The capacity imperative
"The capacity imperative" editorial along with Doyle Grogan's letter, "Energy Policy," relate to the readers that the emphasis on foreign oil has shifted in the public's mind (OGJ, Sept. 6, 2004, pp. 19,12).
Technological advances seem to be occurring at warp speed today, compared with 15-20 years ago. Lasers, for example, have transformed the medical field and are being used in countless other applications.
The November contract for benchmark US crudes closed at a record $53.64/bbl, up 33¢ Monday on the New York Mercantile Exchange after trading at a new peak of $53.80/bbl during that session.
Breaking energy silence
In the closing weeks of a US presidential campaign during which nominal oil prices have set records and gas prices have shuttered businesses, conversation among candidates about energy has been striking for its absence.
Investment requirements for natural gas infrastructure in North America will be amplified by market changes beyond the 33% consumption growth expected through 2020.
Strong worldwide energy demand is creating both opportunities and challenges for oil and gas producers and the oil service industry, said speakers at the 10th annual RMI Breakfast Forum Oct. 8 in Houston.
China's oil, gas sector seen at 'critical juncture'
China's oil and natural gas sector is at a "critical juncture" in its development, according to views presented Oct. 5 by partners of international law firm Fulbright & Jaworski LLP.
Caricom (the Caribbean Community) islands will benefit from an oil support program the Trinidad and Tobago government is setting up to assist the region's economies hardest hit by high oil prices.
The Trinidad and Tobago government alleges that Atlantic LNG Co. of Trinidad & Tobago has not fully reported its revenues and has denied the country its fair share of taxes.
Most members of the Organization of Petroleum Exporting Countries are pushing the limits of their oil production capability, and some probably are finding that their sustainable capacity is not as high as originally thought.
Worldwide exploration and production expenditures should continue to ride on the wave of soaring oil prices to reach $135 billion in 2005, up from $114 billion in 2003. Global E&P outlays are expected to reach $125 billion this year.
Regasification could well become the bottleneck at the end of the LNG chain as the lack of availability of worldwide LNG production and methane carriers is being curtailed by growing competition among regasification players as well as public opposition to terminal construction.
The Alaska legislature should consider the state's assuming a shipper's risk and possibly taking an equity position in construction of a natural gas pipeline, Alaska Gov. Frank H. Murkowski said.
Indonesia's oil, gas industry faces uncertainties
Susilo Bambang Yudhoyono becomes president of Indonesia this week with the country facing a range of energy challenges.
US E&P firms lift drilling despite uncertain policies
Encouraged by strong financial performances and rising prices for oil and gas, US independent producers have increased drilling despite an uncertain political climate.
The "simplistic assumption" that crude prices eventually will fall back "to where they used to be," around $25/bbl, is likely "invalid" in today's market situation, said J. Larry Nichols, chairman and CEO of Devon Energy Corp., Oklahoma City.
Chesapeake Energy Corp. plans to stay the course in 2005 with a business strategy that its cofounders developed during the late 1990s: Actively drill for natural gas primarily in the US Midcontinent.
XTO Energy Inc., Fort Worth, made acquisitions worth almost $2.5 billion across the US during the last 2 years, with an emphasis on expanding the East Texas operations that account for half of its oil and natural gas production.
Ultra Petroleum Corp., Houston, relies upon two vastly different asset bases for its future growth: core long-life natural gas reserves in the Green River basin of southwestern Wyoming and oil production in the shallow waters of Bohai Bay off China.
Skidmore Energy Inc. ventured into Morocco with a goal of achieving a successful "wildcat" oil and gas exploration program through the use of patented sedimentary residual magnetics (SRM) technology.
An advanced intelligent completion system that combines remotely operated, hydraulic adjustable chokes, downhole sensors, and semiautomated surface control has accelerated production, increased ultimate recovery, and reduced interventions in conventional electric submersible pump (ESP) completions.
Due to greater demand for ethane in Malaysia and a desire to improve plant operating stability, Petronas Gas Bhd. (PGB) investigated different technologies to increase ethane recovery and improve plant performance at its Gas Processing Plant A (GPP-A) complex.
A detailed analysis has determined that steel pipe-in-pipe designs have less risk of failure than several alternative designs for the proposed Liberty Pipeline to transport oil ashore from a production site in the Alaskan Beaufort Sea.
