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BUSINESS
April 8, 1987 | DONALD WOUTAT, Times Staff Writer
British Petroleum's bid for Standard Oil, combined with a recent drumbeat of publicity about dwindling U.S. oil reserves, has made a 14,500-foot hole in northern Alaska the most talked about oil drilling project since the ill-fated Mukluk well of 1984. That well, on Alaska's Mukluk Island, cost $430 million and turned out to be the most expensive drilling failure in history when it turned up dry.
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BUSINESS
November 13, 2008 | the associated press
More than $1 trillion in annual investments to find new fossil fuels will be needed for the next two decades to avoid an energy crisis that could choke the global economy, the International Energy Agency said Wednesday. The warning from the Paris-based agency comes as major oil companies pull back investments amid the most severe economic downturn in a generation.
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BUSINESS
November 13, 2008 | the associated press
More than $1 trillion in annual investments to find new fossil fuels will be needed for the next two decades to avoid an energy crisis that could choke the global economy, the International Energy Agency said Wednesday. The warning from the Paris-based agency comes as major oil companies pull back investments amid the most severe economic downturn in a generation.
NATIONAL
August 2, 2008 | Richard Simon, Times Staff Writer
In a possible breakthrough on energy, a bipartisan group of senators unveiled a compromise Friday that would preserve the oil-drilling ban off the West Coast while easing restrictions on exploration off the East Coast and in the Gulf of Mexico. The proposal also would provide billions to greatly expand the availability of vehicles powered by alternative fuels.
BUSINESS
September 9, 2005 | From Associated Press
China National Offshore Oil Corp., the country's largest offshore oil producer, said it would explore for oil and gas in waters off Kazakhstan with China National Petroleum Corp. in the first overseas tie-up by the two mainland oil giants. CNOOC, which dropped its bid for U.S.-based Unocal Corp. last month, said it signed a memorandum in Beijing on Aug.
BUSINESS
September 28, 1995 | Times Staff and Wire Reports
Britain, Argentina Sign Oil Pact: Thirteen years after going to war over the Falkland Islands, the two countries signed a cooperation agreement to encourage exploration and exploitation of oil and gas deposits in the southwest Atlantic. The accord states that there is no change in the two countries' rival claims to the Falklands and the related British dependencies of South Georgia and the Sandwich Islands.
BUSINESS
April 12, 1994 | From Times Staff and Wire Reports
Oil Companies to Explore Arctic Russia: Texaco, Exxon, Amoco and Norway's Norsk Hydro have formed a joint venture to search for oil in the Timan Pechora basin of Arctic Russia. The group, named Timan Pechora Co., expects to spend more than $100 million on a three-year appraisal of the area northeast of Moscow. The 2,847-square-mile area has an estimated 2 billion barrels of oil. The venture will operate in the area for 50 years.
BUSINESS
February 6, 1992 | From Times Staff and Wire Reports
Arco to Spend $600 Million on Alaska Exploration: Arco will spend $600 million in the next five years on oil and gas exploration in Alaska, a company official told lawmakers in Juneau. Arco expects the industry to drill 15 to 25 exploration wells in the state this year, said Jim Davis, the company's senior vice president of exploration and land. Arco plans to participate in 75% to 80% of the projects, Davis said.
NEWS
February 7, 1992 | JOHN BALZAR, TIMES STAFF WRITER
The big dream--that's the stuff of Alaskans. And, down through the generations, they have answered its lyrical wind song: Bring your hopes north, here to the vast wilderness of gigantic bears and ancient ice and riches aplenty for anyone with a gun, spade, drill or saw. That is what shaped modern Alaska, and what is heavy on the minds of those who wonder about the shape of tomorrow here.
BUSINESS
April 9, 1992
Who says the U.S. doesn't have royalty? We have an imperial Congress and an aristocratic President who believe they deserve the privileges they have usurped. STAN SEAVEY Glendale
BUSINESS
December 18, 2007 | Elizabeth Douglass, Times Staff Writer
On the heels of an expanded deal in Libya, Occidental Petroleum Corp. on Monday beefed up its holdings closer to home, agreeing to pay $1.55 billion for stakes in oil and natural gas projects in Colorado, New Mexico and West Texas. The agreement with Plains Exploration & Production Co. adds heft to Occidental's domestic operations, which account for two-thirds of the Westwood-based company's daily production and more than 70% of its reserves.
BUSINESS
September 9, 2005 | From Associated Press
China National Offshore Oil Corp., the country's largest offshore oil producer, said it would explore for oil and gas in waters off Kazakhstan with China National Petroleum Corp. in the first overseas tie-up by the two mainland oil giants. CNOOC, which dropped its bid for U.S.-based Unocal Corp. last month, said it signed a memorandum in Beijing on Aug.
NATIONAL
February 19, 2003 | From Associated Press
The Bureau of Land Management may allow oil and gas development in Wyoming's Jack Morrow Hills, although the agency would try to monitor and control the work so it doesn't badly hurt important natural habitat, according to a draft plan released Tuesday. "We're going to have oil and gas development out there -- at a controlled pace," said Andy Tenney, a program coordinator for the bureau's Cheyenne office.
NEWS
August 2, 2001 | RICHARD SIMON, TIMES STAFF WRITER
Handing President Bush a huge victory on a signature issue, the House voted late Wednesday to permit oil exploration in the Arctic National Wildlife Refuge as part of a comprehensive energy bill containing $33 billion in tax breaks to boost production and encourage conservation. The 510-page measure was approved, 240 to 189, after 12 hours of debate. Before casting the final vote shortly after 9 p.m.
NEWS
March 15, 2001 | LISA GETTER, TIMES STAFF WRITER
Last week, Ian Thomas posted a map on a U.S. government Web site of the caribou calving areas in the Arctic National Wildlife Refuge, an area the Bush administration wants to open up for oil exploration. This week, Thomas is looking for a new job. "I'm really flabbergasted," Thomas said Wednesday. "After putting out 20,000 maps with no problem and then putting out one where baby caribou like to hang out, I got fired." Thomas, a contract employee for the U.S.
NEWS
August 25, 2000 | MARLA CONE, TIMES ENVIRONMENTAL WRITER
Three hundred feet below the surface, four minutes into a dive, the robot Ventana descends into utter darkness. The ocean, as we know it, ends here. And a vast, alien world--the deep sea--begins. The sun's rays are powerless here. The temperature plunges to just above freezing and the pressure is so intense that a human body would implode in an instant. Aboard a research ship 16 miles off Monterey, Jim Barry sits in a darkened control room, squinting at a screen in front of him.
BUSINESS
July 17, 1998 | Bloomberg News
Royal Dutch/Shell Group and Mobil Corp. have abandoned plans to spend $3 billion on a Peruvian natural gas project after the government balked at their demand for a distribution monopoly and the right to set prices. President Alberto Fujimori shrugged off the loss of what would have been Peru's biggest foreign investment. He said Peru will meet its deadline of delivering gas from the Camisea gas field in the eastern Andean foothills to Lima by 2003.
BUSINESS
January 6, 1998 | Bloomberg News
A group led by Chevron Corp. has discovered what it calls "a second giant oil field" in waters off Angola, the San Francisco-based company said. Tests from a well drilled at the new field yielded results similar to those the group had gotten from the nearby Kuito field, which company officials and analysts say may hold as much as 1 billion barrels of recoverable oil, or about a quarter as much oil as is in the North Sea's largest oil field.
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