More Oil & Gas Reserves News

COMMENT MAINTAINING, HIKING PRODUCTION TIED TO GIANT FIELD REPLACEMENTS

Oct 22, 1990 E. John P. Browne Managing Director and Chief Executive Officer BP Exploration London Adapted from an address to the Society of Exploration Geophysicists annual meeting in San Francisco. My main subjects are the world oil supply/demand balance, the role of the world's largest fields in securing the balance, and the need for the industry to extend exploration into areas of difficulty. However, the immediate world situation cannot be ignored.

WATCHING WASHINGTON AGA'S BUD LAWRENCE RETIRES

Oct 29, 1990 with Patrick Crow George H. (Bud) Lawrence, driving force behind the American Gas Association for 14 years, retires this week. Lawrence has been president of AGA during some of its most trying times but never lost his enthusiasm for the potential of gas in the U.S. or the energy to lobby for it. Michael Baly III, AGA executive vice-president and CEO, will succeed Lawrence. Baly joined AGA in 1977 and became vice-president of governmental relations in 1979.

INTERNATIONAL BRIEFS

Oct 29, 1990 CAMEROON let an 18 month contract to study proposed development of its gas resources to Gaz de France unit Sofregaz and Beicip, both of France, The study, the first phase of Cameroon's national gas development plan, will cover potential and available gas and LPG reserves, projection of their potential demand, evaluation of various options for development, estimation of investment costs and infrastructure needs, and training.

U.S. BRIEFS

Oct 29, 1990 EXXON CO. U.S.A. agreed to pay $26,000-65,000 in restitution to wholesale buyers of its refined products in North Carolina to settle a deceptive trade practices suit filed by the state attorney general. Exxon also promised to honor its posted prices for refined products and make no retroactive price hikes. The company said the dispute resulted from Aug. 3 invoicing mistakes caused by a computer error (OGJ, Aug. 20, p. 32).

COMPETITION INCREASES TO OBTAIN OIL IMPORTS

Oct 29, 1990 L.F. Ivanhoe Novum Corp. Santa Barbara, Calif. Many oil analysts assume that the numerous non-OPEC countries will always be able to make up any shortage in U.S. oil supplies that previously came from OPEC nations like Kuwait or Iraq, thereby keeping prices down. Unfortunately, there is no good evidence for this wishful case. The first economic law of supply versus demand applies particularly to all-essential crude oil, where the ubiquitous global consumption is almost 1 trillion (million

LIBYAN EXPLORATION, GAS PROJECTS ADVANCE

Oct 29, 1990 A group led by Lasmo plc, London, has signed agreements to explore three blocks in Libya. Meantime, Libya is pressing a campaign to develop and utilize more domestic gas reserves with gas processing and pipeline projects. Lasmo's exploration deal, in 50-50 partnership with a group of South Korean companies, covers two offshore blocks and one onshore block. Area NC173 involves the 7,602.68 sq km Block 1 and 16,030 sq km Block 2 in the Gulf of Sirte portion of the Sirte basin. Area NC1 74

CHEVRON PUTS OMANI INTERESTS ON THE BLOCK

Nov 5, 1990 Chevron Corp. has put its Omani exploration and production assets on the auction block. Chevron said the move represents the first time producing properties have been offered for sale in Oman. It offers a "unique entry opportunity for a company looking for a stable source of Middle East crude," Chevron said. The offering is part of Chevron's restructuring. It also is seeking bids on its U.K. North Sea and Spanish upstream interests, efforts previously announced. Chevron will begin taking

ROMANIA'S FUEL CRISIS WORSENS; ALBANIA SEEKS SOVIET OIL

Nov 5, 1990 Pravda reports Romania has disclosed more specific details of its worsening fuel crisis. And a surprising initiative from reclusive Albania suggests improved prospects for imports of Soviet oil and western joint ventures, reports Rabochaya Tribune. Bucharest reports that in the first 9 months of 1990, oil production fell 12%, natural gas flow by about 20%, and coal extraction by 36%. Romanian officials say the nation's economy has been in a tailspin since the start of the year, following

THOSE DREARY U.S. OIL FLOW SIGNS

Nov 5, 1990 In a period of extraordinary oil market volatility, the U.S. has received some sure signs about its energy future. While certainty is refreshing, the signs are discouraging. The signs appeared last month at Independent Petroleum Association of America's annual meeting. First, IPAA's supply/demand committee projected further big declines in U.S. crude oil production this year and next. Then the Interstate Oil Compact Commission reported that the U.S. oil resource continues to be

OREGON, WASHINGTON DEEP STRUCTURES MAY MERIT FURTHER SEARCH

Nov 12, 1990 Saleh M. Billo King Saud University Riyadh Oregon and Washington probably have a number of potentially productive areas such as Bellingham basin, Willamette trough, etc., that will require further exploration. Many structural provinces may be compared with the major productive parts of the Western Overthrust Belt in the Great Basin, which covers most of Nevada, much of western Utah, and extends into California and Oregon. Serious consideration should be given to deep drilling in order to test

SOUTHERN CALIFORNIA CRUDE PIPELINE PROPOSED

Nov 12, 1990 Bob Williams Senior Staff Writer The saga of getting giant Point Arguello field on stream off California has taken new twists and turns. Cajon Pipeline Co., Cypress, Calif., has proposed a 122 mile, 20 in., 150,000 b/d heated crude oil pipeline in southern California to move heavy crude from Offshore California and San Joaquin Valley oil fields to the Los Angeles basin.

THE COSTS OF WASTED RESOURCES

Nov 12, 1990 Another U.S. oil industry hope has run aground. Ever since the Exxon Valdez spill of 1989, industry leaders have looked ahead to "the next oil crisis" as their best chance to improve federal oil and gas leasing. That crisis has now entered its fourth month. And leasing policy just got worse.

U.S. BRIEFS

Nov 12, 1990 ENVIRONMENTAL PROTECTION AGENCY gave companies owning 1-12 underground storage tanks another year-until Oct. 26, 1991-to meet its bonding requirements. The extension also applies to nonmarketing companies whose net worth is less than $20 million. EPA said the extension will provide tank owners time to make their facilities insurable and give states more time to develop their bonding programs.

INTERNATIONAL BRIEFS

Nov 12, 1990 CANADA'S NATIONAL ENERGY BOARD approved continuing rolled-in tolling for TransCanada PipeLines' proposed $2.6 billion expansion of its Alberta-Quebec system, a major milestone in the project's permitting process. The project calls for 1,600 km of loops and 300,000 hp of added compression to boost throughput capacity by 832 MMcfd. TransCanada expects the work to be complete by Nov. 1, 1992.

MIDDLE EAST PROBLEMS GLOBAL BECAUSE OF OIL

Nov 12, 1990 Melvin E. Conant Conant & Associates Ltd. Washington, D.C. Whatever the outcome of the crisis with Iraq, win, lose, or draw, Saddam Hussein should be viewed as the latest in a series of Middle East figures whose capacity to make trouble is self-evident but who is also not unique on the Middle East stage; nor is he the last of his kind. By invoking the themes of political reform and of opposition to the intervention of foreign powers in Arab affairs-whatever the reasons for their presence-he

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Refinery Units and Equipment for Sale (PA). Pictured: LSG: Gasoline Desulfurizer, 65,000 BPD.

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