Continued declines of oil and petroleum products inventories among Organization for Economic Cooperation and Development (OECD) countries through October "buttresses our contrarian view that crude's last trek to $32(/bbl) was a function of tightening oil balance as opposed to the much maligned 'war premium,' which we think was minimal," said Michael Rothman.
At this time of year, for many of us, thoughts naturally turn to home and memories of Christmases past. Some may recall a trip with Dad to pick out the family's Christmas tree or the aroma of Mom's pumpkin pie.
The Editor's Perspective and Market Hotline (OGJ, Oct. 14, 2002, p. 80) brings to mind the importance of maintaining standby infrastructure so that fluctuating demands and emergency scenarios can be properly accommodated. Providing such "excess infrastructure," particularly under the "earnings pressure" corporations currently experience, is a function the free market system cannot easily deliver. That presents a significant risk to a "free market."
The US Congress has shown it can act constructively on energy when not asked to address every challenge at once. In 1995 it stimulated the country's most important exploration and development play in many years by providing graduated royalty relief for production from federal leases in deep water.
Lundin Petroleum AB, Stockholm, said Preussag Energie GmbH, Lingen, Germany, took a farmout of a 331/3% interest in blocks D and E in Albania, subject to National Petroleum Agency approval.
The new HWX family of in-line process pumps consists of 11 types referenced in API 610, 8th Edition (and upcoming 9th Edition), as OH3 (bearing frame), OH4 (rigid coupled), and OH5 (directly coupled) designs.
Houston, has appointed Steve W. Shores vice-president of engineering. Shores is a graduate of the University of Tulsa with a BS in mechanical engineering, and has nearly 30 years of diversified engineering, project management, and business management experience.
The "What if?" game on Iraq and the US dominates oil market scenarios at the moment. As discussed in this space last week, there is ample evidence that conflict in Iraq is all but inevitable amid already tight market fundamentals.
The implosion of Houston-based Enron Corp. in the autumn of 2001 can in some ways be compared with the horrific events of Sept. 11, 2001: Both caused pervasive and irreparable damage—the latter to America's sense of security and the former to the momentum of a once-thriving energy industry.
Regulators who failed to enforce the rules created a bizarre market in which speculators controlled vital commodities, says the president of the California Public Utilities Commission (CPUC).
Terry D. Boss, senior vice-president of environment and safety for the Interstate Natural Gas Association of America (INGAA), knows that representing interstate gas pipeline operating companies, a group that transports more than 90% of the natural gas consumed in the US, can be a daunting challenge.
Industry officials praised new action by the US Environmental Protection Agency designed to update air pollution control guidelines for power plants and refineries.
The strategies of some of the largest publicly traded oil and gas companies have been revealed in a recent comprehensive study released by energy consulting firm PIRA Energy Group, New York City.
Richard G. Reiten, chairman and CEO of Portland, Ore.-based Northwest Natural Gas Co. (NW Natural) has been elected chairman of the American Gas Association for 2003.
In these days when the oil and gas industry is looking for untapped resources overseas, a significant domestic resource is owned and managed by the Native American Tribes and Native Corporations of Alaska.
Petroleum prospectivity could be more favorable than previously believed on the Naturaliste plateau seaward of the Perth basin off south Western Australia, a study by Geoscience Australia, Canberra, concluded.
Full-bore isolation valves (FBIVs) and multicycle tools (MCTs) eliminate the need for installing a drilling rig with a completion riser during subsea tree installation, thus reducing the time and cost for completing these wells.
Accurate prediction of bottomhole circulating temperatures (BHCT) and bottomhole static temperatures (BHST) is important during drilling and completion of oil and gas wells.
Economic analysis of use of a floating production, storage, and offloading (FPSO) vessel to produce a dry-gas reservoir indicates that such use is technically feasible.
