On OffShore Oil, Obama Offers the Audacity of Ignorance Aug 8, 2008
Naturally, it s hard for Big Oil to generate more petroleum when they cannot open new refineries, develop the Alaskan National Wildlife Refuge, broaden offshore production, nor even modernize their underwater maps. This is like screaming at Mom because dinner is late -- while blocking the kitchen door. (Human Events Online)
Most Japan Stocks Decline, Led by Commodity Producers; Papermakers Surge Aug 5, 2008
Crude oil yesterday dropped 3 percent to the lowest close since May 5, as Tropical Storm Edouard will avoid most offshore production facilities in the U.S. Gulf Coast as it approaches Texas. Nikkei futures expiring in September slipped 0. (Bloomberg -- Japan)
Obama Risks Voter Ire by Opposing New Oil Drilling Aug 2, 2008
"Please be in favor of offshore production," Steve Hilton, a retired federal government worker in Lebanon, Mo. implored Obama during a tour of a diner there Wednesday. (Newsmax)
Rising Oil Prices Swell Profits at Exxon and Shell Aug 1, 2008
Shell is also looking to make up for production lost in Nigeria, where militants attacked an offshore production vessel in June, and in Russia, where it had to sell its share in the Sakhalin Island oil and natural gas project to the state-controlled energy company, OAO Gazprom, last year. Oil and gas production fell to 3,126 thousand barrels of oil equivalent a day from 3,178 thousand barrels. (Atlanta Journal-Constitution -- Business)
Congress: The Reality Revolt Jul 31, 2008
Their bill will thus cleverly tempt lawmakers who usually oppose drilling, especially those in coastal states, by sending some of Uncle Sam's take from offshore production and using it for environmental efforts, plus give states some of those proceeds. Contacts have already been made between members of this House group and Sens. (Investors Business Daily)
Cimarex Announces Second-Quarter Production Volumes and Provides Operations Update Jul 24, 2008
Offshore production volumes averaged 20 ... Decline in offshore production is a result of an inactive drilling program, natural reservoir depletion and the December 2007 sale of operated Main Pass properties ... Remaining offshore production is being marketed for sale. (PR Newswire)
Hurricane Dolly triggers minor Gulf oil, gas shutdown Jul 23, 2008
While Dolly's path will take the threat away from the heaviest offshore production areas, the storm still poses a potential threat to three refineries in Corpus Christi, Texas ... While the 2006 and 2007 hurricane seasons had little impact on offshore production areas, the companies have prepared for a possible repeat of 2005 when hurricanes Katrina and Rita temporarily shut a quarter of U.S. oil and fuel production, sending prices to then-record highs. (Globe and Mail)
Oil rebounds as Iran nuclear talks disappoint Jul 22, 2008
Support was also provided by the threat of disruption from tropical storm Dolly, which was forecast to become a hurricane but to miss big offshore production facilities in the Gulf of Mexico. Traders remain reluctant to call a top for the market during hurricane season but oil prices staged a significant correction last week that weighed across the entire commodities arena. (FT.com -- Markets)
Republican Socialism Jul 21, 2008
House Speaker Nancy Pelosi called Bush s action on offshore production an absolute hoax. But what has Pelosi and her colleagues done in the past year to lower the price of gasoline. (Human Events Online)
Energy reality starts to bite Jul 17, 2008
The paucity of the specialized equipment needed to extract oil from such new reserves has created a bottleneck in future offshore production. The world's current fleet of specialized drill ships is booked until 2013. (Asia Times Online)
Georgia lawmakers back Bush on offshore drilling Jul 16, 2008
In a report last year, the Energy Department forecasting arm said it would take until 2030 before offshore production really got going ... Even if offshore production would play only a bit part in a broad energy portfolio, Isakson said, making it available would influence market forces that are driving up prices. (Atlanta Journal-Constitution)
