If you simply look at the hard numbers (prices, profitability, margins, capacity utilization), you would draw the opposite conclusion and recognize that the oil industry’s best friends are those who claim to be its worst enemies.
A newly formed consortium aims to develop nanotechnologies that can characterize oil and gas reservoirs more comprehensively than the current means that rely largely on collecting near wellbore data.
Political responses to economic problems can do more harm than good. The US government is now rushing together a political fix for an economy unraveling at surprising speed.
These thoughts might have occurred to Saudi Arabia’s King Abdullah when US President George W. Bush, during a visit to the desert kingdom, requested an increase in oil production…
The February crude contract fell 71¢ to $90.13/bbl Jan. 17 on the New York Mercantile Exchange—its lowest closing in 5 weeks—after Federal Reserve Chairman Ben Bernanke told the US House Budget Committee downside risks to US economic growth in 2008 were “more pronounced” than ever.
Billions of dollars in investments will be required annually to achieve global energy security by diversifying supplies, suppliers, and supply routes, US Secretary of Energy Samuel W. Bodman told business leaders in Saudi Arabia.
The US petroleum product distribution system is constrained in key areas and will likely become more so without timely investments, the US Government Accountability Office warned in a Jan. 18 report.
Rising oil prices combined with falling inventories to keep US petroleum product demand essentially flat during 2007, the American Petroleum Institute said on Jan. 17.
US Rep. Edward J. Markey (D-Mass.) has urged Secretary of the Interior Dirk A. Kempthorne to postpone the Minerals Management Service’s sale of leases in the Chukchi Sea off Alaska for a year until the Fish and Wildlife Service (FWS) decides whether to list the polar bear as an endangered species.
The aggregate global decline rate for producing oil fields is 4.5%/year rather than the 8%/year sometimes cited in other studies, said Cambridge Energy Research Associates (CERA) and IHS Inc. in a report entitled “Finding the Critical Numbers.”
This energy outlook for natural gas to 2030 was developed by the US Energy Information Administration and focuses on a short-term reference case, Annual Energy Outlook 2008 (AEO2008), which it compares with the Annual Energy Outlook 2007 (AEO2007) reference case.
The US Minerals Management Service has begun an evaluation of the environmental issues associated with future federal Outer Continental Shelf lease sales for oil and gas exploration in the Beaufort and Chukchi seas off Alaska.
Trend surface residual anomaly (TSRA) mapping techniques have been applied to three regions to demonstrate their use in the identification of blind structures and trends in areas with substantial well data and limited seismic data.
Growing demand for fuel, petrochemical feedstock and petrochemical products —both at home and in global markets— combined with Egypt’s petrochemical master plan offers attractive investment opportunities that will also speed the country’s downstream growth.
If there is a single word that defines every facet of tomorrow’s energy markets, it is competition—for resources, for opportunities, for customers, for qualified employees and for capital.
As the potential of Egypt’s gas resources became well defined and the benefits of clean burning fuel more important, the Egyptian Natural Gas Holding Co.
Natural gas discoveries like those in the Obaiyed and Khalda concessions will be important to the growth of Egypt’s energy sector and the country’s economy.
Rising oil and gas prices have made those basic commodities increasingly valuable to countries with substantial proven reserves and attractive exploration prospects.
With the bulk of its natural gas resource in the Mediterranean—some studies estimate ultimate recovery from deepwater gas reserves at up to 70 tcf—and a strategic focus on optimizing the value of its natural gas supply, meeting deepwater challenges will be vital to Egypt’s energy future.
