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U.S. crude’s recent fall to $51 a barrel is making a widely anticipated recovery in domestic drilling much more tenuous, bringing lower profits and probably even more job cuts to oil field service companies, analysts say.
The deal will send 1,100 miles of crude oil pipeline, 1,200 miles of natural gas pipeline and interest in six offshore hub platforms from Houston’s Enterprise to Genesis, which is also based in Houston.
Exxon Mobil Corp., Chevron Corp. and Total SA all passed on the first 14 shallow-water oil blocks auctioned by Mexico today in the country’s first-ever sale of territory in the Gulf of Mexico. Only one of Mexico’s first five oil blocks auctioned received a qualifying bid.
Preserving the 50-year-old Land and Water Conservation Fund that pays for parks and public spaces requires a “bold fight” by the Obama administration, the Center for American Progress argues. The program, which is mostly funded by offshore oil and gas revenue, is set to expire in September.
The Retirement Systems of Alabama, a public pension system that already owned a minority of the company and was a lender, has agreed to buy the company and lend it money while in bankruptcy. Signal says it has agreed to settle the Indian workers’ claims for $20 million as part of the bankruptcy.
There are dramatic generation gaps in opinions on global warming, offshore drilling, nuclear power, childhood vaccines, gene modification to reduce a baby’s disease risk, untested medicine use, lab tests on animals, and evolution, according to the Pew Research Center.
Shell said it authorized the major project after finding 20 percent in cost reductions and determining that it will produce a profit as long as the global benchmark for oil prices stays above $55 a barrel.
The Houston firm sold its East Bay Field, about 89 miles southeast of New Orleans, to an undisclosed private buyer for $21 million, the company announced Wednesday.
Noble Energy may soon be able to re-start work on two major gas fields in Israel after a committee of top ministers on Thursday approved a plan promoting the development of the country’s offshore natural gas fields. The Houston-based company halted its investment in Israel after the country’s antitrust regulator refused to finalize a deal […]