International news for oil and gas professionals
With Barack Obama in the White House, energy commentators never lack for subjects. Because Oil & Gas Journal editorials about Obama's energy policies have been frequent and usually negative, the question sometimes arises whether the OGJ editor dislikes the president.
Americans would profit if President Barack Obama followed the same approach on energy that he has adopted with Syria.
For the second quarter of 2013, the combined earnings of a sample of 51 oil and gas producers, refiners, and midstream companies based in the US were down 25% from a year earlier. Earnings for the first half of the year were down 18%.
Shares of federal oil, gas, and mineral revenue withheld from several western states in fiscal 2013 because of budget sequestration will be available for distribution to them in fiscal 2014, the US Office of Natural Resources Revenue said.
Efforts to reform Mexico's oil and gas regime appear likely and could provide the necessary stimulus for a North American energy alliance with Canada and the US, experts suggested at a discussion hosted by Washington, DC, think tank NDN.
The 2013 Democratic and Republican gubernatorial nominees headlined the Consumer Energy Alliance's Virginia Energy and Opportunity Forum Aug. 29 in Arlington. But a group of offshore energy experts nearly stole the show.
Apache Corp. reported after markets closed Aug. 29 that it will form a global upstream partnership with Sinopec International Petroleum Exploration & Production Corp. to pursue oil and gas projects.
CNOOC Ltd. made an oil discovery and spudded a second exploratory well on the Haute Mer A license offshore Congo (Brazzaville), said 20% interest owner Oryx Petroleum Corp., Calgary.
Tethys Petroleum Ltd. said it will simultaneously drill two deep exploratory wells in the Ustyurt basin in Kazakhstan.
The acquisition of private Black Raven Energy Inc., Denver, by EnerJex Resources Inc. would create a combined entity that owns most of Colorado's third-largest oil field and substantial other interests in the Denver-Julesburg basin.
WPX Energy Inc., Tulsa, will drill 8-10 development wells in New Mexico in 2013 near a San Juan basin oil discovery at which the first four wells flowed at commercial rates from Cretaceous Gallup sandstone.
Policy in the US for LNG exports remains a work in progress.