FACTS: Oil market suffering from investment lull of 1990s
The global oil market is suffering now from a lack of investments in the 1990s when oil prices were low and refining margins poor, said analysts at Fesharaki Associates Consulting & Technical Services Inc. (FACTS), Honolulu.
Gazprom to develop Shtokman alone, pipe gas to Europe
In a surprise move, Russia’s OAO Gazprom announced on Oct. 9 that it will develop giant Shtokman (Shtokmanovskoye) natural gas-condensate field in the Barents Sea without foreign partners and will pipe the gas to Europe rather than convert it to LNG for North American markets as had been planned.
WATCHING GOVERNMENT: Those elusive pass-throughs
Oil and gas prices have fallen more quickly than autumn leaves in the past few weeks, which has helped improve the US economic outlook.
Cavaney: Industry needs to reconcile good with bad
The oil and gas industry faces a huge paradox as executives from its biggest companies gather in Washington, DC, for the American Petroleum Institute’s 2006 annual meeting Oct. 15-16.
WATCHING THE WORLD: Japan exploring methane hydrate
In a bid to move Japan toward energy self-sufficiency, the country’s Ministry of Economy, Trade, and Industry is promoting technologies to provide new fuel sources, among them methane hydrate.
GAO recommends spending limits for SPR fill
The US Department of Energy could have saved about $590 million from late 2001 through 2005 if it had used a steady dollar value of crude oil over time to assure that more purchases were made for the Strategic Petroleum Reserve when prices were low, the Government Accountability Office says.
Congressional panel hears of produced water potential
Water produced with oil and gas can help relieve pressure on surface-water resources, witnesses told a US House Resources subcommittee hearing Sept. 26.