Oil & Gas Journal Articles, Apr 2004

Regular Features
- Letters
  - Letters
    In Maureen Lorenzetti's article "Saudis refute claims of oil field production declines (OGJ, Mar. 8, 2004, p. 24), the oil in place of Saudi Aramco was given as 700 billion bbl, with 238 billion bbl of contingent resources.
- OGJ Newsletter
  - OGJ Newsletter
    Energy futures prices climbed ahead of the Mar. 31 meeting of the Organization of Petroleum Exporting Countries in Vienna as traders lost hope that the group might postpone a 1 million b/d oil production cut planned for Apr. 1.
- Journally Speaking
  - Gasoline price controversy
    It seems lately that US drivers can't turn on the television without being bombarded by local and national news outfits about the latest gasoline price hike.
- Equip/Software/Lit
  - Equipment/Software/Literature
    The EPC-150 lean-burn engine air-fuel ratio control shown here is the newest member of an air-fuel ratio control family of products.
- Services/Suppliers
  - Services/Suppliers
    Houston, has announced that Matt Bratovich joined Baker Atlas as product line manager, geoscience.
- Editor's Perspective
  - Madrid bombings highlight terrorist links in Iraq
    If Spanish voters are right, the US is right to press the fight against terrorism in Iraq.
- Market Hotline
  - Is $3/gal US gasoline in prospect?
    Are gasoline pump prices headed for $3/gal in the US this year?
General Interest
- Editorial: A market breather
  Calls last week for a production increase by the world's major oil exporters sounded silly.
- Point of View: Saudi Oil Minister Al-Naimi sees kingdom sustaining oil supply linchpin role for decades
  Saudi Arabia is intent on reaffirming its role as the world's linchpin oil supplier for as long as that hydrocarbon can be produced economically.
- Saudi supergiant Shaybah oil field still growing
  Shaybah oil field, Saudi Arabia's newest supergiant, is approaching its sixth anniversary yet still is growing in terms of reserves and potential productive capacity.
- Aramco finds new gas reservoir in Shaybah field
  Saudi Aramco has found a new natural gas reservoir in the heart of Shaybah oil field.
- Pentagon awards civilian fuel contracts for southern Iraq
  Three Middle Eastern companies won a total of $191.7 million in fixed-price contracts to help meet civilian fuel demand in southern Iraq for a 3 month period starting Apr. 1, the Pentagon said Mar. 16.
- CGES: Iraq's oil production recovery will be slow going
  Restoring Iraqi oil production to prewar levels will be a slow and painful process in the face of widespread looting, sabotage, and armed attacks on US and allied forces.
- Petroecuador resumes oil exports from SOTE system
  Ecuador's state-owned oil company Petroleos de Ecuador resumed oil exports Mar. 26 from its Trans-Ecuadorian Pipeline System (SOTE) after a warning from the six-company consortium that controls and operates the Oleoducto de Crudos Pesados (OCP) pipeline.
- LNG14: World's gas demand growth pushes LNG projects
  Despite movement toward spot contracts for LNG cargoes in recent years, Algeria's Minister of Energy and Mines Chakib Khelil Mar. 21 defended the centrality of long-term contracts in LNG trade in a keynote address that opened LNG14 in Doha.
- Watching Government: LNG rules
  Multinational oil and natural gas companies aren't the only ones with an LNG fixation.
- EIA: Leasing ANWR's 1002 area spells less oil imports
  The US Energy Information Administration told a key US House lawmaker that opening the 1002 area of the Arctic National Wildlife Refuge to oil exploration and development could mean that the US imports 8% less crude in 2025.
- Reserves uncertainty proving detrimental to E&P stocks
  Reserves reclassifications concern investors because the market has sold off shares of companies reporting negative reserves revisions, Houston-based Simmons & Co. International Ltd. said.
- Shell cuts reserves again; delays annual report release
  Royal Dutch/Shell Group cut its oil and natural gas reserves for the second time this year and announced that its 2003 annual report would be delayed until late May.
- Company News: Marathon Oil to acquire Ashland's stake in MAP
  In a deal that Marathon Oil Corp. said would complement its long-term growth plans, the Houston-based integrated petroleum company will acquire Covington, Ky.-based Ashland Inc.'s 38% interest in Marathon Ashland Petroleum LLC (MAP) for $2.93 billion.
- Personnel Moves and Promotions: Norsk Hydro elects Reinas chairman
  Norsk Hydro ASA, Oslo, elected Jan Reinas chairman. He succeeds Egil Myklebust, who was on Hydro's board for 12 years and chairman for the last 3 years.
Special Report
- Worldwide capital outlays expected to moderate in 2004
  Oil and natural gas industry capital spending in the US and Canada will be little changed in 2004 from last year's increased investment.
- Analysts: 2004 capital spending strong outside the US, Canada
  A handful of analysts' forecasts indicates that there will be a moderate uptick in worldwide exploration and production capital expenditures this year. The forecasts peg worldwide upstream capital spending to increase 4-12% over last year's spending, with the majority of the projected growth outside the US and Canada.
Drilling & Production
- Orifice meters provide acceptable wet-gas measurements
  Orifice meters provide acceptable wet-gas measurements Wet-gas metering at wellsites saves capital and operating costs while providing acceptable accuracy unless liquid slugging occurs.
Processing
- Chevron Texaco assays Doba crude
  ChevronTexaco Corp. conducted an assay of the Doba blend crude produced in Chad and pumped through the recently completed Chad-Cameroon pipeline.
- Nelson-Farrar cost indexes
  Nelson-Farrar cost indexes
- Nelson-Farrar Quarterly: Indexes for selected equipment items
  Indexes for selected equipment items Continuing a trend starting in 1983, the Nelson-Farrar refinery construction index rose slowly from 1,609.5 in January 2002, to 1,742.7 in December 2003.
Transportation
- Extending Druzhba still makes sense for more Russian oil exports
  stSeveral export proposals have responded to recent and expected growth in Russian crude oil exports.
Print Ad Index
- Advertising Index
  ADIPECwww.adipec.com

Exploration & Development

Shell's reserves revision: A critical look
Shell's downward revision of its worldwide reserves early this year created a big fuss among investors.

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Issue 13

Table of Contents

Oil & Gas Journal

Regular Features

Letters

OGJ Newsletter

Journally Speaking

Equip/Software/Lit

Services/Suppliers

Editor's Perspective

Market Hotline