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SPECIAL REPORT: Mechanization, collaboration enhance drilling rig safety
Industry has boosted its drilling safety emphasis, particularly in the last decade, through automated equipment innovations and intensified collaboration and commitment toward standard operating procedures among all stakeholders in a given project.
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SPECIAL REPORT: Oil, gas safety statistics mark progress
Safety statistics contradict the general public’s stereotyped image of oil and gas drilling as being a hazardous business, report spokesmen from the American Association of Drilling Engineers and the International Association of Drilling Contractors.
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IHS: Past hurricane damage, disruptions less than expected
Despite massive damage from Hurricanes Katrina and Rita in 2005, the average impact on oil and gas production from hurricanes over a 45-year period was relatively modest, and the disruption of production was typically short-lived, said officials at Engelwood, Colo.-based information firm IHS Inc.
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Lieberman-Warner cloture vote falls short; bill pulled
The US Senate’s long-awaited debate on global climate change ended June 6—not with a bang but with a whimper.
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Senate oil bill cloture vote fails to secure needed majority
The US Senate voted not to take up a bill that would have reimposed a windfall profits tax on major oil companies as Democrats failed to achieve the three-fifths majority necessary to limit debate for a second time in less than a week.
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WATCHING GOVERNMENT: CFTC feeling new pressure
As the US Senate prepared to debate its latest oil tax bill on June 10, many members of Congress opened fire on so-called Big Oil, their target whenever retail gasoline prices soar and voters start to complain.
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IEA again cuts 2008 oil product demand outlook
The International Energy Agency has cut its outlook for 2008 oil product demand to an average 86.8 million b/d, a reduction of 80,000 b/d from the agency’s previous forecast.
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Total: World oil output to reach 95 million b/d by 2020
Worldwide oil production will stabilize at about 95 million b/d before 2020, including extra heavy crude from Venezuela and Canada, said Total SA Chief Executive Officer Christophe de Margerie based on a long-term, internal company oil study, just released.
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Survey shows perceived pros, cons of Alberta oil sands
Both Canadians and Americans consider Alberta oil sands to be a secure oil supply, said results of a Canadian-US survey by Fleishman-Hilliard Inc.
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CO2 emissions policy to affect LNG imports, report says
Potential regulation to tighten carbon dioxide emissions in the US could increase demand for natural gas and pit the US against Europe in a bid to secure future supplies, according to a newly released report.
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WATCHING THE WORLD: Little relief for tankers
Oil tankers plying the high seas are unlikely to benefit much from the recently passed UN Security Council resolution 1816 (200).
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France supporting nuclear power in Italy, France
French President Nicolas Sarkozy said his country is willing to work with Italy on nuclear power as part of a common energy strategy in response to high oil prices.
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COMPANY NEWS: XTO to acquire Hunt Petroleum, Bakken shale acreage
Fort Worth independent XTO Energy Inc. plans to acquire privately held Hunt Petroleum Corp. of Dallas and other associated entities for $4.186 billion in a cash-stock deal.
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PERSONNEL MOVES AND PROMOTIONS: Odum succeeds Hofmeister as Shell Oil president
Marvin E. Odum, executive vice-president, the Americas, for Shell Exploration & Production, has been named to succeed John D. Hofmeister as president of Shell Oil Co. Odum will also retain his current operational role.
