July 13, 1993
Benton Oil and Gas Co., an Oxnard-based oil and gas concern, said its Russian joint venture has begun producing oil at a rate of 500 barrels a day from three wells in West Siberia. The venture, Geoilbent Ltd., marks the first time that a non-Russian company has participated in production from a new Russian oil and gas field, Benton said.
November 27, 1992 |
Arctic Oil Bid Won by Russian Consortium: Russian President Boris Yeltsin has awarded the rights to develop a major offshore oil and gas field in the Arctic to a Russian defense industry consortium, rejecting a bid by a Western group. The decree gave the politically influential Russian Shelf Development Co., known by its Russian acronym "Rosshelf," the right to explore and tap deposits off the Novaya Zemlya archipelago in the Barents Sea, Yeltsin's press office said.
June 7, 1992 |
With little attention or sympathy from the American public, much of the U.S. oil industry is packing it in and moving overseas. Few sectors of the economy have faced a more wrenching adjustment during a period of fundamental economic change than the domestic oil business. Some statistics from the American Petroleum Institute tell the story: * More than half the 754,500 jobs in U.S. exploration and production that existed in 1982 are now gone. * Almost a third of 165,800 jobs in U.
January 29, 1992 |
In the largest potential deal so far between foreign energy companies and the Russian energy industry, a U.S.-Japanese consortium has won the international competition to explore two big oil and gas fields on Sakhalin Island, off the Siberian coast. After months of rumors and speculation, the MMM Group--comprised of Marathon Oil Co. and McDermott International Inc., both U.S. firms, and Mitsui & Co.