Stricter sanctions against Russia are restricting some of its equipment and personnel in the country, Schlumberger said Tuesday, warning that the situation could affect its profits in the third quarter, FuelFix reports.
HOUSTON (AP) — Texas-based energy company Apache Corp. said it believes the killing of one of its supervisors in the western Egyptian desert in a carjacking was an isolated incident.
Spokesman Bill Mintz wouldn't elaborate Tuesday on how the Houston company made this assessment. He said the slaying was a police matter and that the company was cooperating with investigators.
Security officials in Egypt said the Apache worker's body was found Friday in a car on a road outside Cairo. The man had been shot to death as he was driving last Wednesday in the desert between Qarun and Karama, southwest of Cairo.
A report by the Interior Department’s Bureau of Safety and Environmental Enforcement into a problem with a Chevron well in the Gulf of Mexico in December, 2012 found that connector bolts used had become brittle because they were not treated properly after being electroplated, and the problem wasn’t caught because quality management systems didn’t monitor the work of subcontractors, FuelFix reports.
The shooting death of a long-time Apache Corp employee in Egypt last week highlights the dangers of operating in the country and adds pressure on the company to accelerate its pullout from risky international operations to refocus on North American production, FuelFix reports.
MEXICO CITY (AP) — President Enrique Pena Nieto signed into law on Monday new rules governing a historic opening of Mexico's state-run oil, gas and electricity industries to foreign and private companies.
Pena Nieto said the government will let potential investors know by Wednesday which blocks of gas and oil fields will be open for them. The state-owned oil company, Petroleos Mexicanos, or Pemex, has the right under the new rules to take first dibs and set aside some fields for itself. Pena Nieto said those set-asides will also be made public Wednesday.
The president also promised to start putting in place regulatory and oversight agencies to implement the new rules by the end of August.
Oil production continues to fall in Alaska's North Slope, and the industry there also is being hurt by prices driven down by the shale boom in places like North Dakota, The Wall Street Journal reports.
BISMARCK, N.D. (AP) — It's been two years since state regulators touted a record $1.5 million fine against a company for illegally dumping 20,000 barrels of toxic liquid and threatening drinking water supplies near a large western North Dakota city, and little has changed. The now-dissolved company is under federal investigation, the penalty is unpaid and the affected site is still contaminated.
Environmental groups are calling for more federal oversight of North Dakota's exploding energy development, saying that the state has done practically nothing to penalize the company and that the illegal dumping near Dickinson wouldn't have happened if state regulators were required to do due dillgence. A simple Internet search would have revealed that the company's owner had a criminal past long before wells were drilled in North Dakota, they say.
HOUSTON (AP) — An American employee of Texas-based energy company Apache Corp was killed last week in an apparent carjacking in the western Egyptian desert, officials said Sunday.
"The victim was a long-time employee who works with production operations and we are deeply saddened by his death," Apache spokesman Bill Mintz said. "Apache is working with authorities and a full investigation is underway."
He said the attack occurred Wednesday as the employee was driving in the desert between Qarun and Karama, southwest of Cairo.
$12.6 billion is on offer in the latest round of Department of Energy nuclear loan guarantees, this time being made available for uranium enrichment facilities as well as new reactors and upgrades to existing ones, Platts reports.
A drop in RBOB gasoline futures on retirement of the October contract helped crude prices slide again Tuesday. West Texas Intermediate crude plunged $3.41 to $91.16 a barrel on the Nymex -- the biggest single day loss in 22 months and the lowest settlement in 16 months – while in London Brent crude fell $2.53 to $94.67, Bloomberg reports.
The U.S. exported more crude in July – 401,000 barrels a day, mostly to Canada – than it did in June, according to Energy Information Administration statistics, the most since 1957 and almost four times as much as in 2013, The Wall Street Journal reports.
Enbridge’s reversed 9B pipeline should start filling with crude Nov. 1, Platts reports, noting that it will open up a new western Canada light crude and oil sands crude supply option to Quebec refineries.
The Department of Energy will grant a presidential permit for a project to build a 1,000 megawatt power transmission line from Canada into New York City when it publishes its decision in the Federal Register Wednesday, E&E reports.
The U.S. will actively address climate change issues when it takes over the chairmanship of the Arctic Council in 2015, said special envoy Adm. Robert Papp at the Center for Strategic and International Studies, declaring that there is a “moral imperative” to protect the area, The Hill reports.
Alberta’s new Premier Jim Prentice –- tackling an improvement of the province’s image in the face of heavy criticism of its oil sands crude –- has won respect from all sides of the environmental debate in the past, Bloomberg reports.