Mexican oil production has dropped 25 percent over the past ten years, with the 2.5 million barrel per day average last month the country’s lowest in nearly two decades, according to the U.S. Energy Information Administration, which anticipates that changes the country's energy reform should bring will reverse the trend, FuelFix reports.
Revenue from shale drilling has increased just 5.6 percent over the past four years while operators’ debt has nearly doubled, according to a Bloomberg analysis, and analysts warn some overextended companies may not be able to keep going.
STAVANGER, Norway (AP) — Greenpeace says activists have boarded two offshore drilling rigs in a protest against oil and gas exploration in Arctic waters.
Juha Aromaa, a spokesman for the environmental group, says 15 activists boarded a rig operated by Norwegian energy company Statoil about 109 miles (175 kilometers) off the Bear Island nature reserve early Tuesday without encountering any resistance from the onboard crew.
The Interior Department on Friday said it will complete by next March a court-ordered rewrite of an offshore Alaska oil lease environmental review under what it called an "expedited process," which would clear the way for it to consider drilling by Shell in the Chukchi Sea.
In a bimonthly status report on its progress submitted to a federal judge in Anchorage, the Bureau of Ocean Energy Management said that it has begun drafting a supplemental environmental impact statement for Lease 193 under simultaneous processes by its staff and cooperating agencies.
BISMARCK, N.D. (AP) — The godfather of North Dakota's present oil bonanza predicted the state's crude production will double to 2 million barrels daily by decade's end but warned industry officials Thursday that future safety missteps would threaten that.
"We can't have any more issues," Harold Hamm, the chairman of Oklahoma City-based Continental Resources Inc., told expo-goers at the Williston Basin Petroleum Conference in Bismarck. "It has to be done in an absolute safe manner. It's going to take all of us."
QUITO, Ecuador (AP) — Ecuador's government has issued an environmental permit for oil drilling in the pristine Amazon reserve that President Rafael Correa initially offered to exempt from exploration if rich countries would pay his government.
Correa abandoned that effort last year due to insufficient interest and has spurned pleas by environmentalists to spare the Yasuni reserve.
Tony Sanchez III, CEO of Sanchez Energy, told FuelFix that getting more out of wells for less cost is the driving force behind the success of his company and other independents rising with the shale boom.
HOUSTON (AP) — They grow everything bigger in Texas, even the cities.
Three of the nation's five fastest-growing cities — and seven of the top 15 — are located in the Lone Star State, according to new data from the U.S. Census Bureau. This includes San Marcos — a city located between Austin and San Antonio — that has topped the list of cities with more than 50,000 people for the second year in a row with growth of 8 percent between July 2012 and 2013 to 54,076 people.
Moves by the Commerce Department to allow Pioneer Natural Resources Ltd. and Enterprise Products Partners LP to export lightly processed crude known as condensate are being “held without action,” sources told Reuters, which says the delay may give the agency more time to put together comprehensive guidelines.
Concerns about the shutdown of the Coffeyville refinery in Kansas after a fire pressured U.S. crude prices, benchmark WTI for September delivery dropped 70 cents to $100.97 while in London Brent crude gained on the announcement of fresh Russia sanctions, up 15 cents to $107.72, Bloomberg reports.
As violence in Libya worsens, shelling between rival militias at Tripoli airport has seen a third fuel storage tank set on fire, while the U.S. has already evacuated its embassy staff, Bloomberg reports.
Commerce Department moves to increase duties on many solar panels coming from China and Taiwan could hurt the industry in the U.S., according to warnings from Canadian companies Canadian Solar Inc. and Trina Solar Ltd., The Wall Street Journal reports.
At least six members of the Secretary of Energy Advisory Board, which makes policy recommendations to Energy Secretary Ernest Moniz, have had their financial conflicts of interest waived by the Department so that they can serve, according to documents obtained by E&E through the Freedom of Information Act.
American Electric Power Co.'s failure to reach its 2008 sales figures in the years since is an example of how utilities will have to rethink their traditional assumptions that demand for electricity will increase in the future, The Wall Street Journal reports.
Demand for drilling and production equipment is up at National Oilwell Varco and is likely to stay that way, according to chief Clay Williams, as the company reported a 17 percent gain in profit in the second quarter compared to a year earlier, FuelFix reports.
Canada’s Talisman Energy refused comment on details of its negotiations with Spanish oil giant Repsol, even as the company reported a second quarter loss of $237 million on lower gas prices and higher royalty payments, Reuters reports.
Senate Budget Committee chair Sen. Patty Murray, D-Wash., said Tuesday that long term budgets don’t reflect climate change costs, while Sens. Ron Johnson, R-Wisc., and Angus King, I-Me., debated over the impact of carbon emissions on climate change, The Hill reports.