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SPECIAL REPORT: WoodMac: Arctic has less oil than earlier estimated
The entire international Arctic region contains “much less” potential petroleum resources, with a mix of more natural gas, than previously estimated, according to a joint study released Nov. 1 by Wood Mackenzie Ltd., Edinburgh, and Fugro Robertson, part of the Fugro group of companies based in the Netherlands.
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Hurricanes spotlight jack up design, placements
The storm magnitudes of Hurricanes Katrina and Rita exceeded the design criteria of most of the jack up rigs caught in their paths through the central Gulf of Mexico, said industry experts at a recent Houston workshop sponsored by the International Association of Drilling Contractors.
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Gas Summit analyzes European Union gas supply-demand issues
Two new features this year marked the 11th Gas Summit held Oct. 26-27 in Paris and organized by Pétrostrategies consultant and publisher, Institut Français du Pétrole, oil and gas consultants SPTEC, and Poten & Partners Inc.
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UKOOA urges tax change to boost UKCS production
The UK government must change the fiscal regime to ensure production of the 27 billion bbl of oil and gas equivalent that might be recoverable from the UK Continental Shelf (UKCS), Malcolm Webb, chief executive of the UK Offshore Operators’ Association (UKOOA), said Nov. 7.
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UKOOA: Skills shortage worries UK oil industry
An acute lack of skilled engineers and technologists is threatening the development of the UK Continental Shelf (UKCS), speakers warned Nov. 7 at the UK Offshore Operators’ Association (UKOOA) industry conference in Aberdeen.
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Foreign oil firms agree to Bolivia’s contract terms
Bolivian President Evo Morales claimed a victory Oct. 29 when key foreign energy companies agreed to remain in Bolivia, operate under state control, and cede larger shares of profits to the government.
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Chavez again threatens to stop oil exports to US
Venezuelan President Hugo Chavez has threatened to cut oil sales to the US if it does not recognize the results of Venezuela’s December presidential election or if irregularities mar the vote, or state oil company Petroleos de Venezuela SA (PDVSA) faces “destabilizing” actions.
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DOJ, SEC probe Bonny Island partners for violations
The US Department of Justice and the Securities and Exchange Commission are formally investigating whether a joint venture in which Halliburton Co. has a 25% interest played a role in alleged bribes of Nigerian government officials, the oil field services and engineering and construction company disclosed on Oct. 31.
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Louisiana, MMS reach settlement in lease sale lawsuit
Louisiana Gov. Kathleen Babineaux Blanco said attorneys for the state have negotiated a settlement in a lawsuit against the US Minerals Management Service, and the settlement would delay Lease Sale 201.
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API: US well completions broke records during 3Q
US oil and gas drilling reached its highest quarterly level in more than 20 years with an estimated 12,687 completions in the 3 months ended Sept. 30, the American Petroleum Institute said on Oct. 19.
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NPRA’s Slaughter: ‘Biofuels are not the answer’
Biofuels are not the answer to US energy supply problems, said the president of the National Petrochemical & Refiners Association at a management forum in Houston.
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WATCHING THE WORLD: Saudi Aramco looking east
Situated in a relatively quiet corner of Southeast Asia, Malaysia tends to be overlooked by some oil and gas analysts.
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EPA proposes further gasoline vapor controls
The US Environmental Protection Agency wants to expand, to nationwide locations, its air toxic standards designed to prevent gasoline spills and evaporation at urban distribution facilities.
