New Mexico considers oil drilling restrictions which would reduce output and revenue
New Mexico is the second largest oil producer in the U.S. A leading economist released this week a study about potential drilling restrictions. The study showed that they could affect up to 5,4% of the future crude production and cost billions in revenue.
New Mexico considers oil drilling restrictions which would reduce output and revenue
New Mexico's chief economic officer said in a recent report that the state is currently studying new drilling restrictions. These could affect up to 5.4% its future crude production and cost the state billions in revenue. The study looked at proposed setbacks…
Japan Marks 50 years of LNG Imports
Japanese gas buyers on Wednesday marked the 50th anniversary since the first cargo of liquefied natural gas (LNG) arrived in Japan, now the world's biggest importer of the fuel.The arrival of the cargo on Nov. 4, 1969 helped transform Japan's energy system…
Drilling Ban Proposals Divide Democrats
In the southeast corner of New Mexico, new houses, hotels and jobs are sprouting like flowers in the desert. Trucks hauling equipment and laborers jam once-barren highways on the way to thousands of oil rigs.The Democrats who control the…
Norway Oil Investment to Rise in 2019
Oil and gas investment in Norway is expected to grow for a second year in a row in 2019 but will fall back between 2020 and 2023, an industry lobby group said on Monday.Western Europe's largest oil producer has seen a recovery in oil industry activity thanks to higher crude prices…
dena Launches Global Alliance Power Fuels
The Deutsche Energie-Agentur (dena) – the German Energy Agency – and partners from industry have launched the Global Alliance Power Fuels. The aim of this international alliance is to open up global markets for synthetic fuels based on renewable energy sources.
Planning a Wind Farm in Norway? Connecting to Grid from 2019 May Cost You
Grid investments of $17 billion are planned by 2025; big power consumers and producers may need to contribute. A Norwegian plan to force big power consumers and producers to pay for grid upgrades and extensions could disrupt new projects…
Trump's Steel Import Tariffs May Hurt US LNG Exports
U.S. natural gas trade groups said on Thursday they are concerned that new U.S. steel import tariffs could delay or reduce new pipeline projects as well as dent exports of liquefied natural gas. U.S. President Donald Trump said on Thursday…
Greenpeace Appeals after Losing Norwegian Arctic Lawsuit
Environmental groups launched an appeal on Monday after an Oslo court rejected their arguments that Norway's oil and gas exploration in the Arctic violates citizens' right to a clean environment. Greenpeace and Nature and Youth disputed the Oslo District Court's verdict last month…
Alaskan Lease Sale Draws Tepid Response
An oil-and-gas lease sale that raised concerns with environmentalists due to the vast amount of acres offered in Arctic Alaska drew few bids on Wednesday, government officials said. Seven bids were received, covering about 80,000 acres…
US Senate Pushes Alaska Wildlife Refuge, But Drillers Look Elsewhere
Even as the U.S. Senate moves to allow oil drilling in Alaska's Arctic National Wildlife Refuge (ANWR), the real action is 150 miles (241 km) west, where industry proponents hope a coming sale of 10 million acres of land will revitalize the state's sagging crude production.
Alaska Eyes Foreign Capital to Jump-start Energy Projects
Alaska is pursuing foreign investors for its oil and gas industry, hoping to advance recent discoveries while struggling to compete with lower-cost shale projects and reverse a decades-long output decline. Sovereign wealth funds, banks and…
Perry's Proposed Grid Rule Scrambles Energy Alliances
U.S. Energy Secretary Rick Perry's attempt to save the coal and nuclear industries by proposing a new grid resiliency rule is making for some odd bedfellows across the energy sector. The proposed grid resiliency rule threatens to turn two…
Statoil Achieves Climate Target Two Years Ahead of Schedule
Statoil has already achieved its 2015 target of reducing the CO2 emissions from the Norwegian continental shelf by 1.2 million tonnes annually from 2008 to 2020. The reduction equals the emissions from some 600 000 private cars annually, or almost every fourth car on Norwegian roads.
Trump's EPA to Reconsider O&G Emissions Rule
The U.S. Environmental Protection Agency said on Wednesday it would reconsider a rule on emissions from oil and gas operations and delay its implementation, marking the Trump administration's latest effort to dismantle Obama-era environmental regulations.
Conservationists Sue to Halt Fracking in Ohio National Forest
Four conservation groups on Tuesday sued the U.S. Forest Service and Bureau of Land Management in an attempt to halt fracking plans in a portion of Ohio's only national forest. The suit, filed in U.S. District Court in Columbus, argues that…
Norway Oil & Gas Output at Risk if Labor Walks
Five Norwegian oil and gas fields will shut down production unless a wage deal is agreed with the Lederne trade union, an industry lobby group said on Friday. The shutdown would affect fields operated by Statoil , Shell and Eni and would cut output by 443…
Pennsylvania Adopts New Fracking Regulations
New regulations governing the extraction of natural gas through fracking will go into effect on Saturday in Pennsylvania, the first overhaul since the industry took off in the state more than 10 years ago. The new rules allow the state's…
Oil Industry Workers Split Between Trump and Clinton
U.S. oil and gas industry workers have contributed only slightly more money to the campaign of Democrat Hillary Clinton than to Republican Donald Trump since the two clinched their parties' nominations for the White House, according to Reuters' review of federal disclosures.
Trade Groups Seek Information on New US Decommissioning Rules
Seeking information related to the recent changes to the financial assurances and bonding required of offshore oil and gas producers, four oil and gas industry trade groups today submitted Freedom of Information Act (FOIA) requests to both…
