International news for oil and gas professionals
Oil and gas companies this month started releasing their 2012 spending plans. Industry appears to be cautiously optimistic, buoyed by recent $100/bbl oil prices and anticipated long-term energy demand growth.
The leader of the International Energy Agency performed a service at an important international meeting in Durban, South Africa, last week by highlighting the linkage between energy security and efforts to moderate climate change.
Oil and natural gas companies based in the US and Canada reported a collective surge in earnings during the third quarter compared with year-earlier results.
Worldwide upstream oil and gas spending in 2012 will climb by 10% to reach $598 billion, according to a recent outlook by Barclays Capital.
American Petroleum Institute Pres. Jack N. Gerard disputed US Rep. Edward J. Markey's (D-Mass.) allegations that API's job growth estimates from more oil and gas activity are overblown.
US Sec. of the Interior Ken Salazar's two stated reasons for keeping a sale off Virginia out of the proposed 2012-17 Outer Continental Shelf program—lack of infrastructure and possible interference with military activities—make no sense, one of the state's top officials said.
At least another year will be needed to adequately consider potential impacts and feasibility of proposed US Environmental Protection Agency regulations involving air emissions at oil and gas production sites and gas transmission and storage facilities, the American Petroleum Institute said.
The US Environmental Protection Agency and Fish and Wildlife Service reached an agreement with ConocoPhillips regarding its proposed Alpine Satellite Development Plan (CD-5) in the National Petroleum Reserve-Alaska.
US House Republicans joined their Senate colleagues on Dec. 2 in urging US President Barack Obama to reverse his Nov. 11 decision to delay acting on TransCanada Corp.'s cross-border permit application for the project until after the 2012 elections.
Kathryn Klaber quickly got to the point when she addressed the American Gas Association's Natural Gas Roundtable luncheon on Nov. 29.
Opening the 20th World Petroleum Congress in Doha this week, Qatari Emir Sheikh Hamad Bin Khalifa al-Thani called for renewed cooperation between countries that produce oil and gas—mostly in the developing world—and countries that comprise major markets—mainly in the developed world.
China became a price setter on the iron ore market within the last 3 years, and China could become a future price setter for natural gas, Edward L. Morse, managing director of commodities research at Citigroup Global Markets Inc., told an energy conference at Rice University's Baker Institute.
The international oil and gas industry will see red on learning that the US Department of Energy has provided $500 million to some firms in San Diego to produce oil from algae.
Citing deteriorating refining market conditions, Philadelphia refiner Sunoco Inc. reported it will idle "indefinitely" the main processing units at its 175,000-b/d Marcus Hook, Pa., refinery.
The European Union has forfeited credibility needed elsewhere with forays last month into drilling and diction.