Chile looking to gas to meet energy demand, energy minister says

(OIL & GAS JOURNAL) Chile is focusing most of its attention on natural gas to meet the country’s energy demand challenges, stated Maximo Pacheco Matte, the newly appointed Minister of Energy, during a July 2 panel discussion in Houston. [Read more…]

Chevron goes to extremes in the Gulf of Mexico

(FORTUNE) The oil giant is spending billions to tap new oil fields in deepwater far offshore. Take an up-close look at how it’s done. [Read more…]

Greece promises tax cut to attract oil and gas majors

  •  (REUTERS) Greece plans to cut tax for oil/gas firms to 25 pct from 40 pct
  • Wants them to help exploit offshore hydrocarbon resources
  • Announces tender of first oil exploration licences [Read more…]

Indonesia to more than double LNG prices at Tangguh

(REUTERS) Indonesia’s energy ministry will more than double the price of liquefied natural gas (LNG) from its Tangguh plant, operated by Britain’s BP, a government official said. [Read more…]

At the Wellhead: Indonesia tries to kickstart its faltering oil industry

(PLATTS) As Indonesia, once an OPEC member and top LNG exporter, comes to terms with a new reality that awaits it — that in the next five years it is going to become a net importer of energy — the industry is urging the government to do what is necessary to kickstart the E&P engine. [Read more…]

CNG or LNG? Still an Evolving Question in Alternative Fuels

(NATURAL GAS INTELLIGENCE) Market segments for natural gas transportation keep changing, broadening and readapting to technology advances, but the basic question of compressed natural gas (CNG) or liquefied natural gas (LNG) is still evolving, according to a Pace Global consultant focused on small-scale U.S. LNG production developments. [Read more…]

Escalating costs driving diminishing returns for oil and gas companies despite stronger oil prices

(O&G FINANCIAL JOURNAL)  Despite stronger oil prices, corporate returns on average capital employed (ROACE) are lower than in 2001, when oil prices were less than $30 per barrel, according to research from information and insight provider IHS. [Read more…]

EU sets energy security as priority for next five years of policy-making

(Reuters) – Europe’s best chance of standing up to the supply insecurity caused by the Russia-Ukraine conflict is a close-knit energy union to thwart Moscow’s divide and rule strategy, a draft document laying out the next five years of EU energy policy says. [Read more…]

Deepwater well construction requires precision, thorough planning

(OFFSHORE) Deepwater well construction is all about planning and logistics. Typically, if these two challenges are not handled flawlessly, they can cause more issues than drilling and completion. [Read more…]

New natural gas royalty structure announced for New Brunswick province in Canada

(SACKVILLE TRIBUNE-POST) The provincial government has developed a new royalty structure that will significantly increase the royalties received for natural gas in the long-term without discouraging development. [Read more…]