-- Weyburn project demonstrates CO2 sequestration, EOR Five million tons of carbon dioxide were successfully sequestered in Weyburn oil field in Saskatchewan while the field's oil recovery rate doubled, the US Department of Energy reported. DOE helped fund the project.
-- IEA: WEO shows rising energy demand to 2030 If governments stick to current policies, world energy needs will be more than 50% higher in 2030 than they are today, warned Paris-based International Energy Agency in its recently released World Energy Outlook 2005 (WEO 2005).
-- FACTS: Chinese oil demand growth to slow this year Although China's demand for petroleum products will continue to grow this year, the rate of growth may decline after unprecedented growth in 2004 of nearly 15%, said FACTS Inc. analyst Kang Wu in a recent report.
-- MARKET WATCH Crude futures price inches up The front-month crude futures price inched up in the New York market Nov. 14 after falling at the end of last week to the lowest intraday level since July.
-- Public trading due for Abu Dhabi company Shares of Aabar Petroleum Investments Co. will begin trading on the Abu Dhabi Securities Market Nov. 19 in what the company calls a first for the Persian Gulf region.
-- Norse Energy to buy Brazilian interests Norse Energy Corp. ASA of Norway has agreed to purchase a 30% interest in Estrela-do-Mar oil field and a 15% interest in Cavalo Marinho oil field off Brazil for $14 million.
-- Deepwater investment expected to show strong growth Investment in deepwater exploration, development, and production will remain strong during the next 5 years, totaling more than $20 billion/year by 2010, reported John Westwood Nov. 9 at the Deep Offshore Technology conference in Vitoria, Brazil.
-- MARKET WATCH Bearish inventory reports push down energy prices Energy prices continued to fall Nov. 10 with crude hitting a 5-month low on the New York market as traders ignored probable terrorist attacks earlier this week at three international hotels in Amman, Jordan, and focused instead on recent builds in US petroleum inventories.
-- Ziff: Western Canada F&D costs rising Finding and development costs for natural gas and conventional oil in Western Canada, excluding revisions, have increased 12% to $2.40/Mcf during 2004 compared with the previous year, according to Ziff Energy Group, Calgary.
-- IADC elects 2006 chairman Claus Chur, a board member and regional director of KCA Deutag, Bad Bentheim, Germany, has been elected chairman of the International Association of Drilling Contractors, effective Jan. 1, 2006.
-- MARKET WATCH Warm weather undercuts crude futures prices Futures prices fell for crude and petroleum products Nov. 7, but natural gas futures prices rebounded, wiping out the previous day's loss, despite warm weather that has persisted through the first week of the winter heating season.