In response to congressional Democrats obstructing new offshore leasing until all existing leases are fully developed, I request that the Democratic National Committee put its money where its mouth is, so as to apply their assumed earth science expertise to locate the undeveloped petroleum precisely.
Oil & Gas Journal is a technology-based magazine emphasizing upstream and downstream issues and news for executives, engineers, and other participants in the oil and gas industry.
The oil market fell subject to more tugs and pushes than usual last week as the Organization of Petroleum Exporting Countries acted to support the price of crude and the second hurricane in 2 weeks threatened production and refining in and near the Gulf of Mexico.
Front-month crude prices fluctuated at $111-122/bbl through most of August on the New York Mercantile Exchange but fell sharply Aug. 28-Sept. 5 primarily as Hurricane Gustav proved less of a threat to offshore production and Gulf Coast refining than some anticipated.
National oil companies continue to head the lists of the world’s oil production and reserves leaders, according to Oil & Gas Journal’s survey of the top 100 oil and gas producers based outside the US, but more nongovernment corporations are breaking into the leading-producer rankings.
Oil and gas companies’ 2007 global investment for exploration and development projects totaled $402 billion—unchanged from 2006, said the latest annual upstream performance review by IHS Herold Inc. and Harrison Lovegrove & Co. Ltd.
Acknowledging that they have less than 3 weeks before the next recess, congressional leaders on both sides of the Capitol said they will bring energy bills up for votes soon.
The American Petroleum Institute said on Sept. 5 that it wasn’t questioning the US Department of the Interior’s decision to list the polar bear as a threatened species when it filed a motion on Aug. 27 to intervene in a lawsuit challenging the findings.
The Federal Energy Regulatory Commission, in its latest report to Congress Aug. 29, said that of the two major projects competing to deliver natural gas from Alaska’s North Slope, only one likely will be built, and it is urging that the sponsors work together to build that single line.
The US Bureau of Land Management issued a final programmatic environmental impact statement Sept. 4 to guide the use of public land containing oil shale and tar sands in three western states.
PT Chevron Pacific Indonesia (CPI), already under government scrutiny for alleged violations of its cost recovery claims, has forecast that production from its concessions will decline due to aging fields and seasonal floods.
If anything can be counted on in the oil and gas industry these days, it is that the governments of Venezuela and the US are not going to see eye-to-eye on very much at all.
The Mississippian Barnett shale has the potential to be a prolific gas producer in the Delaware basin, but it will take time, write geoscientists in the AAPG Bulletin.
Chevron Corp. has started gas production in a $7.3 billion project to develop an estimated 3 tcf of gas over several decades in the Piceance basin in northwestern Colorado.
Laboratory and field research with various completion fluids helps refine procedures to reduce corrosion in coiled tubing during use of nitrogen contaminated with oxygen.
At present, one potential for additional oil recovery from Daqing oil field in northern China is the remaining oil contained in reservoirs that have undergone polymer flooding.
LNG terminal development requires careful assessment of both the waterway leading to the potential terminal site and the geographic conditions of the site itself.
