Airlines recently have suffered financial losses because of high fuel costs, low fares, and other problems, but terrorism and a flagging economy apparently haven’t yet reduced the number of passengers.
The US Congress deserves credit for its concern about those federal offshore oil and gas leases that lack price thresholds for deepwater royalty relief.
The expiring October natural gas contract dropped to a near 4-year low on the New York Mercantile Exchange during the last week of September, while crude prices continued to fluctuate as traders speculated whether the Organization of Petroleum Exporting Countries might soon cut production.
To guarantee its oil supply during times of crisis, China is building a national tanker fleet with which it aims to haul nearly three fourths of its oil imports within the next 15 years.
US Senate and House energy leaders headed into the preelection recess pledging to reach a compromise before yearend, but were still divided over Outer Continental Shelf oil and gas leasing reforms.
A dramatic natural gas market recovery following last year’s two major Gulf Coast hurricanes points to higher production and lower prices in the 2006-07 winter heating season, the Natural Gas Supply Association said on Sept. 28.
Iraq lost an estimated $16 billion of potential oil export revenues from January 2004 to March 2006 because of insurgent attacks, criminal activity, and aging and poorly maintained infrastructure, an audit report by the US special inspector general for Iraq reconstruction said.
The news from Nigeria’s oil and gas industry is not encouraging. It’s that recurring problem of militants besieging the place again, but this time they seem to be ganging up on the industry.
Two US House Government Reform Committee leaders have demanded that the Department of the Interior develop a new plan to recover an estimated $2 billion of lost royalties from deepwater Gulf of Mexico leases issued in 1998 and 1999.
Newfield Exploration Co., Houston, signed a 15-year agreement with MarkWest Energy Partners LP, Denver, to construct and operate gas gathering pipelines and related facilities for development of Newfield’s Devonian Woodford shale play in the Arkoma basin of southeastern Oklahoma.
A new emphasis on natural gas in Brazilian exploration and production licensing drew criticism during a Rio Oil & Gas panel discussion in Rio de Janeiro.
A new core area for future appraisal and potential development is emerging in the central part of Menzel Ledjmet Block 405b in eastern Algeria’s Berkine basin, said operator First Calgary Petroleums Ltd., Calgary.
Three projects progressively modified gas compression on the UK Brent field to lower suction pressures in-line with late life reservoir and production requirements for depressurizing the field.
External corrosion direct assessment (ECDA) can serve as a powerful tool in determining not only the current but also the future health of a given pipeline system.
