Iran seeks large volume of capital investment to boost upstream action
Objective commentary about Iran's oil and gas industry is difficult. One could get too enthusiastic about the achievements of the Islamic revolution since 1979 or be influenced by national pride.
Pemex's Cantarell megaproject still on track
Petroleos Mexicanos's long-term project to increase crude production at its huge offshore Cantarell complex, via a massive nitrogen injection enhanced recovery project, has come under unusual public scrutiny in recent weeks, following newspaper stories alleging work delays and corruption in the awarding of contracts.
IPE regroups after board resignations
London's International Petroleum Exchange has appointed a new chairman as the first step of regrouping after key board members resigned.
CGES urges OPEC to boost oil production
The oil market is likely to experience a price crisis this winter; stock cover is still high, but it will take a big tumble in the second half of 1999.
A recent federal study in the U.S. may hint a shift in the Clinton administration's attitude toward Outer Continental Shelf (OCS) development-or it may be only posturing.
Conference eyes sustainable development
Worldwide energy consumption could rise by 60-80% by 2020, from about 200 million boed today to more than 300 million boed by 2020.
Canadian M&A activity plummets in first half
Canadian oil and gas merger and acquisition (M&A) activity showed a dramatic decline during the first half of 1999, compared with the first halves of the last 3 years.
E&P seen to have ample upside in '99
Independent exploration and production companies have made some key gains during the first half of 1999, mostly due to rising crude oil and natural gas prices.
Wingas expands underground gas storage
Wingas GmbH, Kassel, Germany, completed the transformation of its
Shell Eastern Petroleum Pte. Ltd.
and Germany's BASF AG formed a joint venture to build a $500 million petrochemical plant in Singapore. The JV, called Basell Eastern (Pte.) Ltd., will construct the plant on Singapore's Jurong Island. The plant will produce 550,000 metric tons/year of styrene monomer and 250,000 tons/year of propylene oxide. Start-up is slated for second half 2002.