Amid sluggish product demand growth, poor refining margins, decreased compliance with output quotas by members of the Organization of Petroleum Exporting Countries, and the risk of a double-dip recession, the price of oil recently has hovered around $30/bbl.
"Au Contraire" regarding your editorial "No more CAFÉ futility" (OGJ, Aug. 19, p. 19). The mandated CAFÉ 27.5 mpg was the smartest thing Congress did in years. The automobiles being made in America were getting larger than today's SUVs, running with eight cylinders, and averaging about 10 mpg.
Drilling industry activity has been a rollercoaster ride in recent years, with drilling contractors scrambling during the activity peak in the winter of 2000-01 to mobilize rigs and crews at a breakneck pace.
Stratford, Conn., has appointed Charles S. Wolley as president. Wolley previously held executive positions with Leslie Controls, Dresser Valve & Controls, Van Leeuwen Pipe & Tube, and joined Dresser Measurement & Control in 2001 as senior vice-president.
More than a dozen industry groups have urged the US Senate to reject pending legislation to give the US Environmental Protection Agency broad new authority over security at chemical plants and refineries.
As the US Congress resumed energy bill negotiations last week, environmental and public interest groups called on lawmakers to reject a pending Senate provision designed to exempt fuel ethanol from federal and state product liability lawsuits.
If the US takes military action against Iraq, oil prices probably will quickly tumble as other members of the Organization of Petroleum Exporting Countries increase production to offset the shortfall of Iraqi exports, as they did in 1991, said Robert Morris at Salomon Smith Barney Inc.
This article, last year, celebrated the drilling industry's achievements in finding crews and mobilizing an aging rig fleet to exceed not only the 1997 drilling activity peak but also what many pundits said was the industry's drilling capacity at the time.
Within the next 2 years, drilling activity should reach the limit of existing rig capacity, prompting drilling-rig new builds as the US oil and gas industry struggles to restore natural gas production rates.
The miscible-gas enhanced oil recovery project for the North Sea Magnus field included the construction of the first permanent pipeline system in the West of Shetlands area of the North Atlantic margin.
Norsk Hydro ASA installed downhole for the first time in the world, multiple fibre-optic sensors combined with surface controlled, flow-control components, according to Weatherford International Ltd., the supplier of the intelligent technology.