Exxon Chief Backs More Access to Offshore Acreage

Friday, September 15, 2006
ExxonMobil Corp supports legislation that would give companies greater access to offshore U.S. oil and gas acreage, chief executive officer Rex Tillerson said. Two bills that would open up potential oil and gas reserves are being debated in the US Congress. A House of Representatives bill that would end a decades-old moratorium on drilling in federal waters is better than a Senate proposal, which opens tracts only in one section of the Gulf of Mexico, Tillerson said.

Tillerson spoke at an Organization of Petroleum Exporting Countries seminar in Vienna on the importance of technology in meeting world energy demand. The conference, which is being held in Vienna’s Hofburg Palace, follows an Opec meeting two days ago where members agreed to maintain the group’s production target of 28mn bpd, brushing aside concern by Nigeria, Algeria and others that weaker demand could soon force prices lower.

Technology has enabled companies and oil producing countries in the past 50 years to triple to 3tn barrels the worldwide estimate of the amount of oil that can be produced, Tillerson said. Nanotechnology, the science of building devices from single atoms, rigs that can drill in 1,800m of water, and other advances will help producers meet an expected 50% increase in oil demand by 2030, he said. Source: Bloomberg

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Cove Point LNG Export Facility Gets US FERC Approval

U.S. federal regulators on Monday approved construction of Dominion Resources Inc's liquefied natural gas export project in Cove Point, Maryland. Cove Point is the fourth U.

Aker Evaluating Future of US Shipyard, ASC

Norway's Aker ASA may decide to merge or otherwise restructure two listed units that have seen strong benefits from the U.S. shale oil energy boom, Aker's Converto

MAN Propulsion Packages for New Icelandic Trawlers

MAN Diesel and Turbo inform that Icelandic owners, HB Grandi, Vinnslustodin hf. and Hradfrystihusid Gunnvör, have ordered newbuildings based on two different ship

Offshore

Crowley Receives Heavy-Lift Deck Barge in Singapore

Crowley Maritime Corporation’s solutions group announced today that it has received the first two of potentially four, new heavy-lift, ballastable deck barges (HDBs)

Signet Transports Second LLOG Rig to GofM

On September 14, five Signet Maritime ASD/Z-Drive tugboats, the SIGNET ENTERPRISE, SIGNET RELIANCE, SIGNET MAGIC, SIGNET WEATHERLY, and SIGNET VOLUNTEER successfully

OC Selects Siemens Blue Drive PLUSC Propulsion Solution

Siemens Blue Drive PLUSC Low Voltage Propulsion Solution providing reliability, Safety, increased fuel efficiency, reduced greenhouse gas emissions (Methane, NOX

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1343 sec (7 req/sec)