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Maximino field to be largest yet in Mexican Perdido, Pemex says

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By Carlos Manuel Rodriguez and Brendan Case Bloomberg News Petroleos Mexicanos’s Maximino field will probably be the largest oil discovery on the Mexican side of the Perdido basin, the state-owned oil producer said. Final test results on the field are expected within weeks, said Carlos Morales, the exploration and production chief at Pemex, as the […]
(Jerry Lara/San Antonio Express-News)

Reliance to spend $26 billion over 3 years to expand businesses

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Reliance Industries Ltd. (RIL)’s billionaire Chairman Mukesh Ambani plans to spend 1.5 trillion rupees ($26 billion) over the next three years to expand business ranging from gas production to telecommunications.
Royalties from oil production on state lands is pushing Texas' Permanent University Fund toward a record $1 billion in annual revenue. (AP Photo/Hasan Jamali)

Schools addressing students’ fossil fears without divesting

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Divesting university endowment holdings from fossil fuel companies may be technically and financially difficult, and schools considering doing so in response to student campaigns may want to consider alternatives, investment professionals say.
Categories: Crude oil, Natural gas
Workers adjust piping during a natural gas hydraulic fracturing  operation at an Encana Oil & Gas Inc. drilling site in western Colorado. (Brennan Linsley/AP)

French fracking ban should be eased to assess shale reserves

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France’s ban on hydraulic fracturing should be eased to estimate the size of its shale oil and gas reserves, according to a parliamentary report.
Crewmen work a site for TransCanada's Keystone XL project in Wood County, Texas. (Cody Duty / Houston Chronicle)

Canada oil output will double by 2030, if pipelines built

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Canada’s crude output will more than double to 6.7 million barrels a day by 2030, provided new pipelines such as Keystone XL are built to transport growing oil-sands production, an industry group representing the country’s petroleum producers said.
(Image: Fotolia)

U.S. crude output exceeds imports for first time in 16 years

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U.S. domestic crude-oil production exceeded imports last week for the first time in 16 years, a government report showed today.
Lane Energy Poland company does test drilling to assess economic viability of shale gas deposits in Lebien, Poland in 2011. (AP Photo/Andrzej.J. Gojke)

Oil companies’ retreat from Poland shale gas could be mounting

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Poland’s Cabinet Committee will tomorrow discuss a decree to ease rules that slow shale gas exploration as local media reported Chevron Corp. may join Exxon Mobil Corp. and Talisman Energy Inc. in leaving the nation.
(Øyvind Hagen/Statoil ASA)

Statoil delays Castberg oil project amid unexpected tax rise

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Statoil ASA (STL) delayed the investment decision for the Johan Castberg oilfield in the Barents Sea amid uncertainty over costs and resources and after the government unexpectedly raised taxes on oil and gas producers.
Categories: Crude oil, Offshore
A contractor closes a valve on a tanker truck at a Range Resources hydraulic fracturing operation in Pennsylvania. (AP Photo/Keith Srakocic)

French fracking ban endorsed on U.S. environmental repercussions

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France’s ban on hydraulic fracturing should not be eased because the oil and gas drilling technique is causing “considerable” environmental damage in the U.S., according to a government minister.
(AP Photo/Brennan Linsley)

Climate benefits from natural gas seen hinging on plugging leaks

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Leaks in the production and delivery of natural gas threaten to undermine the benefits to the climate from expanded use of the fuel in manufacturing, transportation and appliances such as heaters, according to a report.