With regard to anxiety about gasoline price “gouging” arising from Hurricane Katrina’s unprecedented disruption of US oil supply, a few observations need to be made.
“Inside the beltway” normally refers to those politicians, bureaucrats, and other interested citizens who work in the US capital, as well as the often insular nature in which they go about their business.
The oil and gas industry should treat seriously the final report of the Independent Inquiry Committee (IIC) investigating the United Nations Oil-for-Food Program in Iraq.
A unit of China National Petroleum Corp. has offered $4.18 billion for PetroKazakhstan Inc., Calgary, and the boards of both companies have approved the offer.
US gasoline markets already were tight when Hurricane Katrina devastated the Gulf Coast, and recovery from the storm’s damage will only moderately relieve the resulting price spike, government and industry leaders told two congressional committees.
Oil and gas production and distribution from the hurricane-ravaged US Gulf Coast will return to nearly normal operation by December, predicts the US Energy Information Administration.
Iraq’s oil future rests in the reestablishment of Iraq National Oil Co. (INOC), which was taken over by the country’s ministry of oil in the late 1980s.
A fifth test on the Pecos Rio Grande prospect in the nonproducing southern Val Verde basin is scheduled for November 2005 by Patterson Petroleum LP, Austin, in conjunction with Beeson Energy Inc., Aledo, Tex.
The Japanese continue to evaluate natural methane hydrates in the Nankai trough, drilling 32 wells through bottom-simulating reflectors (BSRs) during a 2004 research program.
