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- 1995_world_oil_market_chronology abstract "January 14: Mexico pledges profits from state-owned Pemex's $7-billion-per-year oil revenues in an effort to secure United States Congress approval of $40 billion worth of loan guarantees. Subsequently, U.S. President Bill Clinton approved a $20-billion U.S. aid package for Mexico.January 30: Norway's Statoil announces that a newly formed consortium of 11 oil companies will develop a plan to supply Norwegian natural gas to the European continent. Three Norwegian companies signed a contract with Gaz de France to bring 1.4 trillion cubic feet (40 km3) of Norwegian gas to France between 2001 and 2027.February 28: The Pentagon announces that it monitored Iranian installation of surface-to-air Hawk missiles in the Strait of Hormuz. The Iranians also took possession of and fortified the nearby Abu Musa and the Tunb Islands, which are claimed by both Iran and the United Arab Emirates (UAE).June 14: After OPEC's bi-annual meeting in Vienna, President Ida Bagus Sudjana] discloses the organization's intention to roll over its present crude oil production ceiling of 24.52 million barrels per day (3,898,000 m3/d). The announcement is followed by a trip to Norway by Saudi Arabian Oil Minister Hisham M. Nazer. Upon arriving, the Saudi Minister asks Norwegian Minister of Industry and Energy Jens Stoltenberg to restrain his country's oil production in the hopes of stabilizing world oil prices.June 30: Exxon signs a $15.2-billion deal to develop oil and gas fields near Russia's Sakhalin Island. The Sakhalin I project will develop the offshore Shayvo, Odoptu, and Arkutun-Dagi fields that together are estimated to contain 2.5 billion barrels (400,000,000 m3) of crude oil and 15 trillion cubic feet (420 km3) of natural gas. Exxon has a 30 percent stake in the project.July 6: Venezuela's Congress approves the country's first investment law allowing for foreign participation in oil exploration and production. The newly passed \"model agreement\" authorizes the state-owned oil company Petroleos de Venezuela S.A. (PDVSA) to offer 10 exploration blocks to foreign investors. If oil is discovered, the government will maintain a majority stake in any joint venture formed to develop the new fields.July 27: Saudi Aramco awards the giant Shaybah oil field development project to U.S.-based Parsons Corporation. The $2.5-billion project will develop the 7-billion-barrels (1.1 km3) field, including the construction of crude oil production facilities, gas-oil separation plants, and a 372-mile (599 km) pipeline. The Shaybah field is located on the Saudi-United Arab Emirates border and is expected to produce 500 million barrels per day (79,000,000 m3/d) after it comes on line in 1999.July 28: Norwegian Finance Minister Sigbjorn Johnsen says that Norway should not lower its crude oil production in an attempt to boost world oil prices. Norwegian Oil Minister Jens Stoltenberg believes production cuts may be necessary if prices begin to fall. Minister Johnsen's remarks follow last month's visit by Saudi Arabian Oil Minister] Hisham M. Nazer, who asked Minister Stoltenberg to cut Norway's crude oil production.August 2: Saudi Arabia's King Fahd issues a decree replacing all members of the Council of Ministers who do not have blood ties so the royal family. While most of the Council's top positions are unaffected by the reshuffling, Oil Minister Hisham Nazer is replaced with Ali bin Ibrahim al-Naimi.August 14: Iran's official news agency, IRNA, reports that Iran has been unable to sell 200 million barrels per day (32,000,000 m3/d) of crude oil since the imposition of a unilateral oil embargo by the U.S. Iran increasingly has sold its crude oil on spot markets as opposed to long-term contracts. Larger purchases by France, Spain, Italy, China, India, Pakistan, and Thailand have failed to offset decreased demand by German and Japanese refiners. Before the U.S. embargo was announced in April 1995, U.S. companies were buying between 400,000 and 450 million barrels per day (72,000,000 m3/d), down from roughly 600 million barrels per day (95,000,000 m3/d) in 1994.August 28: Kuwaiti Oil Minister Abdul Mohsen al-Medej announces that his country will increase its oil production capacity to as much as 3.5 million barrels per day (560,000 m3/d) by 2005.September 13: The Kuwaiti Oil Ministry states its intention to seek a 200-million-barrels-per-day (32,000,000 m3/d) increase to its current 2-million-barrels-per-day (320,000 m3/d) crude oil production quota at the November 1995 OPEC meeting in Vienna. The announcement comes amidst growing non-OPEC oil production and weak oil prices.November 22: OPEC states that it will roll over its current oil production quota of 25.42 million barrels per day (4,041,000 m3/d). The roll-over was widely anticipated because of slack world oil demand, rising non-OPEC production, and weak prices.November 29: President Clinton approves legislation lifting a 22-year-old ban on exports of oil from the Alaskan North Slope (ANS). The ban was imposed after the oil embargo by Arab oil producers in 1973. The lifting of the ban opens up about one-quarter of U.S. crude oil production for export. The ANS legislation also waives royalty payments on deep water oil and gas leases in the Gulf of Mexico.December 12: Speaking in New York during a U.S. visit by Angolan President Eduardo dos Santos, Joaquim David, president of the state-owned oil company, Sonangol, states that Angola will increase its crude oil production by 10 percent per year over the next five years, reaching 720 million barrels per day (114,000,000 m3/d) by the end of 1996 and 1 million barrels per day (160,000 m3/d) by 2001. The statement comes amidst sporadic violence involving government forces and the rebel group UNITA, less than a year after a peace accord was signed ending the country's 20-year-old civil war. At the end of 1995, Angola had raised its crude oil production to 690 million barrels per day (110,000,000 m3/d).".
