
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