Energy markets were slow to show confidence that members of the Organization of Petroleum Exporting Countries would follow through on an agreement to reduce production by Nov. 1.
Years of budget reductions contributed to conditions leading up to the Mar. 23, 2005, explosion at BP America Inc.’s 460,000-b/d Texas City, Tex., refinery, which killed 15 workers and injured 180 others, the US Chemical Safety Board said Oct. 30.
The Organization of Petroleum Exporting Countries, whose members regularly call for stable oil markets, actually has been the greatest source of recent price volatility, a US congressional committee charged on Oct. 31.
Shell Oil Co. Pres. John D. Hofmeister called for a broadly based US energy strategy that pursues every option from increased access to potential oil and gas resources to increasing energy efficiency and developing alternate fuels.
ExxonMobil Corp. proposed to pay the state of Alaska $20 million and to relinquish 20,000 acres to resolve unmet obligations to develop the 106,200 acre Point Thomson Unit (PTU) gas-condensate leaseholding on Alaska’s North Slope.
Gross production from Southwestern Energy Co.’s wells in the eastern Arkoma basin Fayetteville shale play has grown to 70 MMcfd and looks to attain 100 MMcfd by the end of 2006, the company said.
A new government study provides a unique, national survey of off site commercial disposal practices, methods, and costs in the major oil and gas producing states of the US.
A site-specific, risk-based improvement plan for driving lowered the automotive accidents rates and associated losses for a service company’s Qatar oil field operations.
Since January 2006, US gas plants have enjoyed record high profit margins. Furthermore, propane prices in all regional markets have been strong enough to encourage refineries to maximize sales into the merchant market.
Today’s oil and gas industry focuses mainly on production. After all, without production, refining, transportation, and distribution of fossil fuels, the industry comes to a halt.
