As of late, Saudi Arabia is making strides to achieve higher value from its abundance of crude oil and natural gas through the production of chemicals and chemical products, according to the state-owned company's senior vice-president of finance.
Administrative profusion makes clear the central aim of the US Environmental Protection Agency's June 6 critique of an environmental report crucial to the Keystone XL pipeline proposal. The aim is to delay.
As the eminent force in the Organization of Exporting Countries, Saudi Arabia in recent years has managed supply at the margin of the oil market virtually alone.
US President Barack Obama and members of his administration again talked of dipping into the nation's Strategic Petroleum Reserve as energy prices climbed June 8 after ministers of the Organization of Petroleum Exporting Countries failed to alter oil production quotas at an acrimonious meeting in Vienna.
Transocean Ltd. asked the US Coast Guard to revise its draft report on a joint investigation by the USCG and the Bureau of Ocean Energy Management, Regulation, and Enforcement into the Deepwater Horizon semisubmersible explosion and fire.
The US Department of the Interior has not made its new oil and gas regulations sufficiently clear for drilling permits and exploration plans to be approved within a reasonable time period, an American Petroleum Institute official charged.
The US Bureau of Land Management, US Environmental Protection Agency, and Anadarko Petroleum Corp. have reached an air-quality agreement that will let a major natural gas development project in eastern Utah move forward, US Interior Sec. Ken Salazar reported.
An ExxonMobil Corp. subsidiary's $1.69 billion acquisition of two private companies with Marcellus shale assets deepens the major's commitment to unconventional resource development.
Penn Virginia Corp., Houston, is producing a combined 4,096 b/d of oil and 2,072 Mcfd of gas from six Eagle Ford shale wells in South Texas and is running three rigs in the play.
One of the largest US electric utilities projects a minimum capital investment of $6-8 billion by 2020 to comply with proposed US Environmental Protection Agency regulations that would affect coal-fired power plants.
Saudi Arabia will increase its oil production to 10 million b/d in an effort to meet rising global demand, especially in China, where imports rose by 876,000 b/d in May over last year.
Forces opposed to the rule of Libya's leader Moammar Gadhafi said they hope to restart oil production from the war-torn North African nation in an effort to increase revenues.
There's a deepening gulf between Saudi Arabia and Iran these days, and it has nothing to do with the saline body of water that has separated them for centuries.
The expected balance of supply and demand in this year's second half indicates a tightening market, the Organization of Petroleum Exporting Countries said in its latest monthly oil market report.
China surpassed the US to become the world's largest energy consumer in 2010, as the rebounding global economy drove worldwide consumption higher and at a rate not seen since the aftermath of the 1973 oil-price shocks, according to the latest annual BP Statistical Review of World Energy.
