Archives March 2013

Mar
18
2013

Open Letter to Obama on Energy Policy

Congrats, Mr. President. We hope the second term, you know, without the burden of having to face another election, doesn’t make you complacent. You must be wondering why we – dealing predominantly with oil and its cousins – are writing to you. Well, we’ll come to that. In March you said, “We can’t have an […]

Mar
18
2013

Oil and Refineries

The debate is raging in full swing: the dearth of new refineries in the US. Many are surprised to see the continued increase in oil prices despite the surge in domestic oil production. Could refineries be the missing element in the equation, they wonder. ‘Why not just build new refineries and scale down the price […]

Mar
18
2013

North Dakota Oil Boom

Readers of oil-price.net have often wondered why the US isn’t self-sufficient in oil, that is, in spite of the perceived abundant reserves. They may have a point, just so. Let’s take a case to illustrate the oft repeated gasp -Why do we import oil, still. North Dakota. North Dakota is the second largest producer of […]

Mar
18
2013

American Oil Revolution

By now, you’d have heard the news (yes, the world doesn’t end on February 30, let alone on December 21) that the US is set to become the world’s largest oil producer in a decade. So, how did this great nation, perceived as emaciated on the oil front, turn around? After all, not long ago, […]

Mar
18
2013

The Sequester and Oil Prices

Well, March arrived with ‘the sequester,’ didn’t it? As you heard, on March 1, ‘the sequester’ swung into action with President Barack Obama signing an order to bump away $85 billion from the budget of Government agencies between March 1 and October 1, 2013. If there lurked some hope of a different budget plan with […]

Mar
14
2013

Cuadrilla delays UK Bowland shale work for environmental impact assessment

Cuadrilla Resources Ltd. plans to delay plans to start hydraulic fracturing in a Bowland basin shale project in Lancashire, UK, until 2014 to give the company time to get an environmental impact assessment (EIA) for some exploration wells, Cuadrilla Chief Executive Francis Egan said. Source: Oil Gas Journal  

Mar
14
2013

PetroJunin JV starts up first Orinoco oil producing well

The PetroJunin joint venture between Venezuela’s PDVSA and Eni SPA has started heavy oil production from the first well in Junin-5 giant heavy oil field in the Orinoco belt. Source: Oil Gas Journal  

Mar
13
2013

Genel working to debottleneck Iraq Taq Taq oil output

Taq Taq field, in central Iraq 50 miles east-southeast of Erbil, is the Kurdistan region’s largest oil producing field, notes operator Genel Energy PLC. Source: Oil Gas Journal  

Mar
13
2013

ExxonMobil lets contract for Hebron heavy oil project

ExxonMobil Corp. let a $1.5 billion engineering, procurement, and construction contract to Kvaerner ASA for the Hebron heavy-oil project off Canada’s eastern coast, Kvaerner said. The contract total includes some work already completed. Source: Oil Gas Journal  

Mar
13
2013

Syskonsyninskoye gas flow starts in Russia

A joint venture of Repsol of Spain and Alliance Oil Co. Ltd. of Bermuda is producing natural gas at an initial rate of 855,000 cu m/day from Syskonsyninskoye (SK) field in the Khanty-Mansiysk region of Russia. Source: Oil Gas Journal  

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