The article, "Time to debunk mythical links between oil and politics" (OGJ, Dec. 15, 2003, p. 18) is interesting, but the author seems more at home with the business side of oil than with the science and engineering.
Energy futures prices were up sharply during the first trading sessions of 2004, with the February contract for benchmark US light, sweet crudes jumping by $1.26 to $33.78/bbl on the New York Mercantile Exchange and West Texas Intermediate at Cushing, Okla., bounding by $1.28 to $33.78/bbl on the US spot market on Jan. 5.
Acquisitions remain an important driver for growth for most upstream companies, especially if these companies have failed to meet market-anticipated production goals. But acquisitions don't always create value—strategies must be employed to ensure the creation of value, according to Edinburgh-based consultant Wood Mackenzie Ltd. in the recently released report, "Value creation through acquisitions."
The US Court of Appeals for the District of Columbia Circuit Dec. 24 blocked a new US Environmental Protection Agency rule designed to let refiners and power generators make certain plant repairs without obtaining new clean air permits.
The King Kong-Yosemite deepwater development project in the Gulf of Mexico (Fig. 1) involved several technologies that companies can implement either to make smaller deepwater projects commercial or to optimize larger projects better.