The International Energy Agency recently raised its projected growth of world demand for oil products by 160,000 b/d in the second quarter, with expected total demand growth “broadly unchanged” at 1.24 million b/d for 2006 as a whole.
China, India, and Russia will be pivotal to a “new energy security paradigm” outlined in a recent study by the World Economic Forum (WEF) in partnership with Cambridge Energy Research Associates (CERA).
Saudi Arabia plans to increase its crude oil production to 12 million b/d by the end of 2009, according to Saudi Aramco Pres. and Chief Executive Officer Abdallah S. Jum’ah.
The administration of President George W. Bush would consider sharing new offshore oil and gas revenues with coastal states but is concerned that provisions of a bill now in the House of Representatives would cost the government too much money, a Department of the Interior official told the House Resources Committee on June 14.
A bill that combines elements of the two main US Outer Continental Shelf leasing proposals has been developed by the House Resources Committee, Chairman Richard Pombo (R-Calif.) said June 19.
The worldwide supply and demand balance for oil has become so precarious that even small acts of sabotage and local insurrection can affect prices, former Federal Reserve Chairman Alan Greenspan told a US Senate committee earlier this month.
Disruptions to supplies of gasoline, diesel fuel, and light products, associated in part with changes in fuel quality standards, will keep oil markets tight and prices high during the next 2 years, Cambridge Energy Research Associates forecast in a report issued June 6.
In a market growing faster than had been expected, LNG will meet 15% of global gas demand by 2012, says an analysis by Cambridge Energy Research Associates.
This is the second of two parts on the geology and potential of the Hopedale basin off Labrador, site of several gas-condensate discoveries in the 1970s-80s on the shelf.
A combination of analytical and numerical methods shows that the application of a pseudosteady-state solution to a steady-state problem invariably overpredicts the dimensionless productivity index (JD) and the benefits of hydraulic fracturing.
Adelaide-based Santos Ltd. plans to spend $160 million (Aus.) to drill 100 wells in the Cooper and Eromanga basins in its new oil exploitation program.
Declining natural gas production in Canada and the US in 2005 combined with robust growth elsewhere in the world to tip the balance of worldwide gas processing activity away from its historic center for the first time.
Expansion of the global LPG industry has been faster than most other energy markets and will accelerate during the next few years as new LNG projects start up in many regions.
Increasing the maximum allowable operating pressure of US gas transmission pipelines requires careful consideration and must be done on a case-by-case basis.
