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Editorial: An expensive land grab
In a move with dire implications for exploration and production on federal land, the US Senate returned to business as usual as the 111th Congress began work.
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Change: the only certainty as industry prepares for 2009
Barack H. Obama ran for US president on a platform that emphasized change.
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BMI: Only small increase seen in 2009 oil consumption
Global oil consumption will increase by just 0.6%, representing a decline of 1.3% in Organization for Economic Cooperation and Development countries and an increase of 2.3% in non-OECD countries, according to analyst Business Monitor International.
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Pemex lets Chicontepec work; delays drill bids
Mexico’s Petroleos Mexicanos has awarded four contracts worth a total $154 million for the construction of 344 drilling pads and access roads in the Chicontepec region.
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Pertamina says Natuna D-Alpha project delays persist; access blocked
Indonesia’s state-owned PT Pertamina may delay its decision to seek partners for developing the Natuna D-Alpha gas block in the Riau Islands.
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Watching The World: Japan floats new ideas
The Japanese are floating ideas that may create waves in the oil and gas industry.
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Gas exporting countries form charter, base in Doha
The Gas Exporters Countries Forum (GECF), a group of the world’s largest natural gas suppliers, has established a charter and chosen Doha as the home for its permanent secretariat, signaling Qatar’s growing importance in the natural gas market.
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Indonesia sees 2% decline in 2009 LNG output
Indonesia’s LNG production is projected to decrease by more than 2% in 2009, largely due to a decline in the supply of natural gas to the country’s Bontang LNG facility.
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Gazprom head comments on Ukraine gas issue
Europe has stopped receiving gas supplies from Russia via Ukraine amid the bitter dispute that Russia’s OAO Gazprom is embroiled with Ukraine over unpaid bills and prices for deliveries in 2009.
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Russian gas supplies through Ukraine shut down
All Russian gas supplies through Ukraine were shut down early Jan. 7 in a further escalation of the OAO Gazprom-Naftogaz pricing dispute, leaving some European Union and Balkan countries, now facing bitter cold temperatures, with no gas supplies from Russia.
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World oil demand to reach 310 million b/d in 2030
ExxonMobil Corp. expects global energy demand to increase by an average 1.2%/year during 2005-30, even assuming major energy efficiency gains.
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ExxonMobil fined for 2006 Massachusetts spill
ExxonMobil Pipeline Co. agreed to pay more than $6 million in fines for a 2006 oil products spill near its Everett, Mass., terminal, the US Department of Justice said on Dec. 23, 2008.
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Watching Government: New SEC rules: too late for ’08
Publicly traded producers were elated when the US Securities and Exchange Commission (SEC) adopted new oil and gas reserves disclosure regulations Dec. 29, 2008.
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LNG firms struggle with investments in volatile market
Gas companies are uncertain whether to make LNG investments as gas demand falls due to high prices and the economic downturn, speakers said at the CWC LNG summit in Barcelona.
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Analyst notes changing global, Chinese LPG trade patterns
Demand patterns for global LPG trade will change in the near term, according to New York-based Poten & Partners, a global broker and commercial advisor for energy and ocean transportation industries, in its December issue of LPG in World Trade.
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Moody’s downgrades independent E&P industry
Moody’s Investors Service has changed its outlook of the independent exploration and production industry to negative, citing the “precipitous decline” in oil and natural gas prices to levels that are likely to result in abnormally low cash margins and fundamental credit deterioration.
