Table of Contents
Oil & Gas Journal
01/07/2002
Volume 100, Issue 1
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Regular Features
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OGJ Newsletter
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OGJ Newsletter
The oil market exhibited nervousness entering 2002 over concerns about whether OPEC will be able to enforce its Dec. 28 announcement to reduce production quotas by 1.5 million b/d for the next 6 months.
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OGJ Newsletter
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Letters
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EU study of Caspian
First and foremost we would like to commend Orhan Degermenci (OGJ, Nov. 5, 2001, p. 68) for the high-quality presentation of the findings contained in the above-mentioned study. The judicious selection of the comparison criteria, the analytical skills used, and the careful data sorting allow the reader to draw qualified conclusions.
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EU study of Caspian
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Journally Speaking
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Weird news
Oil and gas trade publication editors see a lot of news from many sources. Most is straightforward, but some is, well, weird. Wacky, even. Occasionally, just plain funny.
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Weird news
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Equip/Software/Lit
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Equipment/Software/Literature
New Intalox 5TX is a sheet-metal-type structured packing designed for mass and heat transfer services requiring high liquid and vapor capacities.
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Equipment/Software/Literature
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Services/Suppliers
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Services/Suppliers
Houston, has announced that David Armitage, founder and former CEO of GeoGraphix, has joined the company as chief executive officer. Armitage holds BS degrees in economics and geology from St. Lawrence University in Canton, NY, and has extensive field experience as an exploration geologist.
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Services/Suppliers
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General Interest
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EDITORIAL: A look at oil dependency
A useful policy-making exercise for the new year would be a fresh look at the concept of oil dependency. In the oil-consuming world, especially the US, fret over oil dependency is a ready and rich source of bad ideas.
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COMMENT: 2002 to see birth of New World Energy Order
The year 2002 will be the second year of the Third World War, which began on Sept. 11 with the tragic terrorist attacks on New York City and Washington, DC.
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CERA: Demand drop to push oil prices lower in 2002
World oil prices should average $6/bbl less this year as the market seeks equilibrium as demand slides.
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FERC´s proposed affiliate rule creates confusion, alarm
The US Federal Energy Regulatory Commission´s proposal to apply the electric industry discount standard to natural gas pipeline transactions is creating both confusion and opposition in the industry.
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Maritime industry asked to consider energy security issues
US maritime officials must get advice from the energy industry when considering security issues at domestic ports and harbors under a provision passed by the Senate late last month.
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FERC orders El Paso market power case reopened
The Federal Energy Regulatory Commission late last month reopened an investigation into whether a unit of El Paso Corp. manipulated the natural gas market in California last year.
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Watching Government: Euro today, gulf tomorrow
Six Arab oil-producing nations, which together control half of the world´s known oil reserves, moved toward stabilizing their chronically unstable region in the waning hours of 2001.
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Watching the World: In bed with the bear
The CEOs of the major oil companies are often asked where they see the world oil price heading. And they always give an answer something like, "e;There is nothing to be gained trying to second-guess the market. What is more important is stability."e;
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COMPANY NEWS: Magnum Hunter, Prize Energy to merge in $1.2 billion deal
Some US-based oil and gas companies are continuing to pair off while others are strengthening their core assets through key property acquisitions.
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PERSONNEL MOVES AND PROMOTIONS: Major oil and gas firms name new top executives
Companies naming new top executives include Petroleo Brasileiro SA, Imperial Oil Ltd., Piedmont Natural Gas Co., National Fuel Gas Co., and Zion Oil & Gas Inc.
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Shell plans investments of $12 billion/year for 2 years
Royal Dutch/Shell Group has set a 3-year strategy to maintain profits at 15%/year, invest $12 billion/year for 2 years, cut costs by $500 million/year, and sell $7 billion of under-performing assets if necessary.
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MMS okays FPSO use in Gulf of Mexico
The US Minerals Management Service has approved the use of floating production, storage, and offloading systems in the central and western Gulf of Mexico.
