For the first time in more than ten years, production has dropped in North Dakota’s Bakken Shale play, which produced less oil in September—1.1 percent less—than it did during the same month in 2014, Bloomberg reports.
RIO DE JANEIRO (AP) — Brazil's one-time richest man said Tuesday that errors including an excess of optimism contributed to the downfall of his much-hyped oil, mining, logistics and ship-making empire.
Eike Batista, the flamboyant former billionaire whose meteoric rise and equally spectacular fall has come to symbolize the fate of his nation, was testifying before a parliamentary panel probing the estimated $2.5 billion in loans that Brazil's national development bank made to his portfolio of companies.
Executives from Marathon Oil Corp. and BP Lower Onshore 48 told the Oklahoma Governor’s Energy Conference in separate presentations that state lawmakers should revive the push to extend the permissible length of drilling laterals in nonshale plays, a move that went nowhere in the last legislative session, The Oklahoman reports.
Monthly drilling data released by the Energy Information Administration shows production continues to grow in the Permian Basin and the Utica Shale, but has started to decline in other U.S. shale plays, FuelFix reports.
Pioneer Natural Resources is the second U.S. firm, after Enterprise Products, to begin exploring how to take advantage of the end of the U.S. oil export ban and could begin shipments by the middle of next year, The Hill reports.
Two competing initiatives designed to give Florida residents a constitutional right to rooftop solar energy are running out of time without enough signatures yet to make next November's ballot, the Naples Daily News reports.
SolarCity CEO Lyndon Rive joined Sen. Charles E. Schumer in Buffalo this week to call the five-year extension of a federal tax subsidy "super important" to the continued growth of the solar power industry, The Buffalo News reports.
Continued concerns about oversupply forced oil prices downward early Wednesday, nearing an 11-year low already reached once this week. London Brent fell 31 cents to $37.05 a barrel while U.S. crude remained unchanged at $37.50, Reuters reports.
A group of researchers at MIT, the University of California-Berkeley, and the University of Colorado have developed a new computer microchip that uses optical technology and creates the potential to make future computer data centers more energy efficient, the journal Science reports.
A Japanese court on Thursday rejected safety concerns and approved letting Kansai Electric Power, the country's second biggest utility, restart four nuclear reactors shuttered since the 2011 Fukushima disaster, Reuters reports.