There is a Limit to Capex Cuts as Oil Reserves Continue to Deplete

By Tom Bergin and Ron Bousso LONDON, Feb 5 (Reuters) - Big oil companies had a poor record of finding and producing oil and gas last year, according to figures out in the past week - and big cuts in spending in response to falling crude prices could undermine their plans to turn that around. Four of the world's six biggest oil firms by market value - Royal Dutch Shell, … [Read more...]

ConocoPhillips’ CEO Calls for Urgent End to Crude Oil Export Ban

ConocoPhillips' CEO Ryan Lance was quite clear in his presentation today at the Center for International and Strategic Studies (CSIS) that lifting the United States' ban on crude oil exports would be an extraordinarily positive thing, both for his company and the United States. With operations in 27 countries and about $55 billion in annual revenue, … [Read more...]

SPOTD: Docking the Polar Enterprise

SUNY Maritime grad Jill Davenport sent us this photo of the Polar Enterprise, a 2006-built, 141,000 deadweight ton crude oil tanker owned by ConocoPhillips.  This vessel is one of ConocoPhillips' five Endeavour-class tankers operating in the Trans-Alaskan Pipeline System (TAPS) trade, lifting crude oil in Valdez, Alaska, and discharging at ports along the West Coast of the … [Read more...]

ConocoPhillips: FSRUs are the Key to LNG Market Expansion

Chip Schuppert, ConocoPhillips’ Global LNG Marketing Manager spoke at the 2013 Offshore Technology Conference in Houston on the opportunities and challenges facing this developing sector. Hundreds of billions of dollars are being invested into the expansion of LNG production and new trades are developing rapidly. As someone commented recently, LNG develops its own markets as … [Read more...]