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DOE picks research program projects
The US Department of Energy added two more projects to its program to develop technologies to increase natural gas production from low-permeability reservoirs. The agency selected 20 other projects for the program last August (OGJ Online, Aug. 15, 2001). Both of the new projects focus on the challenges of excess water production.
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EDITORIAL: A look at oil dependency
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Exploration & Development
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Cuba's oil output rises, other projects loom absent sanctions
The main exploration and development operator in Cuba looks likely to set an oil production record for the fifth straight year.
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Partners solicited to explore N. Korea onshore area
Sovereign Ventures Pte. Ltd., Singapore, is seeking experienced partners to explore and develop the first onshore oil and natural gas concession in communist North Korea to be granted to a foreign company.
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Area Drilling
Brunei Shell Petroleum Co. Sdn. Bhd. plans to proceed with the $80 million development of Egret gas and oil field offshore and northeast of Fairley field.
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Cuba's oil output rises, other projects loom absent sanctions
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Drilling & Production
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Fieldbus provides advantages for Indonesia waterflood project
The waterflood facilities for PT Caltex Pacific Indonesia´s Balam and Bangko oil fields, on Indonesia´s Sumatra Island, included Foundation fieldbus systems that had several advantages over traditional 4-20 ma analog signals, including interoperability among products from several vendors.
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Downhole valve facilitates underbalanced drilling
Pinnacle Operating Co. Inc., Shreveport, La. successfully used a new downhole deployment valve in an underbalanced drilling application to avoid formation damage, save rig time, and minimize drilling fluid costs in its Whitney 19 No. 1, North Louisiana sweet gas well, drilled in the James Lime trend.
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Fieldbus provides advantages for Indonesia waterflood project
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Processing
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New technique defines the limits of upgrading heavy oils, bitumens
A simple, new technique relates product gravity to its elemental composition in a variety of processes, using data for Alberta heavy oils and bitumens. This approach allows integration of material balances with a prediction of product quality for existing process technologies and proposed schemes.
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Nelson-Farrar Cost Indexes
Nelson-Farrar Cost Indexes
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NELSON-FARRAR QUARTERLY COSTIMATING: Yearly refinery construction indexes listed for 74 years
Here are yearly values for the Nelson-Farrar refinery inflation cost index since 1926.
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New technique defines the limits of upgrading heavy oils, bitumens
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Transportation
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First commercial sales flow from Malampaya gas plant, pipelines
Gas sales began this month from the Malampaya project, offshore Philippines, to electric power generators on the main island of Luzon.
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First commercial sales flow from Malampaya gas plant, pipelines
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Special Report
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Industry faces reorientation at start of 2002
Together, oil prices that slumped instead of jumped and an antiglobalization movement stymied by events demonstrate the burgeoning influence of global interdependency. Adjusting to that influence challenges the oil and gas industry this year and will do so for many years to come.
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Oil Markets teetering on brink of oil price spike or collapse in 2002
Has there ever been greater uncertainty for the direction of oil prices?
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E&D organizations face structure, focus, cost issues
The structure and business orientation of exploration organizations promises to be a key issue for the exploration and development sector in 2002.
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Complexities challenge oil, gas production in 2002
As the complexity of producing oil and gas grows, the oil and gas industry continues to seek a better understanding of producing mechanisms as well as to develop new tools for bringing fluids to surface at a lower cost.
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Challenging wells require greater rig capabilities, enabling technologies
Drilling rigs that have been renovated with capacity and efficiency enhancements and efficient newbuild rigs will enjoy higher utilization rates in the year ahead and long term.
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Evolving fuel specifications to drive refining spending in 2002
In 2002, two major trends-clean fuels requirements and industry consolidation-will affect the supply and demand of refined products throughout the world.
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Regulations, technologies aim at safer, more reliable pipeline systems
Government actions and markets will combine in 2002 to set pipeline operators´ priorities for several years.
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Industry faces reorientation at start of 2002
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Print Ad Index
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Advertising Sales/Advertisers Index
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