Thursday, October 19, 2017

CERAWEEK – Stable oil prices shouldn’t breed complacency

March 9, 2010 by  
Filed under Oil Production

HOUSTON (Reuters) – Oil company executives should not get too complacent about how oil prices settled in the $70-$80 a barrel range over the last several months as the economic recovery has yet to catch up, the head of consultancy IHS Cambridge Energy Research Associates warned ahead of the CERAWeek conference next week. While crude […]

Rising oil sands costs ‘a worry’

March 9, 2010 by  
Filed under Oil Production

As energy giants rush back into the oil sands, surging demand for labour and equipment threatens to drive construction costs skyward once again. “It’s a worry,” said Steve Laut, president of Canadian Natural Resources Ltd., one of Canada’s biggest energy companies. Mr. Laut in the past had called on the industry to carefully schedule its […]

The heat continues to rise on the cost of producing shale gas

March 9, 2010 by  
Filed under Oil Production

I try not to get into arguments over other people’s religious convictions. Even if you win your point, you make an enemy. That’s been a conventional understanding since the Thirty Years War. Sometimes, though, you have to clear your throat and carefully offer a heretical thought, if lives or large amounts of property are at […]

How Long Until Peak Natural Gas?

March 9, 2010 by  
Filed under Oil Production

There are many scientists and even oil company executives who subscribe to the theory of “Peak Oil’. Many believe that we reached peak oil in 2008 and the global recession, which led to a drastic reduction in the amount of oil being consumed, is the only reason prices fell. What many people who continue to […]

Plumbing the depths

March 9, 2010 by  
Filed under Oil Production

Plumbing the depths A recent wave of advances is enabling oil companies to detect and recover offshore oil in ever more difficult places IN OCTOBER 1947 a group of engineers from Kerr-McGee, an American oil company, drilled the world’s first offshore oil well that was completely out of sight of land. Located 17km (10.5 miles) […]

Iraq Opens Up to Foreign Oil Majors

March 9, 2010 by  
Filed under Oil Production

BP Plc and Exxon Mobil Corp. took the best deal they could get in Iraq last year when they won the largest oil contracts since addam Hussein was toppled in 2003. Oil companies may wait a long time to get a better one. Parliamentary elections may produce a weak or unstable government incapable of tendering […]

Baker says more Iraqi oil good for stability

March 8, 2010 by  
Filed under Oil Production

Iraq’s expected transformation into one of the world’s top oil producers will improve the Gulf’s stability and US energy security, a former US secretary of state says. James Baker, who served most recently as the head of an official panel to critique US strategy in Iraq, said yesterday that Iraq’s drive to increase oil output […]

Russia February Output Nears Post-Soviet Record on TNK-BP Gains

March 8, 2010 by  
Filed under Oil Production

(Bloomberg) — Russia crude production neared a post-Soviet record in February as TNK-BP, the venture owned by BP Plc and a group of billionaires, raised output at new fields in both western and eastern Siberia. Crude production reached almost 10.08 million barrels a day, a gain of 3.3 percent from a year earlier and 0.2 […]

Peak oil? How about snake oil!

March 8, 2010 by  
Filed under Oil Production

I keep hearing about peak oil. We are running out of oil. The price can only go one way – up. US production peaked in the 1970s, and as fields decline, they’re producing less and less (the average decline in production is 9% a year once a field has passed its peak). No one is […]

PDVSA could drop Curacao refinery lease – report

March 8, 2010 by  
Filed under Oil Production

CARACAS (Reuters) – Venezuelan oil company PDVSA may withdraw from the 320,000 barrel-per-day Isla refinery it operates in Curacao to protest U.S. military operations on the Caribbean island, Ultimas Noticias newspaper reported on Saturday, citing an interview with Venezuela’s oil minister. Venezuela may order state-run PDVSA to abandon its lease of the Isla refinery because […]

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