News from April 2005

Quarterly Oil Production from Majors Dropping

According to quarterly reports, average daily production of crude oil and natural gas liquids from eight major oil firms dropped by some 304,000 barrels per day (-2.8%) during the first quarter of 2005 as compared to the prior year. Combined liquids production for these firms dropped to 10.475 million barrels per day (mbpd) in 1Q [...]

Iraq May Triple Oil Output by 2012

Once foreign energy companies return to Iraq after it is safe for their workers, the country should be able to triple its crude oil production to 6 million barrels per day, IraqDawn

Aberdeen Banker Seals First Moscow Energy Deal

ENERGY investment bank Simmons & Company has concluded its first deal in Moscow and aims to open new bases in the Far East and Middle East as part of an expansion plan to take advantage of surging interest in the energy sector. The eastern hemisphere operations of the Houston-headquartered bank are run by Colin Welsh, [...]

Out to Shock the World over Saudi Reserves

AS President George W Bush strolled around his Prairie Chapel ranch in Texas last week with Saudi ruler Crown Prince Abdullah, oil prices were high on the agenda during talks between the leaders of the worldSunday Herald

Greenhouse Gases Buried at Sea

As governments grapple with global warming, the world’s oil giants are planning to use new technology to store millions of tonnes of CO2 under the sea, reports Sylvia Pfeifer. The Miller field in the North Sea has been pumping out oil and gas for more than two decades. But today, with production in decline, it [...]

Doubt Over Oil Reserves Fuels Tussle with Bank

CANADIAN oil firm Oilexco is believed to be coming under pressure from the Royal Bank of Scotland following the revelation that its Brenda field in the North Sea could hold only half as much oil as was previously claimed. The companyScotsman.com

Hydrogen, Other Energy Systems Enable Home to be Efficient and Self-Sustaining

But the residence the couple and their two young sons will soon occupy is about much more than sleek architecture and striking desert scenery. ItEast Valley Tribune

Iran May Resume Nuclear Program Should EU Talks End

Iran might resume its nuclear program as early as next week should the Islamic Republic fail to reach an agreement with the European Union on the suspension of uranium- enrichment activities. Iran is building a heavy-water nuclear reactor that it says is for generating electricity and the country has rejected calls by the U.S. for [...]

Car Buyers Think Hard and Long Distance About Mileage

Down at the automobile showroom, red-hot gas prices are melting the rules Los Angeles Times via Yahoo! News

North Slope Oil Companies in Alaska Gamble on Heavy Oil for Big Payoff

BP and ConocoPhillips are betting that heavy oil in Alaska will result in a big payoff. Heavy oil – which has the consistency of thick molasses instead of olive oil – lies in sandstone above the huge reservoir of North Slope light oil that has been flowing down the trans-Alaska pipeline since 1977. With that [...]