Aug 2011

The billions of dollars flowing to oil producers from insatiable Western consumers are restricting economic growth. Something has to give

The race is on to be Australia’s first CBM-LNG exporter, but an obstacle has been dropped on the course

Brazil’s Petrobras is ramping up its refining capacity, but the country’s prolific pre-salt upstream play corners the lion’s share of its huge investment programme

E.On Ruhrgas is taking Gazprom to arbitration over long-term gas pricing in a process that could take years – and has the potential to seriously hurt the Germany utility

With rising demand for LNG set to outstrip supply for the foreseeable future prices will, inevitably, rise in Asia and in Europe

The refining business has seen improved profitability since the start of the year – particularly in the US, where strong margins are supporting corporate restructurings

The days of traditional oil-linked prices for long-term contracts in Europe are over. New contractual mechanisms will smooth the transition to a fully liquid gas market

Libyan rebel forces last night boarded a fuel tanker belonging to Muammar Qadhafi’s regime, seized it and are sailing the vessel laden with gasoline to Benghazi

Seven licences given and eight more available

Remote location of oil-shale deposits obviates environmental concerns

$12.4 million awarded to 11 projects

Drilling scheduled to start next week at Banks shale-gas operation

Americas Petrogas’s (AP) Vaca Muerta unconventional gas-well in Argentina’s Huacalera block hit gas shows

Containing a Macondo-style blowout in Canada’s Arctic would be extremely difficult, says a new report to the country’s National Energy Board (NEB)

Petroleum Development Oman (PDO) has ordered a 7 megawatt solar, enhanced oil-recovery (EOR) system from California’s GlassPoint Solar, for use at an existing thermal EOR project in the south of the sultanate

Talisman and Chesapeake tout two new liquids-rich shale plays in Canada and the US

50% higher second-quarter profits posted by integrated sector

Precision Drilling is increasing spending on new rigs to C$841 million

Bearish inventory figures and global struggle to maintain growth drag prices

The lack of free, prior and informed consent to upstream oil and gas operations is at the heart of many social conflicts in the Peruvian Amazon

The meltdown of global financial markets struck oil and gas shares as well as commodity prices yesterday, with no let-up in the bloodbath in sight as trade opened today

Russian investors are on the verge of buying a fleet of oil tankers from Libya’s state-owned General National Maritime Transport (GNMTC), says a source close to the negotiations

The US’ huge shale-oil potential needs a step-up in drilling activity says Nighthawk Energy

A new book about the invasion of Iraq and its aftermath should trouble even the most ardent liberal interventionist. Author Greg Muttitt talks to Derek Brower

Leading investment banks see strong crude prices, despite global financial turmoil, citing stronger emerging-market oil demand and reduced production capacity as upward drivers

Nova Scotia is increasing estimates of its offshore resources following a C$15 million ($15 million) geological study it will follow up with a licensing round next spring

Pegged at 15 billion barrels by the SPE, Petrobras's pre-salt oil and gas finds may prove highly profitable. PE provides a timeline for Brazil's challenging discoveries

Canada’s oil sands are a long-term resource, requiring long-term planning, but falling oil prices threaten their short-term viability

Resources booked equal to more than 330 million barrels of oil equivalent

A new pipeline proposal from Enbridge would move Bakken oil to Texas for the first time and help ease bottlenecks in Oklahoma

Traders are taking advantage of the Atlantic-Pacific LNG price spread, but the window may be about to shut

Reconstruction of upgrading unit damaged in January fire is almost complete

Companies subpoenaed for production data on disclosed reserves

Low natural gas prices in North America suggest bubble

Merger set to be finalised by end of year

Oil markets track collapsing financial markets

Department of Energy (DOE) releases a 90-day draft of the natural gas sub-committee report

High liquefied natural gas (LNG) prices are forcing Dominion to seek re-export permission at its little-used Cove Point import terminal in Maryland, US

The Netherland’s small-fields policy makes operations in the mature North Sea play viable, says GDF Suez – the Dutch offshore still has significant upside

Oil-sands output is rising and costs are falling as new in situ technologies improve production economics

Could rising conventional and unconventional oil production in North America, coupled with falling US demand see the continent achieve its dream of oil self sufficiency?

