The article "New incentives move Alaskan gas line toward negotiation" quotes David T. Lupia, a corporate financial advisor, saying that the northern route of the gas pipeline "Uwould be much more economical," apparently than the southern route along the existing pipeline right-of-way (OGJ, Nov. 1, 2004, p. 26).
After plummeting more than $7/bbl through the previous week, crude futures prices went into a seesaw mode Dec. 6-8, up one day and down the next as markets reacted to changing factors.
Exploration history is such that the largest fields in a given basin tend to be discovered early in the exploration cycle, but this has not been the case in Algeria's Ghadames basin.
Anyone complacent about supply of ultralow-sulfur diesel fuel, requirements for which begin in mid-2006, should read the National Petroleum Council's report to the US energy secretary on refining issues.
Production incentives could help push Gulf of Mexico oil production to 2.5 million b/d by 2011—with almost 80% coming from deepwater wells—from the current 1.5 million b/d, US Department of the Interior and Minerals Management Service officials said Nov. 15.
US refiners should be able to make the mandated transition to lower-sulfur gasoline and heating oil by mid-2006 without significant problems, the National Petroleum Council's Committee on Refining and Inventory said.
Unprecedented reserves writedowns in 2004 have brought unwelcome attention to the oil and gas industry, leading to questions about the integrity of its participants, said Ron Harrell, chairman and CEO of Ryder Scott Co. LP, at a Nov. 18 meeting in Houston.
Dansk Olie & Naturagas AS (DONG) plans to acquire BP PLC's 10.34% stake in Ormen Lange gas and condensate field on the Norwegian continental shelf for $1.2 billion.
India's developing economy implies a spur in demand for new sources of energy, and coalbed methane is being pursued to supplement the gas supply and partially cover demand.
Technological challenges still confront any rapid development of coalbed methane (CBM) production in China, although many basins appear to be prospective.
A novel dry-docking operation began last month in Mexico, following the loading of the 11,220-tonne semisubmersible rig Mata Redonda on the main deck of the Zhong Ren 3 semisubmersible heavy lift barge (see photo).
Replacing conventional valve trays with high-capacity trays in six demethanizer columns at Saudi Aramco's Shedgum and 'Uthmaniyah gas plants eliminated a liquid load restriction in the column top section.
Charter rates for oil tankers have hit historic highs around the globe, with Asian and European shippers reporting surges of income largely due to increased purchases of crude on the world's spot market (see sidebar).
In only the last few weeks, while an earlier analysis of tanker rates was being prepared for publication and being published ("Higher transport costs drive demand for derivatives," OGJ, Nov. 22, 2004, p. 62), tanker rates have reached the highest they have been since the spikes of the early 1970s, that is, before the oil crises (see chart).
The Papua New Guinea-to-Queensland natural gas pipeline project—now referred to as the Highlands Gas Project—has moved forward to its front-end engineering and design (FEED) phase following two conditional agreements signed recently for the sale of gas in Australia.
