As booming shale pushes U.S. oil production to near 9 million barrels per day, some say U.S. strategic interests are being realigned.» Read More
Tom Corbett's administration said Monday it has enhanced the state health department's handling of complaints involving natural-gas drilling, prompting environmentalists to renew their demand for more aggressive action. It is "important that Pennsylvania try to get ahead of this from a public health standpoint," Norbeck said.
As the U.S. muscles its way back into the very top echelon of global oil and gas production, Alaska is being left in the dust.
Royal Dutch Shell has agreed to sell drilling rights in shale formations in Louisiana and Wyoming for $2.1 billion in two transactions. Shell will sell its Pinedale acreage in Wyoming to Ultra Petroleum for $925 million and 155,000 acres in the Utica and Marcellus shale formations in Ohio and Pennsylvania.
The Middle East and other oil-producing countries are hotbeds of instability. So why is oil falling instead of rising?
HONG KONG, Aug 14- Petrovietnam has bid for a stake in Murphy Oil Corp's Malaysian oil and gas assets, challenging other suitors including Mitsubishi Corp and Indian state oil companies, a person with direct knowledge of the plan said. Murphy Oil and other U.S. oil companies are reducing overseas holdings as oil and gas exploration prospects improve at home.
MEXICO CITY, Aug 13- Mexico will assign oil and gas exploration and production contracts to foreign and private companies between next May and September under a major sector overhaul, prioritizing areas that boost output quickly and leaving trickier deep water for later, the country's energy regulator said on Wednesday.
*Russia and China balk at deepwater oil exploration. HAVANA, Aug 11- Cuba has shifted its focus away from offshore oil, concentrating on renewable energy and improving output from onshore wells due to a lack of interest by foreign companies for further deepwater exploration, sources close to the industry say.
LONDON, Aug 11- U.S. oil producer Hess Corp has suspended oil-drilling operations in Iraqi Kurdistan and started to evacuate non-essential staff amid spreading violence in the region, its minority partner Petroceltic said.
Exxon Mobil began drilling for oil in the Arctic on Saturday in a project with Rosneft, despite sanctions imposed on the Russian company.
A major benefit of the U.S. shale boom is how deeply it has cut into the vast the trade imbalance, bolstering the dollar.
SOCHI, Russia, Aug 9- U.S. oil giant Exxon Mobil began drilling for oil in Russia's Arctic on Saturday, which President Vladimir Putin praised as an example of cooperation, despite sanctions imposed on the Russian company by Washington over the crisis in Ukraine.
SOCHI, Russia, Aug 9- U.S. oil giant Exxon Mobil began drilling for oil in Russia's Arctic on Saturday, its partner Rosneft said, despite sanctions imposed on the Russian company by Washington over the crisis in Ukraine.
CALGARY, Alberta, Aug 8- Oryx Petroleum Corporation Ltd suspended drilling operations and evacuated staff from oilfields in Iraq's Kurdish region on Friday, as the United States launched air strikes against Islamic State militants attacking the region.
Russia and Iran have yet to agree on details of an oil-for-food deal, highlighting global pressures on both countries.
Russia's Energy Ministry said it was withdrawing Minister Alexander Novak's statement on cooperation with Iran on crude oil shipments.
*Market sells off in afternoon after Ukraine- related headlines. NEW YORK, Aug 5- U.S. stocks fell on Tuesday in broad selling led by energy shares as crude prices fell and as traders cited concern about possible escalation of military action in eastern Ukraine.
DENVER, Aug 4- Colorado Governor John Hickenlooper said on Monday he has brokered a deal between environmentalists and the energy industry that could avoid two ballot initiatives that would have curtailed oil and gas drilling.
Chevron reported second-quarter earnings on Thursday that beat Wall Street's expectations.
ExxonMobil reported a stronger-than-expected profit on Thursday as higher prices for its crude and natural gas offset a 6 percent drop in production.
LONDON, July 30- U.S. and European companies dominate the global market in oil exploration and production, especially projects requiring complex engineering and reservoir management, but they will face increasing competition from China over the next decade.