World of Oil ///

On April 22, Saudi Aramco began production at Khursaniyah Field. Expected production capacity at the field is around 500,000 bpd. The field should be producing 300,000 bpd within a month. Independence Hub gas platform, located in the Gulf of Mexico, is expected to resume production in mid-June. Production was originally scheduled to resume mid-May, but Enterprise Products Partners said recent repairs to the platform’s associated Independence Trail gas pipeline will require further work. Production at the hub stopped in early April after a leak was discovered on Independence Trail. On May 5-8 the Offshore Technology Conference (OTC), the world’s largest offshore event, was held in Houston. Attendance at this year’s OTC reached 75,092, a 26-year high. Attendance increased 11% from 2007. On May 13, PetroChina shut in several oil and gas wells and suspended flows through a major oil products pipeline to check for possible damage after an earthquake hit the Sichuan province.

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