Petroleos Mexicanos, Mexico's state-owned oil company, said its crude output was down to 2.47 million barrels a day in March, the lowest in nearly 20 years, Bloomberg reports, noting that the country hopes energy reform, which opens up the sector to private investment, will turn things around.
The Wall Street Journal explores the reasons why the project to develop the Kashagan oilfield in Kazakhstan is years late and at least $30 million over budget, but concludes that it is possible to get the crude flowing and have it be profitable.
YANGON, Myanmar (AP) — Major oil companies including Total, Chevron, Woodside Energy and Shell have won bids for offshore oil and gas exploration blocks off Myanmar's western and southern coasts, the country's Energy Ministry said Wednesday.
An announcement on the ministry's website said 13 oil companies won bids to explore in 10 shallow water blocks and 10 deep water blocks in the Gulf of Martaban and Tanintharyi, off the western state of Rakhine.
Chesapeake Energy Corp. chairman Archie Dunham is continuing to buy large quantities of the company's shares despite its recent troubles, with the company reporting that he spent $1.4 million buying more last week, The Wall Street Journal reports.
COLUMBUS, Ohio (AP) — The administration of Republican Ohio Gov. John Kasich is differing with legislative budget analysts on how much a proposed tax increase on big oil-and-gas drillers will generate, as the two sides move toward a compromise this week.
The figure is pivotal as Kasich promotes a midterm budget package ahead of fall elections. He wants the plan to deliver the combination of cuts and revenue increases needed to push Ohio's income-tax rate below 5 percent, an accomplishment he would certainly tout on the campaign trail.
But fiscal experts disagree significantly on how much would be raised by increasing the severance tax rate on large-volume drillers to 2.75 percent.
DENVER (AP) — A Colorado proposal to commission a new study about the health effects of drilling on the Front Range sparked strong emotions Thursday in its first legislative hearing.
The House Health, Insurance & Environment Committee declined to vote Thursday but heard hours of testimony on the proposal. The bill would order the state Health Department to study "health and quality of life effects" of drilling in Adams, Boulder, Larimer and Weld counties.
"This is the sort of thing that government should get involved with," said Irene Fortune, a Loveland chemist who urged lawmakers to spend money on another study about the health effects of oil and gas production.
Shares in Occidental Petroleum Corp. fell 2.3 percent on Thursday, two days after Carson, Calif. imposed a moratorium on new drilling until the company completes a spinoff of its California business, Bloomberg reports.
Producers like Anadarko Petroleum Corp. and EOG Resources Inc. are returning to old oilfields in East Texas, hoping to use modern techniques to unlock fresh potential in areas that had fueled the U.S. oil boom after World War II, Bloomberg reports.
The Obama administration's decision to extend agency comment on its final Keystone XL review has inspired backers in Congress, including Sen. Mary Landrieu, D-La., and Sen. John Hoeven, R-N.D., to mount a new effort to bypass President Obama to approve the pipeline, Bloomberg reports.
Hess Corp. said it would sell $1 billion in its exploration assets in Thailand to PTT Exploration & Production as Hess plans to refocus its efforts on North American projects, Dow Jones Business News reports.
An all-week rally against the Keystone XL pipeline, organized by the Cowboy and Indian Alliance and green groups, drew nearly 200 protesters to the National Mall in Washington on Tuesday, The Wall Street Journal reports.
Southwestern state officials' plans to manage scarce water resources during an ongoing drought may face legal action from an environmental group that says water siphoning has further threatened the endangered Rio Grande silvery minnow, The Wall Street Journal reports.
Tom Steyer, a climate activist spending millions of dollars in the 2014 elections, said his activity differs from that of the conservative Koch brothers because he's pushing the issue of climate change rather than policies he would benefit from, Politico reports.
Canada's Department of the Environment recommended removing humpback whales from its list of "threatened" species months before the government will rule on a pipeline permit that would boost oil shipments through the whales' habitat, Reuters reports.