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2005 Aug 31 |
The Bush administration said it will release oil from federal petroleum reserves to help refiners affected by Hurricane Katrina. New Orleans Mayor Ray Nagin said there was a significant number of dead bodies in the water'' following Hurricane Katrina; Nagin ordered virtually the entire police force to abandon search-and-rescue efforts and instead stop thieves who were becoming increasingly hostile. President Bush pledged to do all in our power'' to save lives and provide sustenance but cautioned that recovery of the Gulf Coast would take years. Links: USA, Oil, Louisiana, BushGW, Hurricane 
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2005 Aug 31 |
Indonesia's President Susilo Bambang Yudhoyono said the government needs to cut fuel subsidies, in effect raising gasoline prices for the public, to lift the nation's beleaguered currency and stave off an economic crisis. Links: Oil, Indonesia
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2005 Aug |
OPEC’s oil output hit a 26-year peak and began declining. Links: Oil, OPEC
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2005 Sep 4 |
In eastern Saudi Arabia police fought running gun battles with al-Qaida militants in Dammam in clashes that killed two extremists and a police officer. The militants aimed to attack oil facilities. Links: Oil, Saudi Arabia, al-Qaida
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2005 Sep 7 |
Iran offered to send the US 20 million barrels of crude oil to help it overcome the devastation of Hurricane Katrina if Washington waives trade sanctions. Links: USA, Oil, Iran
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2005 Sep 7 |
Ecuador Pres. Alfredo Palacio said all contracts with private oil companies will be revised to raise state participation in crude production. Links: Ecuador, Oil
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2005 Sep 12 |
Turkey sold a 51% stake in Tupras, an oil refinery, for $4.1 billion to a consortium of Koc Holding and Royal Dutch/Shell. Links: Turkey, Oil
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2005 Sep 13 |
Venezuelan President Hugo Chavez extended a preferential oil trade deal to 13 Caribbean countries in what he says is part of a plan to challenge U.S. economic domination of the region. The plan includes a $50 million fund to pay for social programs across the Caribbean, similar to those Chavez has started at home with rising oil profits. Links: Venezuela, Oil
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2005 Sep 15 |
In northeastern India a fire broke out in a damaged oil well, and Russian experts were summoned to inspect the site. Links: Russia, Oil, India
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2005 Sep 17 |
The Indonesian government signed a contract with state oil company Pertamina and US oil giant Exxon Mobil Corp to develop Cepu block. Links: USA, Oil, Indonesia
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2005 Sep 28 |
Gazprom, the world's largest natural-gas producer, signed an agreement to buy a majority stake in the Sibneft oil company for $13.01 billion from Roman Abramovitch and associates. The deal will significantly further the state-controlled company's stature in the oil sector as Russian President Vladimir Putin moves to recapture government influence in the lucrative energy industry. Gazprom re-registered Sibneft in St. Petersburg depriving Chukotka a big chunk of tax revenue. Links: Russia, Oil, Gas
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2005 Sep |
The average inflation rate for the G7 economies rose to an estimated 3.2%, mainly due to the price of oil. Links: Oil, G7
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2005 Oct 2 |
Project leader Exxon Mobil corporation said Russia's massive Sakhalin-1 oil and gas field started pumping oil off the country's Pacific coast at the weekend. Links: Russia, Oil
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2005 Oct 2 |
Libya awarded 44 oil exploration permits to predominantly Asian and European companies after a first batch was awarded earlier this year mainly to American firms. Links: Oil, Libya
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2005 Oct 12 |
A suicide bomber killed 30 Iraqis at an army recruiting center. An explosion shut down an oil pipeline near the northern city of Beiji. Links: Iraq, Oil, Suicide
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2005 Oct 18 |
The DJIA fell 62.84 points to 10285.26 following the sale of a 24.5 million block of Exxon shares. Links: Oil, DJIA
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2005 Oct 20 |
