Last updateFri, 17 Aug 2018 5pm


Exxon Sees Natural Gas Potential with New Drilling Technique

Dozens of workers mill around a jumble of pipes and whirring equipment surrounding 10 natural gas wells operated by Exxon Mobil Corp.


At this well site in the desert, 80 miles west of the Rocky Mountains tourism hive, the men load cranes, operate pumps and monitor little red lines on computer screens.


Source: The Dallas Morning News


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South Korea’s Fuel Exports May Plunge 44% in Second Half

South Korea, Asia’s biggest exporter of oil products, may ship 44 percent less in the second half of this year after the global recession eroded returns from turning crude into diesel and jet fuel.


Fuel exports may fall to $10.6 billion between July and December from $18.9 billion a year earlier, the Ministry of Knowledge Economy said today in an e-mailed statement. Volume may drop 13 percent to 162 million barrels. Exports account for half of refiners’ revenue in South Korea.


Source: Bloomberg


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CNOOC Eyes Jumps in Oil and Gas Output, LNG Imports

State-owned China National Offshore Oil Corporation (CNOOC) aims to have 50 million tons per year of liquefied natural gas (LNG) receiving capacity by 2020, a company executive was quoted as saying over the weekend.


The leading Chinese LNG developer recently won approval to build its fourth LNG receiving terminal along China's coast, which would be able to take up 3 million tons of the fuel a year when it is ready in 2012.


Source: Reuters


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United States Becomes World Leader in Wind Power

Aggressive investments in 2008 helped the United States surpass Germany to become the world's leader in wind power, according to a report released Thursday by the U.S. Department of Energy.


And for the fourth consecutive year, the United States was home to the fastest-growing wind power market in the world.


Source: Mercury News


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Pipeline Project Emerges From Deep Freeze

Leaders of five nations from Austria to Turkey signed a breakthrough agreement to transit natural gas through their countries in the European Union's planned Nabucco pipeline project aimed at reducing the EU's dependence on Russia.


Diplomats and energy-company officials involved with the project said Monday's agreement, signed in the Turkish capital Ankara, has brought Nabucco out of a deep freeze, overcoming a long-running dispute over terms of transit through Turkey and showing the political will to build it.


Source: Wall Street Journal


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