International news for oil and gas professionals
On a decades-old map of the southwestern Anadarko basin, the only sizable oil accumulation is the Elk City Hoxbar Sand Unit, discovered by Shell Oil Co. in Beckham and Washita counties, Okla., in the late 1940s.
If energy policy is to get right, the US government must learn to trust—or at least not dismiss on sight—information from industrial sources.
Ministers of the Organization of Petroleum Exporting Countries, noting the continued adverse effects of speculation on oil markets, agreed Dec. 14 at their planned meeting to maintain current production at 30 million b/d.
The International Energy Agency, revising upward earlier estimates, said it expects production capacity of members of the Organization of Petroleum Exporting Countries to reach 38.1 million b/d by 2016.
Eni SPA Chief Executive Officer Paolo Scaroni said tighter sanction on Iran could cost the Italian firm as much as $2 billion in crude oil owed to it by National Iranian Oil Co.
The oil and gas industry, in an era of naysayers, needs uplifting words now and again. Such is the effect of a recent speech by Saudi Aramco Pres. Khalid Al-Falih.
Royal Dutch Shell PLC said it will pull out of Syria following the European Union's imposition of tougher sanctions against the regime of the country's embattled President Bashar Al-Assad.
Suncor Energy Inc. and Gulfsands Petroleum PLC each declared force majeure and are suspending their respective operations with Syria's state-owned General Petroleum Corp. (GPC) to comply with sanctions imposed by the European Union.
China's demand for crude oil easily could reach levels comparable with today's demand levels for oil in the US by 2040, according to a new energy study by Rice University's Baker Institute.
US President Barack Obama promised to block any effort to include a Keystone XL pipeline project approval provision in legislation to extend the payroll tax cut, which is due to expire at yearend.
The essential question at a Dec. 7 Center for Strategic and International Studies seminar was whether North America is on the verge of a tight oil boom in the next 10 years comparable to its tight gas bonanza of the last 10.
Colorado adopted hydraulic fracturing fluid ingredient regulations, effective Apr. 1, requiring disclosure of all chemicals and establishing ways to protect proprietary information.
Natural gas from shale and other unconventional sources will account for 30% of worldwide gas production by 2040, ExxonMobil Corp. said in its 2012 energy outlook.
The latest federal lease sale within the National Petroleum Reserve-Alaska generated about $3.6 million in bids for 17 tracts on 141,739 acres, the US Bureau of Land Management announced on Dec. 7.
If US elections in 2012 amounted only to a contest between envy and oil, President Barack Obama would win 4 more years in office. Obama knows this. Do Republicans?