User: irge304 Topic: Energy Extraction
Category: Oil Exploration
Last updated: Feb 08 2016 18:32 IST RSS 2.0
 
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More big oil companies take hits in 4th-quarter results 3.2.2016 SFGate: Business & Technology
The newest measure of the oil industry’s falling fortunes came Tuesday in the form of a $3.3 billion fourth-quarter loss reported by BP. Low oil and natural gas prices are saving families hundreds of dollars a year, but there are few cheers among energy executives. Longer term, there are questions about the value of oil still under the ground and the sea floor, as climate concerns prompt energy users of all sizes to seek alternatives to fossil fuels. BP and Exxon Mobil continue to pledge their commitment to their dividends, helped by the strong returns that refineries tend to show when oil and gas, vital raw inputs, are low. Senior oil executives noted that unseasonably warm weather had lowered demand for natural gas and that refining and chemical profit margins were weakening in some areas of the world. [...] despite the challenges, oil executives expressed confidence Tuesday that their businesses would survive and prosper in the future, and that oil and gas prices would eventually rebound to lofty ...
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Syrian crop dusters get an airstrip fit for C-130s 3.2.2016 CNN: Top Stories
Exclusive: CNN sees the secret airstrip the U.S. is using in its fight against ISIS and meets the young soldiers who call in the airstrikes.
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Oil Slump Pressures Exxon, BP Results 3.2.2016 Wall St. Journal: US Business
Exxon posted its weakest annual results in more than a decade and BP suffered a loss as big as that booked in the aftermath of the worst offshore oil spill in its history, showing the extent of the damage that the crude-price slump can inflict on even the biggest oil companies.
Cheap oil buoys consumers, shakes up global governments 2.2.2016 AP Business
Cheap oil will be sticking around for a while....
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Cheap oil buoys consumers, shakes up global governments 2.2.2016 Seattle Times: Business & Technology

Cheap oil will be sticking around for a while. That reality is wreaking havoc and causing uncertainty for some governments and businesses, while creating financial windfalls for others. Less expensive crude is delighting consumers in some regions, while leading to widespread job losses elsewhere. Oil has fallen from $107 to around $30 in the past […]
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Wall Street loses nearly 1.5% as US crude slips below $30 - business live 2.2.2016 The Guardian -- Front Page
BP shares slump after big loss 4.16pm GMT As European markets head towards the close nursing heavy losses again Chris Beauchamp, senior market analyst at IG, said: The end of January, when markets raced higher, seems such a long time ago. Major indices are rapidly shedding the gains they made in the second half of January, as a cocktail of worries returns. The first of these is the oil price, which has rediscovered its old habit of diving like a stone, helped in no small part by the absence of any rumours about another OPEC meeting. The session started with oil firms in the red, as BP’s results sent the shares into a tail spin, but the company has been joined at the bottom of the index by miners and insurers. The former are down as economic growth concerns take centre stage, with this concern not helped by warnings from Fed policymakers, while the latter are in retreat thanks to China, which appears to be coming up with new and creative ways to try to stem capital flight. The reaction is probably ...
Ex-Petrobras international head jailed for 12 years 2.2.2016 New Kerala: World News
Brasilia, Feb 2 : Scandal-ridden Brazilian oil giant Petrobras' former international head has been jailed for 12 years for corruption and money laundering, the media reported on Tuesday.
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Brazil Petrobras ex-director jailed 2.2.2016 BBC: Business
A former director of the Brazilian state-owned oil company Petrobras has been sentenced to 12 years in jail as part of a huge corruption probe.
Iranian Political Battles Pose Risk for Oil Contracts 2.2.2016 Wall St. Journal: US Business
Iran is struggling to finalize the terms under which foreign companies can drill for oil, as a political battle rages between the country’s more moderate forces and its conservative hard-liners.
In Utah: A ‘grand bargain’ on public land? 1.2.2016 Durango Herald
For the past three years, conservation groups held out hope that Republican Rep. Rob Bishop would protect some of Utah’s most stunning and vulnerable red rock landscapes in exchange for oil and gas drilling, economic development and motorized use elsewhere. Some were skeptical: Even as Bishop touted a balanced approach for his...
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Vallourec Seeks Capital as Oil Prices Pummel Earnings 1.2.2016 Wall St. Journal: US Business
Vallourec plans to raise about $1.08 billion in fresh capital as the company braces for widening losses in 2015 on falling demand from oil companies for drilling equipment following the oil-price collapse.
Federal coal sales moratorium shakes industry stronghold 1.2.2016 AP Top News
GILLETTE, Wyo. (AP) -- Like a trusty pickup truck, Gillette has bounced through tough times before and pulled through, thanks to coal....
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Federal coal sales moratorium shakes industry stronghold 1.2.2016 Seattle Times: Business & Technology

