The Bi-Partisan Politics of Oil
How big oil shapes US policy, through both the Democratic and Republican parties. Long, detailed article.
Industry
Oil Prospecting Under Kremlin Watch
As the Russian government moves to reassert its sway over
the country’s lucrative energy business, the British oil and gas
giant BP would seem to be an obvious target. The company’s 50-50
Russian venture, called TNK-BP, is posting record profits, and now
pumps one of every five barrels of BP’s worldwide oil supply.
Mexico’s energy problem – Oil, politics a difficult mix
MEXICO CITY — While record-high oil prices have filled the coffers of Pemex, Mexico’s state-owned oil company, experts say the good times mask a looming problem in the country’s energy sector.
The Cantarell oil field in the shallow waters of the Gulf of Mexico, Mexico’s biggest, is running low. Exactly when it will run out, nobody knows.
Fear of new Shell reserves downgrade
ROYAL Dutch/Shell yesterday raised fears that it may have to write down its reserves by more than 1.5 billion barrels — 10 per cent of its total reserves — after the Anglo-Dutch oil company admitted that it was considering its fifth “volume adjustment” this year.
Dwindling Supply vs. Abundant Oil: A Timely Debate
Talks and presentations delivered at a session of the Society of Petroleum Engineers (SPE) on dwindling oil supplies.
Oil price will drop, says BP
“I think it is not helpful for the world to believe that we are running out of oil.” LORD BROWNE, BP chief executive
Exxon Mobil production rises slightly, profits boom
Total output rose 1 percent to the equivalent of 3.91 million barrels of oil a day as Chief Executive Officer Lee R. Raymond added production from the $3.4 billion Kizomba A project in deep waters off the coast of Angola. Other projects began producing in the past year in the North Sea and off Equatorial Guinea.
The impact of new projects was almost outweighed by a 14 percent drop in U.S. gas output, asset sales and production- sharing contracts under which the company gets fewer barrels of crude from certain fields as prices rise.
ConocoPhillips oil & gas production declines
Third-quarter oil output fell 7.6 percent from a year earlier, and natural-gas production slid 5.9 percent, partly because of asset sales, ConocoPhillips said.
Oil production rose from wells in Vietnam and the Timor Sea and declined everywhere else, the company said. Gas output fell everywhere the company did business except Norway and Vietnam.
Ex-Aramco VP: Oil supplies ‘over-estimated’
Channel 4 News has been told by a top Saudi oil industry insider that the American government’s forecast for future oil supplies are a “dangerous over-estimate”. Sadad Al Husseini has just retired as vice-president of the Saudi oil company Aramco.
Halliburton whistle-blower’s claims to be investigated
The Army has agreed to a Pentagon investigation into claims by a top contracting official that a Halliburton subsidiary unfairly won no-bid contracts worth billions of dollars for work in Iraq and the Balkans, according to Army documents obtained Sunday.
The State Jumps Back into the Market
A decade after the controversial privatisation of Argentina’s oil, gas and power industries, the state is staging a return to the energy sector with a new company created to influence a market controlled by a handful of mainly foreign companies.
‘Book cooking still rife’ claims Enron whistleblower
Speaking on the issue of Sarbanes-Oxley and highlighting the need for tighter compliance legislation, the key whistleblower at the heart of the Enron scandal has warned that ‘cooking the books’ is still very much a part of corporate America.