Markets shrugged off the International Energy Agency's release of 60 million bbl of crude and petroleum products from emergency government supplies in a vain attempt to drive down energy prices.
The US oil and natural gas industry supports 2 million jobs in Texas and 24% of the Lone Star State's economy, according to a study commissioned by the American Petroleum Institute as conducted by PricewaterhouseCoopers LLP.
Iran continues to supply oil to India, despite receiving no payment for months, in an effort to ward off predatory efforts by Saudi Arabia, according to Mohammad Ali Khatibi, Iran's governor for the Organization of the Petroleum Exporting Countries.
The US House Interior, Environment, and Related Agencies Appropriations Subcommittee approved a bill that would set fiscal 2012 budgets for the US Department of the Interior and the Environmental Protection Agency at $27.5 billion.
As the Atlantic Council (AC) released its report on environmental issues and regulatory challenges surrounding development of European unconventional natural gas resources at a July 12 briefing, it became apparent that there were nearly as many similarities with the US as there were differences.
A Virginia government official joined oil and gas industry groups in criticizing a draft US Forest Service plan with a preferred option allowing oil and gas leasing in the George Washington National Forest, but banning horizontal drilling.
Libya's Transitional National Council, comprised of forces opposed to the rule of Moammar Gadhafi, said it plans on contracts with integrated international oil companies when the time comes to resume production.
Iraq has signed an agreement valued at $12 billion with Royal Dutch Shell PLC and Mitsubishi to capture natural gas currently being flared in oil fields in the country's southern region.
Changes in federal government policies to encourage more US oil and gas exploration and development would create thousands of new jobs, improve US energy security, and increase federal, state, and local government revenue, two studies commissioned by oil and gas industry associations show.
Federal approval of higher ethanol concentrations in gasoline without further testing could seriously damage engines instead of improving the environment, several witnesses told a subcommittee of the House Science, Space, and Technology Committee on July 7.
Two tax changes affecting US oil and gas companies under discussion as ways to lower the federal budget deficit would cost the government more money than they'd raise, according to a new study.
Chesapeake Energy Corp. has formed Chesapeake NG Ventures Corp. (CNGV) to invest in technology promoting the use of compressed natural gas, LNG, and gas-to-liquids fuels in the US.
