Several major companies are backing a Canadian pilot project to demonstrate a technology aimed at cutting the cost of transporting heavy oil via pipeline and increasing market penetration of Canadian heavy crudes in the US.
Oil companies will spend $20 billion developing the deep waters off Angola during the next 5 years, positioning the West Africa nation to become Africa's second largest oil producer, said the Centre for Global Energy Studies in a late March report.
Upgraded bituminous crudes are expected to contribute more than 1 million b/d to global oil supplies this year, according to a new analysis by London think tank Centre for Global Energy Studies.
Shell Oil Co., a wholly owned member of the Royal Dutch/Shell Group, has agreed to acquire Pennzoil-Quaker State Co. for $1.8 billion in cash and $1.1 billion in debt.
The General Services Administration Mar. 15 suspended Enron Corp., related Enron corporate entities, several former Enron officials, the accounting firm Arthur Andersen LLP, and a former Andersen official from conducting new business with the federal government. GSA said the suspension is for 12 months for all parties except for Andersen, whose suspension remains as long as it is under indictment.
Custodian C, a new low-cost four-gas monitor, offers simplified features and easy operation via a single button. One button turns the instrument on and off and resets the alarms.
Houston, has announced creation of their Value Added Services Group, and named Bill Ross senior vice-president to head the new business unit. Ross is a longtime member of A2D's executive team, and is the creator of the company's well log correlation software application, SmartSection. He holds a BS in biology from the University of Connecticut, and a master's in geology from Louisiana State University.
Growth of coiled tubing workover operations during the past decade has increased the demand for improved downhole motors for use in cleanout and milling operations.
Operators in the US Gulf Coast region complete most wells with some kind of sand-control measure, ranging from resin-coated sand to pre-packed gravel pack screens. Resins break down, however, screens become flow cut, and gravel-packs fail; wellbores require cleanouts.
A small Canadian independent said it has discovered what appears to be an important oil and gas trend in a sparsely drilled portion of northwestern Ohio.
An independent power plant is to start up in south-central Tunisia at midyear, fed by gas from two marginal fields developed by a Canadian independent operator.
Kerr-McGee Corp. led into Sale 182 with announcement that it had made three oil and gas discoveries on separate fault blocks in its core East Breaks area of the deepwater Gulf of Mexico.
Companies offered $363.2 million in apparent high bids for 506 offshore tracts at Sale 182 in the central Gulf of Mexico, the US Minerals Management Service reported.
Start-up of the Mega project in Argentina exactly 1 year ago has increased the country's LPG production by more than a third and natural gasoline production by nearly a quarter. These increases have gone into exports to Brasil.
