Table of Contents
Oil & Gas Journal
08/02/2010
Volume 108, Issue 28
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Regular Features
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OGJ Newsletter
International news for oil and gas professionals
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Journally Speaking
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A large multimedia step
First a description of what's happening with Oil & Gas Journal, then the reasons for this large multimedia step forward…
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A large multimedia step
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Editorial
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An antibribery crackdown
Enforcement of antibribery statutes is increasing around the world in a trend important to the oil and gas industry for two big reasons.
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An antibribery crackdown
- EQUIPMENT | SOFTWARE | LITERATURE
- Services/Suppliers
- Advertisers Index
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The Editor's Perspective
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Message on sulfur to oil industry: pay now or suffer later
The oil and gas industry has taken over the global production of sulfur but, according to sulfur specialists, mistreats the yellow material as a byproduct best disposed of and otherwise ignored.
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Message on sulfur to oil industry: pay now or suffer later
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Market Journal
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Refining capacity near 3-year high
US refineries operated at 91.5% of capacity the week ended July 16—"the highest level since August 2007" and up from 90.5% the previous week, said Jacques H. Rousseau, analyst at RBC Capital Markets under the Royal Bank of Canada.
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Refining capacity near 3-year high
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OGJ Newsletter
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General Interest
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Market changes vex Russian gas policies
Adapted from a presentation prepared for the Russian Event sponsored by the Center for Global Affairs, New York University, and The Carnegie Corp., Feb. 26, 2010.
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BP's Hayward to step down as chief executive
BP PLC Chief Executive Tony Hayward agreed to step down from his post, effective Oct. 1, and he will be succeeded by Robert Dudley, executive director who is currently overseeing the Macondo oil spill response.
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BP reports $32 billion charge related to oil spill in gulf
BP PLC announced a pretax charge of $32.2 billion for the Gulf of Mexico oil spill, including a previously announced $20 billion escrow compensation fund.
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BP planning for relief well to kill Macondo blowout starting early August
BP PLC crews drilling the first relief well to the Macondo well tentatively planned to start trying to kill the flow of oil and gas inside Macondo around Aug. 7-9 regardless of the success of a static kill operation, expected around Aug. 2.
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Study outlines economic impact of independents in gulf
Excluding independent producers from the deepwater Gulf of Mexico could eliminate 265,000 jobs and $106 billion in federal, state, and local tax revenue by 2020, a new study by IHS Global Insight in Lexington, Mass., concluded.
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Analyst says Macondo incident 'not terminal' to gulf drilling
The deepwater Macondo well blowout will not prove as detrimental to drilling in the Gulf of Mexico as the Three Mile Island accident proved for the nuclear industry, Douglas L. Becker, an oil services analyst with Bank of America, told an Oilfield Breakfast Forum on July 23.
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Watching Government: The oil spill bill
As US Senate Majority Leader Harry M. Reid (D-Nev.) prepared to unveil oil spill liability legislation, an alliance of Midcontinent producers and national associations representing royalty owners and stripper-well operators warned that the measure could be funded by repealing significant tax incentives.
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House panel asks Transocean for data on rig before blowout
US House Energy and Commerce Committee leaders sent a letter to Transocean Ltd. on July 23 seeking more information on safety practices aboard the Deepwater Horizon and the semisubmersible rig's condition before it caught fire and exploded following the Macondo well's blowout on Apr. 20.
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US House passes R&D bills in response to blowout in gulf
The US House passed two bills on July 21 that would create research programs in response to the Macondo well blowout and resulting oil spill in the Gulf of Mexico.
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Senators press DOI to expedite shallow-water permit processing
Ten US senators from five coastal states urged the US Department of the Interior to expedite consideration of shallow-water drilling permit applications and to provide adequate guidance for applicants seeking new permits.
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Boost in Marcellus shale jobs, economy expected, study says
Development of Marcellus shale natural gas could create 280,000 jobs and add $6 billion of federal, state, and local tax revenues over the next decade, a new study commissioned by the American Petroleum Institute concluded.
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Unconventional gas revolution to reshape global gas dynamics
Global unconventional gas has the potential to reshape global gas dynamics, according to a report by analyst Wood Mackenzie.
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Watching The World: China pushes the boundaries
The international oil and gas industry is no stranger when it comes to maritime disputes.
