Word: bbl
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...billion to build and install the world's heaviest -- and costliest -- drilling platform 200 miles southeast of the coast of Newfoundland. The 1.1 million-ton rig, designed to withstand collisions with the giant icebergs that regularly drift through the area, will begin tapping the North Atlantic's 2 billion-bbl. Hibernia field...
...Because Triton lacked the capital to explore the area, it sold an 80% share to British Petroleum, which took in France's Total as an equal partner. Today the consortium is part of a joint venture with the state oil company, Ecopetrol, which is developing an estimated 2 billion bbl. in Cusiana and the neighboring Cupiagua field. That could be just the beginning: the partners' plan to invest $6 billion over the next 40 months to bring in Cusiana and explore other sites in the foothills of the Andes...
...initial sortie into the mountainous jungle that surrounds Lake Kutubu, one of the most pristine spots in the South Pacific. The year was 1986; Chevron headed a consortium that had come to explore a reservoir 1.5 miles beneath the jungle floor that was thought to contain 225 million bbl. of high-quality...
...want the U.N. to lift sanctions against Baghdad so it can resume exporting oil. But PRESIDENT CLINTON opposes the move -- and not just because Iraq remains a threat. If Iraq starts exporting oil, Administration energy experts warn, the price for crude could fall by nearly half, to $11 per bbl. That would spell trouble for volatile and financially strapped oil exporters such as Russia and Saudi Arabia -- and for 60 oil-patch lawmakers, who begged Clinton for new tax breaks in a White House meeting last week...
...lucrative connection. State-owned oil giants Elf Aquitaine and Total were the first Western firms to make contact with Baghdad after the war. Iraqi authorities proposed to give the two French companies a rich production monopoly developing the Majnoun Islands and Nahr Umar oilfields, which could produce 1 million bbl. a day. In exchange, the Iraqis wanted the French to lobby for lifting U.N. sanctions. Since then, according to the weekly Canard Enchaine, representatives of the two companies have made more than 40 trips to Baghdad and preliminary contracts have been drawn up. The French government has frozen the deal...