Sakhalin Oil find holds promise

Article Abstract:

ExxonMobil Corp. and Sodeco have found a large accumulation of oil at a test well off the coast of Sakhalin Island in the Far East of Russia. This discovery indicates that one of Russia's most troublesome foreign-investment projects might eventually start producing hydrocarbons.

Natural resources, Offshore Crude Petroleum, Petroleum, Sodeco

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Sea change: Exxon Mobil bets on new technology in hunt for gold

Article Abstract:

Len Srnka, a geophysicist with Exxon Mobil, has used electromagnetic theory to develop technology that can locate oil at the bottom of the ocean. His discovery, a technology he calls 3RM, is the result of a research and development initiative launched by Exxon in the mid-1990s.

United States, Research and Development in the Physical, Engineering, and Life Sciences, Facilities & equipment, Science & research, Scientific Research and Development Services, Management dynamics, Executive changes & profiles, Commercial physical research, Research & Development-Industry, Offshore Oil & Gas, Science, Research & Development, Geophysicists, Exploratory Offshore Oil Wells, Research, Management, Officials and employees, Equipment and supplies, Research and development, Industrial research, Company business management, XON, Petroleum in submerged lands, Offshore oil fields, Oil and gas exploration, Petroleum exploration, Electromagnetism, Srnka, Len, Longwell, Harry

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Europe wary of Sakhalin loan

Article Abstract:

Royal Dutch-Shell Group of Cos. of the Netherlands was forced to divest its 50 percent stake in Sakhalin II to OAO Gazprom of Russia. The petroleum venture then becomes delisted for a European Bank for Reconstruction and Development loan because the Sakhalin II project is run by a state-owned company.

Europe, Acquisitions & mergers, Government expenditures, Natural gas liquids, Oil & Gas Extraction, Oil and Gas Extraction, Netherlands, Mergers, acquisitions and divestments, Company acquisition/merger, Economic policy, Gas industry, European Bank for Reconstruction and Development, OAO Gazprom, Royal Dutch-Shell PLC, Financial report

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