Malaria kills an African child every 30 sec and more than 1 million people a year, said Rex W. Tillerson, chairman and chief executive officer of ExxonMobil Corp., as he explained on “World Malaria Day” last April how the company is fighting the preventable disease.
The International Energy Agency and the Organization of Petroleum Exporting Countries have revised their forecasts for 2009 oil demand and supply in their latest monthly oil market reports.
A few days before its Mar. 15 meeting in Vienna, the Organization of Petroleum Exporting Countries reduced its latest forecast of 2009 world crude demand by 400,000 b/d for a total loss of 1.01 million b/d to 84.6 million b/d.
It would seem unlikely that the Persian Gulf region, so commercially dependent on fossil fuel production and exportation, would lead the world’s search for the 21st Century’s energy source.
The Organization of Petroleum Exporting Countries, noting signs of market strengthening, agreed in a Mar. 15 meeting in Vienna to seek full compliance with a quota cut announced in December.
Seaborne oil exports of the Organization of Petroleum Exporting Countries, excluding Angola and Ecuador, will fall to a 5-year low in the four weeks to Mar. 28, according to analyst Oil Movements.
Russia has proposed sending a permanent envoy to the Secretariat of the Organization of Petroleum Exporting Countries in an effort to coordinate policies, again declining membership in the group.
Algeria’s energy minister Chakib Khelil recently urged gas-consuming nations to rethink their tax policies if they are to remove barriers and encourage imports (OGJ, Mar.
The total transaction value for worldwide upstream corporate and asset deals plunged to $104 billion in 2008 compared with an annual average of nearly $160 billion during 2005-07, consultants said in an annual report.
Federal oil and gas leasing programs could do more to encourage leaseholders to move more aggressively toward production, the US Department of the Interior’s acting inspector general told a congressional subcommittee on Mar. 17.
Apparent high bids totaling just over $703 million were offered for 348 tracts in the central Gulf of Mexico at Lease Sale 208, reported the US Department of the Interior’s Minerals Management Service Mar. 18 in New Orleans.
Ethanol supporters petitioned the US Environmental Protection Agency to raise the limit on the amount of ethanol blended into gasoline to 15% from 10%.
There are many reasons—economic, preaudits, strategic planning for enhanced recovery, among others—that call for the size or ultimate reserves of an oil or gas field to be estimated.
With an abundance of cheap feedstock, the Middle East is poised to become one of the world’s largest exporters of petrochemicals, targeting markets in Europe and Asia.
