Table of ContentsRegular FeaturesOGJ NewsletterJournally SpeakingCommodity prices, field costsOperating companies aren’t among the businesses in the US asking for taxpayer dollars to be bailed out due to historic fluctuations in oil and gas prices the past 2 years.
Equip/Software/LitServices/SuppliersEditor's PerspectiveSmelly political, financial reports gag DemocratsNot that Republicans haven’t exploded their share of stink bombs in recent years, but the week ending Dec. 12 was especially malodorous for Democrats.
Market JournalAnother year without SantaWith the Christmas holidays approaching, members of the oil and gas industry are anticipating stockings full of rocks from the new Santa-elect in Washington, DC, while other industries’ wishes for bundles of cash will come true.
General InterestEditorial: Confusion in a rocky yearA rocky year in the oil market approaches its end with important, if confusing, developments.
New estimates boost worldwide oil, gas reservesLarger estimates for Venezuela have increased worldwide oil and gas reserves from previous estimates, according to Oil & Gas Journal’s annual survey of proved reserves.
Deloitte: Oil demand growth will outlast ailing economyAn ailing global economy will stall oil demand growth for a while, but industry must prepare itself to fulfill long-term growing global oil demand, speakers said Dec. 10 at Deloitte LLP’s energy conference in The Woodlands, north of Houston.
Deloitte: US needs 50-year energy strategyA national energy council should be established in the US to develop a 50-year energy strategy, with the council developing benchmarks to monitor progress and making regular public reports, said economist Joseph Stanislaw.
Deloitte: Oil executives show support for alternative fuelsMost senior oil and gas professionals participating in a recent survey said they are thinking increasingly about how their companies can participate in a US transition to renewable energy and alternative fuels.
House panel chairmen: CWA enforcement has declinedEnforcement of the federal Clean Water Act has deteriorated badly under the Bush administration, two US House committee chairman charged on Dec. 16. Violations involving oil spills make up nearly half of the CWA violations which have been detected but not addressed, they added.
Watching Government: Colorado’s new oil and gas rulesWant a glimpse of one of 2009’s potentially biggest domestic production issues?
EU reaches ‘three 20s’ energy-climate agreementThe 27-nation European Union reached a unanimous agreement on the climate-energy package at its Dec. 11-12 summit.
COMPANY NEWS: Nippon Oil, Nippon Mining to mergeJapan’s leading refiner Nippon Oil Corp. and sixth-ranked Nippon Mining Holdings Inc., faced with sluggish domestic demand for gasoline, plan to merge into a holding company.
Watching World: Shell pauses Corrib projectI n the oil and gas business there are times when projects come to a standstill or even halt altogether.
Exploration & DevelopmentSouthwestern to probe new areas, won’t accelerate Fayetteville in ‘09Southwestern Energy Co., Houston, which had planned to accelerate its Mississippian Fayetteville shale play in Arkansas in 2009, will instead keep about the same level of activity as in 2008.
New Zealand offers Northland, Raukumara blocksNew Zealand Crown Minerals offered six exploration blocks in the Northland basin northwest of Auckland and two off East Cape in the Raukumara basin off the North Island.
Busy 2009 seen in western NewfoundlandVulcan Minerals Inc., St. John’s, expects a busy year in several exploration plays in Newfoundland and Labrador in 2009.
More West Texas overthrust exploration setCantex Energy Corp., San Antonio, in partnership with Big Canyon Energy, signed an exploration and development agreement with Slawson Exploration Inc., Wichita, covering the Big Canyon prospect in Terrell County, Tex.
Drilling & ProductionTriangle developing shale gas onshore NSCalgary’s Triangle Petroleum Corp. is using expertise honed in Texas’ Barnett shale and Arkansas’ Fayetteville shale to develop shale gas resources in eastern Canada’s Maritimes basin.
Thermal heavy-oil recovery projects succeed in Egypt, SyriaTo increase oil recovery from existing fields, operators in both Egypt and Syria have started producing heavy oil with thermal enhanced oil recovery processes.
ProcessingWorldwide refining capacity growth rises again in 2008In 2008, growth in crude distillation capacity continued to build on momentum of past years; refiners added more capacity than the past 2 years, according to the latest OGJ Refinery Survey.
TransportationSerbian, Russian pipeline accord enhances European gas securityEnergy agreements reached earlier in 2008 between Serbia and Russia enhance the security of European natural gas supply, despite perceived competition between the South Stream pipeline (included in these agreements) and the Nabucco pipeline.
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