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Monday through Friday, Oil & Gas Journal Daily Update delivers news written for oil and gas professionals by editors of the world's best known, most trusted petroleum magazine. It includes the exclusive, daily Market Watch feature and authoritative reports on industry operations, energy politics and economics, companies, personnel, and more. For other recent stories, go to http://www.ogjonline.com and click one of the 'more' buttons on the homepage - or click 'OGJ Online' on the right.
CONTENTS
•MARKET WATCH: Energy prices rebound amid talk of production cuts
•Senate, House approve bills to suspend SPR oil purchases
•Bodman criticizes gasoline tax suspension pitch
•Sudan rebels vow more attacks on Khartoum, oil facilities
•OTC: Dialogue with consumer groups can influence policy
•OTC: ABS adopts new FPSO structural requirements
•Venezuela invites Colombia to partner in Orinoco
•Apache Julimar NW-1 on NW Shelf logs 43 ft of pay
•KCA Deutag wins $100 million in drilling contracts
•Simulfrac success seen in Arkoma Woodford
STORIES
MARKET WATCH: Energy prices rebound amid talk of production cuts
Energy prices rebounded May 13 amid speculation that Iran might cut its crude production by 400,000-1 million b/d beginning in June.
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Senate, House approve bills to suspend SPR oil purchases
The US Senate and House overwhelmingly approved bills on May 13 to suspend crude oil purchases for the Strategic Petroleum Reserve through the end of 2008 unless prices fall below $75/bbl for 90 days.
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Bodman criticizes gasoline tax suspension pitch
US Secretary of Energy Samuel W. Bodman has criticized a call by both Republic Party presumptive nominee Sen. John McCain (R-Ariz.) and Sen. Hillary Clinton (D-NY) for a suspension of the 18.4¢/gal federal gasoline tax during the US summer driving season.
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Sudan rebels vow more attacks on Khartoum, oil facilities
Risks to energy installations and their personnel in Sudan will increase in the next few months, said Tahir Elfaki, head of the legislative council of Sudan's rebel group Justice and Equality Movement.
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OTC: Dialogue with consumer groups can influence policy
The oil and gas industry is headed for an energy policy "train wreck" unless it can successfully communicate with and engage the public, said CEA Vice-Pres. Michael Whatley at OTC in Houston May 8.
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OTC: ABS adopts new FPSO structural requirements
ABS is adopting new structural requirements for FPSO units in a soon-to-be-released major revision and update of the society's Guide for Floating Production Installations.
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Venezuela invites Colombia to partner in Orinoco
Venezuelan President Hugo Chavez, in an apparent attempt at extending an olive branch to Colombia, suggested that its state-owned Ecopetrol SA should become a partner in the Orinoco oil region.
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Apache Julimar NW-1 on NW Shelf logs 43 ft of pay
Apache Corp. reported May 1 that its Julimar Northwest-1 exploration well on Australia's Northwest Shelf logged 43 ft of net pay in the J-17 Triassic Mungaroo sandstone.
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KCA Deutag wins $100 million in drilling contracts
European and Russian oil and gas operators have awarded drilling contractor KCA Deutag five contracts valued at a total of more than $100 million for land drilling and extensions of existing drilling contracts.
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Simulfrac success seen in Arkoma Woodford
Continental Resources Inc., Enid, Okla., declared success at the first "simulfrac" stimulation performed in the Devonian Woodford shale in the Arkoma basin in eastern Oklahoma.
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