International news for oil and gas professionals
E-mail recently delivered a message advocating use of "financial astrology" to predict "with 70-90% accuracy" prices of oil, gold, corporate stocks, or the exchange rate for the euro vs. the dollar.
Polarization of US politics distorts conversation about regulation. The oil and gas industry has witnessed too often the default assertion that one side supports regulation while the other opposes it. This is absurd. Regulation exists.
Repsol SA continues drilling Cuba's first offshore oil well as some US government agencies, oil and gas organizations, and environmental groups press to ease restrictions that would keep US companies from responding if the well blows out and creates a spill, experts at a Center for International Policy seminar said.
US Interior Sec. Ken Salazar hailed the collaboration that made an agreement possible as he signed the record of decision authorizing Anadarko Petroleum Corp.'s Greater Natural Buttes natural gas project in eastern Utah.
More than two thirds of federal offshore tracts leased by the oil and gas industry and more than half of the federal onshore acreage companies hold in the Lower 48 remains idle, the US Department of the Interior said in a new report.
Diamond Offshore Drilling Inc. ordered a $655 million ultradeepwater drillship from Hyundai Heavy Industries Co. Ltd. with delivery scheduled for fourth-quarter 2014.
An independent review of the US Environmental Protection Agency's draft report on water near Pavillion, Wyo., concluded scientific analysis fails to support EPA's suggestion that hydraulic fracturing possibly contributed to water contamination, the Independent Petroleum Association of America reported.
The Obama administration is reaching out to the oil and gas industry more than it did initially to develop regulations, but it is not an election-year gimmick, a leading White House official said.
The American Petroleum Institute announced it will try to make more access to federally controlled energy resources, commonsense regulations, quicker permit decisions, and market-based renewable and alternative energy research and development provisions in the 2012 Democratic and Republican party platforms.
The White House announced five final rules on May 10 that it said would save nearly $6 billion in the next 5 years by eliminating outdated regulations and unjustified requirements.
Policies that reduce the US transportation system's heavy reliance on petroleum products would more effectively shield consumers from volatile prices and supply interruptions in the long term than simply increasing US production, a new Congressional Budget Office study concluded.
After posting near-zero annual growth in the fourth quarter of 2011, global oil demand growth will gradually accelerate throughout 2012, culminating in an increase of 1.2 million b/d by this year's final quarter, the International Energy Agency said in its latest monthly oil market report.
Engine durability tests by the Coordinating Research Council, which studies the interaction of engines and petroleum products, found leaks from uneven valve seat wear and pittage in two of eight 2001-09 vehicle engines run for 500 hr on a 15% ethanol-85% gasoline fuel blend, the organization supported by the American Petroleum Institute and automobile manufacturers said.
Oklahoma City independent Chesapeake Energy Corp. is confident it will complete assets sales to help resolve financial concerns, its chief executive officer told analysts and investors during a conference call in which he also outlined a new $3 billion loan.
Political revolt against fiscal austerity underscores laws governing energy and money to which European leaders should pay more heed: Neither can be created from nothing.