India’s Oil Supply and Demand Gap Widening

(MARITIME EXECUTIVE) India was the fourth-largest consumer and fourth-largest net importer of crude oil and petroleum products in the world in 2013, after the United States, China, and Japan. [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…]

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…]

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…]

As oil flows east, race is wide open to price Asia’s imports

(REUTERS) China will increasingly dominate global oil trade with a fuel import bill worth half a trillion dollars a year by the end of the decade – a lucrative prospect for futures exchanges battling to provide the benchmark to price Asia’s oil. [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…]

Texas A&M to lead new offshore safety institute for oil & gas industry

(UPSTREAM) US regulators have chosen Texas A&M as a partner in a five-year project to promote dialogue and partnerships across industry on offshore safety matters. [Read more…]

Indonesia plans to build new 300,000bpd refinery

(ENERGY BUSINESS REVIEW) Indonesia is planning to build a new state-owned refinery to reduce its dependence on imported fuels. [Read more…]

BP supercomputing center to aid safer exploration drilling, enable better well placement

(DRILLING CONTRACTOR) BP has opened a new Center for High-Performance Computing (CHPC) that the company says houses the largest commercial supercomputer for research in America. [Read more…]