The present news and government-sponsored furor about global warming has ignored all facts that do not follow their desires blindly (OGJ, May 5, 2008, Newsletter).
The July contract for benchmark US light, sweet crudes traded above $135/bbl on the New York Mercantile Exchange just prior to the May 26 Memorial Day holiday that marked the unofficial start of the summer driving season in the US.
Record-high worldwide oil prices and strong natural gas prices drove oil and gas company earnings in the first quarter of 2008, but weak downstream margins weighed on profits.
The Indonesian government, reportedly registering a protest at high global oil prices, has decided to terminate its membership in the Organization of Petroleum Exporting Countries, effective yearend.
Indonesia’s decision to leave the Organization of Petroleum Exporting Countries is thought to have been a long time in coming, and due to its inability to cast much influence over the group (see story, p. 22).
The Australian government may use the $2.5 billion (Aus.) gained over the next 4 years from the imposition of excise taxes on North West Shelf condensate production to pay for a new round of assistance to get other struggling multibillion dollar gas project proposals off the ground (OGJ Online, May 14, 2008).
The national energy and environmental debate will need to widen notably if it intends to create necessary dramatic changes, said speakers at a leading energy conference May 19-20.
It’s not often that a message from a break-out session at a financial service company’s energy conference is dramatically illustrated within a few days.
Record high crude oil and gasoline prices may be starting a transition to clean fuels from renewable and alternative resources, energy advisors from the three leading US presidential campaigns said.
US onshore public lands contain an estimated 31 billion bbl of crude oil and 231 tcf of natural gas, reported the US Bureau of Land Management in its latest inventory.
Sembcorp Marine Inc.’s Jurong shipyard delivered the Raroa floating production, storage, and offloading (FPSO) vessel to Tanker Pacific Offshore Terminals Pte. Ltd. in early April 2008.
Congress could take a decisive step to reduce energy prices by lifting some or all of the oil and gas exploration and production restrictions it has imposed, Shell Oil Co. Pres. John D. Hofmeister told a US House committee May 22.
The polar bear will be listed as a threatened species under the federal Endangered Species Act (ESA), announced US Interior Secretary Dirk A. Kempthorne on May 14.
US House Republicans announced a legislative package on May 22 to increase domestic oil and gas production, encourage construction of new oil refineries, and facilitate coal-to-liquids research and oil shale development.
Houston-based Southwestern Energy Production Co. is drilling a four-state portfolio after forming its own drilling company and building a new fleet of rigs.
A recent prefeasibility study explored wood waste-to-ethanol as a significant, ready source of second-generation biofuels, as well as the opportunities for refiners and marketers to participate with pulp and paper mills in these biofuels projects.
