Sen. John Hoeven is delaying until next year his bill to speed up liquefied natural gas exports to non-free trade agreement countries, hoping to secure the support of Energy Secretary Ernest Moniz.
The legislation by Hoeven, R-N.D., was to get a vote in the Senate's energy committee on Thursday. Hoeven said Moniz called him on Wednesday to say the bill would deprive him of environmental impact information the Energy Department needs to make a national interest determination on export proposals.
The Energy Information Administration in an analysis said that liquefied natural gas exports could lead to an increase in production and expanded economic growth, but also raise consumer prices, FuelFix reports.
Analysts project railroad companies could potentially reap large savings by switching from diesel fuel for trains to liquefied natural gas, though the high initial investment to upgrade locomotives has hindered the switch, FuelFix reports.
After nine straight sessions of growth that saw natural gas prices rise more than 23 percent, prices fell 15.7 cents to $4.255 per million British thermal units on Monday as traders looked to cash in on profits, The Wall Street Journal reports.
Sen. John Hoeven is likely to get a committee vote this week on his bill to speed up Energy Department reviews of liquefied natural gas export proposals, but the outlook for Senate passage during the upcoming lame duck session appears anything but certain.
The Senate Energy and Natural Resources Committee on Thursday will take up the proposal by Hoeven, R-N.D., at a business meeting that could see votes on 20 pending bills, the panel's chair, Sen. Mary Landrieu, announced.
Though Freeport LNG needs two more permits to commence construction on its liquefied natural gas export facility in Quintana, Texas, the company on Monday held a groundbreaking ceremony with plans to begin building by Thanksgiving, FuelFix reports.
A second preliminary deal for Russia's Gazprom to supply China with natural gas is expected to lower prices in Asia, boosting competition among countries looking to expand exports to the continent, The Wall Street Journal reports.
At the Asia-Pacific Economic Cooperation meeting in Beijing, China and Russia signed a second initial natural gas supply deal, building on a $400 billion deal signed earlier this year for Russia to provide China with gas, Bloomberg reports.
In an interview with the Houston Chronicle, Israel's Economy Minister Amit Lang discusses his country's efforts to lure foreign oil and gas companies to develop the energy-rich Leviathan gas field off its coast.
The Obama administration may be backing away from its insistence that future coal-burning power plants use carbon capture technology, settling instead on a requirement for ultra-supercritical technology in the Environmental Protection Agency's Clean Power Plan, E&E reports.
The U.S. Army Corps of Engineers argued that the Environmental Protection Agency's Clean Water Rule lacks a sound scientific basis in memos made public by the House Oversight and Government Reform Committee Thursday, The Hill reports.
The Department of Energy has agreed to rework its proposed efficiency standards for walk-in freezers and coolers, according to the Air-Conditioning, Heating and Refrigeration Institute, which says it has reached a settlement with the DOE over the issue, The Hill reports.
Sen. Martin Heinrich, D-N.M. says some other Democrats may be willing to go along with him and Sen. Angus King, I-Me., in a willingness to support legislation lifting the ban on U.S. crude exports if it also backs renewable energy such as wind and solar, E&E reports.
Despite data from the Energy Information Administration showing that U.S. crude production peaked at almost 9.7 million barrels a day in March, news of an increase in oil rig count this week piled more pressure on prices. U.S. benchmark crude slumped $1.40, or 2.9 percent, to settle at $47.12 a barrel on the Nymex, while in London, Brent dropped $1.10 to $52.26, its lowest settlement since January, The Wall Street Journal reports.
Chevron is getting nearly a third more oil and gas from its wells in the Permian Basin, and is paying less for oilfield services as well—but even so, its second quarter profits dove 90 percent on lower crude prices, FuelFix reports.
Hess has increased its production forecast for its Bakken Shale operations to up to 110,000 barrels of oil equivalent per day, despite the company dropping the number of rigs it’s operating in the play, Platts reports.
Many witnesses testifying at the first Interior Department hearing on the future of the federal coal program—which was attended by Secretary Sally Jewell—said they wanted to see higher royalty rates to raise more money for U.S. taxpayers, High Country News reports.
Senior creditors for Alpha Natural Resources Inc. will loan money to the beleaguered Virginia-based coal company to help it get through bankruptcy, a filing for which could come as early as Monday, Bloomberg reports.
Although Thursday’s peak demand of 67,624 megawatts didn’t break the all-time record as the Electric Reliability Council of Texas had feared, it's been a huge week for demand, and the grid operator expects high usage throughout the summer, FuelFix reports.