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.
Romania's new left-leaning government has pledged a moratorium on shale gas exploitation and will review a controversial Canadian plan to build Europe's largest open-cast gold mine.
Prime Minister-designate Victor Ponta also said he will respect commitments to the International Monetary Fund and increase public sector wages that were slashed by 25 percent in 2010 to meet the terms of a €20 billion($26 billion) IMF-led loan.
Oil prices appeared holding steady early Monday, as the talks over Iran’s nuclear program appeared headed for a break to be resumed next month and ahead of an OPEC meeting that will make key decisions on crude production. U.S. benchmark crude was 15 cents higher at $76.66 a barrel in electronic trading on the Nymex, while in London Brent edged up 4 cents to $80.40, Reuters reports.
In the Republican’s nationally broadcast address over the weekend, Rep. Bill Cassidy, R-La. -- who is seeking to unseat Sen. Mary Landrieu, D-La. in a December runoff election -- called on President Barack Obama to approve the Keystone XL pipeline, saying the case for the long-delayed project is “clear and obvious,” The Hill reports.
With Sen. Lisa Murkowski, R-Alaska, taking over as head of the Energy and Natural Resources Committee in the new Republican-controlled Senate, the issue of drilling in the Arctic National Wildlife Refuge is likely to be revisited, The Hill reports.
George Banks of the R Street Institute, former committee staffer for Sen. James Inhofe, R-Okla., predicts that the new Republican-controlled Congress will lift the ban on crude oil exports and push through approval of the Keystone XL pipeline, but that there won’t be a significant upsurge in bipartisanship on Capitol Hill – assessments Alison Cassady of the Center for American progress doesn’t share, The Wall Street Journal reports.
The U.S. power supply ought to be able to withstand another polar vortex should the frigid temperatures descend again this winter, although margins are shrinking and changes may be needed to the way the availability of resources is calculated, according to an assessment from the North American Electric Reliability Corporation, Platts reports.
In a year when initial public offerings for master limited partnerships raised a record $6.8 billion, analysts are warning that investments in pipeline and midstream MLPs no longer appear to offer their traditional low-risk, high-yield benefits with the same degree of consistency, The Wall Street Journal reports.
With the cost of solar and wind power dropping dramatically in recent years, the renewable energy sources are becoming more directly competitive with electricity from gas and coal-fired plants, The New York Times reports.
State legislatures have so far rejected attempts to overturn renewable energy mandates -– although Ohio this year did freeze its green energy targets -– but the Koch-founded Americans for Prosperity is continuing to pour money into the fight against them, National Journal reports.
The shale boom that has brought wealth and jobs to North Dakota is starting to be questioned by some residents concerned about health, safety and pollution costs as well as financial exploitation by major companies making moves that are backed by state regulators, The New York Times reports.