Global oil, gas outlook bright; US gas production nears plateau
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.
Prompt passage of federal pipeline safety bill urged
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.
FERC grants first market-based gas storage rates request
The Federal Energy Regulatory Commission on Nov. 16 granted an interstate natural gas storage operator market-based rates for the first time.
Venture seeks better seismic imaging of deep prospects
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.
CERA study: Oil production to track ‘undulating plateau’
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).
Republican group opposes broad OCS reform bill
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).
Senate Democrats signal climate-change push
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.
COMPANY NEWS: Gazprom gets 51% of new JV with Lukoil
OAO Lukoil Holdings ceded control of a joint venture for new projects to state-controlled OAO Gazprom’s oil subsidiary, Gazprom Neft.
WATCHING THE WORLD: A new desert energy source
“He had been eight years upon a project for extracting sunbeams out of cucumbers...”