On the verge of a momentous move to split in two, ConocoPhillips must deal with the same old dangers facing majors worldwide – oil spills and hostile host governments

South Korea has agreed a large long-term liquefied natural gas (LNG) supply deal with Shell and Total

A new E&P push is planned to revitalise the Philippines’ energy sector, but in the meantime, LNG is seen as a short-term solution to a growing power crisis

Despite worsening territorial feuds with China, the Philippines is pushing plans to license oil and gas exploration acreage in the disputed South China Sea, risking further confrontation with its powerful neighbour

The disruptive impact of unconventional gas on North American gas-market dynamics will not be replicated in Europe

Deal with Henan Provincial Coal Seam Gas Development puts it among earliest foreign ventures

Japanese utilities could buy and consume record amounts of liquefied natural gas (LNG) this August, according to a new Petroleum Economist forecast

China remains Sudan's largest trade partner, but within a few weeks the US will decide whether to remove Sudan from its list of state sponsors of terrorism

Indian firm looks to Australian expertise in coal-bed methane (CBM) and shale gas

Queensland and federal governments at odds over CBM exploration bans

Committee on Foreign Investment approves $12.1 billion take-over

Brent up to around $108/b; WTI up by $2/b to $85/b

Maintaining the status quo in Syria’s oil industry is not an option while the Assad regime uses this critical resource to suppress protest

Venezuela has toppled Saudi Arabia as holder of the world’s largest proved crude oil reserves, according to Opec

US sanctions against Syria – specifically targeting the oil sector – may have serious implications for European refiners, although crude prices are, in the short-term, unlikely to be affected

High oil prices resulting from Middle East unrest helped most of the oil majors offset production drops and record huge upstream profits in the second quarter

Queensland has been warned that the fourth coal-bed methane (CBM) to liquefied natural gas (LNG) project proposed for the state, by Arrow Energy, could have devastating effects on the environment.

Cheaper oil may be the last stimulus available for an ailing global economy

Crude prices slumped in early August, following a fall in global equities markets, continuing debt and recession fears, and the looming end of Muammar Qadhafi’s dictatorship in Libya

The world’s oil supply rose by 600,000 barrels a day (b/d) in July, to reach 86.55 million b/d, according to new monthly figures published by the IEA

Nobody’s a winner as deadlock between north and south over oil-revenue sharing and pipeline access, and onerous sanctions leave Sudanese oil production in limbo, writes Anthea Pitt

Western and Arab nations that have helped bring the rebels within sight of victory should redouble efforts to ensure they win the peace, too

Arrow Energy considers joint-venture bid for Australia's Bow Energy

Alberta’s oil-sands producers are looking to clean up their messy bedroom with tailings technologies.

The US is planning the first lease sale for the Gulf of Mexico since the Macondo spill

Large scale production set to begin earlier than initially proposed by the government

A UK company has developed an alternative for heavy oil fuel by converting refinery residues into an oil-in-water emulsion

Last April’s Deepwater Horizon tragedy shocked and changed the offshore industry – but, worldwide, deep waters are continuing to attract deep pockets

About 98% of South Sudan’s income is derived from its oilfields, but the country has not received any oil money since May

Shell and other foreign companies with operations in Nigeria’s onshore potentially face large compensation claims for past oil spills, following a case brought in London’s High Court by a local community

Libya could reach pre-war levels of oil production within four to six months of the regime's collapse

The US Geological Survey estimates about 84 trillion cubic feet (cf) of natural gas and 3.4 billion barrels of natural gas liquids lies undiscovered in the Marcellus

PGNiG aims to start shale-gas development in Pakistan's Kirthar Foldbelt basin by the end of the year

BHP Billiton is considering expanding into shale-gas exploration beyond the US in the wake of its take-over of Petrohawk Energy and the purchase of a package of assets from Chesapeake Energy

Ukraine prepares September and November talks with international shale-gas operators

One of North America’s largest natural gas producers has teamed up with a US fuel distributor to promote natural gas as a transport fuel

Crude oil prices react to news that Libyan rebels reach Tripoli

The US Environmental Protection Agency (EPA) has “dramatically overstated” the amount of methane released from shale gas wells, a new study by consultancy IHS Cera claimed.

The US diplomatic cable reported that the switch was prompted by Romania losing faith in the Nabucco pipeline

Enbridge reveals commercial agreements for virtually all Northern Gateway capacity

Greek and Turkish gas consumption is growing and will need liquefied natural gas (LNG) imports to satisfy demand, Markus Brokhof, the head of gas supply at European energy trader EGL, told Petroleum Economist

Blow for BP as US supermajor seals E&P deal in frontier Kara Sea play

TransCanada waits on Obama's decision as environmentalists step up fight

Record land buying in the Canadian province

UK gas prices jumped over 10% this week after the world’s largest liquefied natural gas (LNG) producer, Qatargas, said it would shut its facilities for rolling maintenance over the coming months

Agreement with Americas Petrogas (AP) to develop shale oil and gas in Neuquén basin.

The chief executive of EnCana’s oil-sands spin-off spearheads firm’s push for efficiency as it aims to pump 1 million b/d

China will cut tariffs and VAT on equipment for development

$800-million shale-gas exploration pact with Naftogaz