No less an authority than the International Energy Agency has renewed its warning about a future of limited fossil energy and more environmental damage from burning too much of it.
The December contract for benchmark US light, sweet crudes plunged to $56.26/bbl, the lowest close for a front-month contract since Nov. 18, 2005, on the New York Mercantile Exchange after the Energy Information Administration reported the injection of 5 bcf of gas into US underground storage during the week ended Nov. 10.
Data for liquids presented in this article suggest that global crude oil, natural gas liquids (NGL), and Alberta oil sands production will plateau at above 118 million b/d and productive capacity at 123 million b/d in 2031-far later than current alarmist predictions-even without the likely development of tar sands and other bitumens and extra-heavy crude.
New federal pipeline safety legislation is overdue and should be passed before the end of the year, witnesses and lawmakers agreed at a Nov. 16 hearing before the Senate Commerce, Science, and Transportation Committee.
A partnership led by Repsol YPF SA has launched a project to apply unprecedented computing power to geophysics to reduce the risk in exploration of deep subsalt prospects under ultradeep water of the Gulf of Mexico.
The “peak oil” theory, stipulating that world oil production will soon peak and sharply decline, is flawed, according to an analysis by Cambridge Energy Research Associates (CERA).
If an Outer Continental Shelf leasing reform bill comes before the full House during the lame-duck session, it should be S. 3711 and not the broader HR 4761, 18 House Republicans told Majority Leader John Boehner (R-Ohio).
Three incoming Senate committee chairmen have asked President George W. Bush to commit to working with the new Congress in passing aggressive climate change legislation in 2007.
Gas production from the eastern Gulf of Mexico will start in 2007 from 10 deepwater fields tied into a floating central processing facility, Independence Hub, moored in about 8,000 ft of water.
In the last decade, offshore operators have developed and refined an emergency response system with standardized format and nomenclature for dynamically positioned drilling operations.
After experiencing strong growth in 2004, the Asia-Pacific region’s oil demand growth slowed in 2005, particularly during the second half of the year, according to a July 2006 study from FACTS Inc., Honolulu.
This concluding part of an article exploring a model for reducing statistical uncertainty when pooling pipeline data applies Part 1’s methodology to actual pipeline-failure data compiled by the US Office of Pipeline Safety (OPS) 1994-2005.
The deep geologic horizons of the shallow-water Gulf of Mexico Outer Continental Shelf offer the best near-term opportunity for increasing US natural gas production.