Though the industry is still recovering from the global recession, there are opportunities for operating companies that have the foresight to invest through the downturn.

The reason? That country’s astounding demographic shifts, said numerous speakers at IHS CERAWeek in Houston.

It will take many decades for the U.S. to transition away from using fossil fuels for transportation, so oil and natural gas will continue to be important, U.S. Energy Secretary Steven Chu told attendees at IHS CERAWeek in Houston. But, that transition must start soon, based on supply and demand trends, and the need to reduce emissions.

Provides potential for near-term CO2 cuts, but presents long-term challenges, study says.

China, Russia, and the Middle East will be key energy players going forward.

Previewing BP's annual strategy presentation to the financial community, Group Chief Executive Tony Hayward said the company had established strong momentum in its core businesses and had made great progress in reducing costs and improving absolute and relative financial performance in the past two years.

The Cascade-Chinook project, which will introduce the first FPSO to the GoM, required cooperation from equipment and service providers from more than 20 countries. The field is on target for production in 2010.

A new study by UK-based ActionAid, an advocacy group for food for the poor, says that if the EU sticks to its biofuel mandate targets for 2020, millions around the world will starve.

The inherent lags between changes in drilling and production created natural gas spikes over the last 10 years and will continue to do so after this and every trough.