While the total amount of energy required to meet the demand of the 25 European Union countries in 2005 remained the same as in 2004 at 1,637 million tonnes of oil equivalent (toe), a 4.5% fall in EU energy production from all sources pushed up its dependence on imports to 56% from 54%, according to Eurostat, the EU’s statistical office, in its first 2005 estimates.
After Covenant field in Sevier County, Utah, which opened oil production on the Central Utah thrust belt, where will explorers discover the next potentially giant oil or gas field in the US Lower 48?
The US oil and gas industry can improve both its standing with a hostile public and energy policy by seeking reform in an area not directly related to energy: tax policy.
The October contract for benchmark US light, sweet crudes fell $2.14 to $61.66/bbl Sept. 19, the lowest closing since Mar. 21 and the largest 1-day price drop since May 15 for a front-month contract on the New York Mercantile Exchange.
A set of techniques known as vector seismics has migrated from research to practice, changing how geophysicists study the subsurface and improving information about the physical characteristics of oil and gas reservoirs.
The US Environmental Protection Agency announced new air quality standards on Sept. 21 that would reduce daily allowable fine particulate matter levels by almost 50%.
Holders of deepwater Gulf of Mexico leases issued in 1998 and 1999 probably would be required to pay royalties starting with the date they agreed to amended terms, US Minerals Management Service Director Johnnie Burton said.
The National Petrochemical & Refiners Association praised US House and Senate conferees on Sept. 26 for giving the Department of Homeland Security authority to regulate certain high-risk chemical plants.
It’s not a foregone conclusion. But it is possible that the Democrats will regain control of at least the US House of Representatives in November’s election.
Venezuelan and Iranian officials on Sept. 17 signed a series of accords, including deals to develop oil fields, build factories, and set up a $2 billion investment fund to finance the projects.
Russia’s Ministry of Natural Resources (MNR), citing inadequate environmental safeguards, effectively decided Sept. 18 to suspend the Sakhalin-2 oil and gas development project.
No one would actually accuse Russia of backtracking, but last week its minister of natural resources said his country had no intention of removing an operating license from Royal Dutch Shell PLC for the Sakhalin-2 development project.
Bolivia Vice-President Alvaro Garcia Linera, acting as the nation’s head while President Evo Morales is traveling abroad, told foreign oil companies operating in Bolivia that they have until Oct. 28 to agree to new contracts nationalizing the country’s oil and gas industry
Heavy investment in Brazil’s natural gas industry by state-owned Petroleo Brasileiro SA (Petrobras) is resulting in a growing use of gas in the country’s energy mix, particularly in gas-fired thermoelectric plants.
Oil and gas companies’ global upstream spending climbed to $277 billion in 2005, up 31% from 2004, said the latest annual review of upstream performance by John S. Herold Inc. and Harrison Lovegrove & Co. Ltd.
Within the context of record high exploration costs and the increasing difficulty in finding large hydrocarbon deposits, exploration companies face even more pressure to reduce risk to deliver results.
Total E&P UK PLC recently used riserless mud recovery (RMR) technology in a dual-gradient, top-hole drilling system to drill a well on the Jura West 3/15-10 prospect.
Gasunie has utilized external corrosion direct assessment (ECDA) as proposed by the National Association of Corrosion Engineers (NACE) as a valuable method of assessing the corrosion threat in unpiggable pipelines.
