OTC: U.S. fuel cutbacks might not be enough

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The chief economist of the Paris-based International Energy Agency told an audience at the Offshore Technology Conference today that lower U.S. demand growth pretty much doesn’t matter in terms of denting triple-digit oil prices. Fatih Birol says China, India and the Middle East are growing enough to more than compensate for slowing or flat U.S. […]
Categories: General

OTC: Petrobras eyes more refining capacity

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Petrobras could decide as early as its board meeting Friday if it will buy Valero Energy’s refinery in Aruba, officials with Brazil’s national oil company said today. The company’s directors will discuss whether to move forward with plans to buy the 275,000 barrel per day refinery, company leaders said. But “we are not committed to […]
Categories: General

OTC: Has the term 'deepwater' become outdated?

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The federal office that regulates oil and gas production in the Gulf of Mexico released a report at OTC showing that 72 percent of the crude oil produced in the Gulf now comes from deep water fields. It’s a dramatic figure considering deepwater oil production in the Gulf did not exist until 1979. But elements […]
Categories: General

OTC: Deep energy thoughts

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Chronicle file Amy Myers Jaffe The chief economist for the Paris-based International Energy Agency is headlining a lengthy discussion of energy security at the Offshore Technology Conference today. Fatih Birol will join Amy Myers Jaffe, an energy analyst with Rice University’s Baker Institute for Public Policy and several other economists and researchers to talk about […]
Categories: General

OTC: Devon Energy, this Bud's for you

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In a speech Monday, Devon Energy Vice President Tony Vaughn slipped in a little reminder about how just how big his company has become, in case the firm’s growth had gone unnoticed in recent years. The nation’s second-largest independent oil and gas producer, based in Oklahoma City and with offices in Houston, currently has an […]
Categories: General

OTC: A gusher of good eats

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Inflation-fueled food prices racked are old news at the Offshore Technology Conference. A burger, fries and a Coke can cost $16 for this captive audience. But few if any complain — keep the receipt and expense it. However, those seeking less pricey eats can take advantage of the freebie food in hundreds of booths. Some […]
Categories: General

OTC: Bursting with international flair

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Steve Campbell/Chronicle Moho Samiuddin Ahmad of Oil & Natural Gas Corp. Ltd. of Mumbai, India, looks at three pieces of equipment at the BJ Services booth today at the OTC. Oil’s global flavor is everywhere you look at this year’s Offshore Technology Conference. The annual mega-gathering always brings companies from around the world, and this […]
Categories: General

OTC: Heavy crude a heavy user of water

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In recent years, the oil sands in Canada have attracted massive investment from U.S. oil companies in search of new sources of oil in friendly regions. Environmentalists, however, have been less enthused, raising red flags about the high carbon emmissions associated with extracting the molasses-like heavy crude from the region. That issue is sure to […]
Categories: General

OTC: Higher cost of living hits oilfield companies, too

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The oil and gas industry may love $100+ oil prices, but it is less fond of the higher and higher costs related to finding and producing crude oil. In a panel discussion this morning at the Offshore Technology Conference, executives from several different pockets of the industry compared notes for dealing with those costs. One […]
Categories: General

OTC: Making waves in the energy industry

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Bloomberg News Hurricane Ivan wreaked all sorts of havoc in the Gulf of Mexico nearly four years ago, such as this crumpled Ensco drilling rig. Waves are always an area of focus at the Offshore Technology Conference: How to improve forecasting of hurricanes, and their damaging waves. How to build better equipment that withstands waves. […]
Categories: General