Table of ContentsRegular FeaturesOGJ NewsletterLettersThe warming joustRegarding your editorial entitled “Obama and climate change,” thank you for a bit of sanity (OGJ, Dec. 8 2008, p. 24)!
Journally SpeakingA peek inside OGJ newsOil & Gas Journal editors supply the latest industry news, statistical studies, special reports, and technical information to the oil and gas industry through its weekly print and online magazines, daily electronic newsletter and web site formats, webcasts, conferences, and other information outlets.
Market Journal‘Vicious’ loop in oil marketEscalating oil inventories have filled most storage at the Cushing, Okla., primary delivery point, undermining US crude prices to the point West Texas Intermediate is “about as useful as a chocolate oven-glove” in assessing world market conditions, said Paul Horsnell at Barclays Capital Inc., London.
Editor's PerspectiveTV show targets wrong element of ’08 oil price leapAn “investigation” by a popular US television news show has uncovered information about oil prices that anyone familiar with the market knew months ago.
General InterestEditorial: Risky loans and ethanolBefore making any more fuel choices, Congress and the new administration of Barack Obama should compare a past governmental foray into the energy market with the mortgage industry’s disastrous unraveling.
Unconventional resources to keep pivotal supply roleFor the past several years, leading major oil companies and independent producers have believed unconventional resources to be key elements of future energy supply.
Obama’s energy, environment strategies to be ‘mixed bag’As Barack H. Obama was sworn in Jan. 20 as the 44th US president, his administration announced an energy and environment program with provisions directly affecting the oil and gas industry in several areas.
Watching Government: BLM’s Utah plansOrganizations opposing the US Bureau of Land Management’s latest Utah oil and gas lease sale were elated when a federal district court judge issued a temporary restraining order Jan. 17 preventing BLM from moving forward with the leases.
Senate confirms Salazar, Chu as DOI, DOE secretariesThe US Senate confirmed Ken Salazar’s nomination as Interior secretary and Steven Chu’s nomination as Energy secretary on Jan. 20.
MMS to publish initial 2010-15 OCS leasing draftThe US Minerals Management Service on Jan. 16 announced a draft of the proposed 2010-15 US Outer Continental Shelf oil and gas leasing program and preliminary plans for an Atlantic Coast environmental impact study.
IEA slashes 1 million b/d from 2009 oil demand outlookIn its most recent monthly Oil Market Report (OMR), the International Energy Agency slashed its oil demand outlook for 2009, and updated its demand figures for the fourth quarter of 2008.
Oil companies focus on liquidity, efficiency, analysts sayOil and gas companies report that their immediate focus is on maintaining liquidity and promoting operational efficiency in preparation for an eventual economic upswing, consultants and analysts said.
Federal judge blocks oil and gas leases in UtahThe Independent Petroleum Association of Mountain States expressed disappointment that a federal judge blocked the US Bureau of Land Management from issuing oil and gas leases in Utah.
Groups sue BLM over New Mexico oil, gas operationsThe Western Environmental Law Center and other groups filed a lawsuit against the US Bureau of Land Management, claiming the agency violated federal law in granting oil and gas leases on public land in New Mexico.
WoodMac: N. America to import more LNGImports of LNG into North America are set to increase to 4.2 bcfd in 2014 from 1.7 bcfd in 2009, according to a report by consultants Wood Mackenzie Ltd.
Petrobras to present 5-year strategic plan to investorsBrazil’s Petroleo Brasilerio SA (Petrobras), pending approval of its board, will present its latest 5-year strategic plan to investors and analysts on Jan. 26, the company said.
Obama puts Chavez on watchIf anyone in the oil and gas industry imagined the administration of US President Barack H. Obama would be soft on Venezuela, they will have to readjust their imaginings.
COMPANY NEWS: LyondellBasell Industries files Chapter 11 bankruptcyLyondellBasell Industries has filed for reorganizational bankruptcy for its US operations and Basell Germany Holdings.
Personnel Moves and Promotions: Apache founder, longtime chairman retiresRaymond Plank, founder and longtime chairman of Apache Corp., Houston, retired Jan. 15 after 54 years with the firm that he grew from a pioneer public drilling program to one of the largest publicly traded independent oil and gas producers in the industry, with international operations and a market value of $25 billion.
Exploration & DevelopmentIraq’s E&D Future —2 Impediments abound to exploiting Iraq’s vast petroleum resourceThe traditional go-slow approach of the Iraq Petroleum Co. and its associated companies, its ability to shift exploration and production to where it best served its interests and to strengthen its negotiating power; as well as Iraq’s politically-driven, confrontational oil policy, unnecessary and destructive wars, and years of sanctions, have proven to be serious impediments to the development of Iraq’s oil industry.
Drilling & ProductionOil Shale —2: New approaches overcome past technical issuesBuilding on past lessons in the US and successful efforts in Estonia, China, and Brazil, developers of oil shale technology are defining, testing, and demonstrating new approaches that overcome past technical issues such as energy use, thermal efficiency, oil yield, gas richness, water use, spent-shale management, emissions controls, and groundwater protection.
ProcessingGUIDE TO WORLD CRUDES: Statoil assays Volve crudeStatoilHydro has conducted a crude assay for its Volve field, which lies 200 km west of Stavanger (Fig. 1).
TransportationNew Caspian oil production will bypass Russian transportMost of the Caspian region’s new oil production will be transported to international markets via pipelines in Azerbaijan and Georgia, reducing Russia’s share of the regional oil transport market.
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