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Import jolt highlights ironies of Iranian gas
Residents of Iran’s north must surely have experienced chagrin at a visceral level in December 2007 when they froze after Turkmenistan halted natural gas exports to the country.
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McCain promises ‘bold’ energy program, NAFTA support
Speaking June 17 in Houston—“the oil capital of America”—US Sen. John McCain, the apparent Republican nominee for president, endorsed ending federal embargoes of offshore drilling, temporarily removing federal taxes on gasoline, and the increased construction of nuclear plants to help reduce high energy costs.
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WATCHING GOVERNMENT: Real work begins behind the scenes
US Senate rejection of punitive oil taxes and a global climate change bill within days of each other doesn’t mean the ideas are dead; they simply have moved behind the scenes where oil and gas industry lobbyists expect intense negotiations.
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US CFTC unveils new foreign market data pact
The US Commodity Futures Trade Commission improved its access to data on US commodities traded on overseas exchanges as it amended terms under which ICE Futures Europe is permitted direct access to US customers, the CFTC’s top official told a joint hearing of two US Senate committees.
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Alberta to rebut oil sands’ environmental foes
In response to environmental organizations’ opposition to oil sands development, Alberta plans to emphasize the strategic and economic benefits of continuing production, said an official of the Canadian province’s government June 11.
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US oil firms urged to prep for global reporting standards
Oil and gas companies in many countries are preparing to follow International Financial Reporting Standards (IFRS), and at least one major accounting firm is urging US public companies to start their preparations as well.
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Rolling strike delays oil shipping through Marseille port
A rolling strike, which already has halted oil shipping through the Port of Marseille, is set to continue for a further 5 days, according to officials of the state-run port administration.
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Ship guarding Addax facility off Nigeria attacked
Even as Royal Dutch Shell PLC announced a continuation of its force majeure for Nigerian Bonny oil exports, militants in southern Nigeria ambushed a naval vessel guarding an offshore concession operated by Addax Petroleum Corp., killing one person and wounding several others.
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Saudi Arabia again delays bids for Jizan refinery
Saudi Arabia has delayed for the third time a tender for bids for a projected 250,000-400,000 b/d refinery in the southwestern province of Jizan, according to local media.
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Indonesia modifies E&P cost-recovery process
Indonesian President Susilo Bambang Yudhoyono met with top foreign oil and gas company executives in a closed-door meeting also attended by Vice-President Jusuf Kalla, Energy and Mineral Resources Minister Purnomo Yusgiantoro, PT Pertamina president director Ari Soemarno, and R. Priyono, newly appointed head of BPMigas, the oil and gas regulatory body.
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WATCHING THE WORLD: Do McCain and the Saudis agree?
US Sen. John McCain will probably smile with satisfaction after learning of remarks by members of Saudi Arabia’s legislative body, the Majlis Shura, who feel that the US should begin producing more oil at home.
