GE Oil & Gas and others are working to create blowout preventers that can work at deeper depths and higher pressures.
Mexico’s Lower House early passed the last package of bills to regulate an end to Petroleos Mexicanos’s state-oil monopoly, sending the legislation to the Senate for final approval after making minor changes on pension and retirement issues. More »
Chemical giant LyondellBasell acknowledged past purchases of modest amounts of what it called “Iraqi crudes” to process at its Houston refinery but said future buys have been canceled until the ownership dispute is settled. More »
A cargo of minimally processed condensate is now sailing away from the port of Galveston, becoming the first known export of that ultra-light oil to a country other than Canada. But Eagle Ford oil producers are hoping it isn’t the last. More »
Kinder Morgan Energy Partners’ affiliate El Paso Natural Gas Co. has begun a half-billion-dollar pipeline system upgrade so it can fulfill a deal to send to natural gas to Mexico. More »
Hydroelectric power will fall below other forms of renewable generation in the United States electricity mix for the first time in 2014, according to a government projection. More »
The Interior Department is developing an updated plan for its Outer Shelf Oil and Gas Leasing Program, and the governors formally stated their opposition to the inclusion of any oil or gas lease sales off the coast as part of any new plan. More »
The federal government gave an Oregon project a coveted permit to broadly export liquefied natural gas on Thursday, even as the Obama administration faces criticism for moving too slowly on the proposals. More »
Occidental Petroleum Corp., the global oil producer that is pursuing a breakup to boost returns, said second-quarter profit rose as it continues to try to reduce costs. More »
The protest, attended by hundreds of supporters, was the culmination of a month-long “rolling rally” that marched through towns likely impacted by Kinder Morgan’s proposed 250-mile long pipeline expansion in Berkshire, Worcester and Franklin counties. More »
As oil prices and cash flows remain flat, energy companies are turning to lines of credit and selling off assets to keep up the pace of investment, according to a report from the U.S. Energy Information Administration. More »
A subsidiary of Petroleos Mexicanos will form a joint venture with Geneva-based Mercuria Energy Group Ltd. to handle the gas and will aim to be one of the five largest participants in the North American natural gas market. More »
Exxon Mobil has restarted a section of its Pegasus pipeline in Texas more than a year after a crude oil spill in central Arkansas forced the company to shut down the entire line, a spokesman said. More »
ConocoPhillips has completed the $1.5 billion sale of its Nigerian upstream business to Lagos, Nigeria-based Oando Energy Resources, the company said Wednesday.
Total is counting on new projects to increase its oil production to 2.6 million barrels a day in 2015 and to about 3 million barrels two years later.