GILLETTE, Wyo. (AP) — Like a trusty pickup truck, Gillette has bounced through tough times before and pulled through, thanks to coal. Lately the bumps for an industry that’s brought wealth and jobs to this town are getting bigger — bankruptcies of major producers, pollution rules that have made burning coal more expensive and the […]
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Oil and gas price declines lead to job losses in La Plata County 31.1.2016 Durango Herald
Oil and gas prices have collapsed in the past couple of years, leading to fewer jobs in Southwest Colorado and concerns about how fast the industry might rebound.In La Plata County, no more than 20 wells have been drilled each year since 2012, and the number of jobs has fallen from about 690 in 2011 to 580 in the second quarter of 2015,...
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Oil's price swoon is drilling hard into Colorado schools, communities 31.1.2016 Denver Post: Local
Gavin Amen is getting squeezed twice by cratering oil prices.The 17-year-old junior at Platte Valley High School in Kersey is in the family business, Amen Oilfield Service, which has keenly felt the sharp decline in the price of a barrel of ...
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Why cheap oil isn’t bad for the environment 31.1.2016 Seattle Times: Opinion

It stood to reason that collapsing prices for oil would make clean energy relatively more expensive. That would dampen the public’s craving to install solar panels and build wind turbines. Well, let’s try to reason again. A lot of opposing forces are shaking the old assumptions. In the jaws of bargain oil, the U.S. Department […]
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In Canada, Justin Trudeau takes pipelines in a new direction 30.1.2016 L.A. Times - World News

It's getting harder to build an oil pipeline in Canada.

In 2013, when TransCanada Corp. proposed a cross-country pipeline that would be among the longest in the world, the Conservative Party was in power and the project's approval seemed a given.

But the new Liberal government of Prime Minister...

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U.S. agrees to review California offshore oil fracking 30.1.2016 LA Times: Commentary

 The federal government has agreed to stop approving oil fracking off the California coast until it studies whether the practice is safe for the environment, according to legal settlements filed Friday.

Separate deals reached with a pair of environmental organizations require the Department of...

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US agrees to environmental review of offshore oil fracking 30.1.2016 Seattle Times: Business & Technology

LOS ANGELES (AP) — The federal government has agreed to stop approving oil fracking off the California coast until it studies whether the practice is safe for the environment, according to legal settlements filed Friday. Separate deals reached with a pair of environmental organizations require the Department of Interior to review whether well techniques such […]
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There’s Only One Presidential Candidate Who Wants to Ban Fracking 29.1.2016 Mother Jones
This story originally appeared in The New Republic and is reproduced here as part of the Climate Desk collaboration. There isn't much daylight these days between the Democratic candidates on the environment. Bernie Sanders, Hillary Clinton, and Martin O'Malley all agree that humans are responsible for climate change and that it's one of the world's most pressing problems. To that end, they support clean energy tax breaks, reject drilling offshore and in the Arctic, and oppose the (now-rejected) Keystone XL pipeline. But there's one environmental issue where Sanders truly stands apart: He wants to ban hydraulic fracturing outright. Clinton and O'Malley have proposed lesser measures, and show no sign of going further. That's an indication of just how radical Sanders's stance really is, but it also raises an important question: Is a fracking ban remotely plausible? Read More: How Hillary Clinton's State Department Sold Fracking to the World There used to be more daylight between the candidates, especially ...
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