Energy commodity prices fell Feb. 14-15 as traders in the New York market focused on a smaller-than-expected drawdown of US distillate stocks but shrugged off a near-record withdrawal of natural gas from US underground storage during the coldest week of this winter.
Public and government emphasis on renewable and other alternative energy resources was a frequent topic of discussion during the opening session of the annual world energy conference in Houston hosted by Cambridge Energy Research Associates.
The challenges of satisfying world energy demand require substantial, sustained investments, US Sec. of Energy Samuel W. Bodman told an annual executive conference in Houston sponsored by Cambridge Energy Research Associates.
Production of oil and natural gas from the UK Continental Shelf fell by 9% to 2.95 million boe/d in 2006 compared with 2005 because of technical and commercial difficulties, according to a survey by the UK Offshore Operators’ Association.
An exploration and production contract inked Feb. 5 by Petroleo Brasileiro SA (Petrobras) with Senegal for the exploration of two blocks means that the Brazilian state-owned firm now operates in five African countries: Angola, Libya, Tanzania, Equatorial Guinea, and Nigeria.
While safety has been uppermost in the minds of drilling industry personnel for years, the industry’s safety performance has been relatively flat in recent years, according to statistics tracked by the International Association of Drilling Contractors (IADC).