European oil companies test Bush's resolve on Iran sanctions

Article Abstract:

The largest oil companies in Europe are testing the Bush Administration's policy towards Iran sanctions. ENI SpA plans to sign a contract this weekend to develop the Darkhovin oil field for approximately $1 billion (Euro1.17 billion).

International politics, Sanctions (International law), ENI SpA

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Extra supply won't come in time to tame impact of $50 crude on recovery

Article Abstract:

Oil companies are stressing that they will not be able to increase petroleum output in the short-term. It takes several years for the industry to initiate new production projects. The easy-to-tap oil fields of the Middle East remain off-limits to Western companies, and the industry has already exhausted most of the world's most available petroleum resources. Members of the G-7 are concerned that high oil prices will hamper the global economy, but the International Monetary Fund is forecasting that economic growth will remain brisk.

United States, Market information - general, Forecasts, trends, outlooks, Production management, Commodity & service prices, Crude Petroleum and Natural Gas Extraction, Crude petroleum and natural gas, Crude Petroleum & Natural Gas, Petroleum refining, Middle East, Petroleum & Energy Products, Capacity, Prices and rates, Forecasts and trends, Supply and demand, Market trend/market analysis, Oil and gas exploration, Petroleum exploration, Company pricing policy, Global economy, Oil well development, Economic recovery

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Elf and Eni will develop oil field in deal with Iran

Article Abstract:

The national oil company of Iran has given a contract for oil field development to two foreign countries. Elf Aquitaine SA of France and Eni SpA of Italy signed the $1 billion contract to develop an offshore oil field. The deal is the third largest development contract that Iran has signed.

Comment:

National oil company of Iran gives a contract for oil field development to two foreign countries.

Capital expenditures, France, Abstract, Eni S.p.A., Elf Aquitaine S.A.

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