Oil steady on Brazil supply concern Jul 15, 2008
Welcome to The Sydney Morning Herald. Skip directly to: Search Box, , , Text Version. (Sydney Morning Herald -- Business)
Long-term challenge to users of natural gas Jul 14, 2008
Petronas had said that its offshore production facilities and the Peninsular Gas Utilisation (PGU) system were running at full capacity to meet increasing demand. As our production is unable to meet demand, we have increased the purchase of gas from other sources beyond offshore Terengganu, a spokesman said. (The Star Online, Malaysia -- Business)
Republican Party Ad Assails Obama on Energy Jul 7, 2008
But the screen grows darker and a script appears: "No Lower Gas Taxes." "No Nuclear Power." "No New Offshore Production." "No New Solutions." As the ad ends, bold type asserts: "Barack Obama. 97 percent party line voting, 2007". ANALYSIS: The ad is the first by the Republican National Committee against Democratic presidential candidate Barack Obama. (Newsmax)
Memory of 1969 disaster colors current oil drilling debate Jun 23, 2008
Consequently, the prospect of increasing offshore production has wide acceptance among state political leaders and rank-and-file citizens ... Robert Gramling, a professor at the University of Louisiana at Lafayette and an expert in offshore production, said many workers come from other states since a standard shift is two weeks on and two weeks off. (Anchorage Daily News)
Gay Marriage Decision Ignores Traditional Values, Lacks Leadership Jun 23, 2008
In addition to the president s proposal, House Republicans are pushing the No More Excuses Energy Act, which would expand offshore production of oil and natural gas and encourage construction of nuclear plants and refineries. Republicans are not blameless. (Human Events Online)
No single solution is the answer Jun 21, 2008
Offshore production is one area where we've made progress. In 2006, I helped to negotiate the opening of 8. (Florida Times-Union)
SAFE Commends Movement Toward Lifting Ban on Offshore Oil and Natural Gas Production Jun 19, 2008
Recent polls have showed strong majorities of Americans now support increased offshore production. "As we said long before the current skyrocketing oil prices, increasing our domestic supply of oil and natural gas in a safe, sound manner is crucial to our economic and national security," General P.X. Kelley (Ret. (PR Newswire)
Schwarzenegger Against Bush On Oil Drilling Jun 19, 2008
" For a quarter-century, drilling for oil and gas off nearly all the American coastline has been banned in part to protect tourism and to lessen the chances of beach-blackening spills, but now gasoline prices top $4 a gallon.Most recently in California, roller coaster gas prices drew intense interest to Proposition 87 - a controversial initiative that failed to place a $4 billion tax on oil production in 2006.Bush's request comes a day after Sen. John McCain, the presumptive Republican nominee... (NBC 11, CA)
Crist Backs McCain on Florida Drilling Jun 18, 2008
McCain said states should be free to reap some of the revenue generated by offshore production, and he called for more domestic drilling to boost supplies and ease fuel prices. Crist, considered a possible running mate to the Republican candidate, shook up the Florida political scene by breaking the state's near-solid support for the federal ban. (Newsmax)
McCain, Bush Call For Offshore Drilling Jun 18, 2008
"Yet for reasons that become less convincing with every rise in the price of foreign oil, the federal government discourages offshore production.". Sen. (KFOXTV.com, TX)
Transcript: Energy Debate on 'FOX News Sunday' Jun 16, 2008
" SEN. KAY BAILEY HUTCHISON, R-TEXAS: Thank you, Chris. SEN. BYRON DORGAN, D-N.D.: Thank you, Chris. AMERICAN PETROLEUM INSTITUTE PRESIDENT RED CAVANEY: Thank you, Chris. WALLACE: Let's start with the most obvious solution, domestic drilling. And as prices soar, public opinion is turning around on this subject. According to a recent Gallup poll, as you can see there, 57 percent now favor drilling in areas that are off-limits. Related Column Archive Senator Dorgan, if we started drilling in ANWR,... (Fox News)