In northern Iraq insurgents using explosives set fire to the main oil pipeline. Militants riding in a car opened fire on civilians outside a food shop in the southern Dora area of Baghdad, killing two. The militants then stopped, rushed into the store and gunned down a third Iraqi. A rocket hit a public school for students aged 12 to 15 in the western al-Mansour neighborhood of the capital, killing one child and wounding five. A nearby shopkeeper also was killed. A suicide car bomb exploded in front of a provincial government building in the city of Baqouba, 35 miles northeast of Baghdad. Three people were killed and 14 wounded. Links: Iraq, Oil, Suicide
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2005 Oct 21 |
Oscar Wyatt (81), former chairman of Coastal Corp., was arrested at his home in Houston for paying millions in kickbacks to the government of Saddam Hussein in exchange for rights to buy discounted Iraqi oil under the UN’s oil-for-food program. 2 Swiss associates were also indicted. In 2007 Wyatt was sentenced to over a year in jail after admitting that he agreed to a surcharge of about $200,000 to be paid to bank account in Jordan controlled by officials of Iraq’s State Oil Marketing Organization in Dec 2001. Links: Iraq, USA, Oil, UN, Jordan, Texas, Corruption
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2005 Oct 25 |
A Canadian court approved a $4.2 billion takeover of PetroKazakhstan by China's largest oil company, China National Petroleum Corp., clearing the final potential obstacle to China's biggest foreign acquisition yet. Links: Canada, Oil, China
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2005 Oct 27 |
Exxon Mobil Corp., the world's largest publicly traded oil company, said high oil and natural-gas prices helped its third-quarter profit surge almost 75 percent to $9.92 billion, the largest quarterly profit for a U.S. company ever. Links: USA, Oil
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2005 Oct 27 |
More than 2,000 companies paid about $1.8 billion in illicit kickbacks and surcharges to Saddam Hussein's government through extensive manipulation of the UN oil-for-food program in Iraq, according to key findings of a UN-backed investigation obtained by The Associated Press. Links: Iraq, Oil, UN, Food
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2005 Oct 27 |
The 18-month Independent Inquiry Committee under former US Federal Reserve chairman Paul Volcker issued a final 623-page report on corruption in the UN oil-for-food program. It claimed that between 1997 and 2003 the Iraqi government sold $64 billion of oil to 248 companies and bought $34.5 billion worth of humanitarian goods. The report accused more than 2,200 companies from some 40 countries of colluding with Saddam's regime to bilk the humanitarian program in Iraq of $1.8 billion. Links: Iraq, USA, Oil, UN, Food, Corruption
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2005 Nov 1 |
A trade union said a strike at the Dutch operations of Royal Dutch Shell PLC over pensions will be broadened to include the company's natural-gas production in the north of the Netherlands. Links: Oil, Netherlands, Labor
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2005 Nov 7 |
India's foreign minister was stripped of his post over allegations that he benefited illegally from the UN oil-for-food program in Iraq, becoming the first political casualty of an independent report that revealed massive corruption in the effort to help Iraqis suffering under sanctions. Links: Iraq, Oil, India, Food
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2005 Nov 7 |
The Int’l. Energy Agency (IEA) projected growth in Middle East and North Africa Oil and Natural Gas Sectors through 2030 with enough oil in the ground to meet expected demand beyond 2030. Links: Oil, Gas
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2005 Nov 9 |
US oil executives testified before Congress that their huge profits were justified, but got a skeptical reaction from lawmakers. Links: USA, Oil
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2005 Nov 14 |
It was reported that India's top oil exploration firm, Oil & Natural Gas Corp., and the world's largest steel maker, the Netherlands-based Mittal Group, planned to build an oil refinery in Nigeria. They offered to invest another $6 billion in building a power plant and railroads there. Links: Oil, India, Netherlands, Nigeria
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2005 Nov 18 |
Turkey’s energy minister said oil from a U.S.-backed Caspian pipeline has crossed the Turkish border from Georgia on its way to a Mediterranean port for where it will be exported to the West. Links: Turkey, Oil, Caspian Sea
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2005 Nov 2005 Dec |
In San Francisco between 39,488 and 53,988 gallons of diesel fuel leaked over 4 weeks from an underground storage tank at the John Muir Motor Coach yard at 1095 Indiana St. Muni workers had disabled an alarm system that would have warned of the leak. In 2009 the US EPA sought a $250,000 settlement for the leak which allowed fuel to enter a storm drain leading the SF Bay. Links: USA, Oil, Environment, SF
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2005 Dec 3 |
