International News for oil and gas professionals
Significant advances in technology have unlocked abundant quantities of natural gas and crude oil in North America, but the potential benefits of these resources can only be realized through prudent development.
The US Environmental Protection Agency faces a dilemma with a final rule it is expected to issue soon on renewable fuel standards (RFS).
Eni SPA Chairman Paolo Scaroni, addressing a ministerial meeting of the International Energy Agency in Paris, sharply disagreed with the organization's assessment of the impact of the so-called Arab Spring on oil and gas investment.
TNK-BP stakeholders Alfa, Access, Renova (AAR) and BP PLC have agreed to form a new management committee that will run the Anglo-Russian firm on a daily basis.
Norway's Statoil said part of its newly discovered Aldous Major South field in the North Sea is twice as large as first thought, raising its estimate as much as 3.3 billion boe (OGJ Online, Sept. 22, 2011).
BP PLC's recent announcement of plans for a multibillion-dollar investment in the UK North Sea has whipped up a political storm, with Scottish nationalists again sounding calls for independence from the UK.
Drilling activity in the UK North Sea has fallen by 36% year-on-year despite an oil price of more than $100/bbl which would normally encourage increased exploration activity.
The Irish energy ministry has awarded license options in the country's 2011 license round on Ireland's Atlantic margin, which has a proven petroleum system but lacks sizable discoveries.
The Middle East appears set to dominate the expansion of global refining capacity in the latter half of this decade, eclipsing Asia as projects there come on stream.
Crude oil production from Mexico's state-owned Petroleos Mexicanos (Pemex) is expected to increase to more than 2.6 million b/d by yearend and could rise to 3 million b/d by 2016-17, according to the firm's top executive.
The US Environmental Protection Agency announced that it will develop standards for handling wastewater generated during coalbed methane and shale gas production.
Ask those who have tried to produce natural gas from shale formations, and they'll tell you: One size doesn't fit all.
The Texas Railroad Commission-led Eagle Ford Task Force has adopted several advisements related to truck traffic and pipeline development in the region.
The board of Williams Cos., Tulsa, has approved a revised plan, driven by weak equity markets, to separate the company's businesses into two stand-alone, publicly traded corporations.
Eternal truths about the oil market often die young.