Congress Should Take on Oil Speculators, US Senators Say Jun 16, 2008
We need to do a lot of things, including additional production, including offshore production, but we also need to move dramatically toward renewable energy as well,'' Dorgan said. Increased Saudi Production. (Bloomberg)
High costs force factories to bring jobs home Jun 14, 2008
Moreover, in certain industries the advantages derived from offshore production continue to trump higher transportation costs. Electronics firms, for instance, are now clustered in Asia and gain a major benefit of proximity to one another. (AZCentral -- Business)
Voters Say 'Drill' -- but Neither Candidate Gets It. Jun 12, 2008
And while McCain favors some offshore production and has been strong on nuclear development, he is against drilling in ANWR Alaska. Then there's the oil nobody is talking about. (Human Events Online)
Nuon Agrees to Buy ConocoPhillips's Dutch Offshore Unit for $739 Million Jun 11, 2008
June 11 (Bloomberg) -- Nuon NV, the second-largest utility in the Netherlands, agreed to buy a Dutch offshore production unit of ConocoPhillips for 477 million euros ($739 million) to gain stakes in North Sea natural-gas fields. The takeover of makes Nuon a shareholder in 35 gas fields in the North Sea as well as gas pipelines and processing facilities, Amsterdam-based Nuon said in an e-mailed statement today. (Bloomberg -- Europe)
Enterprise's Repair of Independence Pipeline May Cut Gas Prices Jun 4, 2008
Independence Trail is a 134-mile (215-kilometer), 24-inch diameter conduit that connects offshore production with the Tennessee Gas system. Enterprise on April 11 declared force majeure, a legal term allowing the company to blame unexpected or uncontrollable events and avoid penalties for failing to fulfill contracts to deliver. (Bloomberg)
Fire ruptures WA gas supply Jun 4, 2008
Skip directly to: Search Box, , , Text Version. "We will begin working as soon as possible to resume production in a safe and environmentally responsible manner. "We have notified government authorities and also gas customers who will be affected by the disruption in gas supply. (Sydney Morning Herald -- Business)
The Environmental Benefits of Offshore Drilling Jun 3, 2008
These same coastal waters contain 3,200 of the roughly 3,700 offshore production platforms in the Gulf of Mexico. From these, Louisiana also produces 25 per cent of America's domestic oil, and no major oil spill has ever soiled its coast. (Townhall.com)
Energy Security: Drill, Coast Haste May 24, 2008
Clean beaches can coexist with offshore production. The mammoth reserves can be captured with little risk to the environment. (Investors Business Daily)
Gunmen Kidnap Elf Manager May 17, 2008
UNKNOWN gunmen have abducted Mrs Ijeoma Anozie, wife of the Deputy General Manager, Joint Venture (Offshore Production) of Elf Petroleum Nigeria Limited, Mr Ikechi Anozie, in Port Harcourt, Rivers State. Rivers State Governor, Chibuike Rotimi Amaechi has meanwhile expressed regrets that the one-time Garden City of Nigeria has been made unsafe by the activities of some criminal elements. (Guardian News, Nigeria)
Peers could feel pressure to copy EnCana May 13, 2008
Its assets include an Alberta oil sands project, conventional production in Canada and Yemen, and offshore production in the Gulf of Mexico and the North Sea. Cash flow from Nexen's Long Lake oil sands project, which will come on stream later this year, is expected to fund expansion elsewhere in the company's portfolio. (Globe and Mail -- Business)
Comstock Resources, Inc. Reports First Quarter 2008 Financial and Operating Results May 6, 2008
Onshore production has increased 44% and offshore production was up 6% from the first quarter of 2007. The first quarter average daily production rate of 275 million cubic feet of natural gas equivalent ("Mmcfe") also has increased 11% from the fourth quarter production rate of 249 Mmcfe per day. (PR Newswire)
AFS Reports Declining Rate of Imported Metal Castings; Optimistic Outlook for Growth in the Domestic Market Apr 18, 2008
