Mark Finley, BP's chief U.S. economist, warned the slowdown in shale drilling could last as least a couple of years, and U.S. producers ought to be prepared to adjust business plans until crude oil prices begin to recover, FuelFix reports.
The Wall Street Journal reports on a study that found that greenhouse gas emissions from the entire life cycle of oil derived from Canada’s oil sands average 20 percent higher than from conventional U.S. crude.
Shell’s plans to drill two wells in the Chuckchi Sea 9 miles apart may run afoul of a Fish and Wildlife Service regulation that requires a 15-mile distance between drilling operations in order to protect animals such as walrus and seals, FuelFix reports.
Shell’s Noble Discoverer, still docked in a harbor in Washington state, has received a certificate of compliance from the U.S. Coast Guard, while the Polar Pioneer, which already has one and has begun its journey north, still needs to correct at least one more deficiency before moving onto the Burger Prospect in the Chukchi Sea, FuelFix reports.
The Pentagon is taking a larger role helping the Interior and Energy department in the Arctic region, with the military assisting in oil spill response and forecasting of declining ice in the region.
The Government Accountability Office, Congress's watchdog arm, disclosed the Defense Department's assistance in a report issued Friday, saying the low threat of military conflict in the region has allowed the military to participate in the inter-agency Arctic Strategy.
HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by two this week to 857.
Houston-based Baker Hughes said Friday 631 rigs were seeking oil and 223 explored for natural gas. Three were listed as miscellaneous. A year ago, with oil prices nearly double the current levels, 1,858 rigs were active.
When the price of oil plummeted more than 50 percent between June 2014 and January 2015, oilfield services and products like drilling, well casing, cementing and fracking sand took hits as well, a new analysis from the government’s energy statistics agency says.
The Energy Information Administration report examined the Bureau of Labor Statistics’ Producer Price Index, or PPI, which tracks the rates that oil and natural gas support companies were charging for their services during the period from June 2014 to May 2015.
Officials from the Bureau of Safety and Environmental Enforcement are looking closely at Royal Dutch Shell’s plans for Arctic drilling, and have asked for more details about the first two wells the company intends to drill in the Chukchi Sea, BSEE director Brian Salerno told FuelFix.
SEATTLE (AP) — An attempt at a protesters' blockade failed to stop a Royal Dutch Shell drilling rig Monday as it left Seattle on its way to explore for oil in the Arctic Ocean.
Some protesters had indicated they hoped to confront the Polar Pioneer off Port Townsend on Washington's Olympic Peninsula. However, U.S. Coast Guard Petty Officer Amanda Norcross said late Monday night that a gale warning was in effect in that area until Tuesday morning. She said the Coast Guard had not had interactions with protesters there.
Shale oil drillers who’ve tightened their belts to cope with lower prices haven’t made fundamental changes to improve efficiency, even if they’re managing in the short term to produce more crude for less money, FuelFix reports.
A number of companies that sought to shield themselves from declining crude prices with long-term contracts will start feeling the pinch as those deals expire, and that—combined with more stringent lending standards from banks—will likely see more firms defaulting on their debt in the coming months, according to predictions from Moody’s Investors Services, FuelFix reports.
Researchers keeping tabs on the greater sage grouse in western states have spotted substantially more of them this year, although they say it’s too early to make assumptions about the birds’ future, E&E reports.
Although U.S. trade representative Michael Froman says he's still optimistic that the U.S. and Asian partners can hammer out a major trade deal, their failure to do so last week raises the risk that the talks could become entangled with the 2016 campaign, Politico reports.
New research says most offices are using a decades-old formula that’s based on male physiology and clothing habits, and recommends companies consider easing up on the air conditioning, The New York Times reports.
Republican presidential candidates already have been lining up to denounce the Obama administration's new limits on power plant carbon emissions, with Sens. Ted Cruz and Marco Rubio offering criticism at a Koch-backed Freedom Partners forum in California and Jeb Bush calling the Clean Power Plan “irresponsible and overreaching,” National Journal reports.
House Natural Resources Committee Chairman Rob Bishop's reservations about the Land and Water Conservation Fund mean any proposal to renew its authorization will meet a challenge on Capitol Hill, The Hill reports.