Insight and inspiration in turbulent times.
US regulators had formalised an investigation of whether a joint venture including Halliburton, the world’s biggest oilfield contractor, violated anti-bribery legislation to win orders for work on a Nigerian gas plant, the company said at the weekend.
New demand for LNG in the Asia-Pacific region.
Islamist terrorists targeting Westerners in Saudi Arabia continues to raise security concerns despite assurances from authorities that the situation has not reached “crisis levels,” as the kingdom’s Islamic Affairs minister claims.
BP PLC on Monday defended its method of estimating oil and gas reserves, and said that its figures would not show a “material” change when it recalculates them for submission to regulators in the United States.
Asian economies want talks with Opec as part of a strategy to improve regional energy security and combat rising oil demand and high prices, officials from the Asian Pacific Economic Cooperation (Apec) group said yesterday.
It is far from clear, experts say, whether the existing fleet can handle the new production that Saudi Arabia and others have promised in coming months.
BP is preparing to downgrade up to 3 per cent of its oil reserves, according to investment bank Goldman Sachs.
Sharyn Alfonsi looks at reports that oil companies that claim to have growing reserves have not been able to match reserves with production. The companies may have been overstating supplies.
FALL RIVER — After weeks of using signs, handouts and word of mouth to voice its opposition to the plan to bring a liquefied natural gas facility to the city, the Coalition for the Responsible Siting of LNG Facilities will soon begin spreading its message through television commercials.
Even as reserves have risen, ChevronTexaco’s annual output has fallen by almost 15 percent, and the declines have continued recently despite a company promise to increase production in 2002.
Central African leaders officially opened the taps Saturday on one of the largest private investments in sub-Saharan Africa – a 663-mile, $3.7 billion pipeline snaking from Chad through virgin rain forests to the Atlantic.
Simmons reckons that the correct price for oil so that demand is controlled while humankind comes up with another plan is $182 a barrel.
