International news for oil and gas professionals
It rarely fails. The usual gush of oil and gas industry news always seems to slow to a mere trickle during the summer months.
Everything the executive director of the International Energy Agency said in Houston this month needed to be said and cannot reasonably be disputed.
Global gas trends through first-half 2012 show the LNG market for the next 5 years will increasingly tighten and residual volumes left for Europe will shrink.
Houston-based Golden Pass Products LLC last week applied to the US Department of Energy to export LNG from the Golden Pass LNG receiving terminal at Sabine Pass, Tex.
The long-term volume of natural gas exports, if allowed by the US government, likely will not be very large given expected market developments abroad, according to a researcher from Rice University’s Baker Institute for Public Policy.
Chevron Corp. agreed to exchange some holdings in the Browse LNG development for Shell Development (Australia) Pty. Ltd.’s interests in Clio and Acme fields offshore northwest Australia.
A federal appeals court dismissed a legal challenge to the US Environmental Protection Agency’s introduction of gasoline with a higher ethanol blend into the marketplace.
The US Environmental Protection Agency issued final revised new source performance standards (NSPS) to control volatile organic compounds (VOC) and sulfur dioxide emissions from onshore natural gas processing plants.
Early indications are that the US Bureau of Safety and Environmental Enforcement avoided a well-intentioned mistake that could have created serious problems in its final interim offshore safety rule.
Governments worldwide must work with industry to address legitimate public concerns about environmental issues if unconventional natural gas is to reach its global development potential, said Maria van der Hoeven, executive director of the International Energy Agency.
International Energy Agency Executive Director Maria van der Hoeven said she sees no reason for a release from the US Strategic Petroleum Reserve (SPR).
Sterling Resources Ltd., Calgary, will resume exploratory drilling in the Black Sea offshore Romania in September and is encouraged by the Romanian government’s enacting of natural gas liberalization policies.
India’s Oil & Natural Gas Corp. Ltd. has discovered the third largest reservoir in Mumbai High at a development well that found a new pool in D1 field offshore western India.
Ophir Energy PLC said its Fortuna East-1 stepout on Block R offshore Equatorial Guinea has encountered gas in the eastern lobe of the Fortuna complex and has discovered gas in the deeper Viscata exploration target.
Energy represents a large piece of a gaudy policy mosaic likely to influence the US presidential election in November more than might be apparent at this stage of the race.
