BOEM holds technical workshop with industry to facilitate compliance and efficient plan reviews NEW ORLEANS The Bureau of Ocean Energy Management (BOEM) held a technical workshop on with industry operators Wednesday to discuss BOEM’s heightened standards for offshore oil and

Argentina's YPF shareholders consider post nationalization future BY KEN PARKS, DOW JONES NEWSWIRES BUENOS AIRES Argentina's nationalization of its largest oil and gas producer, YPF SA, has minority shareholders pondering whether it makes sense to stay invested in a company

Canadian energy board Focus shifting from dry gas to NGLs CALGARY The high value of natural gas liquids (NGLs) products that can be recovered while producing natural gas, is encouraging companies to seek out deposits rich in these compounds as

Deloitte Mixed start to 2012 for drilling activity on UK Continental Shelf Offshore drilling activity on the UK Continental Shelf (UKCS) rose marginally during the first quarter of 2012, compared to the same period last year.  However, exploration and appraisal

Chile Endesa plans $11 billion in energy project investments by 2020 BY GRACIELA IBANEZ SANTIAGO Power generator Empresa Nacional de Electricidad SA plans to invest $11 billion to finance 17 energy projects, which would allow the company to double its

Crude oil futures slump on supply jump, talk of reserve release SAN FRANCISCO Crude oil futures slumped after data showed a surge in U.S. oil supplies and as French officials said that some nations are considering the release of strategic

Argentina Aims to regain control of YPF by Winter Report BUENOS AIRES Argentina's government aims to "regain control" of the country's biggest oil and gas company, YPF SA, by winter, the newspaper Pagina 12 reported Sunday. YPF, which is majority

Crude trims losses as US denies oil storage release  By David Bird Of DOW JONES NEWSWIRES NEW YORK (Dow Jones) Crude oil futures trimmed losses near midday after a U.S. official called inaccurate a report that the U.S. would soon

BP announces settlement with Gulf Spill Plaintiffs for $7.8 Billion HOUSTON BP has reached a settlement with the Plaintiffs' Steering Committee (PSC), subject to final written agreement, to resolve the substantial majority of legitimate economic loss and medical claims stemming

Canada and Alberta to implement monitoring system for the oil sands EDMONTON Increased air, water, land and biodiversity monitoring in the oil sands will begin this year as the governments of Canada and Alberta take a major step forward in

Brazil Energy Minister No massive changes in Petrobras shake up BY JEFF FICK RIO DE JANEIRO Brazil's government denied Friday that significant changes were under way at state run energy giant Petroleo Brasileiro, or Petrobras, with the management shake up

Crude falls as US data show stocks rise, low demand By David Bird DOW JONES NEWSWIRES NEW YORK (Dow Jones) The selloff in crude oil futures gained steam at mid morning Wednesday after U.S. weekly oil data showed a sharp

Arbitration panel awards ExxonMobil $908 million over Venezuela nationalization CARACAS An international arbitration panel awarded ExxonMobil about $908 million in a verdict over nationalized oil assets, according to a spokesman for the company. The decision, by an arbitration court at

  Bolivia sees oil, gas investment jumping to $2 billion in 2012 By SHANE ROMIG LA PAZ, Bolivia  Bolivia is expecting $2 billion to be invested to develop its oil and gas sector next year, almost doubling the record investment

Crude surges as U.S. inventories drop 10.6 million bbl By Jerry A. DiColo Of DOW JONES NEWSWIRES NEW YORK (Dow Jones) Crude futures surged Wednesday after a government report showed a giant decline in U.S. oil stockpiles. The U.S. Energy

Deloitte releases report on US LNG exports Deloitte MarketPoint LLC (DMP) has released a report entitled “Made in America The economic impact of LNG exports from the United States,” an independent assessment of the potential economic impacts of LNG exports

Chevron announces $32.7 billion capital and exploratory budget for 2012 SAN RAMON, Calif. Chevron Corporation announced a $32.7 billion capital and exploratory spending program for 2012. Included in the 2012 program are $3 billion of planned expenditures by affiliates, which

Andrew Gould to succeed Sir Robert Wilson as Chairman of BG Group Reading, UK Sir Robert Wilson announced his intention to stand down as Chairman of BG Group in May 2012. He will be succeeded by Andrew Gould, currently Chairman

BSEE and BOEM officially replace BOEMRE On Oct. 1, 2011, the Department of the Interior (DOI) formally established two new, independent bureaus— the Bureau of Safety and Environmental Enforcement (BSEE) and the Bureau of Ocean Energy Management (BOEM)— to carry

 Additional storage contracts awarded for Northeast Home Heating Oil Reserve The U.S. Department of Energy (DOE) has completed the acquisition of commercial storage services for the 1 million bbl Northeast Home Heating Oil Reserve (NEHHOR). Two awards totaling 350,000 bbl

Chesapeake Energy dedicates $2 million to build natural gas industry training center Oklahoma State University Institute of Technology (OSUIT) announced the largest donation in its history – a $2 million commitment from Oklahoma City based Chesapeake Energy Corporation. OSUIT will

BOEMRE reorganization nears fruition, workshop planned The Bureau of Ocean Energy, Management, Regulation and Enforcement will cease to exist as single body on October 1. In its place will be two separate government entities, the Bureau of Ocean Energy Management

BP completes sale of five southern African businesses BP has completed the sale to Puma Energy of its fuels marketing businesses in Namibia, Botswana, Zambia, Malawi and Tanzania. The sale of the final business in Tanzania completed on September 1.

 Cameron to acquire LeTourneau Technologies Drilling Systems and Offshore Products Cameron has agreed to acquire LeTourneau Technologies Drillings Systems and Offshore Products divisions from Joy Global Inc. for about $375 million in cash. The boards of Cameron and Joy Global

 BP officials denounce raid by Russian officers Russian law enforcement officers armed with assault rifles raided BP’s Russian offices, company spokesmen reported in a statement, adding that there were "no legitimate grounds” for the action, and that the Siberian court

Bacteria engineered to produce biofuels rapidly Rice University engineering researchers have unveiled a new method for rapidly converting glucose into biofuels and petrochemical substitutes. In a paper published online in Nature, the Rice team described how it reversed one of

Demand high for SPR oilFollowing the International Energy Agency (IEA) announcement that its 28 member countries had agreed to release 60 million bbl of crude oil and refined products into the global market, President Obama directed the Department of Energy

China overtakes USA as top energy consumer says BP Global Energy Review China became the world’s largest energy consumer in 2010 overtaking the USA during a year which saw the rebound in the global economy drive consumption higher and at

ANGA responds to Texas Public Policy Foundation report on natural gas economy America’s Natural Gas Alliance (ANGA) Vice President of Strategic Communications Daniel Whitten issued the following statement in response to a report released today by the Texas Public Policy

Alaska to sue federal government over polar bear habitatThe state of Alaska filed notice at the end of December 2010 stating their intention to sue the U.S. Fish and Wildlife Service over protections recently put in place to protect polar