ANCHORAGE, Alaska (AP) — A fire Thursday at an offshore natural gas platform in Alaska's Cook Inlet destroyed the crew's living quarters and forced four workers to evacuate, but no one was injured and the environmental risk was considered minimal, responders said.
The blaze broke out at about 7:30 a.m. By evening, the unified command set up for the incident said the fire was fully contained. An earlier Coast Guard report that the fire flared up again was incorrect.
Hilcorp Alaska LLC owns the platform and 11 others among the total of 16 platforms in the inlet, a vast body of water with stunning mountain views.
Goldman Sachs has cut its growth projections for future LNG demand and warns that investors should be wary about the costs of major projects and “realistic about expectations for further contracts,” Bloomberg reports.
A bearish outlook is taking hold of natural gas prices ahead of an expected announcement of a storage build from the Energy Information Administration combined with a mild October weather forecast, as Wednesday’s settlement for November delivery declined 9.8 cents to $4.023 per million British thermal units on the Nymex, Platts reports.
Problems encountered by West Texas Guar Inc., which operated a processing facility to extract a thickening agent from the legume guar, has cost investors and farmers millions of dollars, The Wall Street Journal reports.
NEW YORK (AP) — The drilling services company Baker Hughes on Wednesday implemented a policy of disclosing all of the chemicals used in its fracking operations.
Environmental groups and local communities have for years been pushing for full disclosure of the chemicals used in hydraulic fracturing, a drilling technique also known as fracking.
In response, the oil and gas industry set up an online database -- at FracFocus.org -- that lists many of the chemicals, but held back crucial information on certain chemicals and the amounts used on the grounds that it would provide competitors with trade secrets.
Following six months of negotiations with its suppliers, Baker Hughes says starting Wednesday it will list all of the individual chemicals it uses for fracking on the industry website FracFocus, although it won’t provide information about the proportions used in its cocktails, FuelFix reports.
The retirement of coal plants over the next six years – pushed by tougher federal emissions regulations – should cause an increase of up to 5 billion cubic feet a day in demand for natural gas, according to Standard & Poor’s Ratings Direct, Platts reports.
NEW YORK (AP) — Exxon Mobil issued a report Tuesday that acknowledges the environmental risks of hydraulic fracturing but also defends the practice as being better for the environment than other types of energy production and generation.
Under pressure from the corporate responsibility group As You Sow, as well as New York City Comptroller Scott Stringer and other shareholders, Exxon agreed earlier this year to reveal more about how it manages the risks involved with the drilling technique, known as fracking.
The report acknowledges that drilling wells and producing oil and gas from shale formations and other so-called unconventional sources do carry risks, including the possibility of water contamination and leaks of natural gas into the atmosphere that contribute to climate change.
NEW YORK (AP) — Exxon Mobil is explaining how it is working to manage the risks of hydraulic fracturing in a report issued in response to pressure from a corporate responsibility group, the New York City Comptroller, and other shareholders.
The report acknowledges that drilling wells and producing oil and gas from shale formations and other so-called unconventional sources do carry risks. The report also goes into detail about the benefits of unconventional oil and gas production and how it compares favorably to many other types of energy production and generation.
Launching personal attacks on environmental activists and celebrity supporters should be part of the oil and gas industry strategy if it wants to fight for expanded drilling, according to advice from consultant Richard Berman as he drums up support for his "Big Green Radicals" PR campaign, The New York Times reports.
The re-election contest for Rep. Fred Upton, R-Mich. and chair of the House Energy and Commerce Committee, is attracting last-minute money -- including some from the American Future Fund for an ad extolling his support for the Keystone XL pipeline -- as polling indicates his race against Democrat Paul Clements is a tight one, The Hill reports.
In an effort to maintain Democratic control of the Senate, environmental groups are supporting some backers of the Keystone XL pipeline –- like Michelle Nunn in Georgia and Sen. Kay Hagan in North Carolina -– as well as fracking supporter Sen. Mark Udall in Colorado, The Wall Street Journal reports.
Word that OPEC has boosted its crude output to a 14-month high sent oil prices plunging again early Friday. West Texas Intermediate crude for December delivery dropped 1 percent, or 81 cents, to $80.31 a barrel in electronic trading on the Nymex, while in London Brent was down 93 cents to $85.31, Bloomberg reports.
A tentative settlement Cheniere Energy has reached with shareholders over lawsuits would block executives from receiving shares authorized in February 2013 but not paid out, according to a filing with the Securities and Exchange Commission, FuelFix reports.
Robert MacLean –- now a solar power consultant after he was fired by the Department of Homeland Security for leaking information about the air marshal program -– says many federal employees, including those in the Environmental Protection Agency and the Departments of Energy and Interior, could be affected by the outcome of his lawsuit now before the U.S. Supreme Court, E&E reports.
The capacity market and infrastructure improvements will be the topics of discussion at a conference between New York officials and representatives of the Federal Energy Regulatory Commission Nov. 5, Reuters reports.