Supplier-user teamwork key to stable oil prices
Since the early 2000s oil prices have more than tripled (Fig. 1).
BP suspends Azeri oil shipments via rail to Georgia
BP PLC has been forced to suspend shipments of 50,000-70,000 b/d of oil from Azerbaijan to Georgia following the destruction of a key railroad bridge, severing the main east-west train link between the two countries.
WATCHING THE WORLD: A failure of oil diplomacy
US Sen. John McCain, the Republican Party’s presidential hopeful, has underscored concerns in the country about the viability of the Caucasus as a secure transit corridor for oil and gas.
SCP line open; BTC, WREP lines remain shut down
BP PLC has restored exports of natural gas from Azerbaijan into the South Caucasus Pipeline (SCP), but said the 150,000-b/d Western Route Export Pipeline (WREP) remains shut, as does the 1 million b/d capacity Baku-Tbilisi-Ceyhan (BTC) oil pipeline.
API: Senate’s ‘Gang of 10’ proposal adds taxes, not tracts
A compromise energy legislation proposal advanced by a bipartisan group of US senators falls short of what is needed because it is “light on new production and heavy on new taxes,” said the American Petroleum Institute on Aug. 13.
Dallas Fed analysts see reprieve from record-high oil prices
World oil prices apparently have been given a reprieve from their early summer peak, two analysts in the Federal Reserve Bank of Dallas’ economic research department contended on Aug. 14.
WATCHING GOVERNMENT: A possible path to a compromise
The single biggest question this August congressional recess remains whether compromise energy legislation that includes opening more of the US Outer Continental Shelf to leasing will be seriously considered in September.
Record-breaking Colorado lease sale still falls short
The long-anticipated Roan Plateau lease sale netted $113.9 million, a record for the US Bureau of Land Management in the Lower 48, the US Department of the Interior agency said on Aug. 14.
MMS Lease Sale 207 attracts $487 million in apparent high bids
Apparent high bids totaling just over $487 million were offered for 319 tracts in the western Gulf of Mexico at Lease Sale 207, reported the US Department of the Interior’s Minerals Management Service Aug. 20 in New Orleans.
Freeport LNG applies to export gas imports
Freeport LNG Development LP is the first US firm to request permission to export LNG imported into its Freeport, Tex., terminal.