The drop in rig count that has followed the slide in oil prices won’t dent U.S. crude production too much in 2015, assuming that prices begin to recover in the later part of the year, according to statistics from the Energy Information Administration, The Hill reports.
Former BP executive David Rainey has seen his request to have the U.S. Supreme Court hear his appeal in an obstruction of Congress case rejected: He stands accused of lying to lawmakers about the severity of the Deepwater Horizon disaster in 2010, Reuters reports.
The capital and exploration budget for Hess Corp. will drop by 16 percent to $4.7 billion in its 2015 outlay, the company said, adding that the number of rigs it plans to operate will drop by nearly half to an average of 9.5, FuelFix reports.
NEW DELHI (AP) — President Barack Obama was leading a bipartisan delegation of lawmakers, senior U.S. officials and two former secretaries of state to Saudi Arabia Tuesday to pay respects to the royal family following King Abdullah's death.
Obama cut short the final day of his visit to India to make the trip, departing New Delhi Tuesday afternoon without making his planned visit to the Taj Mahal. Obama's four-hour stop in Saudi Arabia was to include a meeting with new monarch King Salman bin Abdul-Aziz Al Saud and a dinner with other Saudi officials.
More than 4 million gallons of a mixture of fresh water, brine and oil have been pumped from the area affected by the largest saltwater spill of North Dakota's current energy boom, according to a report issued Monday by the Environmental Protection Agency.
The report provides an overall assessment on the nearly 3 million-gallon spill of saltwater generated by oil drilling that leaked from a ruptured pipeline that operator Summit Midstream Partners LLC detected on Jan. 6. It remains unclear exactly when the spill occurred and what caused it.
ANCHORAGE, Alaska (AP) — The federal Department of the Interior will make additional areas of Arctic Ocean waters off-limits to drilling when it announces a new five-year offshore drilling plan, a member of the Alaska congressional delegation said Monday.
U.S. Sen. Lisa Murkowski, R-Alaska, said she was briefed last week by federal officials who told her the Obama administration will permanently remove from consideration some areas that had previously been deferred from the federal leasing program.
A cloture motion by Sen. Mitch McConnell to put the Keystone XL approval bill on track for passage by the Senate failed 53-39 Monday night, extending for now the increasingly partisan debate over the $8 billion project.
The majority fell short of the 60 needed to end open debate and potentially pass the bill as soon as this week. Just four Democrats voted for the motion, while eight senators did not vote.
A motion to wrap up amendment debate and move toward Senate passage of the Keystone XL pipeline bill failed, 53-39, on Monday.
Just four Democrats voted for the cloture motion to end debate, which required a 60-vote majority for adoption.
The motion was scheduled late Thursday by Majority Leader Mitch McConnell, R-Ky., after Democrats sought more time to consider pending amendments, and he called successful votes to table five Democratic amendments.
The vote extends amendment debate into the coming days, with eight amendments currently pending on the Senate floor-- seven by Republicans and one Democratic -- and scores more submitted for potential votes.
BILLINGS, Mont. (AP) — Authorities have lowered their estimate of how much oil spilled from a broken pipeline beneath the Yellowstone River in eastern Montana, briefly contaminating the water supply of a city downstream.
U.S. Environmental Protection Agency spokeswoman Wendy Thomi said Monday that Bridger Pipeline Co. recovered about 20,000 gallons of crude from its pipeline. That's 10,000 gallons more than originally reported, meaning 30,000 gallons went into the river Jan. 17.
Oil prices surged 8.3 percent in Friday trading as rig data suggested a slowdown in shale oil development, with Brent crude rising $3.86 to $52.99 a barrel and U.S. crude climbing $3.71 to settle at $48.24 a barrel, Reuters reports.
A survey conducted by Reuters reports that OPEC output rose by 130,000 barrels per day in January as Angola boosted exports and Persian Gulf producers kept steady or increased output, a signal that some members plan to stay the course on maintaining output despite low oil prices.
Despite the collapse of crude oil prices last year, the latest Commerce Department report of gross domestic output showed outlays for new oil rigs and wells rose 8.9 percent in the fourth quarter of 2014, even as equipment spending across all U.S. businesses fell, Bloomberg reports.
Chevron CEO John Watson, after his company reported lower profits and announced budget cuts, voiced optimism for long-term industry prospects, saying the price of oil will have to rise above $50 per barrel to support new exploration to meet energy needs, FuelFix reports.
A new poll conducted by The New York Times, Stanford University and Resources for the Future suggests that more than two-thirds of Americans, including 48 percent of Republicans, say they consider themselves more likely to support a candidate who supports action to combat climate change.
The National Biodiesel Board in a letter to the Environmental Protection Agency voiced frustration with the agency's delayed implementation of biodiesel mandates, saying the slow movement has caused some producers to reduce staff and forced others into bankruptcy, The Hill reports.
A survey of economists by Bloomberg projects that many of the world's largest crude oil exporters like Saudi Arabia, Kuwait and Qatar could see budget surpluses take hits and slip into deficits as global oil prices remain low.
Chevron, after posting a 30 percent decrease in earnings from the previous year in the fourth quarter 2014, abandoned plans to explore for shale gas in Poland, dealing a blow to efforts to develop hydraulic fracturing and shale drilling industries in Europe, The New York Times reports.
In an interview with E&E, Rep. Cynthia Lummis, R-Wyo., vice chairwoman of the Natural Resources Committee and leader of a new Interior and EPA oversight panel, discusses her familiarity with development and ranching issues in western states and her plans to limit Obama administration regulations on public land use.