The weather man here says the days are getting longer, but in my neck of the woods almost total darkness still remains. And in the dark, the games are being played, and those who play the games control the dark, the light and the value of our shares, IMO. It's the 'players' who will decide when it's time to turn on the lights and when they do I'd imagine we'll be in for quite a show.
(Date unknown)
GAMES?!
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Everything is just fine. I said...it's just fine.
April 18, 2012: As the Alaska State Legislature begins a special session today on oil tax reform, things are a little chilly in the Capitol. Between the House, the Governor and the Senate, there are more ill feelings than in all of Bartlett Memorial.
The biggest sticking point of the two year battle over oil tax reform has been the debate over the legacy fields on the North Slope. While the Governor and the House want to include these fields in tax reform, the Senate has balked thus creating a show down.
The Senate has taken more than enough time to vet the tax reform issues. They've had a number of experts and industry leaders who have pointed out the flaws in the current ACES tax structure. But Senators have been unmoved.
However cracks started to show during the final days of session as some Senators wanted to include the legacy fields in their version of tax reform but were out numbered by those who preferred the status quo.
It is as Senate President Stevens would call "a historical gamble."
While many lawmakers despise the major North Slope producers, they are the only ones who can move the needle in a positive direction as it relates to increasing oil production.
And here, as Fellini would say, is the brutal realism that lawmakers face; producers can wait for honest tax reform.
They can wait until we're burning our savings account. They can wait until we've burned through our savings account. They can wait as long as they want, even pumping as little as 200,000 barrels per day.
On the other hand, the state can't wait. We have obligations like schools, roads, public safety and education, and those responsibilities will continue increasing as oil production decreases.
Contrary to what some lawmakers are telling you...
Mackenzie pipeline to face delays over funding issues [free access] 9-Apr-12
The proposed 1,196-km Mackenzie natural gas pipeline, which will transmit gas from the Mackenzie Valley near the Beaufort Sea to an existing natural gas pipeline system in north-western Alberta and pass through Canada's Northwest Territories, is likely to face delays in the wake of reported plans by some of the developers to reduce or suspend funding to the project. The pipeline consortium partners include Imperial Oil, ConocoPhillips Canada (North) Limited, Shell Canada Limited, ExxonMobil Canada Properties, and Aboriginal Pipeline Group, all Canada-based companies. Their respective stakes in the pipeline are 34.4 per cent, 15.7 per cent, 11.4 per cent, 5.2 per cent, and 33.3 per cent. The consortium partners have reportedly decided to close their offices in the Fort Simpson and Norman Wells regions, which are located on the route of the proposed gas pipeline. According to sector experts, these reported decisions indicate a planned course of action to cut back spending on the project. The pipeline received final clearance in March 2011 from the National Energy Board (NEB) of Canada after a nine-year extensive review of the project's environmental, economic, and social impact on Canada's Northwest Territories. Experts believe that the current scenario of low natural gas prices in the country, the lowest in ten years, has forced the developers to reconsider the viability of the project, which is estimated to cost USD16.1 billion. The prospects of increased production of the cheaper shale gas in the country are expected to further lower the price of natural gas, thus putting in question the projected revenue stream from the pipeline. Under the terms of approval provided by NEB in March 2011, the developers have to decide by the end of 2013 whether they want to go ahead with the project or not. The project developers, on their part, have assured NEB that the cutback in funding is temporary and that the project will be executed as per current plans.
$16.2 billion MacKenzie pipeline placed on hold 16-Apr-12
“In the first quarter of 2012, the co-venturers elected to suspend funding of the project due to a continued decline in market conditions and the lack of acceptable commercial terms,” said ConocoPhillips in a financial update for the first quarter of 2012. The proponents still need to negotiate a fiscal framework for the project, in order to make a decision to re-staff the project team and reinitiate engineering and field work. A fiscal framework typically involves the regulatory environment, gas prices, taxes and royalties, which are factors that determine the pipelines feasibility. The federal government promised several years ago to provide funding for roads, airstrips and other infrastructure in the Northwest Territories.
