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

The Rig Zone Newsletter reported November 5 on the Pioneer Natural Resources results for the third quarter. The company lost $0.03/share including noncash charges of $112 million. Excluding these, earnings were $0.91/share. The quarter was impacted by the loss of 3,000 bbl/day related to Hurricanes...

Stephen Castle in Brussels reported in the November 5 issue of the International Herald Tribune that European Union (EU) governments lowered expectations for a meeting to address financial reform worldwide. The meeting of November 15 by representatives of the world’s largest economies will be only the...

Andrew E. Kramer in Moscow reported in the October 31 issue of the International Herald Tribune that the global financial crisis had reached Russia. Central bank reserves plummeted from $600 billion on August 8 to $484 billion today. With oil prices falling rapidly, Russia has used up reserves faster...

Syria is a declining oil producer under US Embargo. Sinopec is expanding their spheres in oil and gas production besides their core refining business. The Tanganyika acquisition is a difficult operation due to intense reservoir technology. If Tanganyika success continuous with this takeover, it will...

Julia Werdiger in London reported in the October 30 issue of the International Herald Tribune that energy companies must continue to invest during the downturn. That was the message of Total’s CEO Christophe de Margerie at the Oil & Money 2008 conference in London. He said that supply would remain...

Jad Mouawad in New York and Julia Werdigier in London reported in the October 31 issue of the International Herald Tribune that Exxon Mobil (XOM) and Royal Dutch Shell (RDS) earned higher-than-expected profits for the third quarter of 2008.Xom posted profits of $14.8 billion while RDS turned in $8.45...

The author of this article in the FAO newsletter is far behind times, as are most bureacratic analysts, especially at the United Nations. This issue is for the most part well settled and the answer to the question is a categoric "No". Food chain crops should not be used as feedstock for biofuels and...

Nelson D. Schwartz and Jad Mouawad reported in the October 25-26 issue of the International Herald Tribune that OPEC announced in a brief emergency on Friday that it would reduce production by 1.5 million bbl/day. The deepest cut since 2003 failed to provide price support as the price of light sweet...

Senior Staff Writer Paula Dittrick reported in the October 20 issue of the Oil & Gas Journal that oil shale deposits in the U.S. could be the most practical option to add large volumes of proved reserves. It may take 10-15 years for research scientists to determine if a development investment would...

Most of the world has missed a major paradigm shift that is still not clear enough to most "drivers" to avoid major collisions in the future. The historical economic models have not been properly updated to account for this new paradigm and the factors of the new model are going to permanently change...