Increase in “flaring” tied to pipeline shortages
With oil production on the rise in Texas, drilling companies are increasingly burning off the natural gas that surfaces with the oil because they can’t get pipelines in place fast enough to transport it. More »
Anadarko’s new CEO pledges to stay the course
Former investment banker Al Walker on Tuesday takes the helm of Anadarko, one of the world’s largest independent oil and gas producers, succeeding a chief executive credited with building one of the industry’s most attractive exploration portfolios. More »
ND becomes nation’s second-leading oil producer
North Dakota has passed Alaska to become the second-leading oil-producing state in the nation, trailing only Texas. More »
Oil hovers below $95 amid Europe worries
Oil prices hovered below $95 a barrel Tuesday in Asia near a five-month low amid concern about Europe’s debt crisis. More »
Oil down to near $94 on China, Europe concerns
Oil prices fell below $95 a barrel Monday in Asia amid investor concern that China’s economy, the world’s second-largest, is slowing faster than previously expected. More »
Total says gas leak stopped at Nigeria field
French oil company Total SA said Sunday it stopped a natural gas leak at one of its plants in Nigeria’s crude-rich southern delta after 54 days, an emergency that forced the firm to shut down the field and evacuate the area. More »
Oil price declines on slower China growth
Oil prices fell to near $96 a barrel Friday amid concern global crude demand will grow less this year than previously expected. More »
Cobalt remains committed to Angola after minister’s comments
Cobalt International Energy Inc., the offshore oil explorer backed by Goldman Sachs Group Inc., says it’s committed to developing oil prospects in Angola’s pre-salt basin after the government said it was free to leave. More »
OPEC boosts oil production for seventh month on Iraq
OPEC boosted crude production for a seventh month in April as Iraq, Nigeria and Libya raised output, according to the International Energy Agency. More »
New IMF Working Paper Models Impact of Oil Limits on the Economy
The International Monetary Fund (IMF) recently issued a new working paper called “The Future of Oil: Geology versus Technology” (free PDF), which should be of interest to people who are following “peak oil” issues. This is a research paper that is being published to elicit comments and debate; it does not necessarily represent IMF views or policy.
The paper considers two different approaches for modeling future oil supply:
- The economic/technological approach, used by the US Energy Information Administration (EIA) and others, and
- The geological view, used in peak oil forecasts, such as forecasts made by Colin ...
Natural gas price highest since February
The price of natural gas has soared 30.4 percent since hitting a 10-year low on April 19. More »
Field crowded in race to fill two Railroad Commission seats
May’s primary will select candidates to fill two commissioner’s chairs at the Railroad Commission, vacated as the former commissioners stepped down to seek other elected offices.
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