Doyon Drilling Inc. has named the worker who was killed Monday morning in an accident on Spy Island, a man-made island in the Beaufort Sea about 25 miles from Prudhoe Bay on Alaska's North Slope. In a statement Monday, DDI parent corporation Doyon, Limited said the employee's name was being withheld pending notification of family members. "The Doyon board, senior management and staff, as well as the staff of DDI, extend its deepest sympathy to the family and friends of this individual," officials wrote. Officials with the federal Occupational Safety and Health Administration were headed to Spy Island Monday to investigate the accident.
Pipeline Engineer - Arctic - ConocoPhillips in CALGARY Alberta Canada Title: Pipeline Engineer - Arctic - ConocoPhillips Location: NORTH AMERICA-CANADA-ALBERTA-CALGARY
Working as a key member of the development engineering team, the Pipeline Engineer will be responsible for the preparation of conceptual designs for both offshore and onshore pipeline alternatives and develop the associated cost and schedule forecasts. Following concept selection, it is anticipated the incumbent will continue with the project to progress the engineering design of the selected pipeline solution. The incumbent will be based in Calgary and report to the Offtake Lead.
ConocoPhillips is embarking on the development of an offshore arctic development in the Canadian Beaufort Sea. The development facilities must accommodate the extremes of the Arctic environment. Now entering FEL-1 (concept selection), the development engineering team will identify and evaluate multiple development scenarios, leading to the selection of a single concept for FEED and subsequent execution. Key Roles & Responsibilities * Prepare the Basis of Design for the pipeline export system. * Identify and define feasible pipeline solutions for short listed development concepts. * Identify and mitigate key design, execution and operability risks. * Participate in peer reviews and HAZID’s. * Prepare the pipeline sections of the Project Execution Plan, Project Information Package, contractor bid packages and decision support material. * Develop cost and schedule forecasts. * Manage external contractors and studies as required to develop pipeline designs. * Assure pipeline designs are in compliance with Company and applicable standards. * Maintain regular communication with Houston based engineering, project and technology development groups to identify, develop and leverage novel approaches and best practices. * Provide guidance to the Arctic Technology Development (TD) group to assure alignment between future TD programs and the anticipated technology requirements. Qualifications & Experience * Minimum Mechanical, Civil or related engineering degree required * Minimum 10 years major offshore and onshore pipeline design and construction experience * Clear understanding of design and construction requirements for Arctic pipelines is desirable. * Has proven experience in multi-national, multi-cultural business environments. * Legally permitted to work in Canada on a regular full-time basis without restrictions Required Skills and Competencies * Has clearly demonstrated strong technical competence in pipeline engineering. * Active participation in development and use of industry and regulatory pipeline codes and standards * Excellent communication/presentation skills are required * Able to lead and encourage sound and effective safety and environmental practices. * Has the personality to initiate and cultivate relationships In order to be considered for this position you must complete the entire application process, which includes answering all prescreening questions and providing your eSignature before the closing date of April 24, 2012.
"Today Rosneft and ExxonMobil enter offshore projects of unprecedented scale in the Russian Arctic and Black Sea regions, which are home to the world’s largest hydrocarbon resources base. In so doing we lay the foundation for long-term growth of the Russian oil and gas industry," said Rosneft president Eduard Khudainatov, in a statement.
Analysts at Bank of America Merrill Lynch predict the deal is a harbinger of future activity in the offshore.
But if the partnership with Rosneft pans out, and the BoA analysts are correct, one wonders how the deal might affect Exxon-controlled Imperial Oil Ltd.'s appetite for investment in Canada's Beaufort Sea.
