IHS Cambridge Energy Research Associates could be wrong
November 22, 2009
Oil Supply Set to Grow Through 2030 with No Peak Evident | www.rigzone.com
Global oil productive capacity will grow through 2030 with no evidence of a supply peak. This is a new finding based on an analysis of more than 10,000 projects around the globe. The report is titled: The Future of Global Oil Supply. An adequate inventory of physical resources are available to increase supply through 2030. Sixty percent of the fields examined were found to have production levels steady or climbing. A different oil market has recently evolved.
November 20, 2009
Aries rebuilding | www.tradewinds.no
New CEO Michael Zolotas and CFO Allan Shaw recently gave a presentation of their plans to turn around Aries Maritime (RAMS) and use it as a platform for growth. They talked about recapitalization, fleet mix, in-house technical management, chartering strategy, steamlined GA costs and the new management team. Their new focus is on dry cargo and product trades. They have dropped in six additional units from GrandUnion and recapitalized with US$ 36 equity and US$ 182 mio new debt. Let's evaluate.
Petrobras has potential to corner latin American LNG market
November 20, 2009
40 TCF Gas Recoverable from 3 Brazilian Oil Fields | www.rigzone.com
A spokesman for BG Group said that 40 trillion cubic feet of natural gas can be recovered from Tupi, Iara and Guara oil discoveries offshore Brazil. The three fields contain between 9.1 and 14 billion barrels of oil equivalent. They will transform Brazil into a major oil exporter in the next decade. Confirmation of sizeable gas reserves will quadruple Brazil's proven reserves. The natural gas could be used for domestic power generation. Last week Sao Paulo suffered a major electric blackout.
Truck Order Predictions Pretty Well Laid Out Through 2010
November 19, 2009
Truck orders indicate pre-2010 surge | www.etrucker.com
In the midst of the optimism with the recent surge in truck orders, reality is setting back in that 2010 truck orders will be slow due to the mew emissions rules - again! We have written several articles over the last 6-months about the slow truck sales marketplace leading into the current prebuy. So here’s a look ahead....
Marginal oil and gas operations disappearing in wake of financial downturn
November 19, 2009
Chevron Drops Plans for Inlet Exploration | www.rigzone.com
Chevron announced that it is dropping a program to develop more oil from aging Cook Inlet. The production workforce will be reduced by 10 percent. A statement issued by the company cited "difficult economic conditions." The company will continue to operate some platforms. Chevron said the Cook Island business would contract because of production declines, high lifting costs, financial issues and volcanic activity. Total oil production from the region is 8,500 bbl/day.
Devon looks at hole card, decides to consolidate operations
November 17, 2009
Devon Divests All GOM, International Assets | www.rigzone.com
Devon Energy plans to reposition itself as a high-growth North American onshore company. It will divest all Gulf of Mexico and international assets. Proceeds of the sales will be used to pursue opportunities in the U.S.A. and Canada and to reduce debt. The company will open data rooms and commence divestiture in the first quarter of 2010. Process to be completed by year end 2010. Then, Devon will deliver growth funded entirely with internally generated funds.
Integrated Fuel Technologies Non-Urea SCR Option Hits A Speed-Bump
November 16, 2009
Cover Story: Pipe Schemes | www.seattleweekly.com
One of the two non-urea Selective Catalyst Reduction (SCR) developers as noted in GLG articles has legal problems prompting potential major users to steer clear for now. The referenced article by Laura Onstot for the Seattle Weekly is an interesting read including alleged money, fraud, religion, mistresses and other sorted issues - but more about business issues than the technology.
Shell in Competition with Exxon in Asia
November 16, 2009
Qatar Petroleum buys assets from Shell Singapore | www.shell.com
Shell had to sell downstream petrochemical assets in Singapore to Qatar Petroleum to compete with Exxon.
FFA disputes and capital losses
November 15, 2009
Futures fray | www.tradewinds.no
FFA dispute between Marine Trade, Luxembourg, Pioneer Futures, China and Armada of Singapore ended up in London court for US Dollar settlement under the terms of FFABA master agreement. It is unclear in the article if the trade went through Oslo's Imarex and NOS clearing. Due to precipitous drop in baltic indices during 4Q08, 1Q09 such cases became common. FFAs a channel that was promoted as risk management tool for freight contracts has failed to achieve its very fundamental purpose for users.
OXY et al to redevelop 67 year old Awali oil field on Bahrain Island
November 15, 2009
OXY Forms Joint Co. to Further Develop Bahrain Field | www.rigzone.com
Occidental Petroleum Corporation, Mubadela Development Company and the National Oil and Gas Authority of Bahrain announced the creation of an operating company under a production sharing agreement signed in April of 2009. The joint company named Tatween Petroleum will begin work immediately. Composition of the redevelopment team will be mainly ex-Bahrain Petroleum Company employees. The revitalization of this old field represents a paradigm shift for the oil industry on Bahrain Island.
Big-Foot YRC Drops the Other Shoe on Shareholders
November 3, 2009
Bombardier Barbs Shows CSeries Can't Cut The Mustard
November 2, 2009
New 777 Depends On 787 Success
October 13, 2009
Airbus Lost $7.5bn+ Trying to Flog the A350XWB
August 28, 2009
Airbus A380 Struggling To Cut The Mustard?
August 24, 2009