Oil & Gas Journal Articles, Jun 2004

Regular Features
- OGJ Newsletter
  - OGJ Newsletter
    At a special June 3 meeting in Beirut, members of the Organization of Petroleum Exporting Countries hammered out a compromise agreement to immediately raise their total crude production quota by 2 million b/d, with another hike of 500,000 b/d starting in August.
- Letters
  - Letters
    The well-written article by Sadad al-Husseini "Rebutting the critics: Saudi Arabia's oil reserves" (OGJ, May 17, 2004, p. 16) has prepared us for higher oil prices in the future because of maturing fields and smaller sizes of fields yet to be developed.
- Journally Speaking
  - Oil sands boom
    The oil industry goes through many boom-and-bust cycles. Some cycles are global in nature, affecting the entire industry.
- Area Drilling
  - Area Drilling
    Centurion Energy International Inc., Calgary, was awarded 75% working interest in the West Manzala and West Qantara blocks in the onshore Nile Delta.
- Equip/Software/Lit
  - Equipment/Software/Literature
    As many as six gas hazards can be measured and monitored simultaneously via this new G750 Polytector II gas detector.
- Services/Suppliers
  - Services/Suppliers
    Wärtsilä Corp. Vaasa, Finland, has appointed Lars Hellberg as group vice-president, head of engine division, and member of the board of management.
- Editor's Perspective
  - Role of mergers overstated in GAO fuel-price study
    Even if it's right—which it probably isn't—a new report by the US General Accounting Office on oil-industry mergers amounts to whistling in a storm.
- Market Hotline
  - US gasoline demand spike belies price worries
    US motorists complaining about the high price of gasoline are a little like those folks who sued McDonald's for making them fat.
General Interest
- Editorial - Reserves questions
  Politics threatens the unsteady relationship between financial accounting and the reporting of oil and natural gas reserves.
- Point of View: Pan-Ocean CEO, Pres. Lyons cites caution, diligence as keys to African success
  There is only one way to take a smaller North American independent and turn it into an expanding producer in Africa with good growth prospects.
- KPMG: Energy officials assess industry challenges
  KPMG: Energy officials assess industry challenges A panel of industry experts assessed a variety of challenges facing the oil and natural gas industry at an energy conference in Houston May 25-26, hosted by KPMG LLP.
- PDVSA reassures US investors about its supplier role
  Top executives from state-owned Petróleos de Venezuela SA (PDVSA) came to New York May 19 looking to reassure nervous US investors that the company takes its role as a key short-haul supplier to US markets very seriously.
- US energy price political rhetoric likely to heat up
  With motorists expected to pay higher gasoline prices this election year summer, US policymakers are looking to place blame.
- Watching Government: Indian horizons
  India's new leader wants foreign investment in the country's oil and gas sector, but state-owned companies may not be privatized anytime soon.
- Ecuador postpones bidding round in Amazon basin
  Ecuador has indefinitely postponed a bidding round aimed at ramping up oil production at four state-owned fields in the Amazon basin that have combined reserves of some 905 million bbl.
- Long-term contracts vital in EU free gas market
  Long-term supply contracts will play a more important role in the new European Union free gas market than originally planned, contends London-based analyst Prospex Research Ltd. in a recently released report.
- Former CPA advisor's hopes high for Iraqi oil industry
  Iraq's oil business "is basically ready to hand over now" to Iraqi control, said Robert E. McKee III, the former ConocoPhillips executive who recently completed 6 months' service as senior oil advisor to the Coalition Provisional Authority in Baghdad.
- Middle East strife, US economy to fuel oil, gasoline prices
  Continued tensions in the Middle East, a strengthening US economy, and increased oil demand by China and the US are fueling high oil and gasoline prices, analysts for Standard and Poor's Equity Research Services said May 25 during an S&P-hosted teleconference.
- EIA: China, US lead future long-term oil demand growth
  Over the next 2 decades China and the US will fuel much of the new global oil demand, a long-term analysis by the US Energy Information Administration predicts.
- Middle East to play large role in gas supply to China, India
  Zooming demand for energy in rapidly growing China eclipses other growth markets in the Eastern Hemisphere, speakers said May 12 at the Middle East Gas & LNG Forum in Bahrain.
- China becoming world oil market's 'most dynamic factor'
  China accounted for 40% of total growth in world oil demand during 2000-04, said Cambridge Energy Research Associates (CERA) in a report on China energy.
- Company News - US independent E&P firms top recent M&A activity
  Several US independents have been actively acquiring or merging with companies smaller than themselves, and XTO Energy Inc., Fort Worth, announced plans to acquire a package of properties from ChevronTexaco Corp.
- Personnel Moves & Promotions
  Royal Dutch recommends managing director; Shell Canada appoints CEO Royal Dutch Petroleum Co. has recommended that its shareholders later this month elect Linda Zarda Cook as managing director, effective Aug. 1.
Exploration & Development
- Newfield groups prepare for drilling on gulf shelf ultradeep Treasure blocks
  What Newfield Exploration Co., Houston, said is likely to become the deepest well on the Gulf of Mexico shelf might spud before the end of 2004.
- Interest in Canadian Laurentian acreage may overshadow extended French block
  Interest in Canadian Laurentian acreage may overshadow extended French block ExxonMobil Canada Properties and Conoco Canada Resources Ltd. have been awarded an extension of the Saint-Pierre-et-Miquelon permit in the Atlantic south of Newfoundland.
- Exploration off N. Korea might include S. Korean participation
  Press reports in mid-May said South Korea's state Korea National Oil Corp. was considering participation in an exploration project off North Korea's west coast.
Special Report
- Oil sands drive Canada's oil production growth
  Forecasts show that bitumen production from Canada's oil sands may exceed ¹.8 million b/d by 2010 up from an average 920,000 million b/d in 2003.
- SAGD drilling parameters evolve for oil sands
  Optimized drilling procedures, incorporating improved directional drilling and ranging systems and slant drilling, allow operators to use steam-assisted gravity drainage (SAGD) wells for recovering bitumen.
Processing
- US propane: prices hold, inventories remain low in first quarter 2004
  At the end of first quarter 2004, monthly average propane prices in the US firmed to 58¢ and 60¢/gal at Conway, Kan., and Mont Belvieu, Tex., respectively. February stocks closed at 25.8 million bbl, still 5 million bbl below normal.
- Nelson-Farrar cost indexes
  Nelson-Farrar cost indexes
Transportation
- Preparation key for pipeline's management of large spill, explosion
  Preparation key for pipeline's management of large spill, explosion A significant pipeline spill or explosion can cause substantial damage to a company.
Print Ad Index
- Advertising Index
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Issue 21

Table of Contents

Oil & Gas Journal

Regular Features

OGJ Newsletter

Letters

Journally Speaking

Area Drilling

Equip/Software/Lit

Services/Suppliers

Editor's Perspective

Market Hotline

General Interest

Exploration & Development

Special Report

Processing

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