The continuing protests against shale gas drilling in Algeria reflect population concerns about the use of water for fracking in a desert, as well as lingering anti-colonial resentment focused on French oil company Total, The New York Times reports.
PARIS (AP) — French energy producer Total wrote down the value of oil and gas fields in Canada and the United States and said it would slash investment after the collapse in market prices led to a net loss of $5.66 billion for the fourth quarter.
Total SA said Thursday its earnings were weighed down by $6.5 billion in charges, mainly against the value of oil sands in Canada and unconventional gas fields in the United States.
The latest round of sanctions against Russia over its actions in Ukraine have major energy companies -- including BP and Total -- thinking again about the way they do business with Moscow, The New York Times reports.
Major oil companies including Chevron, BP and Total are cutting or delaying expensive megaprojects because costs are outstripping expected return, and they’re trading blame with oilfield services companies about what’s causing the cost inflation, The New York Times reports.
PARIS (AP) — French energy company Total SA is hooking up with Russia's largest private oil company to explore and develop a huge Siberian shale oil field, despite Western sanctions and anger over the Kremlin's role in Ukraine's crisis.
The deal signed Friday with Russia's Lukoil draws new attention to French economic ties with Russia, and the French government's reluctance to punish Moscow too heavily.
Total says in a statement that the two will set up a joint venture to develop the Bazhenov oil formation in western Siberia, believed to hold some of the world's largest shale oil deposits. It says Lukoil will have 51 percent of the venture and Total 49 percent.
French oil giant Total says it is setting a 2017 start date for the Kaombo ultradeepwater project off Angola after finding a way to slash the projected cost by $4 billion, down to $16 billion, The New York Times reports.
YANGON, Myanmar (AP) — Major oil companies including Total, Chevron, Woodside Energy and Shell have won bids for offshore oil and gas exploration blocks off Myanmar's western and southern coasts, the country's Energy Ministry said Wednesday.
An announcement on the ministry's website said 13 oil companies won bids to explore in 10 shallow water blocks and 10 deep water blocks in the Gulf of Martaban and Tanintharyi, off the western state of Rakhine.
At last weeks CERAWeek summit in Houston, executives from large companies including Chevron and Total urged oil suppliers to show restraint in the costs of new development, warning increasing extraction costs will not be sustainable for long, FuelFix reports.
LONDON (AP) — France's Total has agreed to explore for shale gas in Britain, making it the first major oil company to enter the country's market in the face of widely publicized environmental protests.
Total SA, Europe's third-largest oil producer, said Monday it acquired a 40 percent interest in two exploration licenses in eastern Britain.
Environmental activists oppose the extraction of fuel from shale, known as hydraulic fracturing, or fracking, saying it contaminates ground water. The process injects hundreds of thousands of gallons of water laced with chemicals into the ground to shatter the rock and free the gas.
PARIS (AP) — The French oil conglomerate Total will explore for shale gas in Britain, joining a boom that has overhauled world energy markets.
Total said Monday it has acquired a 40 percent interest in two British exploration licenses, both in eastern Britain, becoming the major stakeholder. The next biggest partner, at 17.5 percent, is the Dart Energy Europe subsidiary GP Energy Limited.
Poland and Britain are the only countries in Europe actively exploring for shale gas. Other countries have been hesitant, fearing the environmental repercussions. Extracting fuel from shale can require hundreds of thousands of gallons of water, and chemicals forced into the ground to shatter the rock and free the gas, a process known as hydraulic fracturing, or fracking.
The deadlines for meeting the goals in the Environmental Protection Agency’s Clean Power Plan don’t represent a glide path, but “a cliff,” an executive with a Phoenix-area utility told the Federal Energy Regulatory Commission during a regional meeting intended to gather feedback, E&E reports.
Moves to develop carbon capture technology would get a boost from legislation introduced Thursday by Sens. Heidi Heitkamp, D-N.D., and Tim Kaine, D-Va., which designates more Energy Department funding for research and also offers incentives for those who adopt so-called “clean coal” technology, The Hill reports.
Three senior House Republicans, including Energy and Commerce chair Rep. Fred Upton, have sent a letter to Energy Secretary Ernest Moniz, demanding to know whether his department was planning any use for Yucca Mountain other than accepting nuclear waste, E&E reports.
Fracking opponents have filed a petition with Gov. Jerry Brown, D-Calif., demanding that he ban hydraulic fracturing in the state because of the threat the practice poses to health and safety, The Hill reports.
The cleanup costs to states for abandoned wells – a burden they’re not well equipped to take on – could skyrocket as lower oil prices take some of the steam out of the shale drilling boom, The Wall Street Journal reports.
A natural Pacific Ocean cooling cycle has helped to keep global warming in check over the past decade, say researchers writing in the journal Science, but they warn that warming is likely to accelerate again once the cycle finishes, Reuters reports.
Sen. Jim Inhofe, R-Okla., chair of the Environment and Public Works Committee, threw a snowball at the Senate's presiding officer as he gave a speech criticizing what he called the “hysteria” over climate change, National Journal reports.
The letters sent to universities by Rep. Raul Grijalva, D-Ariz., the ranking member on the House Natural Resources Committee, asking about funding sources for researchers’ climate studies, has generated criticism and protest from academics, National Journal reports.
Jim Gordon, president of the stalled offshore project Cape Wind, has offered praise for the push to get a wind power coalition off the ground, and also backed a measure introduced in the state legislature that would require utilities to buy certain quantities of wind and hydropower, WWLP reports.