The stage is set for the Senate to vote on the Keystone XL pipeline next week, following House approval of a bill to authorize the $8 billion project from Canada.
Yet as advocates, led by Sen. Mary Landrieu, D-La., neared the 60 votes needed to secure Senate passage of the same bill, President Barack Obama still appeared to hold the upper hand over Congress for now. The 252-161 vote for the project in the House fell 38 votes short of a veto-proof majority.
BAGHDAD (AP) — Iraqi government forces on Friday drove Islamic State militants out from their remaining strongholds inside the oil refinery town of Beiji, two security official said, in a key victory over the terror group that has captured much of northern and western Iraq in a stunning summer offensive.
The Iraqi troops, backed by allied Sunni militiamen, also lifted the Islamic State group's siege of the oil refinery, Iraq's largest, and hoisted Iraq's red, white and black flags atop the sprawling complex hosting the facility.
Oil industry analysts said news that Halliburton is in talks to acquire Baker Hughes could spark other oilfield services companies including Schlumberger, GE and Siemens to make bids and spark a bidding war over the company, FuelFix reports.
Continental Resources CEO Harold Hamm told Politico that the Keystone XL pipeline is "not relevant" due to new pipelines and criticized Congress for wasting time on the project instead of moving on other pro-energy legislation like ending the crude oil export ban.
As speculation increased that OPEC would act to reduce output to support oil prices, Brent crude rose $1.92 to end at $79.41 a barrel and West Texas Intermediate posted its biggest gain since September, rising $1.61 to close at $75.82 a barrel, Bloomberg reports.
Exxon Mobil Corp. rejected allegations from plaintiffs suing the company for last year's Pegasus pipeline spill in Mayflower, Ark., saying it didn't mark documents about pipeline maintenance as confidential, The Associated Press reports.
Russian President Vladimir Putin said the country is readying for a "catastrophic" decline in the price of oil, but its reserves of more than $400 billion will allow Russia to endure, Bloomberg reports.
JPMorgan Chase has agreed to pay Eagle Ford mineral rights' holders represented by the South Trust Syndicate Trust about $40 million to settle a suit alleging the bank cut mineral rights deals with its commercial clients, a plaintiff tells the San Antonio Express-News.
The GOP chorus denouncing the Environmental Protection Agency move to lower the ozone standard was joined by House Majority Leader Rep. Kevin McCarthy, R-Calif., senior figures on the House Energy and Commerce Committee, as well as Sen. John Thune, R-S.D., who is chairman of the Republican Senate caucus, The Hill reports.
Ahead of the OPEC meeting in Vienna, oil prices recovered Wednesday from earlier drops triggered by word of a greater-than-expected increase in U.S. crude inventories as well as a comment from Saudi Arabia's oil minister that there would be no need for a production cut. West Texas Intermediate crude for January delivery slipped just 3 cents to $74.06 a barrel on the Nymex, while in London Brent was 5 cents lower to $78.28, Bloomberg reports.
Freeport LNG has closed on financing deals – from Japanese sources -- for two of three planned liquefaction trains at its export facility, and should begin construction on its plant in Quintana, Texas this week, with operation projected to start in 2018, FuelFix reports.
Uranium prices are on track for an 18 percent increase in 2014, which would be the first annual gain for the energy commodity in four years and make it the best performing category in the sector, Bloomberg reports.
Nearly all of the claims dealt with through the settlement process after the 2010 BP Gulf of Mexico spill were handled correctly, according to a third party audit released Tuesday by claims administrator Patrick Juneau, The Times-Picayune reports.
The legal fight over the Environmental Protection Agency’s Waters of the U.S. rule could revolve around what’s meant by the words “adjacent” and “neighboring,” as well as how the regulation defines a flood plain, E&E reports.
After a shareholder lawsuit filed to stop the $2.86 billion merger announced in June between C&J Energy Services and the fracking business of Nabors Industries, a judge in Delaware Tuesday ordered a 30-day suspension to allow for competing offers, but C&J said it would appeal, FuelFix reports.
Oncor’s proposal to install battery storage across the grid in Texas is coming in for criticism from a state lawmaker – Republican State Sen. Troy Fraser said his support for the $5.2 billion project came before he realized an increase in transmission rates would be part of the package, The Dallas Morning News reports.
Speaking about the failure of Google’s renewable energy project RE<C, two engineers, writing in IEE Spectrum recently, said trying to fight climate change using only existing technologies like wind and solar energy won’t work, Fox News reports.