A rupture in an oil pipeline caused a fire in western Venezuela, but firefighters quickly brought the blaze under control. Evidence of sabotage was soon found. [see Dec 5] Links: Venezuela, Oil
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2005 Dec 5 |
In Venezuela a Dec 3 explosion that damaged an oil pipeline supplying the country's largest refinery was reported to have been caused by government foes attempting to disrupt congressional elections. Interior Minister Jesse Chacon said investigators found remnants of C-4 explosives at three spots on the pipeline. Links: Venezuela, Oil
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2005 Dec 11 |
In Britain a huge inferno followed explosions at the Buncefield oil depot. 43 people were injured. In 2009 a court said French oil giant Total must pay bills valued at more than 750 million pounds for people whose homes and businesses were damaged in the fire. In 2010 five companies were ordered to pay fines and costs of more than £9 million (13.8 million dollars, 10.6 million euros). Links: Britain, France, Oil, Fire
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2005 Dec 11 |
Iran's parliament approved Kazem Vaziri Mahaneh, who has been acting minister for the past three months, the 4th nominee for the key post of oil minister. Links: Oil, Iran
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2005 Dec 12 |
ConocoPhilips, the 3rd biggest US oil company, said it will acquire Burlington Resources in a deal worth $35.6 billion. Links: USA, Oil, M&A
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2005 Dec 15 |
Kazakh President Nursultan Nazarbayev ceremonially opened the taps of a new pipeline carrying oil from one of the region's greatest energy powers to one of its hungriest consumers, China. Links: Kazakhstan, Oil, China
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2005 Dec 18 |
Iraq's largest oil refinery, in Beiji, was shut down because of the deteriorating security situation in the region. Suicide bombers and gunmen killed nearly two dozen people across Iraq. Vice President Dick Cheney made a surprise visit and suggested the vote could pave the way for beginning a US pullout. Links: Iraq, USA, Oil
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2005 Dec 19 |
US House lawmakers opened the way for oil drilling in the Arctic National Wildlife Refuge and approved $29 billion for hurricane relief during an all-night session bringing their legislative year to a close. The budget package included $454.3 billion for defense. Links: USA, Oil, Environment
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2005 Dec 19 |
Violent demonstrations broke out across Iraq and the oil minister threatened to resign after the government raised the prices of gasoline and cooking fuel by up to 9 times. Links: Iraq, Oil
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2005 Dec 20 |
In southern Nigeria attackers blew up a Royal Dutch Shell PLC pipeline carrying crude oil across, killing at least eight people and cutting crude production in Africa's oil giant. Links: Oil, Nigeria
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2005 Dec 21 |
The US Senate stopped a bid by Ted Stevens, Alaska’s Republican Sen., on a measure for oil drilling in the Arctic National Wildlife Refuge in the US military spending bill. Senators also forced through a 5-month extension of key provisions of the Patriot Act. The move effectively killed a compromise that would have made permanent 14 of 16 provisions. The next day Senators cut the extension to 5 weeks. Links: USA, Oil, Alaska
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2005 Dec 21 |
In Nigeria Anglo-Dutch oil giant Shell announced the closure of a third flowstation, following the alleged sabotage of a pipeline, bringing a loss in crude oil production to 180,000 barrels per day (bpd). Links: Britain, Oil, Netherlands, Nigeria
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2005 Dec 24 |
China and North Korea signed an agreement to jointly develop offshore oil reserves. Links: Oil, China, North Korea
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2005 Dec 27 |
Official Syrian news reported that Syria has signed a $2.7 billion memorandum of understanding with a Russian company for construction of a refinery and petrochemical plant in northeast Syria. Links: Russia, Oil, Syria
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2005 Dec 29 |
Three U.S. oil companies said they will end a 19-year absence in Libya and pay $1.83 billion to resume oil production. Links: USA, Oil, Libya
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2005 Dec 31 |
Lee Raymond, CEO of Exxon Mobil, retired. It was later revealed that he received $144,573 for each day he spent as chief from 1993 thru 2005. Links: USA, Oil, Labor, Big Money
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We offer additional services to help you as well including
tax attorney help with tax relief issues,
auto accident attorney services, and
sustainable development information to research going green!
