SPECIAL REPORT: Oil production, reserves increase slightly in 2006
Worldwide oil and gas reserves rose in 2006 as oil production posted a small increase from a year earlier, according to Oil & Gas Journal’s annual worldwide survey of production and reserves.
E&P activity, refining drive third-quarter earnings
Although most companies in a sample of US-based oil and gas firms posted moderate third-quarter 2006 profits or losses, big earnings gains by a handful of large operators propelled the group toward an increase in net income as compared with third-quarter earnings a year earlier.
Senate’s OCS bill clears Congress, heads to White House
Working through the night, the US Senate approved a legislative package including its OCS leasing reform bill early Dec. 9 and sent it to the White House for President George W. Bush’s signature.
WATCHING GOVERNMENT: Programs aim at gas flares
Critics may consider the idea of environmentally aware oil and gas producers an oxymoron.
US Senate follows House, approves pipeline safety bill
The US Senate passed an amended pipeline safety bill by voice vote on Dec. 7, following House passage of the measure on a similarly expedited basis (OGJ Online, Dec. 7, 2006). HR 5782 now heads to the White House, where President George W. Bush is expected to sign it.
WATCHING THE WORLD: Food costs fuel concern
We never imagined-never for a minute-that Chinese officials would react so swiftly to our comment last week about the increasing use of biofuels and the upward pressure that puts on food costs, particularly grains.
Existing state laws, regulations urged for CO2 storage
Existing state gas-storage statutes and regulatory frameworks should govern future carbon capture and storage (CCS) projects, says an Interstate Oil & Gas Compact Commission task force leader.
DOE: ‘Microhole’ coiled tubing drilling holds promise
A federally funded technology that could change the way oil and gas wells are drilled was successfully demonstrated in the US Midcontinent, the US Department of Energy said.
Gazprom seeks role in US LNG market
Russia’s OAO Gazprom hopes to become a “serious player” in the US LNG market, said Deputy Chairman Alexander Medvedev.