Table of Contents

International news for oil and gas professionals

The US Department of Energy plans to move carefully as it considers applications to export LNG to countries that do not have free trade agreements (FTAs) with the US, Christopher A. Smith, deputy assistant US energy secretary for oil and gas in DOE's fossil energy office, said at a meeting of state utility regulators.

A 12-year partnership between the US Department of Energy and the National Association of Regulatory Utility Commissioners is dispelling exaggerated preconceptions about LNG hazards as it identifies possible real problems state policymakers should address.

Growing natural gas use has clearly helped reduce US carbon emissions, but it can't be expected to bring greenhouse gases to desired lower levels, three experts told two National Association of Regulatory Utility Commissioners' committees on Feb. 4.

Sally Jewell's nomination on Feb. 6 to succeed Ken Salazar as US Interior secretary was indisputably a surprise. Conventional predictions had US President Barack Obama turning to a western governor or senator to lead the department during his second term.

US Sen. Lisa Murkowski (R-Alas.) announced a set of policy proposals that she said is designed to begin a national dialogue about energy.

The North American shale gas and tight oil revolution will reshape global markets, changing economic expectations and rebalancing trade flows, BP PLC said in its BP Energy Outlook 2030.

With futures markets anticipating a price of Brent crude oil of $110/bbl this year, an easing to $90/bbl appears possible in three unlikely cases, according to Panorama 2013, an annual review by IFP Energy Nouvelles (IFPEN) of Paris

Global oil demand estimates for 2012 were revised upward to 89.8 million b/d based on stronger than expected fourth-quarter data, according to the International Energy Agency's latest monthly Oil Market Report.

Continental Resources Inc., Oklahoma City, the top producer and leaseholder in the Williston basin Bakken play, said it increased its yearend 2012 proved reserves 54% to 785 million bbl of oil equivalent, 72% oil.

Griffiths Energy International Inc., Calgary, said it could begin pipeline shipments of oil from wells in southern Chad in the third quarter of 2013.

WPX Energy Inc., Tulsa, has revealed a horizontal Niobrara shale gas discovery in the Piceance basin of Colorado that the company said has the potential to ultimately more than double its current 18 tcf equivalent of proved, probable, and possible reserves.

Partners in a pilot development of the Late Devonian Grosmont formation in Alberta report progress toward commercial production of bitumen, which would be the first for the expansive carbonate.