FOCUS ON TURKMENISTAN: Turkmenistan's future in gas and oil hinges on certainty for export options
Turkmenistan is an important natural gas and oil-producing former Soviet republic of Central Asia whose potential is significant but constrained by a lack of certainty in hydrocarbon export options.
US-Russian summit spotlights need for Russian oil law
Government and industry officials from the US and Russia called for production-sharing agreements (PSAs), a transparent and fair tax regime, and definitive minerals rights laws in Russia during a 2-day US-Russia energy summit in Houston last week.
Study shows operators respond to economic drivers
A 7-year analysis of operating expenses among 100 exploration and production firms in nearly 3,000 fields indicates "companies are responding to strong influence of economic drivers that call for achieving operating excellence," said executives of Ziff Energy Group, Calgary, at the 17th World Petroleum Congress in Rio de Janeiro last month.
No roadblocks seen to use of FPSOs in Gulf of Mexico
A 2-day workshop by offshore industry participants and government regulators in Houston late last month found "no identifiable roadblocks" barring use of floating production, storage, and offloading (FPSO) vessels in development and production of deepwater oil projects in the Gulf of Mexico.
Senate asks Interior to halt new drilling off California
Following related House action earlier this summer, the US Senate unanimously approved a measure that seeks to prohibit new drilling activity on 36 undeveloped federal oil and gas leases off the California coast (see related item, in OGJ Newsletter).
Watching Government: Data quality
The way federal agencies use data to form new regulations and policies changed Oct. 1, thanks to a little-known piece of legislation called the Data Quality Act. Industry proponents of the measure say that once the law is fully implemented, federal regulations and information will be permanently improved.
COMPANY NEWS: Anadarko to acquire Howell in $265 million deal
Anadarko Petroleum Corp. said it will acquire Houston-based Howell Corp. in a cash deal valued at $265 million, which includes an estimated $65 million of Howell's bank debt once the deal closes. Anadarko is touting the acquisition as the "cornerstone" of a much larger effort to expand its oil production in Wyoming, which is where most of Howell's interests are located.
PERSONNEL MOVES AND PROMOTIONS: El Paso Corp. shifts executive team after NYSE changes
El Paso Corp. revealed that it would be shifting certain key members of its executive management team.