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2005 Dec |
Ted Stevens, Republican Sen. From Alaska, attached a measure for oil drilling in the Arctic National Wildlife Refuge to the US military spending bill. Links: USA, Oil, Alaska
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2005 |
Kerr-McGee installed its Constitution platform 300km southwest of New Orleans. The $600 million structure was moored to the ocean floor 1,500 meters below the surface. Links: USA, Oil
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2005 |
A syndicate called China Int’l. Fund or China Sonangol, created by a man named Sam Pa (aka Xu Jinghua), signed contracts giving the company the right to export Angolan oil and act as a middleman between Sonangol and Sinopec. The company operated out of Hong Kong. By 2009 the company had bought the JPMorgan Chase building at 23 Wall Street, NYC. Newbright Int’l., a core company of the syndicate, was 70% controlled by Veronica Fung. Links: Angola, Oil, China, Hong Kong, NYC
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2006 Jan 1 |
In Venezuela 32 privately operated oil fields returned to state control. A 2001 hydrocarbons law had required oil production to be carried out by companies majority-owned by the government. Links: Venezuela, Oil
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2006 Jan 5 |
Iraq's largest oil refinery closed again, a day after insurgents ambushed a convoy of tanker trucks carrying gas from the facility. Links: Iraq, Oil
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2006 Jan 5 |
In China Feng Bingxian (59), a businessman who led investors against the government seizure of oil fields in northern China, was convicted along with 2 co-defendants of organizing illegal protests and sentenced to 3 years in prison. Links: Oil, China
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2006 Jan 5 |
In China an oil spill occurred at Gongyi city in neighboring Henan province when a frozen pipe broke, causing six tons of oil to spill into a tributary of the Yellow River. Links: Oil, China, Environment
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2006 Jan 9 |
China’s state-controlled oil company CNOOC Ltd. said it is paying $2.3 billion for a 45 percent stake in a Nigerian oil field. Links: Oil, China, Nigeria
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2006 Jan 11 |
In Nigeria gunmen stormed an offshore oil platform run Royal Dutch Shell and kidnapped four foreign oil workers. The Movement for the Emancipation of the Nigerian Delta (MEND) claimed responsibility. The four were freed nearly three weeks later. Links: Oil, Nigeria
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2006 Jan 11 |
The US Interior Dept. agreed to open some 400,000 acres on Alaska’s North Slope for exploratory oil drilling. Links: Oil, Alaska
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2006 Jan 15 |
Separatist gunmen shot dead several Nigerian troops and overran an oil plant run by the Anglo-Dutch Shell, amid fears for the safety of four kidnapped foreign workers. The Movement for the Emancipation of the Nigerian Delta (MEND) claimed responsibility. MEND told Shell to pay $1.5 billion to the state of Bayelsa for pollution it said Shell has caused. Links: Britain, Oil, Environment, Labor, Nigeria
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2006 Jan 19 |
President Omar Bongo (69) of Gabon, was sworn in for another 7-year term. Bongo has been president since Dec. 2, 1967, taking over upon the death of Leon M'Ba, the country's only other head of state since independence from France in 1960. Gabon produces about 290,000 barrels of oil a day and boasts sub-Saharan Africa's third largest reserves, around 2.5 billion barrels. Half the country still lives below the poverty line. Links: Oil, Gabon
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2006 Jan 19 |
Nigerian kidnappers said their US hostage was gravely ill and threatened to kill three other foreign oil workers held captive if he died. Links: Oil, Nigeria
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2006 Jan 20 |
The US DJIA fell 213 points to 10,667.39 over rising oil prices. Links: USA, Oil, DJIA
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2006 Jan 23 |
Saudi King Abdullah met with Chinese President Hu Jintao in Beijing, amid efforts by China to secure overseas oil and gas reserves for its power-hungry economy. Links: Oil, China, Saudi Arabia, Gas
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