Shell Oil Co. today announced a pair of deals Thursday morning in which it will give up onshore gas operations in Wyoming’s Pinedale and Louisiana’s Haynesville fields in exchange for $2.1 billion and additional acreage in Pennsylvania.
Natural gas is poised to be one of the biggest winners of the Obama administration’s new plan to slash carbon dioxide emissions, accelerating the electric sector’s move away from coal toward the cleaner-burning power source. But natural gas industry executives weren’t eager to crow about their victory Monday.
A Dutch-Flemish business delegation of more than 100 made a three-day trade visit to Houston this week, hoping to forge stronger business ties and to extend the North American energy revolution to a sometimes-skeptical Europe.
As it looks to boost demand for bountiful natural gas, Royal Dutch Shell figures a good way to start is by using the fuel to power its own drilling rigs, ships and heavy trucks – with hopes of spurring others to make the same transition.
The drillship used to bore part of an Arctic oil well for Shell last summer lacked sufficient propulsion power, had engine problems and posed fire hazards, according to a Coast Guard inspection of the vessel last November and released on Friday.
Shell and El Paso Pipeline Partners plan to build a plant for exporting natural gas at the existing Elba Island LNG import terminal near Savannah, Ga. It’s the latest venture aimed at taking advantage of high Asian and European prices for the fossil fuel.
A top Democratic lawmaker is questioning whether financial concerns drove Shell to send the Kulluk drilling rig on its ill-fated two-week trek across the predictably stormy Gulf of Alaska in late December.
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