US heating oil stocks remain stubbornly low despite record distillate production levels, and concerns about this winter's supply may rest more in the perception of shortage than in reality.
Chevron Corp. awarded Chinese Offshore Oil Geophysical Corp. a contract to acquire 1,165 sq km of 3D seismic data over blocks 02/31 and 06/17 in northeastern Bohai Bay, said China Offshore Oil Corp.
Harken Energy Corp. Houston, announced that it has entered into a consulting agreement with Global Ventures/Consultants Inc. to provide exploration services for the company.
Oil and natural gas products have raised our standard of living and helped make us freer, safer, and more comfortable than any people at any time in history.
As existing hydrocarbon basins mature, the hunt for substantial new reserves often requires companies to explore and operate in less-developed countries.
A gas and condensate discovery west of Istanbul in the Thrace basin of European Turkey is believed capable of rates far higher than the stabilized 12.4 MMcfd tested through small tubing, said the operator, Amity Oil NL, Perth.
The government has extended Repsol-YPF SA's concession on giant Loma de la Lata field to 2027 from the original expiry in 2017 in exchange for $300 million in cash in three payments over the next 2 years, Treasury Secretary Mario Vicens said.
Engineers at the Idaho National Engineering & Environmental Laboratory have begun to study the use of hydraulic power pulses through a drilling rig's mud-circulating system.
The first-ever, US-built, deepwater semisubmersible, ENSCO International Inc.'s ENSCO 7500, is scheduled to spud its first well this month in East Breaks Block 599, Gulf of Mexico (GOM) under a 3-year contract with Burlington Resources Inc.
The Gulf Cooperation Council (GCC) petrochemical producers, particularly small ones, need to cooperate with one another to counter the global trend of fewer and larger companies.
Low inventories, memories of last January's cold snap, tight supplies of natural gas, and renewed threats to stability in the Middle East have all contributed to new worries about US heating oil supplies for the coming winter.
British Columbia Premier Ujjal Dosanjh last week squelched an effort to lift a long-standing moratorium that prohibits drilling off his province's picturesque Pacific coast.
Growing US demand for natural gas will cause supply shortages and high prices, but it may finally focus public and political attention on producers' problems in finding and developing those resources, industry leaders said at the annual meeting of the Independent Petroleum Association of America in San Antonio late last month.
In the wake of the recently announced merger between US oil companies Texaco Inc. and Chevron Corp. and the announced $3.5 billion takeover of UK independent Lasmo PLC by another American major, Amerada Hess Corp., debate as to the implications of the continuing trend of consolidation within the international oil business has been reawakened.
Williams Field Services, Houston, last month awarded a contract for design, procurement, installation, and commissioning of pipelines to be installed in the US Gulf of Mexico late next year.
