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Deep water ahead? The outlook for the oil and gas industry in 2011 is an Economist Intelligence Unit report that aims to provide a barometer for the industry from the point of view of top-level operators, including CEOs and other board-level executives and policymakers. The report is sponsored by GL Noble Denton.

PwC US has released a new report entitled, “Eye of the Storm,” which provides findings on information security for the oil and gas industry, based on survey responses from 143 senior industry executives. PwC found that despite data exploitation being up across the board, executives remain confident in their security practices as they have a set strategy in place.

Southwest Research Institute (SwRI) has received a $9.9 million award from the U.S. Department of Energy to design and test carbon dioxide compression using technologies developed under previous DOE phases of the improved compression technologies program.

With the rapid growth of shale gas and burgeoning interest in renewable gas production, today’s natural gas system operators are facing the need to compare the composition of these new supply sources with historical supplies prior to acceptance into their systems.

Globally, mankind has more than 1,500,000 km of oil and gas pipelines – with more than 600,000 km in North America alone. These numbers are even higher when one adds pipelines transporting other hazardous gases and liquids. Though efficient and critical, these pipelines carry high costs for individual safety incidents. Around the world, pipeline safety and security are immediate concerns, both for industry and government.

Alyeska Pipeline Service Co. has signed a consent agreement with the U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration that resolves the notice of proposed safety order PHMSA issued Feb. 1.

While its estimated petroleum reserves are on the rise, Iraq’s output is not quite meeting national production targets. Looking to boost production and achieve accurate measurements, the country’s leading officials have moved to upgrade oilfield installations damaged by conflict and lack of investment, as well as establish comprehensive guidelines for the accurate measurement and automation of hydrocarbon production.

U.S. oil production in areas including West Texas' Permian Basin, South Texas' Eagle Ford shale, and North Dakota's Bakken shale will record a rise of a little over 2 million bpd from 2010-16, according to data compiled by Bentek Energy.

CNOOC Ltd., one of China's three main state-owned oil and gas producers, has agreed to buy Canadian oil sands producer OPTI Canada Inc. for $2.1 billion.

GE said it is investing more than $10 million to expand its Inspection Technologies headquarters site in Lewistown, PA. Key features of the expansion project include a new global customer applications center as well as a nondestructive testing (NDT) academy for GE employees and customers.

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