China seeks oil security with new tanker fleet
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.
OCS compromise eludes US Congress energy leaders
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.
NGSA forecasts higher gas production this winter
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.
US estimates Iraq lost $16 billion in oil revenues
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.
WATCHING THE WORLD: Nigerian oil in jeopardy
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.
Lawmakers urge MMS to aggressivelyrecover royalties
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.