The oil and gas industry, struggling with lower prices, accounted for much of the 61,000-plus in job cuts announced last month, but the Labor Department is still expected to announce Friday some gains in employment nationwide, USA Today reports.
Lower oil prices and growing jobs cuts in the oil and gas industry created a smaller audience at this week's Offshore Technology Conference in Houston, which saw attendance down 12.5 percent from 2014 to 93,400, FuelFix reports.
BELIZE CITY, Belize (AP) — Belize is considering new offshore drilling regulations that could open up nearly the entire coast to exploration and exploitation, environmental groups have warned, calling it a threat to vital reefs, fisheries and tourism concerns.
The proposal recently made public by the Ministry of Energy would even allow drilling in the vicinity of the Great Blue Hole, a world-famous diving destination that can be seen from space and looks just like what its name suggests, the U.S.-based activist group Oceana said.
The Republican chair of the Senate Energy and Natural Resources Committee is prepared to charge forward on a broad energy reform package, while separately launching an effort to end the 40-year-old ban on crude oil exports.
Speaking at a briefing with reporters Thursday, Sen. Lisa Murkowski, R-Alaska, said her bill to end the export ban, a policy she has decried as “domestic sanctions” on U.S. oil producers, would be introduced on Tuesday.
Oil fell more than 3 percent on Thursday as traders took profits and faced a stronger dollar, The Wall Street Journal reports. West Texas Intermediate fell $1.99 to $58.94 a barrel on the NYMEX, while in London, Brent crude lost $2.33, settling at $65.54 a barrel.
The director of the Bureau of Safety and Environmental Enforcement says his staff is exploring the possibility of taking companies' performance history and overall experience into account when assessing their fitness to perform as offshore drillers, FuelFix reports.
GEORGETOWN, Guyana (AP) — The latest effort to find oil and natural gas in disputed waters off Guyana is showing promise, a representative of Exxon Mobil in the South American country said Thursday.
Exxon Mobile country manager Jeff Simons said a bore hole in the Atlantic Ocean in an area claimed by Venezuela has produced positive results though he declined to discuss specifics about what had been found.
BISMARCK, N.D. (AP) — A shipment of oil involved in an explosive train derailment in North Dakota had been treated to reduce its volatility, a company official said Thursday.
Hess Corporation spokesman John Roper said the company's oil complied with a state law that requires propane, butane and other volatile gases to be stripped out of crude before it can be transported. That conditioning process lowers the vapor pressure of the oil to reduce the chance of an ignition during a crash.
Seeking to fill two key Department of Transportation posts that have been vacant for months, President Barack Obama has nominated Marie Therese Dominguez to become the head of the Pipeline and Hazardous Materials Safety Administration and Sarah Feinberg to the top job at the Federal Railroad Administration, The Hill reports.
The Hill reports that the House has scheduled votes for next month on proposals to let states opt out of the Clean Power Plan, to weaken the proposed rule on disposal of coal ash at power plants, and to reform toxic chemical safety laws.
A pause in dollar gains and a drop in the number of rigs drilling for oil in the U.S. sent prices skyrocketing Friday. U.S. benchmark crude leaped 4.5 percent, or $2.62, to settle at $60.30 a barrel on the Nymex, while in London, Brent soared $2.98 - 4.8 percent - to $65.56, Reuters reports.
Illinois Attorney General Lisa Madigan and the advocacy group Public Citizen have filed a complaint with the Federal Energy Regulatory Commission charging that Dynegy Inc. manipulated electricity markets, the St. Louis Post-Dispatch reports.
The Energy Information Administration is struggling to make accurate projections in an era of volatile energy prices, surging renewable energy, and global warming, according to U.S. News & World Report.
The goal that Kansas utilities generate 20 percent of their electricity from renewable sources is now nonbinding rather than a mandate, as Gov. Sam Brownback has signed compromise energy legislation hammered out between the wind industry and its critics, The Associated Press reports.
The insistence that oil companies be able to drill relief wells in the event of an emergency is a major sticking point when it comes to the Obama administration plan to allow Arctic drilling, according to comments filed by groups including the American Petroleum Institute, FuelFix reports.