GLG News by Oil and Gas Industry Experts (Gulf of Mexico)

A wise friend once told me that a cobra is not a danger in and of itself. It is only a danger if one is not aware of it's presence and if, upon becoming aware of it's presence one takes a wrong action and is bitten by the cobra. So it is with inflation. It is not so much that it is here, it is reaching...

Robert F. Worth in Jidda and Jad Mouawad in New York reported in the June 24 issue of the International Herald Tribune that the global energy summit ended in disagreement. Yet the Saudis made a pledge of increased production. The meeting was a success because of the large attendance. Participants offered...

I cannot exactly explain what they mean but I can provide some insight.

It is never fun to go to a party and realize that the hosts were just looking for something to do and needed a cover story but never really wanted you there to begin with. Equally unpleasant is to go to a party and find out that your expectations were completely wrong as to what it was all about....

  Simon Webb (Reuters) in Jidda reported in the June 21-22 issue of the International Herald Tribune that the energy powers will hold an emergency meeting on Sunday. The object of the meeting is stop the upward spiral of crude oil prices. The Saudi government in Riyadh summoned the chief executives...

Jad Mouawad reported in the June 21 issue of the International Herald Tribune that Chevron’s CEO, David Reilly spoke on access to offshore drilling in the U.S. O’Reilly, en route to Saudi Arabia to attend the emergency energy summit, said that the U.S. Congress should allow more offshore drilling. They...

Anyone experienced in China understands what is said publicly and what the true political motivations are is usually a fairly wide distance from each other. There is no difference here. China's reduction of subsidies has more to do with helping their refineries margins than an attempt to dampen demand....

Andrew Kramer in Baghdad reported in the June 19 issue of the International Herald Tribune that the big oil dogs had assembled to ink interim agreements to develop Iraqi oil fields. Operating in the absence of a petroleum law, the government intends to make provisional awards on June 30. Contracts will...

Jad Mouawad in New York and Martin Fackler in Geoje, South Korea reported in the June 19 issue of the International Herald Tribune that a shortage of offshore drilling ships will impede a fast turn around in oil exploration. Slow growth of supply in the face of soaring demand has sent the price of crude...

In the issue of June 16, the Oil & Gas Journal noted that more operators have been attracted to the play. The increased activity is attributed to Chesapeake Energy’s suggestion that the Haynesville shale in East Texas appears to be a better reservoir than the Barnett shale in the Fort Worth basin....