Posts Tagged ‘Uncategorized’

Caltex Australia shows its feminine side

In what is traditionally a male-dominated industry, one of Australia’s oil refiners is showing its feminine side, recently unveiling what is believed to be the nation’s most generous workplace support package for new parents.

Caltex Australia, which is chaired by a woman, says the move is “ground-breaking” because it goes beyond corporate Australia’s traditional focus on giving employees paid leave just before and after the birth of a baby, to focus on providing cash for parents to make their own childcare choices after they are back at work. Read the rest of this entry »

Platts Futures & Derivatives Review for December 20

Platts Futures & Derivatives Review is available for viewing at

In the Caucasus, politics and conflict push energy to the side

If a tree falls in the forest, and there’s no one present, does it fall without a sound? If there’s a conference on a region that just happens to be a crucial energy corridor, will anybody actually focus on energy…unprompted?

The area in question is the South Caucasus, through which passes a key section of what the European Union dubs its Southern Energy Corridor connecting Caspian producers with global markets in Europe, the Mediterranean and the whole wide world beyond.

Read the rest of this entry »

The parallel worlds of OPEC quotas and actual production

In the world of OPEC, the word production can mean different things. There is official production, whereby OPEC sets quotas for individual members under an overall volume, and there is actual production, which can bear little resemblance to official levels.

And there is a further complication. OPEC, although it has given out the overall target number for the current output agreement, has not published the individual quotas under that target. Which means that people like my colleagues and myself have had to work out those quotas by ourselves, sometimes with a bit of help from delegates or ministers who may confirm figures or indicate that our calculations are close to the mark.

Read the rest of this entry »

High well outputs yield bumper gas crop, but reviews are mixed

US natural gas shale plays continue on a streak of impressive production bulkups, although their copious well outputs, which in a more robust economy would inspire rave reviews, have raised eyebrows in some corners of Wall Street given a currently oversupplied market. 

One recent example of just how jaw-dropping the US shale gas story has become came from big independent Newfield Exploration. Houston-based Newfield said in a conference call this week that its production from Oklahoma’s Woodford Shale today is 308,000 Mcfe/d, versus about 240,000 Mcfe/d at June 30 — up nearly 30% in less than four months. Moreover, the company has an inventory of 28 drilled but uncompleted Woodford wells waiting to be put online by early 2010, signalling the potential to boost production still higher.

Read the rest of this entry »

The end of the petrodollar is nigh — not so fast

The demise of the petrodollar is back on the agenda. By 2018, oil producers in the Persian (or Arab, if you prefer) Gulf will no longer be selling their primary cash earner in US dollars, but against a basket of currencies. So says Robert Fisk, Middle East correspondent with the UK’s Independent newspaper, citing Middle East and Chinese banking sources in Hong Kong.

Read the rest of this entry »

Psst … wanna rent a rig, free? Hope for a busy USG storm season

Calling all oil companies! Wanna be able to rent a drilling rig for free?

Read the rest of this entry »

Drillers awaiting rig bargains empty-handed so far

With credit drying up and pinching much of the oil industry in the drill bit, it is perhaps not surprising that the mammoth rig-building boom of the last few years has virtually ground to a halt.

Read the rest of this entry »

Drill, baby, drill…if anybody is interested

This news story is not really surprising, but still gives one pause anyway.
The bottom line is that the US government can open up all the drilling opportunities it wants, but the price of oil and the capital crunch may not necessarily bring a rush of bidders.

Read the rest of this entry »

Well, that didn’t take long….

Just a couple days ago the Barrel raised the question of whether it was time for refiners to start cutting runs, in light of shrinking refining margins and rising product inventories.
Then just Monday, Tesoro announced that their first-quarter crude throughput would be lower, partly due to bringing a new coker at one of their refineries, but also because of run cuts in January on the back of weak margins.

Read the rest of this entry »