International news for oil and gas professionals
The accepted paradigms in today's exploration industry seem obvious yet in their origins were often difficult to understand. Historically, new geologic concepts have experienced relatively slow acceptance due to perceived high risks, unfavorable price environments, and a lack of enabling technologies.
In a famous scene in the 1987 movie The Untouchables, tough cop Jimmy Malone (played by Sean Connery) colorfully illustrates the resolve needed to bring gangster Al Capone (Robert De Niro) to justice.
Tight oil formations have helped the US increase its crude production dramatically, an independent refiner conceded.
A recent study details significant US jobs gains, reduced consumer fuel costs, and robust economic growth associated with future crude oil exports, according to Kyle Isakower, vice-president for regulatory and economic policy for the American Petroleum Institute.
US Sen. Tim Scott (R-SC) introduced legislation that would reverse US President Barack Obama's administration's exclusion of four South Atlantic coastal states from active offshore oil and gas resource development planning.
Heavy-lift contractor Mammoet has completed the heavy lifting, transportation, and reassembly preparation of a Methanex Corp. methanol plant, relocating it 5,450 miles from southern Chile to a 225-acre site in Geismar, La..
The global refining and marketing (R&M) industry will continue to see pockets of earnings growth over the next year, but flat conditions overall, with product demand expected to increase modestly this year by 1.2 million b/d, according to a recent report from Moody's.
Spot prices for ethanol have increased steadily since early February, driven by logistical problems and harsh weather conditions, according to the US Energy Information Administration.
A US Coast Guard (USCG) investigation has found that a "chain of errors" led to the Royal Dutch Shell PLC conical drilling unit, the Kulluk, running aground on Sitkalidak Island, Alas., in December 2012.
Anadarko Petroleum Corp. and subsidiaries it acquired when it bought Kerr-McGee Corp. in 2006 agreed to pay $5.15 billion to settle fraudulent conveyance allegations brought by the US government and co-plaintiff Anadarko Litigation Trust in the bankruptcy of Tronox Inc.
Misconception common in US government decision-making about energy received full exposure Apr. 3 in the Senate Finance Committee.