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SPECIAL REPORT: Independents mitigate field costs through operating efficiencies
Independent operators report strong US exploration and production efforts despite increased drilling costs and other service costs.
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SPECIAL REPORT: High costs for rigs, services pinch independents
High costs for drilling rigs and services are expected to continue in 2008 in an already tight market for equipment and personnel, say industry analysts and independent oil and gas producers.
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Bush touts similar energy message in SOTU speech
US President George W. Bush commended Congress for passing legislation in 2007 aimed at reducing US dependence on oil and urged federal lawmakers to continue such efforts in 2008 during his seventh State of the Union address.
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DOE study sees high North Slope potential
US oil reserves could more than double by 2050 if commodity prices remain high and leasing restrictions ease on Alsaka’s North Slope, according to a federal government study.
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API: US natural gas drilling breaks record in 2007
US oil and gas exploration and production activity remained robust during 2007 as producers drilled a record number of natural gas wells, the American Petroleum Institute said.
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WATCHING GOVERNMENT: Greenhouse gas control issues
US Senate Environment and Public Works Committee Chairwoman Barbara Boxer (D-Calif.) did not hide her displeasure as she opened a Jan. 24 hearing on Environmental Protection Agency Administrator Stephen L. Johnson’s refusal to grant California and 14 other states authority to impose tougher greenhouse gas controls on motor vehicles.
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OWA: W. Africa is strategic for global crude oil supplies
Offshore West Africa is poised to become an important source of oil and gas supplies for global consumption, with 6.5 billion bbl of oil discovered in the last 2 years alone.
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OWA: Pressure increases to bring peace to Niger Delta
Funds of $4 billion allocated by the Nigerian government to the Niger Delta for its development over the last 4-5 years have been swallowed up by increased governmental staff wages, security, and corruption, a senior official said.
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Nigeria expects OPEC production to remain level
Nigeria does not expect to see a change in oil output from members of the Organization of Petroleum Exporting Countries at the group’s upcoming emergency meeting being held Feb. 1 in Vienna, a senior oil official said.
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New consortium formed to manage Kashagan field
A new managerial consortium consisting of Eni SPA, Royal Dutch Shell PLC, Total SA, and ExxonMobil Corp. has been formed to perform operational management of Kazakhstan’s Kashagan oil field, said Eni Chief Executive Officer Paolo Scaroni.
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Bush asked to recall US-Cuba boundary note
US Sen. Bill Nelson (D-Fla.) has asked President George W. Bush to recall a diplomatic note to Cuba delineating Gulf of Mexico boundaries because of a Jan. 15 agreement between Brazil and Cuba’s national oil companies.
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WATCHING THE WORLD: Egypt’s rising energy stature
Egypt’s increasingly strategic role in oil and gas shipping, as well as nuclear and alternative energy, was recently highlighted by US Sec. of Energy Samuel W. Bodman on his tour of the Middle East.
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Brazil makes inroads in Cuba, signs E&P agreements
Brazil’s state-owned Petroleo Brasileiro SA (Petrobras) has signed agreements with Cuba’s Cupet for cooperation in oil and gas exploration and production, research and development, and human resource cooperation.
