The Organization of Petroleum Exporting Countries' market share will likely rebound to 40%, according to Merrill Lynch & Co., and it will do so without an oil price war.
With the summer driving season approaching, US gasoline pump prices have gotten a head start on their expected increase. And the Organization of Petroleum Exporting Countries doesn't want to take the blame for the rising fuel prices this time around.
According to a Mar. 3, 2002, story in the Houston Chronicle, "Half of American's believe there is a real energy shortage in this country" while "last summer, only a third thought the shortage was real." Recent wild price swings in natural gas as well as gasoline at the pump have most surely brought this subject to light.
The direction of the US natural gas market typically enjoys a consensus. Of course, in the oil and gas business, too much consensus on commodity price outlooks often invites the inevitable sucker punch from reality.
A host of other amendments are in prospect for grafting onto the ballooning Senate energy bill (S. 1766 ). This list, provided by the Democratic Party's Policy Committee, excludes nonenergy-related amendments.
US Gulf of Mexico deepwater production again hit record levels last year, with an estimated 335 million bbl of oil and 1.18 tcf of gas, said officials of the US Minerals Management Service.
Sen. Carl Levin (D-Mich.), chairman of the Senate Permanent Subcommittee on Investigations, said he will hold a series of hearings this month to update the public on his subcommittee's 10-month investigation into gasoline price increases.
Peru's energy and mines ministry last week postponed until further notice the signing of a build, own, operate, and transfer contract with Belgium's Tractebel SA that covers the concession for and distribution of natural gas from the Camisea project in metropolitan Lima and Callao.
Shell Resources PLC, a wholly owned member of the Royal Dutch/ Shell Group, announced Apr. 2 an offer to purchase all shares of UK independent Enterprise Oil PLC for £4.3 billion ($6.2 billion).
To meet the challenges of extended-reach drilling, deep and ultradeepwater wells, and horizontal completions, the drilling industry has dramatically increased its use of downhole positive displacement motors (PDM) during the past few years.
Recent advances in FCC short contact time operations coupled with heavier feedstocks have resulted in more catalytic crackers operating in a mass transfer limited regime. The rate of mass transfer-not catalytic activity-determines the reaction rate in these units.
The world's, refiners are faced with environmental regulatory initiatives, including clean fuels requirements and reductions in air pollution emissions from hydrocarbon processing.
