Interantional news for oil and gas professionals
Renewable energy advocates are learning this year what the oil and gas industry already knew—Luck is not always a lady, Mother Nature can be a witch, and commodity markets are unforgiving.
With early summer unusually hot in much of the US, speculation about climate change has risen along with the temperature. Quality of the conversation about global warming, however, seems never to rise.
Five Polish companies agreed to work jointly to accelerate shale gas exploration work on the Wejherowo license in northern Poland, the Treasury Ministry announced. Poland's Treasury holds a majority interest in all five companies.
Anticipated growth in Marcellus shale natural gas production likely will mean more long-term business for US midstream companies, Fitch Ratings said in a recent report in which analysts forecast Marcellus production during the next 5 years will grow to more than 10 bcfd from the current 4 bcfd.
Federal agencies have spent more than $15.5 million on chemical dispersant research to combat offshore crude oil spills since fiscal 2000, but more work is needed, particularly on subsurface and Arctic applications, the Government Accountability Office said in a report released June 29.
Global capital expenditures for exploration and production in 2012 are expected to rise by 11% to $595 billion, according to the midyear spending update to the Dahlman Rose Original E&P Spending Survey.
A crude oil pipeline operator's pervasive organizational failures combined with weak federal regulations to cause a spill in Michigan in 2010, the National Transportation Safety Board said.
The US House Natural Resources Committee unveiled legislation on July 9 that would replace the 5-year US Outer Continental Shelf program the US Department of the Interior announced on June 28 with a more aggressive plan. The committee said it will mark up the bill—HR 6082—on July 18.
Federal renewable fuel mandates that don't reflect market changes and distribution obstacles must be reworked, oil industry witnesses told a US House Energy and Power subcommittee.
There was plenty of drama, intrigue, and even some comedy on July 2 when North Carolina's general assembly overrode Gov. Beverly Perdue's (D) July 1 veto of a bill that could lead to natural gas production from tight shales in the state.
Southern Pacific Resources Corp., Calgary, has completed a long-term agreement to ship bitumen by rail to the US Gulf Coast in a system it says will improve production netbacks at its STP-McKay thermal oil sands project west of Fort McMurray, Alta.
The US Department of Defense can meet its fuel supply needs more effectively by using petroleum products more efficiently and protecting major transit corridors than by embracing synthetic fuels, three new RAND Corp. studies concluded.
Orca Exploration Group Inc., Dar es Salaam, has completed the SS-11 development well in Songo Songo field offshore Tanzania and expects it to be on production by September 2012.
Tullow Oil PLC and Africa Oil Corp. have discovered more apparent thick oil pay at the Ngamia-1 wildcat in the South Lokichar basin in northern Kenya.
The asterisk fixed to oil market analysis has asserted itself again. Twice.
