Table of Contents

Oil & Gas Journal

02/04/2008
Volume 106, Issue 5
ogj1065_cover
  • Regular Features

    • OGJ Newsletter

    • Letters

      • World decline rate
        The Jan. 17, 2008, press release by Cambridge Energy Research Associates (see www.cera.com), which was carried by Reuters, reported the world’s oil supplies were to rise to 112 million b/d by 2017.
    • Journally Speaking

      • The knowledge base
        The oil and gas industry’s worry over the loss of its petroleum engineering and geological knowledge base to an expected wave of retirements may not be as warranted as once thought.
    • Editorial

      • Bush’s energy program
        It’s no mere coincidence that the most sterile climate in decades for energy policy-making developed while the US president followed instead of led on the subject.
    • Area Drilling

      • Area Drilling
        Central Petroleum Ltd., Perth, updated seismic activity on its permits in the Amadeus and Pedirka basins in Australia’s Northern Territory.
    • Equip/Software/Lit

    • Services/Suppliers

    • Editor's Perspective

    • Market Journal

      • Government action revitalizes markets
        Fears of recession and unauthorized trading at an international French bank battered equity markets, forcing government action that caused US energy prices to rebound in late January.
  • General Interest

    • 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.
    • 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.
    • 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.
    • 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.
    • 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.
    • 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.
    • 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.
    • 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.
    • 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.
    • 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.
    • 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.
    • 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.
    • 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.
  • Exploration & Development

  • Drilling & Production

  • Processing

  • Transportation

    • Tanker earnings continue slide
      Tanker market earnings for the half-year ended September 2007 softened 25%, from the same period a year earlier and 10% from the prior 6 months.
  • Print Ad Index

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Oil & Gas Journal’s Feb. 6, 2015, webcast will focus on the future of US refining as various forces this year conspire to pull the industry in different directions. Lower oil prices generally reduce feedstock costs, but they have also lowered refiners’ returns, as 2015 begins with refined products priced at lows not seen in years. If lower per-barrel crude prices dampen production of lighter crudes among shale plays, what will happen to refiners’ plans to export more barrels of lighter crudes? And as always, refiners will be affected by government regulations, particularly those that suppress demand, increase costs, or limit access to markets or supply.

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