International news for oil and gas professionals
The reversal the last few years of declines in US oil and gas reserves is happening because of economic factors, determined individual entrepreneurs, and technological innovation.
In a rapidly developing conflict between public welfare and environmental obstinacy in the UK, obstinacy has won a round.
The rapid growth of unconventional natural gas development and production is forcing governments worldwide to examine not just how to regulate the business, but also to consider which levels of government can do the best job in specific instances, participants at an Aug. 15-16 conference hosted by the National Research Council agreed.
The US Department of Energy conditionally approved Lake Charles LLC's application to export LNG to countries that do not have a free trade agreement with the US.
The US may squander an important energy and economic opportunity if it takes too long to begin exporting LNG, US Sen. Lisa Murkowski (R-Alas.) warned on Aug. 6 as she released a white paper on the subject.
The American Petroleum Institute and the American Petrochemical & Fuel Manufacturers jointly asked the US Environmental Protection Agency to partially waive 2014 ethanol volume requirements under the federal Renewable Fuels Standard.
US refiners who already have to deal with fluctuating crude oil prices and falling gasoline demand face additional regulatory uncertainty because of an Aug. 2 federal court settlement the US Environmental Protection Agency reached with some environmental groups.
Chevron USA Inc. agreed to pay $2 million in fines on Aug. 5 as it pleaded no contest to six charges stemming from a fire at its Richmond, Calif., refinery nearly a year earlier.
The Aug. 12 energy-reform proposal by Mexican President Enrique Pena Nieto leaves many questions dependent on subsequent legislation, according to a review by the law firm Mayer Brown.
OMV AG has agreed to acquire $2.65 billion in North Sea and Atlantic margin assets from Statoil ASA and has taken options on 11 exploration licenses.
Oryx Petroleum Corp., Calgary, has laid out its plans to explore and develop the Demir Dagh license in the Kurdistan Region of Iraq, where it targets 7,000-9,000 b/d of oil production to start in the second quarter of 2014.
Denbury Resources Inc., Plano, Tex., reported record oil production in the quarter ended June 30 and said it foresees lower output in the third quarter before total and tertiary production resume their sequential growth in the fourth quarter.
Obstructionism accommodates itself more readily to politics than to argument.