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International news for oil and gas professionals

US energy policies should be adjusted to reflect a changed energy outlook resulting from growing unconventional oil and gas activity, experts told a US House Energy and Commerce subcommittee's hearing.

Experts from the oil and gas industry, government, academia, and environmental and other non-government organizations agree on key risks of shale gas development activity, a research group said.

Colorado's Oil & Gas Conservation Commission (COGCC)voted 8-1 to require new oil and gas wells to be at least 500 ft from homes and buildings, effective Aug. 1.

US President Barack Obama proposed using some federal oil and gas revenue to fund an energy security trust that would support "research and technology to shift our cars and trucks off oil for good."

Washington's major league baseball team surprised many people when it became the National League's eastern division champion in 2012 and made it to the post-season playoffs for the first time.

Three US Senate Republicans introduced legislation to force the US Environmental Protection Agency to base annual cellulosic biofuel quotas on actual available production instead of projected estimates.

US Sen. Mark Begich (D-Alas.) has outlined a list of "Arctic priorities" for President Barack Obama, including additional streamlining of Arctic oil and gas permit applications. Begich is chairman of the Senate Subcommittee on Oceans, Fisheries, and the Coast Guard.

The quest for Arctic oil and gas resources "is not for the faint of heart, nor for those with less-than-deep pockets," Ernst & Young said in a special report, adding operators confront a harsh climate, limited infrastructure, exceptionally long lead times, and complex logistics for spill containment and recovery.

ExxonMobil Corp. and Russia's Rosneft have agreed to expand a 2011 strategic cooperation agreement to include far more Russian Arctic exploratory acreage, possible Rosneft participation in ExxonMobil's Point Thomson gas-condensate field in Alaska, and a potential Russian Arctic LNG project.

Worldwide liquid fuels consumption is expected to reach 90.2 million b/d this year and 91.6 million b/d in 2014, according to the latest Short-Term Energy Outlook (STEO) from the US Energy Information Administration.

GAIL (India) Ltd., New Delhi, and EDF Trading, London, have signed a memorandum of understanding covering joint exploration and development in North America and trading and optimization of US natural gas and LNG.