Although it's difficult to assess precisely how much crude and distillate fuel are now held in floating storage around the globe, the associated risk is increasing significantly, said Olivier Jakob at Petromatrix, Zug, Switzerland.
The petroleum industry's long history of successful carbon dioxide enhanced oil recovery (EOR) operations can make substantial contributions to improve and accelerate the deployment of carbon capture and storage projects.
Technology is moving ahead more quickly than legislation to address global climate change, three federal lawmakers agreed on Dec. 1. Congress won't be able to get back to work on the issue until 2010, they added.
As the United Nations Climate Change Conference Dec. 7-18 in Copenhagen prepares to consider general strategies, a Shell International Exploration & Production official continues to ask practical questions about a specific climate strategy: carbon capture and storage.
The US Federal Energy Regulatory Commission sent an important signal Nov. 19 when it launched a cost-recovery investigation of three major interstate gas pipelines' rates.
Oil industry groups welcomed a Nov. 30 decision by the US Environmental Protection Agency to postpone a decision on raising the amount of ethanol that can be blended into gasoline.
China National Petroleum Corp., apparently shrugging off environmentalists' concerns, has signed three oil and gas cooperation agreements with the government of Sudan.
Here's something that may alarm the oil and gas industry: Iran has given the Islamic Revolutionary Guard Corps command over naval operations in the Persian Gulf and Strait of Hormuz.
Mexico's state-owned Petroleos Mexicanos and the Secretaria de Energia (Sener) are preparing risk contracts that will be offered to oil companies—international and domestic—in order to accelerate the search for oil and gas, according to local media.
The Mexican government has slashed the allocation to state-owned Petroleos Mexicanos (Pemex) for Chicontepec oil development in 2010 by more than 60% from this year's level, according to local media.
Experts may disagree on when world oil production will peak, but there is general agreement that marginal fields will contribute a greater percentage of world supply in the future.
Activity further intensifies in the South Texas play for gas with condensate to varying degrees in Cretaceous Eagle Ford shale, according to developments reported in November.
The Black Sea energy landscape is going to change dramatically over the next 5-10 years, as the region's nations pursue aspirations not only to become transport hubs for oil and natural gas supplies moving into Europe but also to boost their own hydrocarbon output.
