Regular Features
- OGJ Newsletter
  - OGJ Newsletter
    The US refining sector's profit margins and stock prices are apt to see downward pressure in early 2005 because of strong supply levels and lower demand growth, said investment banker Friedman, Billings, Ramsey & Co. Inc., Arlington, Va.
- Journally Speaking
  - More fun with language
    More fun with language This column, which has been called Journally Speaking since the late Henry Ralph invented it in 1948, provokes a great range of response from readers.
- Area Drilling
  - Area Drilling
    Quadra Resources Corp., Calgary, is to drill a second well on the Becerril structure in the Cesar basin, where it drilled an indicated gas discovery in late 2003.
- Equip/Software/Lit
  - Equipment/Software/Literature
    Cyclops is a new software that integrates, manipulates, and visualizes multiple geology and reservoir engineering data sets in a single environment.
- Services/Suppliers
  - Services/Suppliers
    Koon Houston, has elected Ray Koon as a corporate officer and member of the management committee.
- Editor's Perspective
  - Terrorists show Iraqi war central to antiterrorism
    Among all the arguments about the war in Iraq, one of the most divisive rages over this question: Do the ouster of former Iraqi President Saddam Hussein and ensuing combat constitute part of the war against terrorism or a distraction from it?
- Market Journal
  - 2004 ends with volatile oil prices
    Energy prices remained volatile in normally thin trading volumes between Christmas and New Year holidays at the close of 2004.
General Interest
- Editorial - Oil market: 2005
  Will the oil-market strength of 2004 continue through 2005?
- Experts push unconventional gas for future markets
  With markets faced by both rising costs and escalating demand for natural gas, today's unconventional gas resources "cannot remain unconventional," said Raymond C. Pilcher, president of Raven Ridge Resources Inc., Grand Junction, Colo., at a recent 2-day energy conference in Denver.
- Watching Government - Key issues for refiners
  It may have ignited the Senate filibuster that defeated comprehensive energy legislation in 2004.
- Indonesian LNG sector spared harm from tsunami
  Indonesia's LNG industry, spared damage in the devastating Dec. 26 earthquake and tsunami that hit North Sumatra and Aceh, has resumed shipments to Japan and South Korea after making a deal with ExxonMobil Corp. to secure natural gas supplies for local fertilizer producers.
- Southeast Asia oil, gas operations escape damage from tsunami
  Oil and gas operations in Southeast Asia were remarkably unscathed by the tsunamis that hit 11 countries, killing an estimated 150,000 people, following an earthquake Dec. 26.
- Gazprom, Rosneft to finalize merger this month
  The merger of OAO Gazprom and OAO Rosneft is expected to be finalized early this year, and the assets of OAO Yukos unit Yuganskneftegas will not be involved in the initial consolidation as was earlier reported, a Russian official said.
- Oil's terrorist threats
  Osama bin Laden exercises a powerful impact on world oil markets.
- Good year seen for large US oil firms, analyst says
  Fundamentals look strong for US-based, integrated oil and gas companies at the start of 2005, although the firms are unlikely to achieve the record earnings and refining margins of 2004.
- IEA: CO₂ capture, storage offer emissions solution
  Carbon dioxide capture and underground storage could constitute as much as half of the global emissions reduction by 2050, according to the International Energy Agency in the book CO₂ Capture and Storage.
- Talks continue for Pakistan-Iran pipeline megaproject
  Talks are continuing between Pakistan and Iran about the proposed Pak-Iran gas pipeline megaproject.
- Pakistani firm buys tanker
  Pakistan National Shipping Corp. (PNSC) has purchased a fourth Aframax-class oil tanker named M.T. Lalazar for $13.5 million. The 113,881 dwt vessel is the largest ever to join Pakistan's fleet, PNSC officials said.
Special Report
- Gas supply, energy bill on US political agenda
  Natural gas, with its static domestic supplies and rising prices, is the biggest single energy issue in Washington, DC, as 2005 gets under way.
- ANWR leasing gets mixed support from senators, industry
  When Sen. Pete V. Domenici (R-NM), was reelected chairman of the Energy and Natural Resources Committee for the 109th Congress on Jan. 4, the first issue he mentioned was oil and gas leasing of the Arctic National Wildlife Refuge coastal plain.
Exploration & Development
- Large oil discovery reported on North Cuba heavy oil belt
  Cuba appears to have its first oil discovery since 1999, a heavy but lower sulfur accumulation along its northern coast.
- Jamaica launches 26-block offer, lists terms
  The government and Petroleum Corp. of Jamaica, Kingston, launched a licensing round with four onshore and 22 offshore blocks.
- Nexen plans large Yemen program in 2005
  Nexen Inc., Calgary, plans to expand activity on Block 51 in Yemen as part of a company-wide $2.6 billion capital budget, up 27% from 2004 outlays.
- Petrobras exploring southern gulf block off Iran
  Petroleo Brasileiro SA said it started seismic surveys in the 8,000-acre Tusan block in the southern Persian Gulf.
- Arkoma shale gains stature in SWN's 2005 budget
  Southwestern Energy Co., Houston, plans to increase the outlay for its emerging low permeability Mississippian Fayetteville shale play in the Arkoma basin as part of a 24% increase in its 2005 capital budget to $352.7 million.
- Total awaits 'genuine security' to resume operations in Sudan
  Total SA said it will decline to resume operations in southern Sudan "until peace and genuine, lasting security have been restored in the region."
- Gaither, Eurogas eye Tunisian exploration
  Gaither Petroleum Corp., private Houston independent, and Eurogas Corp., Calgary, acquired 350 sq km of 3D seismic data on the Sfax Permit in the Gulf of Gabes northwest of giant Ashtart oil field off Tunisia.
- Canadian firm to assess Mongolia's CBM potential
  Petroleum Authority of Mongolia has signed an exploration contract with Storm Cat Energy Corp., Calgary, to assess coalbed methane potential near Ulaanbaatar.
Drilling & Production
- Compositional model optimizes gas lift
  A simulation with a compositional model, composed of a graphical front end and readily available commercial simulator software, improved the optimization of gas lift in oil wells when compared with commercial software that rely on black oil models.
- ConocoPhillips achieves industry first with rotary-steered casing drilling
  ConocoPhillips, Tesco Corp., and Schlumberger Ltd. successfully tested rotary-steerable casing drilling in South Texas, combining directional drilling technology with casing drilling.
- Wintershall, BJ Services pump warm frac off Holland
  Wintershall Noordzee BV and BJ Services Co. used heated cross-linked fluids in a hydraulic fracturing project off the Netherlands.
Processing
- Improved propane recovery increases refinery profitability
  A case study determined that a refinery can potentially recover approximately 1,500 b/d or $2.6 million/year of additional propane in the saturate gas plant.
Transportation
- New directions in federal pipeline safety program promote continuous improvement
  The new regulatory direction being taken by the Office of Pipeline Safety (OPS) in the Research and Special Programs Administration of the US Department of Transportation has important implications for the inspections process, pipeline operators, and the OPS.
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