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Editorial: Congress lurching leftward
Concern about a disintegrating economy hasn’t daunted lawmakers who seem determined to force up the costs of energy.
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Special Report: Economic slump to suppress US, worldwide oil use in 2009
US energy demand this year will shrink along with the economy, but total use of all forms of energy will decline by a smaller margin than during 2008.
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Special Report: Fewer wells to be drilled in US, Canada in 2009
Drilling in the US is declining in response to the 2008 oil and gas price collapse and financial crisis in the US, and further drops are expected in the US and Canada in 2009.
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Mulva: US should pursue comprehensive energy strategy
Broader economic problems should not keep the US from pursuing comprehensive energy and environmental strategies, according to ConocoPhillips Chief Executive Officer James J. Mulva.
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Watching Government: GAO report sees duplications
The US Department of Energy should formally assess whether its oil and gas research and development projects would not have occurred without federal funding, the Government Accountability Office has recommended in a new report.
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Appeals court backs earlier Kerr-McGee deepwater ruling
A federal appeals court affirmed on Jan. 12 a US district court’s ruling that Kerr-McGee Oil & Gas Corp. should not have to pay royalties on eight Gulf of Mexico deepwater leases from 1996 to 2000 despite price thresholds imposed by the US Department of the Interior.
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Watching The World: Panama popping with possibility
Panama has been out of the news for a while, but the oil and gas industry has plans for the place, and those plans are moving ahead smartly.
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INGAA: Wider economic pressures could hamper gas pipeline financing
While US natural gas pipelines remain financially strong, broader economic conditions could challenge their ability to raise money to expand and maintain their systems, the Interstate Natural Gas Association of America warned on Jan. 14.
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Petrobras keeping 5-year plan under wraps
The long-awaited 5-year strategic plan spanning 2009-13 for Brazil’s Petroleo Brasilerio SA (Petrobras)—already delayed several times—will be assessed by the company’s board at the end of January, according to Paulo Roberto Costa, downstream director.
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NOIA, other trade groups voice support for leasing off Virginia
The National Ocean Industries Association and seven other industry trade groups issued a statement supporting the US Mineral Management Service’s formal solicitation of comments about leasing off Virginia.
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Costs rise despite economic slowdown, analysts say
Despite the global recession, construction costs for upstream oil and gas facilities have reached a record high, as have those for the design and construction of refining and petrochemical projects, say IHS Inc. and Cambridge Energy Research Associates (CERA) in their most recent upstream capital costs index (UCCI) and downstream capital costs index (DCCI).
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USAEE: US economic growth likely to be slight in 2009
The faltering economy and its effects on oil and gas production were among the main topics discussed at the December North American conference of the US Association for Energy Economics in New Orleans.
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BMI: Indonesian oil production decline to continue
Indonesia will see a 17.5% decline in oil production by 2018, with the country’s crude volumes falling steadily to 800,000 b/d, according to the most recent Indonesia Oil and Gas Report from analyst BMI.
