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Accenture: NOCs transforming energy relationships
Models of cooperation between national oil companies (NOCs) and international oil companies (IOCs) are changing, according to an Accenture report.
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Al-Naimi: Oil industry needs better data to plan growth
The oil industry’s lack of knowledge about current world demand for crude and its subsequent growth “is probably the weakest link in our efforts to understand the future,” said Ali I. al-Naimi, Saudi Arabia’s oil minister, in his opening address to the Cambridge Energy Research Associates annual energy conference Feb. 7 in Houston.
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Cedigaz official warns of price effects on gas demand
The “destructive impact” of up-spiraling prices could slow world demand for natural gas, especially LNG, cautioned Marie-Françoise Chabrelie, Secretary General of Paris-based Cedigaz, in her presentation at the Institut Français du Pétrole’s annual Panorama in Paris Feb. 2.
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CERA: SEC should use SPE reserves definitions
Cambridge Energy Research Associates recommends that the US Securities and Exchange Commission rely on Society of Petroleum Engineers (SPE) methods for oil and gas reserves definitions.
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Editorial: The Chadian experiment
The Chadian experiment is faltering. Landlocked, poor, and fractiously governed, Chad was supposed to refute the paradox economists call “the resource curse.
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Cold weather cutting Russian natural gas exports
A further drop in Russian exports of natural gas to Europe is expected due to severely cold weather, according to a Jan. 20 statement from East European Gas Analysis, Malvern, Pa.
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Europe depicted as still a gas market ‘patchwork’
Despite gas-market deregulation, Europe remains “a patchwork of markets, each retaining its own gas-use specificities,” a Cedigaz official told Institut Français du Pétrole’s annual Panorama conference in Paris.
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Indonesia seen unlikely to meet oil output target
Indonesia is unlikely to raise its planned output to 1.3 million b/d of crude oil by 2009 due to the lack of exploration and development, according to Cyril Noerhadi, finance director of Indonesian oil and gas company PT Medco Energi Internasional.
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IPAA, NPRA chiefs respond to Bush energy proposals
The US should not overlook its oil and gas resources as it tries to develop energy alternatives, two trade association executives said in response to the energy research initiative President George W. Bush announced in his Jan. 31 state of the union address.
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MSRC helps oil companies handle destructive hurricanes
The Marine Spill Response Corp. (MSRC), which moved massive volumes of equipment to help oil and gas producers and pipeline companies restore operations after two 100-year storms ripped through the Gulf Coast last year, is preparing for a repeat performance.
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Senators told oil industry competitive despite mergers
Most US petroleum industry sectors remain unconcentrated or lightly concentrated despite mergers that have occurred in the last 20 years, a Federal Trade Commission member told the Senate Judiciary Committee on Feb. 1.
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Senators promise eastern Gulf of Mexico leasing bill
Senate energy leaders said they will introduce a bill to finally open Outer Continental Shelf Lease Sale 181 acreage in the eastern Gulf of Mexico to oil and gas development-with military and distance exemptions.
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Survey: UK producers worried by proposed tax changes
Short-term prospects for the UK oil and gas industry remain strong, but proposed changes to the country’s tax policy have heightened industry concerns about the durability of these trends, according to a report by the Aberdeen and Grampian Chamber of Commerce.
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Watching the World: Europe Union seeks biofuels
Saudi Arabia’s Oil Minister Ali I. al-Naimi has dismissed the idea of mandating costly alternatives to oil in the name of a cleaner environment, saying such a move could actually impoverish people and lower living standards.
