More Government News

OIL MARKET STABILITY A VITAL BUT DIFFICULT GOAL

James Schlesinger Center for Strategic and International Studies Washington, D.C. We are now experiencing the first oil crisis brought on by the actions of consumers. Today's oil price runup reflects the novelty of importing nations binding together to refuse to purchase oil rather than an unwillingness or inability of producer nations to supply oil.

ACCURATE BS&W TESTING IMPORTANT FOR CRUDE-OIL CUSTODY TRANSFER

Jane Williams Oryx Energy Co. Richardson, Tex. Monitoring crude-oil sediment and water content at the field production site is essential in accurate crude-oil custody transfer operations. This is accomplished by manual methods, or on-line devices like capacitance, density, or energy-absorption analyzers. For custody-transfer purposes, sediment and water is determined by a test which follows one of the API manuals of petroleum measurement standards (MPMS).

THE COSTS OF WASTED RESOURCES

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

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.

TELEMETRY AND PROCESS INSTRUMENTS CONTROL COAL GAS PRODUCTION

Kenneth F. Raybon Meridian Oil Inc. Farmington, N.M. Bill Flowers Fisher Controls Marshalltown, Iowa Jim Johnson Vinson Supply Co. Farmington, N.M. Telemetry and process instrumentation is assisting in the production of gas from the Fruitland coal seams in the San Juan basin of New Mexico and Southern Colorado (Fig. 1). Since 1987, Meridian Oil, a wholly owned subsidiary of Burlington Resources, has been automating individual wells, pipelines, compressor stations, and produced water facilities

SOUTHERN CALIFORNIA CRUDE PIPELINE PROPOSED

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.

U.S. BRIEFS

ARCO ALASKA INC. agreed to pay a $200,000 fine to Alaska as a penalty for an August 1989 pipeline valve leak that spilled 300-600 bbl of oil on about 1.4 acres of tundra in Kuparuk River oil field. ARCO also agreed to rehabilitate the spill site and increase its field inspection, maintenance, and testing of pipelines and valves.

POINT ARGUELLO PROJECT START-UP BLOCKED AGAIN

Bob Williams Senior Staff Writer The long delayed $2.5 billion Point Arguello oil field development project off Santa Barbara County, Calif., has slammed into yet another roadblock even amid the specter of war over Persian Gulf oil supplies. Chevron Corp. and its partners in the beleaguered project will appeal Santa Barbara County's denial last week of their transportation plan to bring the project on stream. Permitting snafus have kept the Santa Maria basin project's potential 80,000

OCCIDENTAL PROGRAM AIMS TO IMPROVE OFFSHORE SAFETY

Occidental Petroleum (Caledonia) Ltd. is concentrating on improving offshore safety as a result of the Piper Alpha accident. It is using formal safety assessment techniques in design, construction, and eventual operation of the replacement for Piper Alpha, Piper Platform B, as well as Saltire Platform A. The company has taken the initiative in development of new failsafe subsea emergency shutdown valves. Fourteen such valves have been installed on the Claymore platform at a cost of 28 million

REACTING TO ENVIRONMENTAL COSTS

It's too early to call environmental extremism an endangered species. Nevertheless, voters did turn down the economy-busting environmentalist initiative called Big Green in California. And voters did reject lower-order environmental wackiness in Oregon, Washington, and New York.

WATCHING WASHINGTON NES COMMENTS

With Patrick Crow The Bush administration is due to propose a National Energy Strategy next year, but the document faces an uncertain reception in Congress. The NES process was the major topic of discussion at a Politics of Energy seminar taped last week in Arlington, Va., and televised on the Public Broadcasting System's business channel. The program was sponsored by Jefferson Energy Foundation, an industry backed group based in Washington, D.C., that seeks to educate the public on energy

ETHYL PLANS TO REFILE ON HITEC 3000

Ethyl Corp. has withdrawn its application for U.S. Environmental Protection Agency approval of its HITEC 3000 gasoline additive but plans to reapply. Ethyl said certain issues raised during EPA's review of the application could not be resolved before a Nov. 5 deadline. Discrepancies between Ethyl and EPA test data could not be explained in the 180 day review period. The company planned to meet with EPA to define areas where the agency needs more data.

E. CHINA SEA FUSS SIMMERS

Tensions have again flared among the three nations that assert sovereignty over the potentially oil rich Senkaku Archipelago in the East China Sea. Lying about 95 miles southwest of Japan and 120 miles northeast of Taiwan, the eight tiny atolls are also claimed by China. The dispute over which nation owns the Senkakus has simmered for many years, generally without overt hostility. But Japanese patrol vessels recently prevented a group of Taiwanese officials from landing on the islands, and

ECONOMY, ENVIRONMENT, ENERGY LINK CITED

The U.S. economy, environment, and energy are inexorably linked, Mobil Corp. Chairman Allen E. Murray told the American Petroleum Institute annual meeting last week in Chicago. Murray, addressing the second of two general sessions, said, "The same importance should be placed on the economy and the energy to fire it as is placed on the environment. "The impact each has on the other is seldom considered during the legislative process."

OGJ NEWSLETTER

Are oil prices headed for another crash in the spring? gliding fourth quarter demand in response to high oil prices and sluggish economies, coupled with a surprising surge in production, could spell a glut in early 1991 once the threat of war in the Persian Gulf has diminished.

Market Connections

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January 26, 2015
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