BUCHAREST, Romania (AP) — Russian crude producer Lukoil says Romanian authorities have lifted a freeze on its assets and activity that was placed as a result of a probe into tax evasion and money laundering worth 230 million euros ($290 million).
Lukoil said Tuesday that its Petrotel refinery in Romania was preparing to resume operations after a court ruled that a freeze place last week on its bank accounts, assets and refining activities could be lifted. The probe, however, continues.
BUCHAREST, Romania (AP) — U.S. oil company Chevron says it has begun drilling for shale gas at its exploration well site in northeastern Romania, a project which has drawn protests from local residents.
The company said the drilling, which will probe to a depth of 4,000 meters (13,000 feet), started Tuesday after "safety and performance checks" had been completed and rock samples will be taken to determine if natural gas is present.
BUCHAREST, Romania (AP) — U.S. oil company Chevron says it has resumed exploration for shale gas in northeastern Romania a day after suspending work when hundreds of anti-fracking protesters tore down fences.
BUCHAREST, Romania (AP) — U.S. oil giant Chevron has resumed its search for shale gas in northeastern Romania amid ongoing opposition from local residents.
In October, Chevron suspended searching for shale gas in the village of Pungesti following protests in the capital and the local area against fracking.
The company said Monday its priority was to "conduct these activities in a safe and environmentally responsible manner." It gained permits to drill exploratory wells in Pungesti in October but halted activity after protests. On Monday, hundreds of police blocked a road to stop residents demonstrating.
BUCHAREST, Romania (AP) — Hundreds of Romanians opposed to shale gas extraction in their village on Wednesday scuffled with police at an exploration site where energy giant Chevron plans to start drilling.
BUCHAREST, Romania (AP) — Romania's prime minister predicted Monday that Parliament will reject plans for Canadian-run gold mine following large protests over the cyanide used in its extraction process.
Short-covering and the expiration of the front month contract helped power oil prices to a huge gain Friday. West Texas Intermediate crude for January delivery shot up 5 percent, or $2.41, to settle at $56.52 a barrel on the Nymex, while in London February Brent finished $2.11 higher at $61.38, Reuters reports.
Oilfield services company Baker Hughes reported Friday that 1,875 rigs were drilling for oil and gas in the U.S. this week, a drop of 18 and the second week in a row that the number has fallen, FuelFix reports.
Comparing present-day statistics with numbers during the oil bust in the mid-1980s has led JP Morgan Chase economist Michael Feroli to warn that Texas could slip into a regional recession next year, FuelFix reports.
Job losses in the power generation sector over the past three years topped 5,800, according to data released by the Energy Information Administration Friday, which said all parts of the industry were affected other than renewable energy, The Hill reports.
Avenue Capital, the hedge fund run by Marc Lasry that specializes in buying distressed companies’ debt, is raising $750 million for a fund that will focus on the energy sector, according to the Pennsylvania Public School Employees’ Retirement Board, which confirms it has put in $200 million, the New York Post reports.
Tesla is testing the market for battery swaps: Near California supercharging stations where Model S owners can top up their batteries for free, the company is creating a facility where drivers can pay a cost equivalent to a tank of gasoline and get a fully-charged battery installed in three minutes, The Wall Street Journal reports.
The growth of global carbon emissions slowed in 2013 -– although the total of 35.3 billion tons did set a record -- and the rate of increase tailed off despite an uptick in economic activity, says a report from the European Commission’s Emissions Database for Global Atmospheric Research, or EDGAR, according to E&E.
INEOS hopes to get commercial shale gas production under way in Britain before the end of the decade, according to documents the government released Friday, which detailed the company’s presentation to the Department of Energy and Climate Change in February, Platts reports.