Globe

Natural gas is slowly replacing crude oil as the fuel of choice around the globe, lifted not only by its clean-burning capabilities but by the amazing growth of liquefied natural gas (LNG) and the emergence of gas-to-liquids (GTL), top energy producers said Wednesday at Cambridge Energy Research Associates’ CERAWeek in Houston.

Major integrated oil company leaders and energy ministers from 25 natural gas producing countries around the globe converged on Washington last week for an OPEC-like summit to promote cooperation in a worldwide LNG market predicted to rival the oil market. The United States will be the dominant consumer.

Not one to rest on its past success, BP is ramping up profit centers around the globe — including its emerging business in the deepwater Gulf of Mexico (GOM) — -which will more than make up for any declines in existing worldwide exploration and production, the group vice president of BP’s upstream said Tuesday.

Not one to rest on its past success, BP is ramping up profit centers around the globe — including its emerging business in the deepwater Gulf of Mexico (GOM) — -which will more than make up for any declines in existing worldwide exploration and production, the group vice president of BP’s upstream said Tuesday.