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The forecast was lowered to 2.41 million barrels of oil a day from a prior projection of 2.5 million, said Gustavo Hernandez, Pemex’s head of exploration and production.
The federal government’s top energy analysts have kicked off their examination of issues surrounding the nation’s crude export ban, releasing a paper that examines the limited opportunities for offloading the light, sweet oil increasingly flowing out of U.S. wells.
The Obama administration’s looming new plan to cut carbon dioxide emissions from power plants could help boost electric utility’s demand for natural gas by as much as 45 percent, according to rough calculations from a leading industry trade group.
Alaska’s Revenue Department is forecasting higher oil production than previously expected, though the overall, long-term trend is still one of decline.
New projects have been the focus of major energy companies during the shale boom, with producers buying up large swaths of acreage, but upstream companies won’t be looking to continue that spending spree in 2014, according to an analysis from Deloitte.
The rise of solar power and environmental regulations could pose a threat to the utility industry in 2014 and beyond, according to a new forecast from the credit rating firm.
Clean energy enthusiasts on Monday said the government is lowballing the industry’s potential.
U.S. oil production is on track to reach a near historic high by 2016, before leveling off and eventually beginning to taper in 2020, according to a new federal forecast.
Oil and gas will provide the bulk of the energy needed to fuel the world by 2040, with most of it coming from North America, Russia and the Middle East, Exxon Mobil predicted Thursday.
Oil and gas companies will spend more money in 2014 than they ever have to explore for and produce oil and gas, with $723 billion expected to fund the global effort, according to projections from Barclays.