Although China continues to lead the world in casting production (with the U.S. ranked second), the reliance on imported castings is being reduced by a variety of factors, including rising offshore production costs and increased focus by China and India on meeting the needs of their domestic markets. U.S. sales of metal castings are expected to increase 5. (PR Newswire)
Saipem spends Rp 2.5t for largest fabrication yard in Karimun, Riau Apr 7, 2008
Ismeth said the administration decided to make Karimun Island a center for maritime business due to its deep water access that can accommodate large vessels, making it ideal to serve as a shipyard and offshore production facility. "We are confident more and more international companies will come to Karimun to construct production facilities, especially those related to maritime and offshore businesses," he said. (Jakarta Post, Indonesia -- Business)
StatoilHydro strikes oil with North Sea wildcat Feb 20, 2008
The Norwegian government has been encouraging oil companies to search for more oil near existing fields to shore up declining offshore production. Discoveries near fields that are already producing are often much cheaper to develop than those requiring completely new offshore infrastructure. (Globe and Mail -- Business)
Tanjung Offshore to take delivery of five vessels Feb 4, 2008
Besides offshore support vessels (OSVs), the company is also involved in supplying Oling rigs and mobile offshore production units (MOPU). The company has a three-year order book of over RM1bil RM500mil in the supply of charter of the mobile offshore production unit as well as SERF and THE208 jack-up drilling rigs, RM250mil for Oneering equipment, RM100mil in OSVs and the remaining in maintenance service contracts. (The Star Online, Malaysia)
High oil prices prompt a scramble for Africa Jan 26, 2008
Would majors still be willing to invest in costly offshore production. CHINA, INDIA LEARNING FAST. (San Diego Union-Tribune -- Business)
Textbook shutdown a big Burrup hiccup Jan 5, 2008
It is the biggest crisis yet to hit the production facility, which began domestic gas operations in 1983 -- far greater than the shutdown in the late 1980s when the project's two offshore production platforms, North Rankin A and Goodwyn A, were upgraded to take account of the lessons from the Piper Alpha disaster in the North Sea. That shutdown led to problems in domestic gas delivery because the Dampier-to-Bunbury natural gas pipeline, Australia's biggest gas transmission system, began shutting... (The Australian)
ONGC bullish on increasing production from offshore Dec 24, 2007
ONGC bullish on offshore production ... ONGC bullish on offshore production. (Business Standard)
Feds approve plan to use oil royalties for Louisiana coast Nov 30, 2007
The U.S. Minerals Management Service, which regulates offshore production of oil and gas and oversees royalties, signed off on the plan Thursday. Louisiana is the first of six eligible states to have its plan approved and to start receiving money. (San Diego Union-Tribune -- Business)
// • • • • • • • • Company In The News:• Dril-Quip: Offshore Gear Is In Demand As Oil Search Goes Offshore Nov 27, 2007
" With healthy demand for subsea production equipment, Dril-Quip continues to see its backlog rise, West adds. Equipment It Makes Subsea equipment is anything connected to the seabed. Dril-Quip also makes surface equipment, used mainly for flow control on offshore production platforms. It also makes offshore rig equipment. Executives weren't available. But the company's backlog at Sept. 30 was about $457 million, up from roughly $288 million the prior year. Dril-Quip had a strong showing during... (Investors Business Daily)
Mexico's Pemex to resume oil production after accident Oct 30, 2007
Pemex has closed several Gulf of Mexico ports due to rough weather in the southeastern states of Tabasco and Campeche, Mexico's main offshore production centers, wells producing 600,000 barrels a day, because of the ports' closure. Editor: Sun Yunlong. (Xinhuanet, China)
Norway's StatoilHydro oil company posts 26 percent rise in 3Q profit, helped by currency Oct 30, 2007
5 percent government owned, and is the key player in Norwegian offshore production. It employs about 31,000 people in 40 countries. (San Diego Union-Tribune -- Business)
