|
News in brief
Mobil, ARCO show interest in Iran’s Oil and Gas On March 4, The Wall Street Journal reported that Mobil Corp. and Atlantic Richfield Co. had informed Tehran that they are interested in exploring for oil in Iran. Both companies have paid small sums for “data sets” — oil field information routinely sold by countries to companies interested in bidding on development projects.
A State Department spokesman told The Wall Street Journal the government saw no apparent violations against the Iran-Libya Sanctions Act, which bars U.S. oil investment in Iran. Though the data set purchases were largely symbolic, the companies want to maintain contact with the Iranians and show their interest for the day when the United States lifts the sanctions. Oil nations agree to cut in output The Wall Street Journal on March 12 reported that oil ministers from Saudi Arabia, Venezuela, Iran and Mexico met in Amsterdam and agreed to an immediate 305,000 barrel-a-day cut and to continued talks aimed at a 2 million barrel a day production cut, or 2.6 percent of world output.
If a final agreement is reached at the OPEC meeting in Vienna on March 23, petroleum economist Phillip Verlegger of Brattle Group in Boston told The Wall Street Journal, oil could hit $20 a barrel by year end.
Oil markets, skeptical about OPEC’s ability to cut production, reacted with a drop of 38 cents a barrel for April delivery of West Texas Intermediate Crude and closed at $14.31 a barrel on the New York Mercantile Exchange. Two authors to speak at Cook Inlet Book Co. Cook Inlet Book Co. in Anchorage will be hosting two nights of talks and readings in recognition of the Exxon Valdez Oil Spill anniversary.
On March 24, at 7 p.m. William McCloskey will be presenting a slide show and a reading from his recently published title “Their Father’s Work: Casting Nets With the World’s Fishermen,” which explores the world of commercial fishing, including a visit to the site of the Exxon Valdez oil spill.
On March 25 at 7 p.m., John Keeble will be reading from the 10th anniversary edition of his book, “Out of the Channel,” which combines on-the-scene reporting of EVOS with analysis of after effects on ecology and the community. The new edition assesses the effects of big money and lawsuits.
| 