International news for oil and gas professionals
The recent cold snap in Houston—with temperatures dipping into the mid-20s in parts of the city for a stretch of nights—made miserable several mornings' walks from the parking garage to the OGJ office building doors.
Anyone whose business needs the price of crude oil to exceed $70-75/bbl in order to be profitable should watch Saudi Arabia, about which a few observations follow
Having adopted its first energy reforms since 1960, when it increased already major barriers to private sector participation, Mexico will try now to temper expectations as it reverses course and implements changes that include bigger roles for outside companies, an official of its government said.
The US Department of Transportation's Pipeline and Hazardous Materials Safety Administration (PHMSA) issued a safety alert to shippers and carriers, emergency responders, and the general public that Bakken crude should be handled carefully because it may be more flammable than other grades.
A BNSF Rail Co. train carrying crude oil caught fire Dec. 30 after it struck a derailed train carrying agricultural products west of Fargo, ND. Residents of the nearby town of Casselton returned to their homes Jan. 1 after a voluntary evacuation order was lifted. No injuries were reported.
Skip Horvath will wrap up 25 years as a major official in Washington's oil and gas associations when he retires as president of the Natural Gas Supply Association later this year.
Led by the Chinese, Asian and Caspian regional national oil companies purchased half of the 10 largest deals globally in 2013, according to IHS research on energy mergers and acquisitions.
Prices for West Texas Intermediate crude, natural gas, western coal, and electricity all averaged higher in 2013 than in 2012, while the price of North Sea Brent crude, various petroleum products, and eastern coal dropped, according to the US Energy Information Administration.
Fieldwood Energy LLC has purchased certain offshore Gulf of Mexico and onshore Gulf Coast assets from SandRidge Energy Inc. for $750 million.
Prohibition of US crude oil and condensate exports is an outmoded policy that should end soon as a first step in an overall energy export reassessment and reforms, US Sen. Lisa Murkowski (R-Alas.) declared.
Policy choices during 2014 could determine whether the US realizes its full oil and gas production potential and becomes a world energy superpower, or simply continues to play a supporting role in global markets, American Petroleum Institute Pres. Jack N. Gerard said.
Global liquid fuels consumption is forecast to increase by 1.2 million b/d in 2014 and by another 1.4 million b/d in 2015, according to the US Energy Information Administration's Short-Term Energy Outlook (STEO), released this month.
To the looming unavailability in the US of incandescent light bulbs, responders logically cluster into four categories.