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Japan will begin test drilling for oil and gas off Niigata coast in 2013

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Japan’s Ministry of Economy, Trade and Industry (METI) will begin test drilling for oil and natural gas in the Sea of Japan off the coast of Niigata Prefecture in April 2013. METI hopes to discover Japan’s largest reserves of these resources—possibly the size of intermediate oil fields in the Middle East, according to METI.

Japan 239
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GE Oil & Gas launches Micro LNG integrated plant

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GE Oil & Gas announced the development of a Micro LNG integrated plant that meets the small-scale liquefied natural gas (LNG) requirements of powering remote industrial and residential locations and fueling motor vehicles. acquisition in 2011. GE’s Micro LNG plant produces in the range of 20 to 150 k/tons per year of LNG.

Oil 199
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EPA proposes air pollution standards for oil and gas drilling operations; focus on capture of escaping natural gas

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The US Environmental Protection Agency (EPA) proposed standards to reduce harmful air pollution from oil and gas drilling operations. These proposed updated standards—which are being issued in response to a court order—would rely on cost-effective existing technologies to reduce emissions.

Escape 186
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Chevron leveraging information technology to optimize thermal production of heavy oil with increased recovery and reduced costs

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Chevron’s focus on optimizing the thermal management of the Kern River field has resulted in a steady drop in the steam:oil ratio (barrels steam water per barrel oil), resulting in improved economics of the field even with slowly declining production. Data: California DOGGR. Click to enlarge. Source: Chevron. Click to enlarge.

Chevron 244
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MIT/UC Davis professors challenge claims that ethanol production decreased gasoline prices in 2010 and 2011

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in 2010 and 2011, respectively. t margin for oil refiners. Put simply, the empirical results merely reflect the fact that ethanol production increased during the sample period whereas the ratio of gasoline to crude oil prices decreased. The paper by Prof. Christopher Knittel at MIT and Assoc. The estimate drops further to $0.09

Davis 334
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Opinion: Consumers winning with low oil prices, for now

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It is estimated that for every penny gas goes down, consumers collectively save $1 billion. Columbia and Associate Director of the Maguire Energy Institute at the Cox School of Business at Southern Methodist University in Dallas says it has: “No question we’re seeing the effects of lower oil prices throughout the economy.”.

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Marubeni to acquire 35% working interest in Eagle Ford shale play from Hunt Oil for $1.3B

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Marubeni Corporation announced that Marubeni Eagle Ford Limited Partnership, a US subsidiary of Marubeni, has entered into an agreement with Dallas based Hunt Oil Company to acquire a 35% working interest in the Eagle Ford shale oil and gas play covering approximately 52,000 net acres of oil and gas leases located in Texas.

Oil 186