The antitrust review process for the proposed $34.6 billion merger between oilfield service giants Halliburton and Baker Hughes will extend until at least Nov. 25, the companies announced Friday, FuelFix reports.
Royal Dutch Shell could eventually more than double its oil and gas reserves, or it could be making a very expensive mistake, depending on the outcome of its attempts to drill in the Arctic’s Chukchi Sea this summer, The Wall Street Journal reports.
The crew of Shell's icebreaker MSV Fennica, on its way to the Chukchi Sea carrying a critical piece of equipment, found a leak Friday in the ship's ballast tank and it has turned back for repairs, FuelFix reports.
Driller Linn Energy says it has finalized deals with private equity firms for $1.5 billion to fund acquisitions and development, even as it is selling off its last position in the Permian Basin for $281 million, FuelFix reports.
BRIDGETOWN, Barbados (AP) — The U.N.'s secretary-general pledged Thursday to press for more funding to help small island developing states adapt to impacts of climate change and foster sustainable development.
Ban Ki-moon opened a Barbados summit of the 15-member Caribbean Community, telling the leaders that they are on the "climate front lines" and govern nations that are "some of the most vulnerable countries in the world."
As part of its efforts to improve cash flow during the oil slump, Houston-based offshore operator Energy XXI has sold a rich field near the mouth of the Mississippi River to a private buyer for $21 million, FuelFix reports.
Treating and recycling drilling wastewater offers the potential to address Oklahoma’s problems with earthquakes and drought, the state’s Energy and Environment Secretary Michael Teague told a forum of the Western Governors’ Association recently, E&E reports.
A report commissioned by the Pebble Partnership—conducted fully independently, according to its author, former Defense Secretary William Cohen—says the Environmental Protection Agency did not use the "fairest and most appropriate process" when it ruled against the proposed mining project in Alaska, The Hill reports.
OPEC’s Secretary-General told a London conference Tuesday that investments in oil projects will fall by $130 billion this year, which will mean less production in the future and a return to higher crude prices within two years, The Wall Street Journal reports.
A projection from OPEC’s Secretary General of substantial spending cuts by oil producers around the world sent prices soaring Tuesday. West Texas Intermediate crude for November delivery jumped $2.27, or 4.9 percent, to $48.53 a barrel on the Nymex, while in London, Brent zoomed $2.67, or 5.4 percent, higher to $51.92, Marketwatch reports.
IHS Energy says companies drilling for oil in North America will have much less protection against lower prices in the future: their moves to hedge production in 2016 cover only 11 percent of their production, FuelFix reports.
Arthur McDonald, who, alongside Takaaki Kajita, won the Nobel prize for physics Tuesday for his work with neutrinos, says the processes his team observed on the Sun “are very similar to the processes people are investigating on Earth to develop nuclear fusion reactors,” The Financial Times reports.
ValueAct Capital Management—an activist investor known for aggressively pushing management to boost shareholder value—said in a regulatory filing that it intends to bring a number of issues up with the management and board of oil field services company Baker Hughes, FuelFix reports.
A study by two economists for the Nevada Policy Research Institute found that NV Energy’s proposed new natural gas-fired plant would cost customers money and be a drag on the state’s economy, the Las Vegas Review-Journal reports.