A tanker full of Alaskan crude is now heading to South Korea, courtesy of an exception in the 39-year-old law that blocks most U.S oil from being sold overseas. The shipment is the first of its kind in a decade. More »
Oil companies hoping to find crude under Arctic waters north of Alaska are imploring the Obama administration to ensure new rules governing drilling in the region don’t force them to stash emergency equipment nearby nor block them from using chemical dispersants to clean up any spills. More »
Oil companies that had locked up more than 1.3 million acres of the Beaufort Sea for drilling in 2007 have since relinquished nearly half that territory, signaling the industry’s appetite for tapping those Arctic waters may be waning even as the Obama administration makes plans to auction off more of the area. More »
Commentary: As political shenanigans continue to delay approval of the Keystone XL pipeline, Alaskan voters hold the key to avoiding a similar fate for what could be North America’s largest pipeline project. More »
No one in Karnes County, Texas have grasped the implications of Conoco-Phillips’ secretive decision to drill a deep, expensive well into the mysterious formation known as the Eagle Ford Shale. More »
The move comes as ConocoPhillips, like other U.S. energy producers with big natural gas portfolios, struggles to deal with a relatively low price for the hydrocarbon. CEO Jim Mulva told the Detroit Economic Club today that the U.S. should embrace natural gas as a low-cost and environmentally friendly power source. More »
Executives from the five biggest oil companies are set to argue against proposed tax hikes during a Senate Finance Committee hearing today. Exxon Mobil CEO Rex Tillerson will tell the panel that Democrats are unfairly singling out the firms with a plan to eliminate tax credits and deductions used broadly by other industries.