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Latest Production Headlines
Oil Giants queried in wake of Shell admission
SEC questions oil giants’ reserves
ChevronTexaco, ExxonMobil queried in wake of Royal Dutch/Shell admission
Nigeria had raised concerns over Shell oil reserves
Analysts say that maintaining a big reserve base may help it secure a higher production quota with the Organisation of Petroleum Exporting Countries, the oil cartel.
Antarctica, dated news from `98
I felt this to be a pertinate article because it speaks on items I’m not familiar with since I’m a newb.
Florida State University Journal of Land Use & Environmental Law
Why keep adding to oil reserves?
Goldman Sachs, a leading oil trader, estimates that continuing to fill strategic oil reserves through this year in the United States and Europe would add more than $4.25 per barrel to crude oil prices. Petroleum economist Philip Verleger estimates that the fill over the past two years has already added $8 to $10 per barrel.
Norway and the UK: Promises and problems
Fields are depleting, and platforms are shutting down. Exploration decreases, and the discoveries made are of diminishing sizes. Few major development projects remain, and investment levels are falling.
Saudis keep oil production steady
Top OPEC producer Saudi Arabia told major oil companies and independent refiners in the United States it would hold its production level in May steady compared to the previous month, traders said Monday.
U.S. Gasoline Prices Break Records Again
The nationwide average in the past two weeks that ended Friday was $1.82 for all grades, said Trilby Lundberg of the Lundberg survey, which regularly polls 8,000 stations across the United States.
Booming China’s Crude Oil Imports Soar
Crude imports in booming China, the world’s second largest oil consumer, soared 35.7 percent year on year to 30.14 million tons in the first quarter of 2004, the official Xinhua news agency on Monday.
Higher world oil prices are bad news for the Indian economy
Higher oil prices after the general elections could well unleash the demons of inflation, particularly in a year of election expenditure and high money supply, and apply the brakes on a buoyant economy.
New Book Says Farming is Biggest Global Environmental Threat
Inefficient farming practices are helping to drive deforestation, pollution, ocean degradation and species loss, and constitute the most serious environmental threat in the world today…
Monuments To The New American Century
In the 22nd Century, naturalists will visit the historic ANWR re-created wildlife reserve which was developed after its petroleum deposits tapped out at the time of the
Richard Clarke’s Orchestra
new free essay on From the Wilderness.
Excerpt:
Clarke seems to leave a trail of breadcrumbs for those who know about the dark side of September 11. It’s as if he wants the better-informed among his readers to know that the book is really a politically pragmatic strike against a consortium of murderers, not the frank complaint against administration failure and incompetence that the media sees in it.
Saudis Point Finger at US
Adel Al-Jubeir, foreign affairs adviser to Saudi Crown Prince Abdullah, blamed record high US gasoline prices on America’s tough environmental laws and lack of refining capacity, saying OPEC’s oil production policies were not at fault.
LNG: Where Will it Go?
Neftegaz.ru Reprinted on PetroleumWorld: LNG: Where Will it Go? Excerpt:
Unfortunately, analysts believe that over the short-to-medium term there are too many projects chasing customers. For example, if Gorgon is to rely on demand only from the established Northeast Asian buyers, it is unlikely that it could contemplate production until sometime in the next decade. In fact, if all proposed plants and expansions are realized, capacity for Asian markets could outstrip demand by 50 million tonnes per year in 2010, a US study says.
OPEC cuts oil output, shunning US calls for delay
OPEC ministers agreed Wednesday to cut their daily oil production by one million barrels…
Iranian Export Line
In approximately two years, gas will be supplied to Armenia via the Iran-Armenia gas pipeline.
Oil-thirsty China sets sights on Gulf
“The two main scenarios hinge on whether China will ally with the United States to ensure stable oil supplies from the region which is virtually controlled by the US navy.”
ExxonMobil Starts-Up Major Project to Increase Norwegian Ringhorne Production
Exxon Mobil Corporation announced today that its subsidiary, Esso , will be increasing production from its Ringhorne Field in Norway with the start-up of a new process module and pipeline to develop the Ringhorne Jurassic reservoir.
Boost for North Sea after major oil find
…”Canadian oil and gas minnow Oilexco revealed that test drilling in the Brenda Field, in the outer Moray Firth, showed that the reservoir could contain more than 150 million barrels of oil.”
Trying to Squeeze More Oil and Gas From the Gulf of Mexico
…”federal officials and energy companies are making the Gulf of Mexico the focus of a renewed push to increase domestic production.”
Technology For Increasing Oil Production
On today’s edition of Canada’s Business Report, host Robert Graham
profiles an Edmonton-based company that’s developed technology that it says
can result in a marked increase in oil production.
Offshore sector’s total oil, gas production has risen ’steadily’ over past decad
Total estimates of worldwide offshore oil and natural gas production have risen “steadily” over the last 10 years.
Indonesia Says OPEC Overproducing
Indonesia’s director general of oil and gas, Iin Arifin Takhyan, says: “What I know is OPEC is overproducing around 1.6 million bpd this month”
Iran expects Kazakh oil supplies to double
…Iran expects oil supplies from Kazakhstan to double from 50,000 to 100,000 barrels per day under a swap scheme over the next two months, Iranian Ambassador to Kazakhstan Murzato Saffori said at a press conference in Almaty on Saturday.
Peering into oil’s future
Experts try to predict when the world will start running low on the natural resource that keeps all the engines running…
Weekly U.S. Oil, Gas Rig Count Down by 6
The number of rigs actively exploring for oil and natural gas in the United States decreased by six this week to 1,128.
Is Canada running out of natural gas?
another major newspaper report
Supplies adequate for next 80 years, industry says
Geologist fears production decline possible by 2011
Noble Energy Is Apparent High Bidder on 24 Blocks in Central Gulf of Mexico OCS
Noble Energy (NYSE: NBL) got 24 of 26 of the lease blocks on the Central Gulf of Mexico Outer Continental Shelf.
22 shelf blocks contain deep objectives
high bids total approximately $6.1 million
The UAE Oil Minister Said Production Cuts Depend on the Market
Obeid bin Saif Al Nasiri, the United Arab Emirates (UAE) Minister of Petroleum and Mineral Resources, says that OPEC will review its decsion to cut production in April on MArch 30th. Until then the production cuts still stand.
Iraqi Oil Output Shows Industry Close to Full Recovery
Iraqi oilmen and U.S. occupation officials peg Iraqi oil production in recent days at 2.5 million to 2.7 million barrels a day, roughly the same amount Iraq was capable of pumping before the U.S.-led invasion in March 2003.
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