Companies take steps to avoid bribe hazards
Risks inherent in multibillion-dollar overseas oil and gas deals include the chances of violating the US Foreign Corrupt Practices Act (FCPA).
PHMSA chief wants review of pipeline inspection intervals
The top oil and gas pipeline regulator in the US wants operators to use inspection programs that do the best job of determining their systems’ condition.
IOGCC: US petroleum workforce size increasing
Government and industry are making progress in increasing the number of qualified petroleum professionals in the US, says the Interstate Oil & Gas Compact Commission in a new report.
WATCHING GOVERNMENT: Republicans challenge IG
US Department of the Interior Insp. Gen. Earl E. Devaney intended to mention reforms that have been implemented as well as problems he has identified at DOI when he came before the House Natural Resources Committee on Feb. 16.
IFP: Oil, natural gas prices to remain high for 2007-08
Oil prices should remain at the $50-55/bbl level over this year and possibly part of 2008, interspersed with periods of tension, and thereafter continue to rise on the back of strong demand, constrained supply, and continuing refining tensions, reported Institut Français du Pétrole (IFP) in its 2007 Panorama presented in Paris last month.
DOJ fines Vetco units record $26 million in FCPA case
Three Vetco International Ltd. subsidiaries pled guilty to violating antibribery provisions of the Foreign Corrupt Practices Act and agreed to pay $26 million-the largest criminal fine in an FCPA prosecution by the US Department of Justice so far, Deputy Atty. Gen. Paul J. McNulty reported Feb. 6.
WATCHING THE WORLD: Japan voices gas concerns
In a meeting with Russian Industry and Energy Minister Viktor Khristenko, Japanese Foreign Minister Taro Aso last week asked Russia to ensure Japan’s supply of LNG from the Sakhalin-2 oil and natural gas project.
S&P’s: Refiners face capacity upgrade challenges
The global refining industry faces the challenges of upgrading its capacity to produce less-polluting fuels while processing increased volumes of poorer-quality crudes, Standard & Poor’s said in a recent special report on fluctuating oil prices.