Two top Chinese officials who’d been prominent in the operations of China National Petroleum Corp. in Canada have departed, calling into question the future of a billion dollar oil sands project, The Wall Street Journal reports.
With violence and instability plaguing operations in less developed countries, the major oil companies are spending a greater percentage of their exploration and production budget in OECD nations where there is less risk to their returns, The Wall Street Journal reports.
Instead of an expected slowdown, Texas 2013 oil production increased to a level near the record set in 1972, pushed by higher oil prices that climbed on international unrest, according to an industry analysis, FuelFix reports.
Canada’s Talisman Energy has confirmed that it’s in talks to sell some of its assets to Spain’s Repsol, which analysts speculate may include interests in Marcellus Shale and Eagle Ford Shale, The Wall Street Journal reports.
Freeport-McMoRan Inc. considers its best prospects for growth to be in deep water oil and gas fields in the Gulf of Mexico, vice chairman Jim Flores said Wednesday, adding that the company will likely sell off up to $5 billion worth of land-based assets to help pay for it, Bloomberg reports.
A Harris poll conducted for the American Petroleum Institute found 68 percent of those surveyed support offshore drilling, and Americans likewise back an increase in oil and gas production, FuelFix reports.
A joint venture between Exxon Mobil and state-owned oil company Rosneft to look for oil off the coast of European Russia appears to be going ahead as planned despite the downing of a Malaysia Airlines plane in Ukraine, The New York Times reports.
Apache should stick to drilling in the U.S. and sell off its international operations, as it’s lagging behind companies that operate exclusively in American shale, according to a letter sent Monday by activist investor and hedge fund Jana Partners LLC, which owns at least a billion dollar stake in the company, The Wall Street Journal reports.
The Environmental Protection Agency has sent its suggested blending mandate for the long-delayed 2014 Renewable Fuel Standard to the Office of Management and Budget without dropping hints about what’s in the proposal, which will now be reviewed by the White House and other federal agencies, and Platts suggests a final decision may not even be made public until after the November election.
Even with Russia sending a convoy of trucks into Ukraine Friday, oil prices continued to decline as there’s been no evidence of any disruption in supply. U.S. benchmark crude for October delivery slipped 31 cents to settle at $93.65 a barrel on the Nymex, a drop of 3.9 percent on the week, while in London Brent crude ended 34 cents lower at $102.29, Reuters reports.
The non-profit group Sky Truth has created a global interactive map displaying natural gas flaring – in the U.S. showing concentrated activity in the Bakken, Eagle Ford and Marcellus Shale plays -- while environmental advocate Earthworks has released a report entitled Up in Flames that contains extensive statistics, stating, for example, that flaring in the Bakken increased five-fold between 2010 and 2013, according to National Journal.
Approval for power transmission projects like Gateway West and the TransWest Express is taking the federal government far too long, Wyoming Infrastructure Authority chairman Mike Easley told Energy Secretary Ernest Moniz Thursday, The Associated Press reports.
California territory in “severe” drought dropped slightly to 97.5 percent this week due to above normal rainfall in the south, but that hasn’t helped boost low reservoir levels, the Los Angeles Times reports.
Lawyers for the Kurdistan Regional Government appeared before U.S. District Judge Gray Miller Friday, asking him to throw out a previous order from a magistrate -- which had been issued at the behest of the Iraqi government -- allowing U.S. marshals to seize any crude unloaded from a tanker that's been anchored off Galveston for weeks, FuelFix reports.
According to filings with the Federal Election Commission this week, NextGen Climate Action Committee took in $8 million in July but $7.5 million of that came from founder Tom Steyer, Politico reports.
The California Senate approved and sent to Governor Jerry Brown a bill to streamline the solar permit process, intended to make it easier and quicker for homeowners to get solar power installations up and running, according to LBReport.com.
A burdensome approval process and delays in the city’s Department of Water and Power in getting customers hooked up to the grid is putting a damper on solar power installations in L.A., the Los Angeles Times reports.