Word: petroleum
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...striking boutique hotel owned by two Belgians. At the other end of town, the early 20th century La Villa de Monsieur Thomas is being revamped into a five-star resort by a Khmer developer. And in February, Sokimex, a powerful Cambodian company that imports most of the nation's petroleum, began converting a colonial casino on Bokor Mountain into a flashy new resort. "All of a sudden there's interest," says Joseph Mussomeli, the U.S. ambassador to Cambodia, who last year hosted the first American business conference in Phnom Penh. The country is "lucky to be stuck between 85 million...
...bulk of Canada's new energy will get pushed through an expanded pipeline network straight to waiting U.S. upgrading plants and refineries, a majority of which are located in such Midwestern states as Minnesota, North Dakota and Ohio. Shell, Chevron, British Petroleum and Total S.A. of France, along with about 20 smaller but no less ambitious players, are also transforming Alberta's boreal oil patch into the primary supplier of feedstock for an integrated North American energy market. "Canada is extremely important to U.S. energy security," says Rob Routs, executive director of oil sands at Netherlands-based Royal Dutch Shell...
...will raise production when the market justifies it.' ALI AL-NAIMI, Saudi Arabia's Minister of Petroleum and Mineral Resources, after the country rebuffed President George W. Bush's request that OPEC nations immediately pump more oil to decrease record prices...
Facing record gas prices, President Bush reluctantly signed a bill to halt the deposit of 70,000 barrels of oil per day into the Strategic Petroleum Reserve, a two-month buffer of crude last tapped to offset disruptions caused by Hurricane Katrina. The amount of extra oil is relatively tiny--the world produces close to 75 million bbl. per day--meaning the move will have little impact on prices. Still, the measure sailed through Congress with overwhelming support...
TAPPING THE STRATEGIC PETROLEUM RESERVE [This article contains a table. Please see hardcopy of magazine.] Gulf War 1990-91 21 million bbl. Katrina 2005 21 million bbl. Currently available 703 million...