Table of ContentsRegular FeaturesJournally SpeakingAll about OrinocoVenezuela's Orinoco oil belt made headlines in January with word that the US Geological Survey had assigned the area technically recoverable volumes of 513 billion bbl of heavy oil and 135 tcf of associated-dissolved gas in Miocene sediments.
The Editor's PerspectiveObama's speech raises tax alarm for oil industryFor the oil and gas industry, President Barack Obama's State of the Union speech on Jan. 27 contained one carrot and two heavy sticks.
Market JournalFloating inventories fallThe volume of crude in storage on supertankers at sea has fallen well below 40 million bbl from a peak of 100 million bbl last May.
General InterestEditorial: Obama's messagePresident Barack Obama to the US oil and gas industry: Get out of town. That's the message in the president's budget proposal for fiscal 2011.
Chinese oil companies invest heavily abroadChinese oil and gas companies have boosted their investments abroad since 2008 despite the global economic downturn, having committed billions of dollars into developing large fields in the Middle East and elsewhere.
Obama's speech contains good, bad news for industryUS President Barack Obama called for more domestic offshore oil and gas development in his 2010 State of the Union address on Jan. 27. He also said that it's time to end tax cuts for oil companies.
Obama renews call for oil taxes in 2011 budgetThe Obama administration proposed $36.5 billion of new oil and gas taxes as it released its proposed fiscal 2011 budget.
Watching Government: Rendell's plans in PennsylvaniaPennsylvania Gov. Edward G. Rendell gets it. His state is on the verge of a natural gas development boom, so he has ordered the Department of Environmental Protection (DEP) to hire 68 new inspectors and other employees. He also plans to ask the Keystone State's general assembly to enact a severance tax.
US Interior budget request contains cost increasesUS Interior Secretary Ken Salazar said the nation's oil and gas industry will remain an important contributor to resource management as he presented the Department of the Interior's proposed fiscal 2011 budget on Feb. 1. He also said industry would have to pay more to produce those resources.
UK offers tax boost package as 26th bidding round opensThe British government announced a package of tax incentives worth up to £12 billion aimed at unlocking oil and gas reserves in the Atlantic frontier west of Shetland?an area estimated to contain 20% of the country's remaining unexploited oil and gas reserves.
Watching The World: Swordfish? Not likely!The oil and gas industry does not usually have to worry too much about swordfish, but might that situation have to change after reports from Angola last week?
Three companies submit oil sands EIAs to AlbertaKorea National Oil Corp., Osum Oil Sands Corp., and Shell Canada Ltd. recently submitted to Alberta environment impact assessment reports concerning planned oil sands projects.
Iran condemns US Senate for gasoline sanctionsIran has condemned the US Senate for approving gasoline import sanctions against the Middle Eastern country, saying it follows Washington's traditional line of ineffective policy-making.
Indonesia rejects development plan for LNG projectIndonesia's upstream oil and gas regulator BPMigas rejected a plan of development for an LNG project proposed by Energy Equity Epic Sengkang (EEES), a wholly owned subsidiary of Energy World Corp. (EWC).
Indonesia seeks to purchase LNG carriersIndonesia's state-owned PT Pertamina said it will open a bidding round to procure ocean-going vessels to be converted into floating LNG-receiving terminals in East and West Java.
IADC/SPE: BP changes training, development focusTo meet the increasing complexity of drilling and completing wells in higher pressure and temperature environments that are deeper and have longer deviations, Scott Sigurdson, vice-president of drilling and completions for BP PLC said the company's focus now is on training and development of engineers as specialists rather than its previous emphasis on generalists.
Exploration & DevelopmentOGJ FOCUS: Fall may be imminent for Kansas Cherokee basin coalbed gas outputNatural gas production in the Kansas portion of the Cherokee basin (southeastern Kansas) for 2008 was 49.1 bcf.
TechnologyPractical equations calculate gas flow rates through venturi valvesOil field operators can use several practical equations for calculating flow rates of natural gas through venturi gas-lift valves.
Calculating high cetane 300-400° F. cut for dieselThis article provides a basis for deciding whether to evaluate a new process scheme or alter an existing one with a view toward moving a 300-400° F. cut from gasoline to diesel fuel.
Internal pressure test succeeds where other measures failDespite the promulgation of multiple standards regarding materials and methods used in pipeline construction and the adoption of these by contractors and operating companies, pipelines can and do fail.
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