Reappraisal of energy supply-demand in 2050 shows big role for fossil fuels, nuclear but not for nonnuclear renewables
There are a number of different energy scenarios currently being proposed, but most industry analysts forecast that world primary energy demand will double by 2030, climbing to 18 gigatonnes of oil equivalent (Gtoe)/year from 9 Gtoe in 2000, and roughly triple to 25-30 Gtoe by 2050.
CERA: Two majors eye current, future industry concerns
Heads of two of the oil and natural gas industry's biggest companies offered prescriptions for short-term and long-term industry headaches at a major Houston energy conference last week.
CERA: Energy Sec. Abraham pushes Bush administration hydrogen-fuel plan
The administration of US President George W. Bush has taken its hydrogen-fuel initiative to oil-producing Texas.
Watching Government: Hydrogen power
President George W. Bush's state of the union speech to Congress last month highlighted what the White House says is a key domestic policy issue: reducing foreign oil dependence.
POINT OF VIEW: TNK's Kukes: Russia must look to new markets for its oil
With its projected sustained growth of both oil production and exports, Russia must look for new markets in the US and Asia beyond its historical role as a "regional supplier (primarily to western Europe)," said Simon G. Kukes, president of Tyumen Oil Co. (TNK), Russia's fourth largest oil producer.
CERA: Yukos CEO claims BP deal proves PSAs not necessary for Russian investments
The $6.75 billion deal that BP PLC announced Feb. 10 to join its Russian interests with that of the Alfa Group and Access-Renova (AAR) "proves" that production-sharing agreements (PSAs) are not necessary to encourage foreign investment in that country, said Mikhail B. Khodorkovsky, chairman and CEO of OAO Yukos.
BP, Russian investors in TNK, Sidanco create new Russian company
BP PLC plans to invest $6.75 billion in a partnership with two other companies to create the third biggest oil and natural gas company in Russia.
COMPANY NEWS: Plains E&P to acquire 3TEC Energy for $432 million
Plains Exploration & Production Co. has inked a deal to acquire 3TEC Energy Corp. for a total of $432 million in cash and stock. As part of the agreement, each 3TEC stockholder will receive $8.50 in cash and 0.85 share of Plains E&P common stock for each share of 3TEC stock held. Both companies are based in Houston.
PERSONNEL MOVES AND PROMOTIONS: Three US independents name executives to key positions
Three top US-based independent exploration and production companies have named executives to new positions.