Back-to-back storms in the central Gulf of Mexico "have improved the lot of US oil refiners considerably" through a "massive transfer of tightness from crude oil into oil products," said Paul Horsnell, head of energy research for JP Morgan Chase & Co., London.
They don't make English teachers like they used to.
English teachers used to be grey-haired scolds, usually female, who wore scratchy sweaters year-round, painted their fingernails and lips scarlet, and fought an epic war against linguistic barbarity with that most terrible of weapons: the red ballpoint pen.
PT Medco Energi International Tbk, Jakarta, agreed to acquire as much as an 80% working interest in and operatorship of the 11,600 sq km Rombebai block in Irian Jaya from Ramu International LLC, Denver.
Enron Corp.'s implosion and the wave of corporate scandals that has followed it in the past year have become the business world's financial equivalent of the 1989 Exxon Valdez tanker oil spill off Alaska.
Much of the recent debate on how to strengthen corporate governance, amid the spate of recent accounting scandals and high-profile big business failures, has tilted the debate too much towards the short term—at the expense of a company's longer-term outlook, investment strategy, and, ultimately, its ability to deliver robust profitability in the years and decades to come.
An ethanol mandate, oil and gas production incentives, pipeline safety, and other important industry issues may have to be revisited next year as the fate of sweeping energy reform legislation grows increasingly uncertain.
In a move that may be indicative of the economic climate that oil services and supply companies will have to weather in the short to medium term, London-based seismic joint venture WesternGeco—owned through a 70:30 respective partnership of Schlumberger Ltd. and Baker Hughes Inc.—said that it would close down its land operations in the US Lower 48 and in Canada.
Donald F. Santa Jr., a former commissioner with the Federal Energy Regulatory Commission, will join the Interstate Natural Gas Association of America as an executive vice-president, the association said.
A group of 10 oil and gas industry participants that includes operators, contractors, and a government agency have funded a joint-industry project (JIP) to investigate and reduce problems associated with jack-up drilling rig spudcan interactions with footprints in the seabed from prior rig installations.
An improvement to the Drizo gas-dehydration process has made the process far more stable and reliable than the earlier version. The latest enhancement has demonstrated a consistent low level of water content in the exit gas, with an energy efficiency of <0.7 required of solid-bed desiccant.