International news for oil and gas professionals
The subjects differ, but basic problems in two US political issues are identical. In both, Americans face the need to part with money for failing to meet impossible requirements imposed by federal law. Common to both issues is a government trying to do too much.
"Every barrel of oil or cubic foot of gas that we produce at home instead of importing from abroad means more jobs, fast growth, and a lower trade deficit," said Gene Sperling, director of the National Economic Council, and Jason Furman, chairman of the Council of Economic Advisors, in a White House blog posting.
A political conservative leveraging shrill argumentation on a judgmental view of substance abusers would be censured for insensitivity.
Remember the Gulf of Mexico transboundary treaty glitch that was the subject of Watching Government's Oct. 14 column? There are growing indications now that it might not be a problem after all.
Oil and Gas Journal's semiannual Worldwide Construction Update shows an increase in gas processing construction activity compared with the previous edition of the update.
Three major Latin American oil-producing nations face different near-term policy prospects, ranging from reforms in Mexico to possible retreat in Brazil to near-total uncertainty in Venezuela, speakers said during a conference on Energy in the Americas.
The US still must address natural resources geopolitics despite its oil and gas outlook being dramatically better than it was when the Arab oil embargo began 40 years ago, US Sec. of Energy Ernest J. Moniz said.
Foreign investment in Canadian oil and gas, a topic that raised governmental concern when CNOOC Ltd. of China last year announced plans to acquire Nexen Inc. of Calgary for $15.1 billion, has averaged $20 billion/year since 2007, reports the Canadian Energy Research Institute (CERI).
Smaller nations' plans to invest in natural gas should proceed with caution, according to interim results of a study by MIT Energy Initiative in collaboration with the Cyprus Institute.
Oil and gas production has begun from ExxonMobil's $4.5 billion (Aus.) Kipper-Tuna-Turrum project in Bass Strait offshore Victoria. Gas is flowing from the Tuna field while Turrum has produced its first oil.
Dallas-based independent Pioneer Natural Resources Co. has agreed to sell its equity in subsidiary Natural Resources Alaska Inc. to privately held Caelus Energy Alaska LLC, Dallas, for $550 million.
Three operators that hold oil and gas rights in Iraq's Kurdistan region have filed an arbitration action in a London court seeking to clarify contractual rights under their agreement with the Kurdistan Regional Government.
Proponents of the proposed Keystone XL crude oil pipeline said opponents' increasingly frequent protest events represent a "new normal" in efforts to keep the pipeline from Alberta's oil sands to US Gulf Coast refineries from being built.
The American Automobile Association has asked the US Environmental Protection Agency and the Obama administration to reduce ethanol mandates under the federal Renewable Fuels Standard (RFS) for 2014 until more realistic targets can be established.
Alaska's oil business faces an uncertain future.
Reservoir rocks (carbonates and sands) are mainly sedimentary in nature with interconnected pore spaces (permeability), reflecting the ease with which hydrocarbons can flow in the rock, but the presence of clay minerals or shale in reservoir rocks creates problems while interpreting well logs.
By 2020, according to industry forecasts, deepwater oil production will constitute a third of the world's total oil supply.
Propane supply-demand balances in US markets are poised to be much tighter in winter 2013 than during winters of 2011 and 2012. Tighter supply-demand balances generally result in rising propane prices–unless crude oil prices decline sharply.
Introducing transient analysis to pipeline integrity management (IM) is strongly recommended when crater-type corrosion defects are present and when threshold criteria are more rigorous than usual.
A sequence consisting of internal inspection, elimination of major defects, and subsequent pressure testing is the most efficient way to ensure the integrity and increase the operating pressure of aging high–pressure natural gas transmission pipelines.