Big growth ahead seen for Saudi gas utilization
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.
Pipeline safety bill approved amid energy bill debate
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.
House passes measure designed to encourage California lease buyback
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.
Agencies seek to reassure senators on NSR policy shift
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.
Watching Government: Adding cabinets
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.
US oil imports hit largest 6-month fall since early '90s
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.
Industry interest in Brazilian E&D seen waning
The bloom seems to be off the rose for Brazil's exploration and development scene.
Brazil's ANP, Petrobras lock horns over gas flaring in Campos basin
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.
COMPANY NEWS: Petrobras to acquire control of Perez Companc
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.
PERSONNEL MOVES AND PROMOTIONS: Pangea Petroleum names new president
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.