International news for oil and gas professionals
All things being equal, a Category 1 hurricane that blows through oil and gas production in the Gulf of Mexico and threatens Gulf Coast refineries doesn't get as much national media coverage as one that lands in the middle of television networks and big-name newspapers in New York City.
Geographic shifts in oil and gas markets are changing the fundamentals of energy security. Global energy security has evolved within a three-legged structure now rocked by new patterns of supply and consumption and by changing international relations.
Leading US oil and natural gas trade associations said they were looking forward to working with a second Barack Obama administration after the president won reelection on Nov. 6.
The US Environmental Protection Agency released a proposal designed to ensure that renewable identification numbers (RINs), which refiners and other motor fuel suppliers buy to help meet federal Renewable Fuel Standard quotas, are authentic.
The Woodford shale in southwest-central Oklahoma is a largely undeveloped oil and gas formation with at least several billion bbl of liquids recoverable, Continental Resources Inc. said Oct. 9.
Scaling up production of biofuels from algae to meet at least 5% of US transportation fuel needs would place unsustainable demands on energy, water, and nutrients, a new National Research Council report said.
France's Total SA has signed an agreement with Perth-based Central Petroleum Ltd. to farm into four of Central's application permits in the Georgina basin onshore Northern Territory and Queensland.
Oil India Ltd. (OIL) and Indian Oil Corp. (IOC) jointly agreed to acquire 30% of Carrizo Oil & Gas Inc.'s liquid-rich shale assets in the Niobrara basin in Colorado through their wholly owned US subsidiaries for $82.5 million total, marking the India parent companies' first US upstream acquisition.
Geopolitical worries are keeping prices of crude oil higher than market forces indicate they should be, according to a study published by Chatham House, London.
Alaska North Slope producers say the biggest hurdle facing construction of a natural gas pipeline across the state to a planned liquefaction and export facility on its southern coast is the state's uncertain fiscal regime, US Sen. Lisa Murkowski (R-Alas.) said following meetings in Houston with the three largest ANS producers.
Sustained high crude oil prices combined with offshore exploration successes are contributing to rising demand for international jack up drilling rigs in key markets, particularly Southeast Asia, the Middle East, and the North Sea, said James C. West, analyst with Barclays Capital Inc.
A killer fallacy of regulation is the assumption that if some is good more must be better. Acting on the difference, the US oil and gas industry finds itself in the villain's role as it fights an overreaching Securities and Exchange Commission antibribery rule.
