International news for oil and gas professionals
Most people do the right thing most of the time. This statement is not just an adage or a pleasantry or a disappointing fortune-cookie screed.
The next possible surprise for oil and gas producers working on the UK Continental Shelf (UKCS) is one that can be seen coming.
North Dakota operators that fail to meet the state's flaring reduction targets may soon be forced to curtail oil production from wells targeting the Bakken and Three Forks formations, according to an order issued July 1 by state regulators.
Crude oil production in the US during April totaled 8.4 million b/d, with Texas and North Dakota accounting for 4 million b/d, according to data from the US Energy Information Administration's Petroleum Supply Monthly Report.
Chile is focusing its attention on natural gas to meet the country's energy demand challenges, stated Maximo Pacheco Matte, the newly appointed Minister of Energy, during a July 2 panel discussion in Houston.
During the April-September summer driving season this year in the US, regular gasoline retail prices will average $3.66/gal, 8¢/gal higher than last year and 4¢ higher than projected last month, according to a forecast from the US Energy Information Administration in its July Short-Term Energy Outlook (STEO).
Crude oil production in the Permian basin has increased to 1.35 million b/d in 2013 from 850,000 b/d in 2007.
Total SA expects to add oil and gas reserves exceeding 65 million boe to its Laggan-Tormore gas and condensate development in deep water west of the UK Shetland Islands by developing and tying back nearby Edradour gas field.
The Trinidad and Tobago government has signaled to BP PLC and BG Group that it wants a bigger share of the ownership of Atlantic LNG's Train 1 when the companies negotiate a new gas supply contract for ALNG.
BHP Billiton Ltd. has acquired a 70% stake in BP Trinidad & Tobago's (BPTT) two deepwater blocks off Trinidad and Tobago's east coast, leaving the Caribbean twin-island nation's largest gas producer with 30% interest in Blocks TTDAA 14 and 23(a).
New Zealand Refining Co. Ltd. (NZRC) said results from the first in a series of efficiency upgrades to the hydrocracking unit at its 107,000-b/d Marsden Point refinery indicate that the plant is on track to improve diesel processing and lift refining margins.
Maersk Oil, a wholly owned subsidiary of AP Moller-Maersk AS of Copenhagen, has opted to write off $1.7 billion in investments in Brazil's Wahoo and Itaipu fields while divesting its ownership share in Polvo field.
New projects will boost industrial use of natural gas in the US during 2012-20 by 19%, according to the Center for Energy Economics (CEE), part of the Bureau of Economic Geology at the University of Texas at Austin.
Ominous poll results bespeak collapse in the stature of a US president consistently hostile to oil and gas.