The stage is being set for another standoff between Russia and OPEC over production cuts. A bigger question might be whether any potential market share war will come before US military action against Iraq this year.
The first well of a planned six deep play exploration wells on License 260 D1 in the South Turgai basin provided encouragement, said Hurricane Hydrocarbons Ltd., Calgary.
The administration of US President George W. Bush stepped into a trap this month with its proposed alternative to the Kyoto protocol on climate change.
Lower oil and gas prices caused weaker year-on-year results for a sampling of Canadian producers, while earnings for other firms in Canada's petroleum industry fared much better during the fourth quarter.
A new bipartisan $14 billion US energy tax bill has passed the Senate Finance Committee. Lobbyists say it is unclear where the budget offsets will come to pay for the measure, which contains about $4 billion in credits and incentives for the oil and gas industry.
Industry executives and analysts apparently are convinced that both international oil and US natural gas markets will rebound in the second half of this year.
For the second consecutive quarter, Houston energy banks and the active middle market of those companies acquiring reserves are in agreement on near and midterm expectations for oil and natural gas prices.
Hidden away in a clearing in the UK's Sherwood Forest, the home of the legendary Robin Hood and his merry men, is a striking memorial statue to a group of more real-if less famous-heroes: the US oilmen who served during World War II to develop Britain's onshore oil industry.
Saudi Arabian Oil Co. (Saudi Aramco) has initiated a hydraulic fracturing program to enhance productivity and reduce or eliminate sand production from the unconsolidated sandstone layers in the Jauf reservoir of the Ghawar field.
Abu Dhabi Marine Operations Co. (ADMA-OPCO) awarded a major gas injection project to expand the output of Zakum oil field, one of its main fields off Abu Dhabi.
Although the future of gas to liquids (GTL) is promising, the industry seems to be over-doing it with grandiose plans. About 300,000 to 400,000 b/d of GTL diesel may be in the marketplace within 5 years.
Florida Gas Transmission Co., joint venture of Enron Corp. and El Paso Corp., both of Houston, has employed advanced applications for pipeline modeling and simulation to increase sustainable deliveries by 4% without additional compression or line pipe.
As part of a 5-year investment program the Mexican government approved in early 2001, Petroleos Mexicanos (Pemex) is aggressively developing Mexico's hydrocarbon producing regions to meet the country's rising energy demand.
In today's upstream exploration and production industry, companies are placing much greater emphasis on improving collaboration between asset teams to more efficiently evaluate economics and risk factors involved in prospect development.
Successful cement jobs, providing good zonal isolation and adequate casing and wellhead support, become difficult goals to achieve at water depths grea ter than 2,000 m.