Rep. Young Comments on Approval of Shell’s Beaufort Response Plan WASHINGTON, D.C. – Alaskan Congressman Don Young released the following statement today in response to the Bureau of Safety and Environmental Enforcement (BSEE) approving Shell’s Oil Response Plan (OSRP) for the Beaufort Sea:
“Today’s approval of Shell’s Response Plan puts the state of Alaska one step closer towards development in the Beaufort Sea. As gas prices continue to rise and unemployment continues to hover around 8%, the Beaufort Sea as well as the Chukchi Sea, will provide much needed oil to help fill a pipeline that badly needs it and will create many high-paying jobs in the process. Although drilling this summer is closer than ever, now is not the time to let up the pressure on the federal government, it is time to work harder than ever and that is exactly what I intend on doing.”
ENVIRONMENTAL ENGINEERING NEWSLETTER 23 APR. 2012 Please be aware any Newsletter URL ending in 020701.pdf is available for downloading only during the six days following the date of the edition.
4) TRANSPORTATION. A. KINDER MORGAN TO PROCEED WITH $5-BILLION TRANS MOUNTAIN PIPELINE EXPANSION TO BURNABY “GOODBYE XL” Kinder Morgan Energy's oil pipeline expansion plans grew even larger Thursday after the company received huge commitments from Asian customers. The new plans would ship enough crude oil from Alberta to fill 25 to 30 tankers a month through the company's Westridge, Burnaby terminal. The proposed expansion of the existing Alberta-to-Metro Vancouver pipeline, which Kinder Morgan wants operational by 2017, is to cost $5 billion. It will increase pipeline capacity for crude by 550,000 barrels a day, to 850,000 barrels from the current 300,000 barrels a day. http://www.vancouversun.com/business/Kinder+Morgan+proceed+wit h+billion+pipeline+expansion+Burnaby/6449009/story.html
Chevron, Statoil set a course for Arctic exploration
CALGARY— From Friday's Globe and Mail
Published Thursday, Jan. 12, 2012 2:46PM EST
Two energy giants are setting an ambitious plan to explore for oil and natural gas in Arctic waters this summer, moving forward just a month after Canada’s energy regulator revamped drilling rules to give companies an alternative to strict guidelines governing activity in the icy north.
Chevron will serve as the operator in the Beaufort Sea joint venture, controlling 60 per cent of the project. It previously controlled the entire lease. Statoil’s 40 per cent stake is thanks to a farm-out deal, Chevron said.
18-Apr-12 The fresh analysis comes as the federal government moves to accelerate reviews of major energy projects. In changes announced yesterday, federal Natural Resources Minister Joe Oliver unveiled legislation that would give Ottawa authority to make the "go/no-go" decision on major pipeline projects. The changes would also cap project reviews at 24 months.
Russia plans to establish twenty new Arctic border posts to control its Northern frontier and the Northern Sea Route. Some 15-20 border guards will be stationed at each location to monitor the situation and take part in rescue operations if necessary, Vladimir Pronichev, the country’s Border Guard Service chief, told Izvestiya daily. He added that some of the posts will be established near nine rescue centers of the Emergencies Ministry and the Ministry of the Transportation to be opened as part of a government plan on the development of the so-called Northern Sea Route. The rest will be set up on remote islands. “At first glance, it seems that there is no one in the Arctic and no one can violate the border. But that’s not so,” Pronichev pointed out. In recent years, there have been several incidents with foreign tourists illegally sailing in Russian northern waters and getting into trouble. The Russian side was obliged firstly to help them and then – fine them for breaching the border, the official recalled. In addition, there are scientific expeditions exploring the shelf without permission, as well as poachers. The Arctic border guards will be wide-profile specialists capable of rescuing people, as well as providing maintenance work on electric and other facilities. Currently, some 2,500 kilometers of the Northern Sea Route are not controlled by Russian radars at all, Konstantin Sivkov, first vice president of the Academy of Geopolitical Problems told Izvestiya. Around 40 Soviet radiolocation posts were destroyed after the collapse of the USSR, he added. The shipping lane that runs across the Russian Arctic border and connects the Atlantic and the Pacific oceans is about 6,000 kilometers long. This means the new border posts will have to keep an eye on about 300 kilometers each, Sivkov said.
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