The Macondo oil spill in the Gulf of Mexico is pushing US skimming resources to their limits, and the spill provides a test venue for new cleanup technology.
The front-month crude contract jumped 5.5% in the week ended July 9 to $76.09/bbl in the New York market on mixed demand forecasts and an unexpected drop in US inventories.
As President Barack Obama seeks to buy votes for party colleagues with fanciful promises about energy, the US has new reason to resist his costly ploy and all others like it.
Any disaster with loss of life and grave environmental damage is upsetting, but the Macondo blowout in the Gulf of Mexico has generated unprecedented rage and vindictiveness among both the public and elected officials toward not only the involved companies but the deepwater oil and gas industry as a whole.
An integrity test on the deepwater Macondo well in the Gulf of Mexico continued for several days as operator BP PLC and federal officials evaluated whether pressure readings might indicate reservoir depletion.
Two US House committees passed bills after returning from Congress's Independence Day recess in response to the Gulf of Mexico deepwater well blowout, rig explosion, and oil spill.
As the Obama administration's efforts to stop, contain, and clean up the massive oil spill in the Gulf of Mexico ended their third month, a White House task force issued a report with broader US ocean policy implications.
Pertronas exploration unit Petronas Carigali Sdn. Bhd. plans to build a 200-km pipeline to Indonesia's Tambak Lorok electric power plant in East Java from the Kepodang gas block off Central Java, according to a senior government official.
Four oil majors announced plans July 21 to build and deploy a rapid response system that would be available to capture and contain oil in the event of a future well blowout in the deepwater Gulf of Mexico.
Providence Resources PLC, Dublin, plans to progress to drilling several prospects in the Porcupine basin off southwestern Ireland after a mid-2009 3D seismic survey indicated three areas of hydrocarbon potential.
Petroleo Brasileiro SA (Petrobras) has begun producing Well Urugua 6 to the Cidade de Santos floating production, storage, and offloading vessel, moored 160 km off Brazil in the Santos basin.
Nexen Inc., Calgary, said has more than doubled its land position in Northeast British Columbia, where it drilled eight wells in the Horn River basin in the first quarter of 2010.
PDC Energy, Denver, formerly Petroleum Development Corp., will explore for gas and oil in Late Cambrian Rose Run sand and Early Ordovician Beekmantown carbonate remnants encased in shale in central Ohio.
Producers added more than 6 million tonnes/year (tpy) of ethylene capacity in 2009, according to the latest Oil & Gas Journal's survey of the global industry.
Ethylene producers will long remember, some fondly and others with regret, first and second quarters 2010 as a period of unusual price volatility and unexpectedly strong profitability.
