June 29, 2012
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Editor's Letter

Think the “Foreign Corrupt Practices Act” is a U.S. Issue? Think Again!

Pat Davis Szymczak

   Last February the former chief executive of KBR, Inc. was sentenced to 30 months in prison for his role in a massive, decade-long scheme...

Main Article

BP Considers Selling Its Stake In TNK-BP

British oil giant BP said Friday it is considering selling its 50 percent stake in its Russian joint venture TNK-BP, in a deal that could fetch at least $15 billion.

Featured Article

Shale Gas Threatens Russian Energy Monopoly, Says IEA

The International Energy Agency (IEA) has claimed that the exploitation of shale gas reserves around the globe will help topple Russia from its place as a world leader in gas exports.

The report by the IEA comes just a fortnight after Polish Prime Minister Donald Tusk declared that the extraction of shale gas in Poland will create “a new epoch for energy in Poland.”

More Top Features

Gazprom Group’s PeterGaz Takes the Mystery Out of Joint Venturing in Russian Waters

   In terms of its scale and complexity, development of oil and gas deposits on the Arctic Shelf can be compared to space exploration. The implementation of offshore hydrocarbon production  programs requires investments that exceed many times those necessary to implement projects onshore, with payback delayed as long as 12-16 years.

Iraq, Caspian Investments to Fuel LUKOIL's Profits & Dividend Payouts

   In March, LUKOIL presented its new development strategy covering the period through the year 2021. Its biggest news is that the dividends are set to grow by 300 percent over the next 10-year period. At the same time, the company has plans to make significant investments in various projects, primarily, in those outside Russia.

Itera Aims to Get Back Its Own New Rosneft-Itera JV to Challenge NOVATEK for Top Spot on the Independent Gas Producers Market

   Itera has set in motion the process of consolidating its assets with those of the state-owned corporation Rosneft. If the two companies succeed in implementing their current plans, their newly formed joint venture could well challenge NOVATEK for the top position on the independent gas producers market in Russia.

PumpCalcs.com Guru Ponders the Ins and Outs of Centrifugal Pumps

   He has more than 30 years of rotating equipment experience in the petrochemical industry and has numerous machinery reliability articles to his credit. Robert Perez holds a BSME degree from Texas A&M University at College Station, a MSME degree from the University of Texas at Austin, and a Texas PE license.

The Legendary RIDGID® Wrench A Lifetime Partner – Designed for Heavy-Duty Work in Oil and Gas Fields

   It is commonly known that the oil and gas sector is strategically important for Russia.  It is the core of the economy, which handles a big share of export and federal budget income. The resource extraction is an extremely laborious process: frost, snow, mud, sand, those are the usual working conditions for drillers, oilfield workers and gas industry workers.

Weatherford Successfully Completed a Pilot Project of Casing Running with Rotation

   Weatherford jointly with the Drilling Operations Department of Verkhnechonskneftegaz, OJSC, has successfully completed a pilot project of casing running with rotation in the Verkhnechonskoye oil and gas-condensate field.

Wotasoft™ Technology from Zirax as Best Method to Retain Reservoir Properties

   At present, the petroleum science is facing an important task of the most efficient and complete extraction of hydrocarbons from the oil and gas fields in operation.  One way to meet this challenge is to introduce some novel technologies aimed at preservation of reservoir properties within the cored interval, and especially the bottomhole formation zone (BFZ).

Halliburton, Gazprom International to Collaborate on Technical Exchange And Technology Deployment

Halliburton (NYSE: HAL) has signed a Strategic Cooperation Agreement with Gazprom International for the development and implementation of new oil and gas technologies in global exploration and production projects.

Shell And Chevron Win Ukraine Public Bid For Shale Gas

Two of the world's largest oil companies, Royal Dutch Shell plc and Chevron Corp, obtained the right to develop Ukrainian shale gas fields Yuzivske and Oleske, respectively, informed Prime Minister of Ukraine Mykola Azarov in his interview with Euronews. The fields are expected to provide Ukraine with up to ten percent of domestically consumed natural gas by 2020.

Poland Awards Shale Gas Concession

Poland's Ministry of the Environment has awarded energy giant San Leon Energy exploration rights to a region that takes in some 300,000 acres, as the country's bid to tap shale gas resources continues.

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