Despite a well-supplied market, Henry Hub has experienced a rare excitement spiking to a 10-month high partly on the prospect of increasing LNG trade and export after the U.S. Energy Department authorized Cheniere Energy (Amex: LNG) to export LNG from its Sabine Pass terminal. However, not everyone, including ConocoPhillips, is sold on LNG exports yet.  More »

Scientists recorded a 1.5 magnitude quake Friday in northwest England, within 1.2 miles of a Cuadrilla Resources gas exploration site. A 2.3 magnitude quake was recorded last month. The company has halted hydraulic fracturing at the site to study data from the quakes.  More »

It’s not often that you meet a life-size polar bear on your way to work, but that’s what greeted staff at Cairn Energy in Edinburgh Thursday morning. Greenpeace has targeted the Scottish oil company in a campaign to stop it from exploring Arctic waters off Greenland. (Via FT.com)  More »

In announcing its $422 million acquisition of Nuon Exploration and Production, London-based Tullow said it’s focusing on projects in the “stable and attractive tax regime” in the Dutch sector of the North Sea after a tax increase in the U.K.  More »

A safety agency reprimanded the oil giant over issues at Shell’s Draugen facility, located in shallow water off Norway’s west coast, following a 2010 incident the agency said had “major accident potential.”  More »

The approval makes it likely that Britain will follow in the footsteps of Poland, which last week announced plans for major investment in shale gas to break free of dependence on Russian imports and boost its economy.  More »

The Scandinavian nation wants to claim the continental shelf in five areas around the Faeroe Islands and Greenland, including the North Pole. At least four of those areas are believed to hold oil or gas and melting ice is making it easier to explore.  More »

The conservative-controlled National Assembly voted 287-186 to forbid hydraulic fracturing, but left-leaning opponents said the bill doesn’t go far enough because it would not revoke research licenses that the French government has already granted.  More »

By EconMatters WTI (West Texas Intermediate) Crude Oil futures traded at its lowest in almost two months in New York on Thursday, May 5 in its biggest selloff in two years, plunging 8.6% on the day to below the $100 mark (Fig. 1).  Brent crude on ICE also dropped as much as $12.17, or 10%, which [...]  More »

GE’s Claudio Santiago says the company is trying to take its engineering know how from the aviation industry and apply it to its expanding oil and gas business. That’s why tougher demands from U.S. energy regulators aren’t much of a worry, he says.  More »

The French oil giant said its net profit grew by half in the first quarter as recovering economies and unrest in the Middle East pushed the price of a barrel of crude to three-year highs.  More »

Marathon will remain the operator while Nexen takes a 40 percent interest in 10 concessions in Poland’s Lower Paleozoic formation. The companies did not disclose financial terms of the deal.  More »