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- 1995_world_oil_market_chronology wikiPageWikiLink 1994_world_oil_market_chronology.
- 1995_world_oil_market_chronology wikiPageWikiLink 1996_world_oil_market_chronology.
- 1995_world_oil_market_chronology wikiPageWikiLink Abu_Musa.
- 1995_world_oil_market_chronology wikiPageWikiLink Angola.
- 1995_world_oil_market_chronology wikiPageWikiLink Bill_Clinton.
- 1995_world_oil_market_chronology wikiPageWikiLink Category:1995_in_economics.
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- 1995_world_oil_market_chronology wikiPageWikiLink Category:Oil_market_timelines.
- 1995_world_oil_market_chronology wikiPageWikiLink China.
- 1995_world_oil_market_chronology wikiPageWikiLink Chronology_of_world_oil_market_events.
- 1995_world_oil_market_chronology wikiPageWikiLink Europe.
- 1995_world_oil_market_chronology wikiPageWikiLink Exxon.
- 1995_world_oil_market_chronology wikiPageWikiLink Fahd_of_Saudi_Arabia.
- 1995_world_oil_market_chronology wikiPageWikiLink France.
- 1995_world_oil_market_chronology wikiPageWikiLink Gaz_de_France.
- 1995_world_oil_market_chronology wikiPageWikiLink Germany.
- 1995_world_oil_market_chronology wikiPageWikiLink Gulf_of_Mexico.
- 1995_world_oil_market_chronology wikiPageWikiLink Hisham_M._Nazer.
- 1995_world_oil_market_chronology wikiPageWikiLink India.
- 1995_world_oil_market_chronology wikiPageWikiLink Iran.
- 1995_world_oil_market_chronology wikiPageWikiLink Islamic_Republic_News_Agency.
- 1995_world_oil_market_chronology wikiPageWikiLink Italy.
- 1995_world_oil_market_chronology wikiPageWikiLink Japan.
- 1995_world_oil_market_chronology wikiPageWikiLink Jens_Stoltenberg.
- 1995_world_oil_market_chronology wikiPageWikiLink Kuwait.
- 1995_world_oil_market_chronology wikiPageWikiLink Mexico.
- 1995_world_oil_market_chronology wikiPageWikiLink New_York.
- 1995_world_oil_market_chronology wikiPageWikiLink Norway.
- 1995_world_oil_market_chronology wikiPageWikiLink OPEC.
- 1995_world_oil_market_chronology wikiPageWikiLink Pakistan.
- 1995_world_oil_market_chronology wikiPageWikiLink Parsons_Corporation.
- 1995_world_oil_market_chronology wikiPageWikiLink Pemex.
- 1995_world_oil_market_chronology wikiPageWikiLink Petroleum.
- 1995_world_oil_market_chronology wikiPageWikiLink Production_quota.
- 1995_world_oil_market_chronology wikiPageWikiLink Russia.
- 1995_world_oil_market_chronology wikiPageWikiLink Sakhalin.
- 1995_world_oil_market_chronology wikiPageWikiLink Saudi_Arabia.
- 1995_world_oil_market_chronology wikiPageWikiLink Saudi_Aramco.
- 1995_world_oil_market_chronology wikiPageWikiLink Spain.
- 1995_world_oil_market_chronology wikiPageWikiLink Statoil.
- 1995_world_oil_market_chronology wikiPageWikiLink Strait_of_Hormuz.
- 1995_world_oil_market_chronology wikiPageWikiLink Thailand.
- 1995_world_oil_market_chronology wikiPageWikiLink The_Pentagon.
- 1995_world_oil_market_chronology wikiPageWikiLink UNITA.
- 1995_world_oil_market_chronology wikiPageWikiLink United_Arab_Emirates.
- 1995_world_oil_market_chronology wikiPageWikiLink United_States_Congress.
- 1995_world_oil_market_chronology wikiPageWikiLink Venezuela.
- 1995_world_oil_market_chronology wikiPageWikiLink Vienna.
- 1995_world_oil_market_chronology wikiPageWikiLinkText "1995 world oil market chronology".
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- 1995_world_oil_market_chronology wikiPageUsesTemplate Template:S-end.
- 1995_world_oil_market_chronology wikiPageUsesTemplate Template:S-start.
- 1995_world_oil_market_chronology wikiPageUsesTemplate Template:Unreferenced.
- 1995_world_oil_market_chronology subject Category:1995_in_economics.
- 1995_world_oil_market_chronology subject Category:1995_in_international_relations.
- 1995_world_oil_market_chronology subject Category:Oil_market_timelines.
- 1995_world_oil_market_chronology type Market.
- 1995_world_oil_market_chronology comment "January 14: Mexico pledges profits from state-owned Pemex's $7-billion-per-year oil revenues in an effort to secure United States Congress approval of $40 billion worth of loan guarantees. Subsequently, U.S. President Bill Clinton approved a $20-billion U.S. aid package for Mexico.January 30: Norway's Statoil announces that a newly formed consortium of 11 oil companies will develop a plan to supply Norwegian natural gas to the European continent.".
- 1995_world_oil_market_chronology label "1995 world oil market chronology".
- 1995_world_oil_market_chronology sameAs Q4590892.
- 1995_world_oil_market_chronology sameAs Q4590892.
- 1995_world_oil_market_chronology wasDerivedFrom 1995_world_oil_market_chronology?oldid=612759940.
- 1995_world_oil_market_chronology isPrimaryTopicOf 1995_world_oil_market_chronology.