Archive for the ‘Crude Oil’ Category
Repository for EPRINC’s Macondo Analysis
EPRINC has created this page as a composite repository for its analysis of the BP Macondo spill. It can be accessed at http://www.eprinc.org/macondo. EPRINC will post its own analyses of the spill as well relevant primary and secondary documentation of interest.
EPRINC Publications
Oil Spill in the Gulf - Who is in Charge? An EPRINC Briefing Memorandum - June 3, 2010
Proposed Agenda for the National Commission on the BP Deepwater Horizon Oil Spill - An EPRINC Briefing Memorandum - June 21, 2010
The Blowout and the Deepwater Moratorium…..putting the spill in perspective
– July 2, 2010
Alternative Safety Regimes – An overview of “safety cases” – a method of offshore safety regulation made popular in the North Sea. – Forthcoming
A Proposed Agenda for the Presidential Commission
EPRINC Briefing Memorandum
June 2010
The National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling has been tasked with investigating the Deepwater Horizon accident and making recommendations on how to prevent and mitigate future spills. Given the large stakes to the marine environment, coastal and national economies, U.S. energy security, and revenues to the federal government, the Commission’s recommendations are likely to have consequences that go well beyond an investigation of the accident and implementation of a new regulatory program.
EPRINC recommends the Commission give careful review to the following agenda items:
The Deepwater and Offshore Arctic Drilling Moratorium
The costs of the moratorium on deepwater drilling are high, and the likelihood that it is not delivering substantial benefits in lower risk should place this agenda item as the first order of business for the Commission. Priority regulatory Read More >>>
Oil Spill in the Gulf – Who is in Charge?
EPRINC Briefing Memorandum
June 2010
Download PDF (includes full citations)
EPRINC staff has received a large number of inquiries on who has ultimate responsibility to address the clean up and related responses following the April 20, 2010 blowout and subsequent oil spill at BP’s Macondo well. These authorities are delineated in the Oil Pollution Act of 1990. The highlights are summarized in this document.
As a result of the Macondo blowout, the federal government has ordered a six month moratorium on deepwater drilling. A forthcoming EPRINC report will evaluate the economic, energy security, environment, and safety issues associated with exploring for and developing the deep water resources of the U.S. Gulf of Mexico.
The Oil Pollution Act of 1990: Defining Authority and Liability
In response to the Exxon Valdez oil spill of 1989, Congress passed comprehensive oil spill legislation: The Oil Pollution Act of 1990 (OPA). Prior to the passing of OPA, oil spills were governed by a patchwork of environmental regulations. OPA defines the reach of federal authority in response to oil spills and provides means to prevent and treat oil spills. OPA also broadened the liability of responsible parties associated with oil spill cleanup and Read More >>>
Iraq’s Ambition - Presentation at the Energy Forum
EPRINC’s April 28 presentation at the New York Energy Forum on Iraq’s plan to increase oil production to 12 million barrels per day over the next seven years is available for download as a PDF. The presentation is also posted on our publications page.
Iraq – First Look
The following report provides an assessment of the December 2009 Iraqi oil auction and discusses some of the underlying difficulties in achieving contracted production volumes. It is the first in a series of EPRINC reports on the Iraqi petroleum sector and its implications for the world oil market. A PDF version of the report is posted on our website at: www.eprinc.org/pdf/EPRINC-Iraq-FirstLook.pdf
In December 2009, the government of Iraq held a competitive auction for the rights to develop 60 billion barrels (bbls) of proven crude oil reserves across 10 major fields. The output requirements under the awarded contracts yield a production plateau of 9.6 mm b/d by 2017 in addition to current production. By any standard the Iraqi auction represents a major event in the history of the world oil market – it is the largest single transfer of petroleum reserves into the production stream of the oil market since the beginning of the petroleum era. Iraq’s proven reserves are estimated at 115 billion barrels which ranks the country third in proven reserves behind Saudi Arabia and Iran. However, credible estimates of Iraqi reserves suggest Iraq contains over 200 billion barrels of recoverable reserves and potential resources of over 400 billion barrels.
The production commitments for these reserves among the winning bidders, through a contracting vehicle called technical service contracts (TSC), are only partially transparent. It is known that companies will Read More >>>
