Continued drops in US natural gas production and drilling, plus earlier draws of gas from storage because of colder fall weather, quickly will tighten market fundamentals, said Stephen Smith, president and founder of Stephen Smith Energy Associates, Natchez, Miss.
The development of renewable energy, whether from wind turbines or solar panels, is important for long-term US energy needs. Nature provides an abundant amount of sun and wind, and much of America's national energy debate revolves around developing such resources.
Vaalco Energy Inc., Houston, announced the first sale of oil from Etame field off Gabon and said a 3D seismic survey has begun in the Etame Marin Block.
This new Series 500 microprocessor-based ambient air oxygen monitor features a nondepleting electrochemical sensor. The sensor eliminates false alarms due to sensor depletion.
The Camisea natural gas megaproject has the potential to spur a surge in gas exploration in Peru comparable to that seen in Bolivia following the development of the Bolivia-Brazil gas pipeline, according to the head of the company leading Camisea's upstream effort.
US federal regulators expect a record number of local and state governments to be in violation of federal clean air guidelines because of new ground-level ozone standards.
Patina Oil & Gas Corp. said it will acquire privately held Bravo Natural Resources Inc. of Tulsa for $119 million. The transaction marks Patina's second significant acquisition in the last 30 days.
Peru's petroleum future lies in natural gas, says the country manager for the company heading the upstream portion of the most important energy project in that country's history.
According to the latest studies, refining and petrochemical companies will have to pay more for risk insurance on upcoming engineering and construction, although help is on the way.
During 2001, TGS-Nopec Geophysical Co. acquired the 6,200-km Astrolabe 2D seismic survey over the deepwater Taranaki basin, the extension of the basin from the shelf edge to the 2,000-m isobath.
Substantial underwriting losses in recent years, falling interest rates, declining equities markets, and the terrorist attacks of Sept. 11, 2001, are among the factors leading to more-costly insurance for drilling contractors and the energy industry.
Construction has started on the first major project on the Norwegian continental shelf without fixed or floating surface facilities, according to numerous recent announcements by operator Statoil ASA.
US Tier II fuel regulations (OGJ, Oct. 14, 2002, p. 20) represent a financial and logistical challenge to refiners and distributors because they place unprecedented sulfur limits on gasoline and diesel. The ultralow sulfur diesel (ULSD) mandate comes less than 1 year after new nationwide sulfur standards for gasoline were finalized.
Transportation agreements signed last month between Kazakh- stan's state KazMunaiGas and Hurricane Hydrocarbons Ltd., Calgary, will pave the way for large fields in western Kazakhstan to begin or increase production.
