Just in time for general elections, four congressional Democrats and one independent have concocted an environmental issue out of technical complexity, ignorance, and fear.
Recent legislative changes have improved but not totally repaired the buyback contract covering exploration and production by foreign investors in Iran.
Bijan Namdar Zanganeh, Iran's minister of petroleum, recently announced that the Islamic Republic, with 132 billion bbl of oil, is the world's No. 2 nation in oil reserves after Saudi Arabia.
A new framework for assessing oil and natural gas reserves should be implemented for better estimation, increased accuracy, and improved production and income potential, said analysts in two briefing papers recently issued through the Royal Institute of International Affairs, also known as Chatham House, London.
Oil prices apparently have a support level of $30/bbl for North Sea Brent crude, based upon their recent record and the world supply-demand balance, BP PLC Chief Executive John Browne told reporters Oct. 26 in London.
The International Energy Agency released the 2004 edition of its World Energy Outlook Oct. 26 in what Executive Director Claude Mandil described as "an extremely unsettling environment" in which "the energy world has lost its bearings."
Alaskan government officials and the three major North Slope producers express optimism that they will reach an agreement to build a natural gas pipeline to the Lower 48 states now that several incentives have become federal law.
