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Point of View - Vintage Petroleum CEO seeking geographic balance
Vintage Petroleum Inc., Tulsa, has transformed itself from a US Midcontinent and Gulf Coast niche player in the early 1990s into an international company with operations in Argentina, Canada, Bolivia, Yemen, and Italy.
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Rising oil, gas investment put at $5.3 trillion to 2030
Oil companies will have to invest a whopping $5.3 trillion over the next 30 years to supply the world's increasing demand for oil and natural gas, Paris-based International Energy Agency said Nov. 20.
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OPEC price band 'too wide but also too high,' analyst says
It's only a matter of time before the Organization of Petroleum Exporting Countries will be forced "to revisit the dilemma of high price vs. market share," said Luis E. Giusti, senior advisor with the Washington-based Center for Strategic & International Studies.
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ExxonMobil executive calls CO2 emissions a 'huge' issue
Worldwide carbon dioxide emissions growth is a "huge" issue for the energy industry as it works to fulfill a global energy demand that is expected to rise 40% by 2020, an ExxonMobil Corp. executive said.
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DOT: Deepwater focus turns to smaller fields
DOT: Deepwater focus turns to smaller fields
The focus of deepwater oil and natural gas production technology (in 2,000-3,000 m of water) now is on less costly and less risky methods for bringing on stream smaller satellite fields, about 100-300 million boe.
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DOT: Forecasters expect strong deepwater activity trend
Although their forecast numbers differ, John Westwood of Douglas-Westwood Ltd., Canterbury, UK, and Paul Hillegeist, president of Quest Offshore Resources Inc., Houston, both expect deepwater development activity to increase greatly during the next decade.
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US Senate bill would restrict Saudi travel, exports
Sen. Arlen Specter (R-Pa.) and six colleagues Nov. 18 introduced a bill that restricts Saudi diplomats' travel in the US and discourages US companies from exporting certain defense-related goods to the kingdom.
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Watching Government: Nigeria transparency
Nigeria last month said it would publicly disclose all government oil and gas revenue.
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Senate GOP leaders affirm energy bill dead for the year
US Senate Republican leaders late Nov. 24 decided to drop a pending energy bill nearly 3 years in the making because they could not secure enough votes to cut off debate on the measure.
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MMS ups Gulf of Mexico deep gas reserves estimate
The US Minerals Management Service increased its estimate of "technically recoverable" deep natural gas reserves on the Outer Continental Shelf of the Gulf of Mexico to 15-55 tcf from previous estimates of 5-20 tcf, based on new data from wells drilled below 15,000 ft in the last 2-3 years and reinterpretation of previous data.
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Company News - Pakistan begins privatization of OGDCL; issues IPO
Pakistan soon plans to invite expressions of interest for the sale of 51% of its state-owned exploration and production company, Oil & Gas Development Co. Ltd. (OGDCL), to a strategic buyer or buyers.