Incomplete information is a big problem for oil market forecasters. Couple the lack of complete data with a market that responds to factors other than supply and demand, and what are forecasters to do?
Meeting goals set by the Obama administration for carbon dioxide emissions would require sharp increases in fuel prices and strict regulation, a new report says.
After failing to sustain pushes above $80/bbl in four previous sessions, April crude closed at $80.87/bbl Mar. 3, up $1.19 for the day in the highest closing for a front-month contract in 7 weeks in the New York market as the euro strengthened against the US dollar.
Enhancing operational flexibility of the factory approach to unconventional-gas drilling programs can help operators lower the risk of inefficient use of capital, which some have encountered with costly results.
Improving technologies and massive natural gas reserves—especially shale gas plays—will assure fossil fuels remain the dominant energy source for decades, industry speakers told CERAWeek, hosted by IHS Cambridge Energy Research Associates.
Energy demand is shifting from the developed world to the developing world, and Asia is expected to account for much of the growing demand during the next 20 years, speakers told CERAWeek attendees on Mar. 8.
The value of global upstream mergers and acquisitions jumped 40% during 2009 to just under $150 billion, IHS Herold Inc. reported Mar. 8 in its annual Global Upstream M&A Review.
US President Barack Obama hosted 14 US senators and top administration policymakers at the White House on Mar. 9 for more than an hour to discuss prospects for comprehensive energy legislation.
Although the shale gas formation stretches across several states, the new Marcellus Shale Coalition president and executive director thinks Pennsylvania is its "sweet spot."
The US Occupational Safety and Health Administration proposed more than $3 million in fines as it cited a BP North America Inc. and BP-Husky Refining LLC refinery near Toledo, Ohio, on Mar. 8 for 42 alleged willful violations of federal workplace regulations.
Another strike threatens France's refining industry as workers at the 137,000-b/d Flanders Refinery at Dunkirk rejected a plan Total SA presented to a labor committee not to resume refining operations and to convert the site to other uses able to employ 370 with no layoffs.
The Organization of Petroleum Exporting Countries, in its latest monthly Oil Market Report, expects worldwide oil demand to grow by 900,000 b/d in 2010.
The international oil and gas industry is fast learning the importance of shale gas, and the excitement over the relatively new resource is growing—especially in Europe.
Another name is added to the list of major oil and gas discoveries off Ghana as Vanco Ghana Ltd. and Lukoil Overseas Ghana Ltd. reported a gas-condensate and oil discovery at the Dzata-1 exploratory well.
Expanding natural gas production from indigenous sources poses the most serious threat to imports of natural gas as LNG into North America, primarily the US.
