As US voters went to the polls Nov. 2, the near-month crude contract dropped below $50/bbl on the New York Mercantile Exchange for the first time in 4 weeks, with benchmark US light, sweet crudes for December delivery down by 51¢ to $49.62/bbl.
Libya is "the central exploration and production buzz for 2005" among international oil companies looking for access to potentially giant oil and gas fields, said energy analyst Catherine Hunter in a report drafted for the World Markets Research Centre, part of the London-based Global Insight group of companies.
Japan and China have emerged with widely differing views of the results of talks held Oct. 25 that aimed at resolving a maritime boundary dispute affecting potential natural gas rights in the East China Sea.
The story in the Oct. 29 Washington Post about oil companies' improved third-quarter earnings might have made industry lobbyists pause because it included a still volatile word—windfall—to describe the bottom-line impact of higher prices and strong demand.
As Egypt has enjoyed the addition of significant gas reserves in the Nile Delta offshore, the long-underrated western desert has come alive with major discoveries of liquid and gaseous hydrocarbons on land.
Technology progression within advanced process control (APC) continues to evolve; however, it is the relationship among core APC developments, enabling technologies, and management practices that is producing a greater impact.
An operations planning and economics improvement project at ConocoPhillips's Lake Charles, La., refinery successfully developed and implemented high-quality kinetic process models used for unit optimization, process monitoring, and development of data needed for the refinery linear programming (LP) model.
The ability to log wells from behind casing is a key addition to available formation evaluation services because it enables operators to assess bypassed zones, analyze time effects on producing intervals, and optimize well costs when well conditions are not suitable for open hole logging.
The probable cause of an accidental explosion during a tubing cleanout in an oil well in China was hydrogen peroxide (H2O2) decomposing into oxygen and heat. The explosion destroyed the wellhead and piping. A hydraulic simulation of the explosion validated this conclusion and showed that it was not caused by a mechanical failure.
Loyola de Palacio, EU's energy and transport commissioner, says the improved network "is a prerequisite to an effective European energy market," while the successful opening of gas and electricity markets "requires a major increase in interconnections between national networks."