Editorial: US energy's sore thumb
Future US energy supply has a sore thumb—the colloquial symbol of something that stands out from everything else. Energy supply's sore thumb is undrillable federal land.
US producers, service firms post improved first quarter results
Increased production and higher oil and natural gas prices improved the first quarter earnings of most US producing companies in a sample of firms. Refining margins also improved for some companies, and foreign currency exchange rates helped to lift net income.
Canadian firms report reduced first quarter financial results
A stronger Canadian dollar relative to the US dollar appears to have suppressed the first quarter earnings of most of the companies based in Canada that OGJ sampled. While production volumes may have been higher, realizations declined.
International oil summit addresses high oil prices
Factors driving the unprecedented long period of high oil prices and their effects on oil supply, demand, and the oil company-oil service company relationship were dominant themes at the fifth international oil summit in Paris Apr. 29.
MPGC: Energy security relies on more than assured supply
Energy security involves more than the supply assurance on which oil-consuming countries, especially the US, rivet their attention. To oil exporters, it also means assurance of markets, speakers emphasized May 10 at the Middle East Petroleum & Gas Conference (MPGC) in Bahrain.
GCC ministers agree to boost security in Persian Gulf
Even as the US Navy vowed to use "deadly force" to prevent any further disruption of Iraqi oil exports, interior ministers of the six-member Gulf Cooperation Council (GCC) have agreed to step up their cooperation on issues of security throughout the Persian Gulf region.
Japanese shipping group halts oil calls to beleaguered Iraqi terminal
A leading Japanese shipping group has reported it will no longer send oil tankers to Iraq's Basra oil terminal (BOT) following suicide attacks that killed three US sailors and interrupted oil exports last month (OGJ Online, Apr. 24, 2004).
Watching Government: Gas venting
After a 3-year effort by the World Bank and Norway, 11 countries and 8 major oil companies met May 11 in Algiers to sign a voluntary global natural gas venting and flaring reduction standard.