The Organization of Petroleum Exporting Countries finally seems to have realized that it needs to find a more effective way to manage the oil market if it is to achieve its price objectives.
At the end of 1997, with the Asian economic crisis unfolding and the Organization of Petroleum Exporting Countries raising production at its now infamous Dec. 1 meeting, some industry observers claimed that OPEC was out of touch, if not moribund.
After nearly 20 years of steadily eliminating jobs, upstream producers and service companies may not have the manpower to supply the world's growing demand for oil and gas, says John S. Herold Inc. in a new industry study.
Schlumberger Ltd. and Baker Hughes Inc. have signed a memorandum of understanding to form a joint venture of the two companies' seismic units, to be called Western GECO.
Oil fields with over 100 million bbl of ultimate recovery-cumulative production plus remaining reserves-are considered giants, the gleam in the eye of any explorationist. These fields account for only 362 of the more than 31,000 oil fields of all sizes in the US.
In more than 250 horizontal wells in the Dukhan field, Qatar, the use of a thin, nondamaging XC-polymer mud system provided a more-efficient and economical system than using a thick nondamaging polymer mud system.
Since acquiring Tengiz oil field in West Kazakhstan in 1993, the Tengizchevroil (TCO) partnership has undertaken several capital investment programs and expansions that have resulted in a steady rise in crude oil production to 9.6 million tonnes per year (tpy; 220,000 boed) in 1999 from 1.5 million tpy in 1993.
Plans for a $1.7 billion crude oil pipeline between Russia and China advanced earlier this year when government officials from the two countries signed an agreement to begin construction in 2003.
Fundamental issues for the oil and gas industry came into focus last week in the announcement of international financial support for the Chad-Cameroon oil-development and pipeline project.
A new range of three screw, positive displacement, high pressure series pumps is designed for handling liquids with little or no lubricating properties, liquids that are corrosive or that contain abrasives.
A wholly-owned subsidiary of Halliburton Co. - has completed the purchase of the remaining 50 percent shares of Niigata Masoneilan Co., Ltd. (NIMCO) from Niigata Engineering Co., Ltd. (NEC).
