Oil and Gas Journal - April 21, 2008
General Interest
Oil funds: threat or opportunity?
The accumulation of large oil revenues, particularly since the early 2000s, has placed oil exporting countries among the world’s largest sources of capital.

Impact of higher oil, product prices on US economy deepens
There are growing indications that high gasoline and diesel fuel prices are having an increasingly adverse impact on the general US economy, and federal lawmakers have started to respond.

WATCHING GOVERNMENT: Trouble lurks in climate bill
A climate change bill that could reach the US Senate floor in June is already generating its own heat.

US Senate adds renewable energy tax credit to housing bill
The US Senate approved an extension of renewable and alternative energy financial incentives as an amendment to a housing bill, HR 3221, by 88 to 8 votes on Apr. 10.

McCain backs halt of SPR crude purchases
US Sen. John McCain (R-Ariz.), breaking with the administration of President George W. Bush, urged the White House Apr. 10 to stop purchases for the Strategic Petroleum Reserve while oil prices are at record levels.

McCain calls for suspension of federal gasoline tax
US Sen. John McCain (R-Ariz.), the presumed 2008 Republican presidential nominee, called for a suspension of federal gasoline taxes from Memorial Day to Labor Day as an economic improvement measure.

LNG arrives at two new US terminals
Two LNG tankers arriving along the upper Texas Gulf Coast within 5 days of each other are delivering commissioning cargoes for two new LNG terminals, one in Louisiana and one in Texas.

Global offshore drilling spend to reach $80 billion by 2012
Over the next 5-year period to 2012, high oil prices will continue to drive oil and gas industry spending on offshore drilling to a total of $380 billion.

Environmental challenges predominant theme at oil summit
Oil and natural gas exploration and development and its relationship to the environment was a predominant theme at the 9th Annual International Oil Summit Apr. 10 in Paris.

WATCHING THE WORLD: Questions loom over ESPO line
How long have we been hearing about Russia’s East Siberia-Pacific Ocean (ESPO) pipeline project? The debate has been interminable.

Exploration & Development
Williston’s Bakken given 3-4 billion bbl recoverable
The Upper Devonian-Lower Mississippian Bakken formation in North Dakota and Montana, which has produced 105 million bbl of oil through the end of 2007, contains an estimated 3 to 4.3 billion bbl of undiscovered, technically recoverable oil, the US Geological Survey said Apr. 10.

Appalachian basin’s Devonian: more than a ‘new Barnett shale’
Recent reports on the successful development of Devonian organic shale reservoirs in southwestern Pennsylvanian and adjacent West Virginia have raised the speculation about this reservoir.

Drilling & Production
SPECIAL REPORT: More US EOR projects start but EOR production continues decline
Oil & Gas Journal’s exclusive biennial enhanced oil recovery (EOR) survey, p. 47 shows that the number of EOR projects in the US has increased compared with the last survey taken 2 years ago.

SPECIAL REPORT: 2008 worldwide EOR survey


Processing
Moving caustic injection point improves crude unit operations
Saudi Aramco was experiencing serious fouling and corrosion in the second preheat train in the crude unit in its Yanbu refinery.

Transportation
Field work cuts threat to suspended pipeline
Field experiments have reduced the likelihood of damage or failure of a suspended gas pipeline span as a result of pigging.

Regular Features
OGJ Newsletter

OGJ Newsletter


Journally Speaking

Managing a skills shortage
For professional workers considering transfer into the oil and gas industry, conditions cannot be better.

Editorial

Attention to future supply
Reports of major oil discoveries get quick attention from the general media these days, even when the discoveries aren’t really news or, for that matter, discoveries.

Equip/Software/Lit

Equipment/Software/Literature


Editor's Perspective

Study: Biofuels impeding struggle against poverty
Burning food for fuel is hurting hungry people.

Market Journal

Energy prices climb
The front-month contract for benchmark US crudes jumped past $112/bbl Apr. 9 following a report that inventories of crude, gasoline, and distillate fuel fell to unexpectedly low levels in the week ended Apr. 4.

Services/Suppliers

Services/Suppliers
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