EnCana generates third quarter cash flow of US$2.2 billion, or $2.93 per share - up 27 percent Oct 25, 2007
Asset retirement obligations include those legal obligations where the Company will be required to retire tangible long-lived assets such as producing well sites, offshore production platforms, natural gas processing plants, and refining facilities. These obligations also include items for which the Company has made promissory estoppel. (Canada Newswire)
$57,000 vehicle too basic for Westel's MD Oct 24, 2007
The Chairman of the Board of Westel, Mr. Sekyere Abankwa, who quintuples as the Board Chairman of Ghana Export Promotion Council, Board Chairman of Ghana National Petroleum Company, Board Chairman of State Transport Company, Board Chairman of Saltpond Offshore Production Company, Board Chairman of yet another ailing Metro Mass Transit Company, confirmed in an interview with the Chronicle last week that he and his board approved the mouth-watering package for Ursula Owusu, the Acting Managing... (Ghana Web, Ghana)
Petra Perdana earnings upgraded after it wins RM50mil contract Oct 18, 2007
The five-year contract, which begins this month, was awarded to subsidiary Petra Resources Sdn Bhd, whichwill provide maintenance services to Shell's onshore and offshore production platforms and facilities. OSK Investment Bank, in a recent update, said while it was increasing the company's earnings estimates for the next two years, it was still maintaining a trading buy of RM6. (The Star Online, Malaysia -- Business)
Tapping a gas gusherin Indonesia Oct 11, 2007
The gas will flow from two unmanned offshore production platforms through sub-sea pipelines to an LNG processing facility on the Papua mainland. From there, super-cooled gas will be exported from a tanker terminal directly to buyers, including a contracted 2. (Asia Times Online)
Petsec makes $US110m acquisition of gas fields Oct 11, 2007
Petsec will purchase the package of onshore and offshore production assets from LLOG Exploration Co.. Assets include interests in three offshore producing gas fields in the eastern Gulf of Mexico - Main Pass 20 and 270 and Chandeleur 31/32, interests in four onshore gas fields in Louisiana, three of which are currently producing and the fourthexpected to commence production late this year. (Trading Markets (press release))
Petra Energy unit wins RM50mil contract Oct 11, 2007
It was also for the supervision and services of onshore as well as offshore production platforms and facilities in east Malaysia for five years. The new job would complement the company's existing topside major maintenance hook-up commissioning contract awarded by the same companies in 2004, the statement said. (The Star Online, Malaysia -- Business)
* Nigerian oil output falls by a quarter Oct 1, 2007
But the agency has also said that Nigeria's less vulnerable offshore production is gaining momentum, now generating 900,000 barrels a day but with the capacity to eventually add 500,000 barrels. The government's overall output target is 4 million barrels a day by 2010. (Taipei Times, Taiwan -- World)
Woodside bails out of Mauritania, Africa to follow? Sep 27, 2007
Woodside became embroiled in a dispute with the Mauritanian government around amendments to offshore production contracts and was investigated by the Australian Federal Police amid allegations of bribery. Woodside had flagged the potential sale of Chinguetti in August. (Sydney Morning Herald -- Business)
Offshore security may be bifurcated Sep 20, 2007
The ad hoc security arrangements need to be streamlined as overall offshore production of oil and gas is likely to go up. At present, ONGC is producing 34. (India Times)
Oil eases after topping $80 on supply fears Sep 13, 2007
Adding to supply concerns, Tropical Storm Humberto formed in the Gulf of Mexico, home to a quarter of U.S. oil output, shutting the Houston shipping channel and spurring worries offshore production could be shut down. Experts said OPEC's deal in Vienna on Tuesday to raise output by a half million barrels per day (bpd) starting November 1 was not enough to reverse rising energy prices. (ABC News -- Wire)
