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Saudi Arabia is one of the world's richest countries in hydrocarbon resources. Its overall economic stability and growth are heavily dependent on these resources. An ambitious plan is currenly under way to restructure the economy.

On a 423-4 vote, the US House of Representatives last week decisively passed a compromise pipeline safety measure largely supported by industry, as House and Senate leaders continued negotiations on a much larger energy reform bill.

The US House of Represenatives, on a 252-172 vote late July 17, approved a measure that seeks to prohibit new drilling activity on 36 undeveloped federal oil and gas leases off the California coast.

President George W. Bush's top environmental enforcers have sought to reassure skeptical senators of US Northeast states that they will still prosecute refiners and power generators that allegedly remodel or expand plants without installing updated pollution controls.

Congress this year may pass legislation creating two new cabinets, both of which the White House endorses in principle. Serious negotiations are under way for a cabinet-level Department of Homeland Security; a Department of Environmental Protection is also being considered.

Due to a combination of increased domestic supplies and "exceptionally weak" demand, US petroleum imports fell more than 8% during the first half of this year-the largest 6-month decline in more than a decade-officials at the American Petroleum Institute in Washington, DC, reported.

The bloom seems to be off the rose for Brazil's exploration and development scene.

Brazil's National Petroleum Agency (ANP) reported that Petroleo Brasileiro SA (Petrobras) flares more than 8 million cu m/day (MMcmd) of natural gas in the Campos basin off Rio de Janeiro state.

Petróleo Brasileiro SA (Petrobras) announced an agreement in principle to acquire a controlling interest in Argentina's Perez Companc SA from the Perez Companc family and its foundation, for $1.18 billion.

Mark Weller has been named president of Houston-based independent Pan gea Petroleum Corp., Houston. Weller, who has worked as a consultant for Pangea for the last 6 months, has over 30 years of experience in the energy industry.

The casual observer generally rejects the possibility of hydrocarbons occurring in the Precambrian basement rocks of Ohio and surrounding region. However, it appears that a major paradigm shift must occur as we continue to search for deeper resources.

The petroleum industry has demonstrated support for international standardization by issuing in the past 3 years a stream of standards through the Geneva-based International Organization for Standardization (ISO), moving away from existing industry standards, national standards, and company specifications.

The second edition of American Petroleum Institute (API) Standard 1130 for computational pipeline monitoring (CPM) will be published later this year.

A relatively simple method of estimating sand velocity and hold-up in multiphase flowlines allows a design engineer to determine whether a producing well needs a sand-exclusion system at a subsea wellhead.

Additions to Asia Pacific's refining capacity in the past 4-5 years have transformed the region from a major net importer to a net exporter of refined products.

ABS Offshore
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