The US Securities and Exchange Commission's system for reporting oil and natural gas reserves needs to be modernized to accurately describe existing asset values, Cambridge Energy Research Associates said in a recent report.
China is planning to boost its refining and petrochemical capacities ahead of the completion of a Kazakhstan-China pipeline and amid reports that Kazakhstan will substantially increase its production of oil, condensate, and natural gas in the coming year.
In the coming era of high and volatile oil prices, the major winners will be the Persian Gulf producers and providers of alternate energy supplies and conservation technologies to the developed world, particularly in the transport sector.
On a daily basis, OGJ editors receive many phone calls and e-mails from readers asking industry-related questions. The questions can range from the easily answerable to those that would require a week’s research.
A concern we have heard repeatedly as the first seven parts of this lean energy management series have circulated through energy companies is, "We seem to have many but not all of the lean principles and processes you write about. What should we do next to close the loop?"
In August 2004, Beeville-based Dan A. Hughes Co. pumped a large hydraulic fracture job in the prolific Barnett shale of North Texas. The Barnett is a tight shale that is the source for the largest gas field in Texas. It consists of an upper section and a thicker lower section with five lobes: A, B, C, D, and E.
Low-voltage air circuit breakers are one component in the power distribution system that will improve reliability and safety on the P-50 floating production, storage, and offloading (FPSO) vessel off Brazil, according to Siemens AG, the manufacturer of the breakers.
New flow sensors, successfully tested on several California wells, can lower the cost of monitoring marginal oil wells, according to the US Department of Energy's (DOE's) National Energy Technology Laboratory (NETL).
In 2003, Citgo Asphalt Refining Co.'s (CARCO) Savannah, Ga., refinery completed a revamp of its No. 1 crude unit that increased asphalt yield by 2% on whole crude, depending on asphalt grade produced. Asphalt is the main product with all other products sold as refinery intermediate feedstocks.
In 2002, Petro-Canada issued a challenge to its refining and supply organization to add $150 million (Can.) of profits, and do it in 9 months with little or no capital. They referred to this task the Q1 Project.
Petro-Canada's Montreal refinery is complex for a relatively small plant. The 105,000-b/cd refinery is configured with parallel processing units. The design and complexity of this refinery significantly complicates the task of setting staffing targets.