Two of Houston’s major industries—medicine and oil and gas—surprisingly have discovered many similarities in the technologies they use and the challenges they face.
The front-month crude futures contract fell $3.45 to $91.17/bbl Nov. 13 on the New York Mercantile Exchange, the lowest level in nearly 2 weeks, after the International Energy Agency (IEA) in Paris reduced its estimates of global oil demand for the fourth quarter through 2008.
The rapid increase in ethanol consumption during 2002-06 will prove to have been a one-time event that captured two thirds of the ultimate near-term market.
The peak oil issue is essentially a race between resource depletion and the continuing development of technology, according to industry and academic experts at the third annual conference by the Association for the Study of Peak Oil (ASPO) in Houston Oct. 17-20.
The US Commodity Futures Trading Commission has requested oversight authority over some contracts and products in unregulated electronic trading venues known as exempt commercial markets (ECMs).
Many members of Congress already were upset over the absence of price thresholds from federal deepwater leases issued in 1998 and 1999 under which royalties were not paid.
Calling it “another priority that Congress has failed to meet,” US President George W. Bush criticized federal lawmakers on Nov. 13 for failing to act on energy proposals he outlined in his State of the Union address on Jan. 23.
Forty-three US senators, including five Republicans and one independent, asked US President George W. Bush what steps the administration will take to recover several billion dollars of apparently lost federal deepwater offshore royalties.
If you think we are the only ones who are concerned about the negative effects that Venezuelan President Hugo Chavez is having on the oil industry, think again.
Ecuador has resumed its membership in the Organization of Petroleum Exporting Countries, which it left in 1992, with the arrival of President Rafael Correa at a summit of the group’s leaders in Saudi Arabia.
Oil and gas industry interest in searching for additional production potential throughout the Black Sea region has been on the increase for several years.
EnCana Corp., Calgary, said it concluded its Columbia River basin exploration program in south-central Washington without establishing commercial gas flow rates.
Consistent practical methods for defining equipment qualification and testing requirements can improve subsea equipment reliability and facilitate project execution.
Laboratory experiments and observation of pit growth rates in six operating fields have yielded a model to predict internal pitting corrosion of oil and gas pipelines.
Risks and burdens of joint-venture pipeline projects need to be managed and mitigated with fully termed project agreements addressing the potential problems involved in pursuing a project with partners.
