Energy futures prices fell Mar. 3 as traders reacted to what they saw as unexpectedly bearish government and industry reports of a build in US crude inventories during the week ended Feb. 27.
Climate's rocky road
Some 40 years ago as a freshman college student, I signed up for a geology course to satisfy the science requirement under my liberal arts course of studies. Having grown up in Texas oil fields, I figured the study of fossils would be more fun than cutting up frogs in a biology lab.
In the World Bank's Extractive Industries Review (EIR), the oil and gas industry has something to regret more than the recommendation that the bank quit funding oil projects (OGJ, Feb. 16, 2004, p. 29).
Iraq has begun to increase its potential to export crude oil, with the long-awaited delivery of oil now under way via the country's northern pipeline system along with new and expanded transport facilities serving the country's southern fields.
Restrictions on exploration access to offshore areas to increase North American natural gas reserves is a major and continuing obstacle, says a senior energy consultant and analyst.
The future near and midterm supply of US and Canadian natural gas came under close scrutiny during a panel discussion by industry participants Feb. 20 at the second annual Energy Finance Conference.
Worldwide production of natural gas, currently at 2.6 trillion cu m/year (tcm/year), is expected to rise to 4.755 tcm/year by 2025, an average increase of 2.75%/year.
Brazil's energy sector needs further restructuring to meet its domestic oil needs, said Rice University's Baker Institute for Public Policy in a recent study.
An extended period of relatively high oil and gas prices has provided operators with the financial ammunition to explore some of the world's more remote areas.
The design of an acid-gas injection system requires numerous design considerations, as shown in this second of two articles on the Lisbon gas plant, Moab, Utah.
An economic analysis comparing two options for moving natural gas—pipeline only and combined pipeline and LNG scheme—from Turkmenistan to China has shown the clear superiority of the long-distance pipeline option.
Movement of crude oil north from the Black Sea towards European markets will retain the option of the Odessa-Brody crude oil pipeline, even though the line has lain idle since its completion more than 2 years ago and a Ukraine commission had recommended reversing it to allow Russian crude oil to flow to a new Black Sea oil terminal at Pivdenne (OGJ, Feb. 23, 2004, p. 7).