Deep Panuke offshore project gets green light Sep 6, 2007
The project includes a jack-up mobile offshore production unit, subsea pipelines and an export pipeline. Geologists estimate it will develop estimated gas reserves of 632 billion cubic feet -- enough to heat about three million homes for a year. (CTV.ca)
U.S. oil companies monitor Felix, output unharmed Sep 3, 2007
HOUSTON (Reuters) - U.S. Gulf of Mexico oil and natural gas producers were monitoring powerful Hurricane Felix as it churned through the Caribbean Sea on Sunday, but none had reported reduced offshore production or evacuated workers to onshore locations. Felix was forecast to follow the path taken last month by Hurricane Dean across the southern Caribbean into the Yucatan peninsula and then through Mexican offshore production areas in the Bay of Campeche. (ABC News -- Wire)
Remnants of Hurricane Dean drench central Mexico, move out over Pacific Ocean Aug 24, 2007
All offshore production was halted ahead of the storm, reducing daily production by 2. 7 million barrels of oil and 2. (WSVN-TV Miami, FL)
The Peak Oil Crisis: Hurricanes and Meltdowns Aug 23, 2007
The world s oil traders were so relieved Dean did not go up the Houston oil channel and figuring that the Yucatan peninsula would protect Mexico s offshore production from serious damage, they drove down the price. One sure fallout from the Dean-induced lower prices will be to stifle any incentive for OPEC to increase production at its September 11 meeting. (Falls Church News Press)
Mexico's state-run oil company shuts down most Gulf production platforms as Dean approaches Aug 22, 2007
Crude oil prices in New York dropped below $70 a barrel Tuesday as Dean's winds weakened and it became clear U.S. offshore production would be unaffected. Gasoline and natural gas prices also dropped, with traders betting the storm would have no lasting effect on Mexican output. (San Diego Union-Tribune -- Business)
Oil prices lower as hurricane fears ease Aug 21, 2007
NEW YORK -- Oil fell yesterday on forecasts Gulf of Mexico refineries and offshore production platforms would not be hit by Hurricane Dean. Crude erased some earlier losses on news that Mexico, a top US oil supplier, shut more than 80 percent of output as the storm churned toward its Bay of Campeche production center. (Boston Globe)
Major Indexes Finish Mixed Aug 21, 2007
The storm now appears unlikely to disrupt offshore production. Shortly after 4:45 p.m., crude traded down 96 cents at $71. (SmartMoney)
Shell's rocky return Aug 20, 2007
Shell planned to take seafloor corings this year, part of the groundwork for installing an offshore production plant and a subsea pipeline to shore. IMMINENT THREAT OF DEATH. (Anchorage Daily News)
U.S. Gulf oil companies prepare for deadly hurricane Aug 19, 2007
Taking a lesson from Katrina, which defied forecasts showing it would confine its damage to Florida, companies with operations from the central to western Gulf continued pulling support workers who were not essential to keeping offshore production running. The U.S. Minerals Management Service said on Saturday that 10,300 barrels per day out of 1. (ABC News -- Wire)
Economy continues to roll, led by retail and services Pay scale ... Aug 5, 2007
The charge was led by Newfoundland and Labrador offshore production, which increased 62. 5 per cent from the same period in 2006, largely because the Terra Nova oil field returned to production and the White Rose oil field had a higher output. (Chilliwack Progress)
Dresser-Rand Selected to Supply Its First Integrated Compression System for Petrobras' Offshore Platform Aug 1, 2007
Dresser-Rand has developed new integrated separation and centrifugal compression technology that gives oil and gas producers and pipeline transportation companies the ability to significantly reduce the overall size and weight of the required compression equipment particularly that installed aboard offshore production facilities. It is designed to be used onshore and aboard fixed and floating offshore platforms as well as in subsea production modules. (PR Newswire)
