PETROVIETNAM is pushing forward aggressively with development of the large Hai Thach and Moc Tinh gas project off Vietnam’s south-east coast that it took over last year from supermajor BP.
IT HAS taken 12 long years, but drilling for oil is set to resume any day now off the remote, windy Falkland Islands in the South Atlantic.
US President Barack Obama is seeking to repeal billions of dollars in tax incentives for the domestic oil and gas industry as part of the $3.8 trillion budget for 2011 he handed over to Congress this week.
A representative of the Gazprom-led Shtokman Development acknowledged this week that the company is trying to keep the weight of the floating production unit for the Shtokman gas field “under control” — one of the reasons the timeline for the development project has come under pressure.
US independent Anadarko may be looking to fast track the development of its Lucius discovery in the deep-water Gulf of Mexico in concert with the adjacent ExxonMobil-led Hadrian find and the undrilled Phobos prospect to the south.
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Half a tank: US oil demand has taken a slide
US oil demand in December came in 794,000 barrels per day less than previously estimated and down 1.52 million bpd from a year earlier, the Energy Information Administration (EIA) said today.
December demand was revised down by 4% from the EIA's early estimate of 19.993 million bpd to the agency's final demand number of 19.199 million bpd.
The figure is a 7.3% drop on demand of 20.719 million bpd a year earlier.
| BP exec warns of global gas shift |
| Hyundai lifts Goliat floater job |
| Seismic player sounds out Falklands |
| Dubai ‘finds new offshore field’ |
| Ghana lays down Jubilee law |
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