Lloyd N. Unsell, who rose from reporting for a small Oklahoma newspaper to become one of the US oil and gas industry’s most influential leaders in Washington, DC, as president of the Independent Petroleum Association of America, died on Apr. 7. He was 84.
Members of the Organization of Petroleum Exporting Countries, led by Angola and Saudi Arabia, will increase total capacity to produce crude oil this year and next by a net 2.6 million b/d.
The Organization of Petroleum Exporting Countries, while seeking security of demand, is fully committed to a continuous supply of oil on the international market, according to the group’s president.
Three main challenges facing the oil industry-stable and reasonable prices, security of both demand and supply, and the relationship between national oil companies (NOCs) and international oil companies (IOCs)-were the predominant themes of the 8th International Oil Summit held Apr. 5 in Paris.
Iran’s First Vice-President Parviz Davudi last week said that his country would do its level best to prepare a proper ground free from tension for attraction of foreign investment in the oil, gas, and petrochemical industries.
Deepwater royalty relief will cost the US government billions of dollars, but uncertainty about prices and production levels make precise estimates impossible at this time, the Government Accountability Office said in an Apr. 12 report.
Enhanced oil recovery is merely the first step in a national effort to capture and store or reuse industrially produced carbon dioxide, witnesses told the US Senate Energy and Natural Resources Committee on Apr. 16.
Steady increases in offshore oil and gas production will drive up industry’s annual spending to more than $275 billion by 2011 from $219 billion in 2006, according to a forecast published by Douglas-Westwood and Energyfiles.
The most important trend in energy production over the last two centuries is decarbonization, a trend that will see methane overtake oil and coal to become the next two generation’s primary fuel, said Jesse Ausubel, director of Rockefeller University’s Program for the Human Environment.
The world is consuming oil at a rate that will result in oil production peaking in 15 to 25 years, a group of geoscientists told the American Association of Petroleum Geologists’ annual convention in Long Beach, Calif.
Tullow Oil PLC, London, said it has reached agreement to sell to Japan’s Itochu Corp. a 20% interest in its Republic of Namibia Production License No. 001, which contains giant Kudu gas field, off Namibia.
Brooks Range Petroleum Corp. (BRPC), operator of the ADL 47468 lease on Alaska’s North Slope, has made an apparent discovery with one of two wells in the Gwydyr Bay Prospect Area.
IPR Inc., Irving, Tex., and ONGC Videsh Ltd. (OVL), Mumbai, have made an oil discovery with the first exploration well on the North Ramadan concession in the Gulf of Suez.
Running extra-long intelligent bottomhole assemblies (BHAs) reduced rig time for completing wells in the ultradeepwater Independence project in the eastern Gulf of Mexico.
To satisfy demand for new lifting capacity for offshore decommissioning and installation, MPU Offshore Lift ASA in July will begin construction of a concrete hull vessel at the Keppel Verolme dry-dock in Rotterdam.
In this article, we have updated and extended the refinery investment cost curves presented in Gary and Handwerk’s “Petroleum Refining: Technology and Economics.
The 20-in. steel catenary riser, connecting the Independence Hub (IHUB) production platform to the Independence Trail natural gas export pipeline, ranks as the largest and deepest such riser ever installed.
