News

  • 15 February 2013 : Legislators Deal with Issue of Water Use During Oil Production (No Comments)
    A climate scientist warned legislators Wednesday that Texas summers are likely to get longer and drier, setting the stage for a hearing on how oil and gas producers use water in a state that remains in varying stages of drought. “Freshwater is going to be more scarce,” Gerald North, professor of atmospheric science and oceanography at Texas A&M University, told members of the energy resources and natural resources committees, recommending [More...]

  • 10 December 2012 : Iran Warns Against U.S. Oil Sanctions (No Comments)
    Western sanctions on the Iranian energy sector have prompted the industry to become more self-reliant, an Iranian executive said. Abdolhosain Bayat, managing director of Iran's National Petrochemical Co., said sanctions weren't impeding national programs. "By relying on their capabilities and knowledge, Iranian experts and manufacturers have been able to nullify the impact of sanctions so that at present many parts and equipment needed in petrochemical industry are being manufactured at home," [More...]

  • 3 December 2012 : A Texas Resident Takes A Different Approach to Defending His Property Rights (No Comments)
    Acting as his own lawyer, a retired chemist from East Texas filed a lawsuit Thursday against the state’s oil and gas regulator to try to stop a Canadian company’s pipeline from running across his property. Michael Bishop, 64, took a new legal approach to keep TransCanada’s pipeline off his 20-acre plot of land in the town of Douglass in Nacogdoches County. Bishop, who is representing himself, isn’t suing TransCanada over its [More...]

  • 12 November 2012 : Rosneft Acquisition of TNK-BP Forecasts Downturn for Russia’s Economy (No Comments)
    The mega buyout in Russian oil announced last week will transform state-dominated Rosneft into the largest oil company in the world in terms of production, bigger than ExxonMobil. Rosneft is acquiring another profitable Russian oil major, TNK-BP, from three oligarchs and BP. Once the $56 billion deal is done, Rosneft will control 40 percent of Russia’s oil output, a significant consolidation of economic clout for the Kremlin. Rosneft is headed by [More...]

  • 7 November 2012 : Gazprom to Import Gas into Bulgaria (No Comments)
    Bulgaria’s Cabinet authorized Bulgarian Energy Holding to sign an investment agreement on constructing the South Stream pipeline with OAO Gazprom  on condition gas prices are cut in next year’s supply contract. The Holding, which groups Bulgaria’s biggest utilities, and Russia’s gas export monopoly agreed to sign in November a new gas-supply contract, which involves an 11 percent retroactive price cut for the second half of 2012, along with the South [More...]

  • 31 October 2012 : Anadarko Petroleum Makes Move on Wyoming Play (No Comments)
    Anadarko Petroleum is looking to drill 125 wells in an existing oil field in southern Wyoming, nearly doubling the project’s size. The U.S. Bureau of Land Management is seeking public input on a proposed expansion in the Patrick Draw Field, a 190-well field east of Rock Springs. Anadarko plans to drill 105 oil wells, 18 carbon dioxide injection wells and two water injection wells during a nine-year period. Robin Olsen, a spokeswoman [More...]

  • 24 October 2012 : BP to Continue High Levels of Production in Azerbaijan’s Azeri-Chirag-Gunashli Oilfield (No Comments)
    BP Plc (BP/) plans to keep production at Azerbaijan’s Azeri-Chirag-Gunashli oilfield stable through 2020, halting a decline that prompted criticism from the president this month, according to the country’s state oil company. It will rise to 35 million metric tons (about 255 million barrels) in 2014 from 33 million tons next year, and then hold at 33 million to 34 million tons through 2020, State Oil Co. of Azerbaijan Chief [More...]

  • 22 October 2012 : Could the Prospect of Oil in Malawi Revitalize the Country, or Doom It? (No Comments)
    The prospect of oil under Lake Nyasa (known as Lake Malawi in Malawi) holds great promise for one of the poorest countries in the world. With an economy dependent on agriculture and one of the world's lowest GDP per capita, oil wealth could revolutionize the fortunes of Malawi's economy. At the same time, however, the experiences of some other oil rich nations on the continent point to a different possible [More...]

  • 17 October 2012 : Indonesia In Danger of Drastic Declines in Production (No Comments)
    Indonesia's declining oil and condensate production will fall a further 3.6 percent in 2012 to 870,000 barrels per day, as damaged infrastructure, aging fields and a lack of exploration investment hurt output, state oil and gas regulator BPMigas said on Wednesday. The former OPEC member was once self-sufficient in oil and gas but for years has been struggling to attract investment to halt declining oil output. Southeast Asia's largest [More...]

  • 8 October 2012 : Middle Eastern and African Oil Producers Collab to Invest $740 Billion in Exploration and Production (No Comments)
    Oil producers in the Middle East and North Africa plan to invest $740 billion on energy projects in the next five years, led by Saudi Arabia, according to Arab Petroleum Investments Corp. High oil prices will allow them to resume projects that were delayed at the height of the financial crisis, the intergovernmental energy lender said. Saudi Arabia tops the list with committed investments of $165 billion, mostly generated [More...]