Table of ContentsRegular FeaturesOGJ NewsletterLettersFission for hydrogenIn a response to Duncan Macleod’s article “Oil industry ramps up for hydrogen vehicles,” Thomas Wyman argues that hydrogen will never be more than a “boutique fuel” (OGJ, Dec. 8, 2008, p. 26; Jan. 19, 2009, p. 14).
Journally SpeakingIncentive to drillThe International Monetary Fund again has lowered its outlook for economic output this year, now seeing 0.5% in economic growth worldwide.
Services/SuppliersServices/SuppliersRedmond, Wash., has announced relocation of the headquarters for its global oil and gas industry business to Dubai.
Equip/Software/LitEditor's PerspectiveSupply, oil use trends reshape future of refiningGrowth in production of light hydrocarbons combines with shifting patterns of oil consumption and new transportation options to reshape the refining industry’s future.
Market JournalWTI, Brent spread widensFront-month oil prices fell in mid-February to the lowest closing since late December on the New York Mercantile Exchange but at the same time increased on IntercontinentalExchange futures in Europe, widening the spread between West Texas Intermediate and North Sea Brent.
General InterestEditorial: Backward CaliforniaPartly because California officially lives in the past, Americans elsewhere must help the state deal with financial desperation.
Special Report: Pressure’s on to open EU’s energy marketsOne of the priorities for the European Union (EU), which now comprises 27 member states, is advancing its gas and electric power liberalization agenda.
POINT OF VIEW: Gabrielli steers Petrobras’s $174 billion investment planJose Sergio Gabrielli, chief executive and president of Brazil’s Petroleo Brasileiro SA (Petrobras), sat in the company’s new offices in the West End of London, which was blanketed under 10-in. of snow, and explained why the company would invest $174.4 billion over 5 years despite the turmoil and volatility in the financial and commodity markets.
Iraq battles terrorists, criminals to secure pipelinesMost of Iraq’s 7,000-km domestic oil pipeline network has been wrecked by attacks by terrorists and criminals, according to a senior government official.
ExxonMobil shrugs off latest Qadhafi remarksExxonMobil Corp., dismissing the latest statements by Libyan leader Moammar Gadhafi, said it is not concerned about remarks threatening to nationalize the Arab country’s oil industry.
Rahall: Expired moratoriums probably can’t be reimposedUS Outer Continental Shelf moratoriums that expired last September probably can’t be reimposed, House Natural Resources Committee Chairman Nick J. Rahall (D-W.Va.) said on Feb. 10.
Watching Government: Pennsylvania eyes severance taxIf anyone wonders whether the general economic recession will affect the oil and gas industry, they need look at Pennsylvania where Gov. Edward G. Rendell proposed a natural gas severance tax on Feb. 4 in his annual budget message.
Global LNG supply on rise; project costs fallingGlobal LNG supply by 2013 will jump as nearly 100 million tonnes/year (tpy) of liquefaction projects currently near start-up or under construction come on line.
Gazprom prioritizes projects in economic downturnOAO Gazprom is prioritizing gas projects, determining which projects it will proceed with, because of decreasing gas demand and challenging financing issues amid the economic downturn.
Cromarty Firth celebrates good start to 2009The Cromarty Firth Port Authority is enjoying a busy start to 2009 with the arrival of the Hutton tension-leg platform to Cromarty Firth.
Watching The World: Japan’s bow to diplomacyJapanese Prime Minister Taro Aso views the Sakhalin-2 oil and gas project as an example of mutually advantageous cooperation, giving Russia new technologies and access to the Asian market, while granting Japan new sources of hydrocarbons.
Exploration & DevelopmentShell exploring Tucumcari Cuervo area after gas findField reports indicate that Shell Western Exploration & Production LP, Houston, has been spearheading a play for gas in northeastern New Mexico’s nonproducing Tucumcari basin.
Reserves booked in remote US, Canada playsGeoMet Inc., Houston, booked proved reserves at the end of 2008 in remote gas plays in Alabama and British Columbia, the company reported.
Brazil independent gears up for explorationOGX Petroleo e Gas Participacoes SA, Brazil’s largest independent company in terms of offshore exploration acreage, plans to drill or participate in 51 wells the next 4 years in Brazilian land and offshore basins.
Total signs agreement on Libyan blocksTotal SA will convert its petroleum agreements with Libya’s National Oil Corp.
Drilling & ProductionScreenless frac-packs extend PetroChina well productionDuring field trials, PetroChina successfully installed screenless frac-pack completions to control proppant flow-back, thereby extending the life of marginally producing wells in Jidong oil fields.
Gulf of Mexico insurance availability is tighteningOil and gas companies need to very precise this year regarding their insurance needs for Gulf of Mexico operations because insurance providers report that their own financial returns are severely squeezed after a number of hurricanes in recent years.
ProcessingUS ETHANE OUTLOOK —Conclusion: Midstream, petchem players must face problems of increased ethane capacityThis conclusion to a two-part series on the outlook for US ethane analyzes changes occurring in the US ethylene industry and whether that industry can consume more ethane supplies that are poised to come onto the market.
TransportationMarine CNG opens alternate production, delivery optionsRecent offshore natural gas opportunities in US waters often share the same obstacle: a lack of pipeline infrastructure to support offshore drilling and transport the gas to shore.
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