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Editorial: Risky loans and ethanol
Before making any more fuel choices, Congress and the new administration of Barack Obama should compare a past governmental foray into the energy market with the mortgage industry’s disastrous unraveling.
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Unconventional resources to keep pivotal supply role
For the past several years, leading major oil companies and independent producers have believed unconventional resources to be key elements of future energy supply.
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Obama’s energy, environment strategies to be ‘mixed bag’
As Barack H. Obama was sworn in Jan. 20 as the 44th US president, his administration announced an energy and environment program with provisions directly affecting the oil and gas industry in several areas.
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Watching Government: BLM’s Utah plans
Organizations opposing the US Bureau of Land Management’s latest Utah oil and gas lease sale were elated when a federal district court judge issued a temporary restraining order Jan. 17 preventing BLM from moving forward with the leases.
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Senate confirms Salazar, Chu as DOI, DOE secretaries
The US Senate confirmed Ken Salazar’s nomination as Interior secretary and Steven Chu’s nomination as Energy secretary on Jan. 20.
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MMS to publish initial 2010-15 OCS leasing draft
The US Minerals Management Service on Jan. 16 announced a draft of the proposed 2010-15 US Outer Continental Shelf oil and gas leasing program and preliminary plans for an Atlantic Coast environmental impact study.
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IEA slashes 1 million b/d from 2009 oil demand outlook
In its most recent monthly Oil Market Report (OMR), the International Energy Agency slashed its oil demand outlook for 2009, and updated its demand figures for the fourth quarter of 2008.
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Oil companies focus on liquidity, efficiency, analysts say
Oil and gas companies report that their immediate focus is on maintaining liquidity and promoting operational efficiency in preparation for an eventual economic upswing, consultants and analysts said.
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Federal judge blocks oil and gas leases in Utah
The Independent Petroleum Association of Mountain States expressed disappointment that a federal judge blocked the US Bureau of Land Management from issuing oil and gas leases in Utah.
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Groups sue BLM over New Mexico oil, gas operations
The Western Environmental Law Center and other groups filed a lawsuit against the US Bureau of Land Management, claiming the agency violated federal law in granting oil and gas leases on public land in New Mexico.
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WoodMac: N. America to import more LNG
Imports of LNG into North America are set to increase to 4.2 bcfd in 2014 from 1.7 bcfd in 2009, according to a report by consultants Wood Mackenzie Ltd.
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Petrobras to present 5-year strategic plan to investors
Brazil’s Petroleo Brasilerio SA (Petrobras), pending approval of its board, will present its latest 5-year strategic plan to investors and analysts on Jan. 26, the company said.
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Obama puts Chavez on watch
If anyone in the oil and gas industry imagined the administration of US President Barack H. Obama would be soft on Venezuela, they will have to readjust their imaginings.
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COMPANY NEWS: LyondellBasell Industries files Chapter 11 bankruptcy
LyondellBasell Industries has filed for reorganizational bankruptcy for its US operations and Basell Germany Holdings.
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Personnel Moves and Promotions: Apache founder, longtime chairman retires
Raymond Plank, founder and longtime chairman of Apache Corp., Houston, retired Jan. 15 after 54 years with the firm that he grew from a pioneer public drilling program to one of the largest publicly traded independent oil and gas producers in the industry, with international operations and a market value of $25 billion.
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