BP Amoco deal for Arco raises some U.S. concerns

Article Abstract:

BP Amoco PLC's intention to purchase US-based Atlantic Richfield Co (Arco) for around $27 bil would give the former a control of around 20% of total US reserves and approximately 16% of total US oil production. BP Amoco's choice of Arco was questioned by some analysts because the latter depends on domestic oil for 72% of its reserves and 80% of its production. The US, whose available huge fields have mostly been tapped, is among the more expensive places in the world to generate oil.

United Kingdom, Atlantic Richfield Co., BP PLC, ARC

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Mobil Canada delays $2.5-billion Alberta oil sands project

Article Abstract:

Mobil Oil Canada Ltd, one of Canada's leading oil and gas producers, has pulled back from its planned C$2.5 billion oil sands venture in northern Alberta due to low oil prices. The company, which intended to begin construction of the plant in 2000, now plans to begin the project in 2002 and have the plant operational in 2005. The plant may have a production capacity of 160,000 barrels a day.

Mobil Oil Canada Ltd.

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