NICOSIA, Cyprus (AP) — Cyprus' president sought to draw a parallel with oil-rich Norway after the latest failure in the Mediterranean island nation's quest for gas.
President Nicos Anastasiades told reporters Thursday he's not disheartened by the failure of an Italian-South Korean consortium to find commercially viable amounts of gas during exploratory drilling in an area off Cyprus' southern coast.
HARPERSFIELD, N.Y. (AP) — The 124-mile Constitution Pipeline will likely bring some relief from high natural gas prices to residents of New York City and New England, but it will also bring anguish to some landowners in the wooded hills and valleys in its path.
It will slash a mile-long gash through a pristine forest tended by the Kernan family for seven decades. It will spoil Andrew Havas' plans to build a home and automotive shop. It will disrupt farming operations for dairyman Ken Stanton. It will dash hopes Bob Lidsky and Bev Travis had of building the hilltop home where they planned to retire with their five huge mountain dogs.
The continuing chill in the East wasn’t enough to boost natural gas prices Friday, with the April Nymex contract closing down 2.7 cents at $2.786 per million British thermal units, Platts reports, citing an analyst who predicts that natural gas production will continue to increase to new record levels this year.
The Interior Department's final rule regulating the use of hydraulic fracturing for oil and gas on federal and tribal lands met swift legal and legislative pushback from industry groups and congressional Republicans Friday. They said it would hinder energy development and infringe on established state regulatory systems.
But on the other side, Democrats and environmental groups raised concerns that the move didn't go far enough to protect public lands from the oil and gas extraction process.
HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. tumbled by 56 this week to 1,069, oilfield services company Baker Hughes Inc. said Friday. The decline took place as oil prices continued to slump.
Houston-based Baker Hughes said 825 rigs were seeking oil and 242 exploring for natural gas. Two were listed as miscellaneous. A year ago, 1,803 rigs were active.
The Interior Department on Friday unveiled a final rule governing hydraulic fracturing for oil and gas on federal and American Indian lands.
The rule, issued by the Bureau of Land Management, will require companies using the process to strengthen wells with concrete barriers to prevent water zones; disclose the chemicals used to the online FracFocus database; and secure recovered waste fluid with stronger interim storage tanks.
Southwestern Energy is selling Pennsylvania assets including 100 miles of natural gas gathering pipeline to Howard Midstream Energy Partners for $500 million, looking to pay off a loan that matures at the end of 2016, FuelFix reports.
ALGIERS, Algeria (AP) — Algeria will continue to carry out shale gas exploration despite a wave of protests against the project across the country's desert south.
Algeria's ailing president, Abdelaziz Bouteflika, said in a statement read out by an adviser that the exploration project would be carried out "until the end." But he said a decision on exploiting the fields would only be taken once the exploration was finished.
Three GOP presidential hopefuls - Sens. Rand Paul, R-Ky., Ted Cruz, R-Texas, and Marco Rubio, R-Fla. - are co-sponsoring a bill to block the Environmental Protection Agency's Waters of the United States rule, The Hill reports. Paul announced the bill Friday.
A report from the center-right think tank American Action Forum estimates that the Environmental Protection Agency's power plant carbon rules could eventually force more than 90 coal-fired plants to retire and cost the economy nearly 300,000 jobs, The Washington Times reports.