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2014-08-07 18:30:00

CHALLENGING EXPENSIVE DRILLING

CHALLENGING EXPENSIVE DRILLING

Energy companies are taking their controversial fracking operations from the land to the sea -- to deep waters off the U.S., South American and African coasts.

Cracking rocks underground to allow oil and gas to flow more freely into wells has grown into one of the most lucrative industry practices of the past century. The technique is also widely condemned as a source of groundwater contamination. The question now is how will that debate play out as the equipment moves out into the deep blue. For now, caution from all sides is the operative word.

"It's the most challenging, harshest environment that we'll be…

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Tags: DEEP, WATER, DRILLING, FRACKING, U.S., HALLIBURTON, BAKER, HUGHES, CHEVRON
Chronicle:
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MALAYSIA'S GDP UP 4.9%
Malaysia's central bank data on Friday showed second quarter gross domestic product grew 4.9% year-on-year, beating the 4.8% forecast
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OIL PRICE: NEAR $61 YET
Brent crude was down 46 cents, or 0.8%, at $60.84 a barrel at 0639 GMT, after rising 4.7% on Tuesday, the biggest percentage gain since December. U.S. oil was down 62 cents, or 1.1%, at $56.48 a barrel, having risen 4% the previous session, the most in just over a month.
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2019, August, 14, 12:20:00
CHINA'S OIL THROUGHPUT UP 5.6%
For the first seven months of 2019, Chinese crude throughput rose 5.6% from a year earlier to 369.73 million tonnes, or 12.73 million bpd, the NBS reported.
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2019, August, 14, 12:15:00
MENA ENERGY INVESTMENT: $859 BLN
Oil, gas and petrochemical projects, valued at more than US $859 billion, are either underway or planned in the Middle East and North Africa, MENA, of these US $283 billion are projects are being implemented, as the region gets ready to meet the forecast increases in demand for energy over the next two decades.
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INDONESIA NEED INVESTMENT $15 BLN
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IBERDOLA SALES WIND: $2 BLN
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AUSTRALIA'S CLIMATE CASH $339 MLN
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