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Norton, Kempthorne defend OCS decisions in House hearing
Two former US Interior secretaries firmly refused to accept some US House members' efforts to second-guess the DOI officials' offshore oil and gas decisions in light of the Apr. 20 Gulf of Mexico deepwater well blowout, rig explosion, and oil spill.
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Market changes vex Russian gas policies
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Special Report: Offshore Europe
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Prospects slowly brighten for operations off Europe
Nervous optimism describes the mood of European operators just past 2010's midpoint as oil prices have recovered from the drastic late 2008 slump, economies slowly emerge from the worst recession since World War II, and financing options resurface.
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Europe considers drill ban following BP gulf oil spill
BP PLC's oil spill crisis in the US Gulf of Mexico has prompted offshore safety regulators in Europe to examine the adequacy of their own response procedures to ensure a similar disaster does not happen there.
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Prospects slowly brighten for operations off Europe
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Exploration & Development
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Davy Jones: can geologists predict deeper commercial environments?
The Davy Jones deep gulf shelf discovery by McMoRan Exploration et al. in South Marsh Island blocks 230, 231, 234, and 235 is of major importance for a number of reasons.
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San Juan Chaco play has Denver Niobrara elements
An oil play is under way on the eastern Chaco slope of the San Juan basin in northwestern New Mexico, where 17 zones from 400 ft to 4,000 ft have oil potential, including unconventional oil from the Cretaceous Mancos shale.
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Jordan to exploit shale deposits under accord with Enefit
The Jordanian government, aiming to overcome years of dependency on outside sources of oil and gas, has granted Estonia's Eesti Energia (Enefit) a concession of up to 50 years to develop oil shale deposits in the country.
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Model thermal anomalies over petroliferous basins
The presence of negative thermal anomalies over petroliferous basins has been reported from field data and from satellite remote sensing data.
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Davy Jones: can geologists predict deeper commercial environments?
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Drilling & Production
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Design optimizes sour-crude production facility
A proposed design can improve a production facility that handles sour crudes containing saline water.
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Well logs identify igneous reservoir fracture types
A study established a quantitative fracture identification method for the igneous reservoir rock in the Xingcheng group of Xushen gas field, a field near Daqing in northeastern China.
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Design optimizes sour-crude production facility
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Processing
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Adopting E85 provides way over 'blend wall'
Approval soon of gasoline ethanol blends of 15% (E15) by the US Environmental Protection Agency appears nearly certain and offers the illusion of a path to alleviate the immediate "blend wall" issues for refiners and importers posed by conflicting requirements of the 1990 Clean Air Act and the 2007 Energy Independence and Security Act.
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Surging GTL promises lube-market opportunities
Petrobras has analyzed the world's lube-oil production capacity trends from 2000-09, as published by Oil & Gas Journal's annual refinery survey, the current status of world GTL production capacity, and the planned construction of GTL plants during 2010-11 in order to identify future high-quality lube-oil market opportunities derived from GTL technology
- Nelson-Farrar Cost Indexes
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Effects of crude price formula may be unexpected
The crude oil price escalation and de-escalation formula for change in API gravity may result in payment of a higher price for a crude oil as a result of the increase in API gravity, when the realizable value of the crude oil actually falls.
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Adopting E85 provides way over 'blend wall'
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Transportation
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Tanker earnings firm to start 2010
Tanker market earnings for the half-year ended March 2010 firmed 48.0% over the prior 6 months.
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LEAK DETECTION—Conclusion: Integrated selection method yields life-cycle benefits
A new method outlines a comprehensive approach to integrated selection and implementation of pipeline leak-detection systems, yielding both lower costs and greater efficiency over the life-cycle of the system.
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Intertanko forecasts sluggish tanker market
Intertanko predicts a sluggish tanker market moving forward, with lackluster economic and demand forecasts combining with use of vessels for storage, vessel recycling, and deferred vessel deliveries to create uncertainty.
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US Congress investigates pipeline regulatory gaps
Industry and regulatory representatives appearing before the US House of Representatives Subcommittee on Railroads, Pipelines, and Hazardous Materials June 29, 2010, addressed perceived gaps in existing safety regulations governing hazardous liquid pipelines.
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Tanker earnings firm to start 2010
