The letter “Peak-oil context” by Michael Lynch correctly points out that large additional reserves continue to be added to the world’s capacity, despite statements that the “elephants” have all been found.
It’s March. Gasoline demand is weak, and inventories of the fuel are comfortable with higher imports, but the price is close to $1/gal higher than it was this time last year.
Congressional oil-price inquisitions target the wrong people. Government officials, not oil-company executives, should have to answer for zooming prices.
For seven sessions Mar. 5-13, the front-month crude contract consecutively set record high prices on the New York Mercantile Exchange as the US dollar fell to record lows vs. the euro and a 12-year low against the Japanese yen.
Interest in Fischer-Tropsch (F-T) chemistry and associated technologies such as gas-to-liquids (GTL) and coal-to-liquids (CTL) continues to grow worldwide.
The US Senate voted Mar. 13 to extend moratoria on federal oil and gas leasing on most of the Outer Continental Shelf as well as on developing oil shale resources.
Several coastal states have used the congressionally imposed federal leasing moratorium for about 30 years to keep oil and gas activity away from their shores.
Two leading Democrats on the US House Energy and Commerce Committee announced an investigation into the US Department of Justice’s Oct. 22 plea agreement with BP concerning the company’s violations of federal Clean Air Act provisions.
The total transaction value for worldwide upstream corporate and asset deals slipped to $154 billion in 2007 compared with $166 billion in 2006, consultants said in an annual report.
Valero Energy Corp. is conducting a “strategic alternative review” of three of its refineries in an effort to possibly sell them, according to Chief Executive Officer Bill Klesse.
Two federal sales of offshore oil and natural gas leases in the eastern and central planning areas of the Gulf of Mexico have attracted a total of more than $3.7 billion in apparent high bids.
An Upper Devonian shale gas play, emerging the past 2-3 years in remote northern Northeast British Columbia, has the potential to become one of North America’s larger gas fields.
Gastem Inc., Montreal, took a farmout from Utica Energy LLC, private New York operator, to drill one horizontal and five vertical wells in New York state by Jan. 16, 2009.
To produce the heavy oil from the JUB-6 well in the Jubarte field off Brazil, Petrobras decided to install the highest horsepower electric submersible pump (ESP) yet installed subsea.
StatoilHydro Angola conducted an assay of the Mondo crude, which is part of the Kizomba C development that started production in January 2008, off Angola.
Preventing black powder contamination from damaging a gas pipeline’s metering system requires regular dismantling and cleaning of its metering instruments, manifolds, impulse lines, and associated facilities.
