Top state Republican lawmakers have reached an agreement on a package of tax breaks that Gov. Tom Corbett has sought in hopes of encouraging the construction of a multibillion-dollar petrochemical refinery and an associated chemical manufacturing industry in Pennsylvania, lawmakers and legislative aides said. More »
The Obama administration on Thursday finalized a five-year plan for offshore drilling that focuses on allowing development in already-
explored areas of the Gulf of Mexico and the Arctic to the chagrin of oil and gas companies who were hoping for more territory. Federal officials also said there was “significant” industry interest in drilling in the Cook Inlet near Anchorage. More »
Cash-strapped Chesapeake Energy Corp appears likely to wind up with a $2 billion cash surplus by the end of 2012, turning around a projected shortfall of $12 billion by selling assets, according to an analysis from Alembic Global Advisors. More »
Malaysia’s national oil and gas company Petronas has agreed to buy Canadian natural gas producer Progress Energy Resources Corp. for about 5.5. billion Canadian dollars ($5.35 billion) to boost its gas resources abroad. More »
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