Industry News

Exclusive interview: Obama says cheap gas won’t last

David Shepardson, The Detroit News Washington – — President Barack Obama is warning Americans that cheap gas prices won’t last indefinitely, and he’s standing by his support of small, fuel-efficient vehicles. “I would strongly advise American consumers to continue to think about how you save […]

Two utilities opt out of Cape Wind

Future of Nantucket Sound turbine project in doubt as purchase contracts are terminated By Jim O’Sullivan GLOBE STAFF JANUARY 07, 2015 The Cape Wind plan was dealt a major setback Tuesday when two power companies that had agreed to buy energy from the Nantucket Sound […]

API chief optimistic about industry’s future amid price decline

Posted on January 6, 2015 at 4:33 pm by Jennifer A. Dlouhy WASHINGTON — Low oil prices aren’t quenching the industry’s thirst for action in the nation’s capital, where the American Petroleum Association is pressing for crude exports, lighter regulation and revamped U.S. biofuel mandates. […]

US Offshore Holds ‘Huge Potential’

Photo: Chevron/Statoil Two new studies by Quest Offshore Inc. for the National Ocean Industries Association (NOIA) and the American Petroleum Institute (API) show vast potential energy and economic benefits to the U.S. if the Eastern Gulf of Mexico and the Pacific outer continental shelf (OCS) […]

Chevron Announces Oil Discovery in Deepwater U.S. Gulf of Mexico

SAN RAMON, Calif.--(BUSINESS WIRE)--Jan. 6, 2015-- Chevron Corporation (NYSE:CVX) today announced a significant oil discovery at the Anchor prospect in the deepwater U.S. Gulf of Mexico. Anchor is Chevron’s second discovery in the deepwater Gulf in less than a year. The Anchor well was drilled by Pacific Drilling's Pacific Santa […]

Chevron Announces Gulf of Mexico Discovery

Posted on January 6, 2015 at 10:28 am by Ryan Holeywell HOUSTON — Chevron Corp. said it’s made a significant discovery in the Gulf Of Mexico about 140 miles off the coast of Louisiana. But the company did not announce the volume of reserves believed […]

Oil price extends drop below $50

By Laura Barron-Lopez - 01/06/15 08:29 AM EST The price of oil extended its decline on Tuesday with both Brent and U.S. crude oil benchmarks trading at their lowest levels since 2009. The continued decline follows a plummet in oil prices on Monday, the Wall […]

Oil companies slow spending at rapid pace

Crude production, though, unlikely to slow and will keep prices low By Chris Tomlinson | January 2, 2015 Oil company executives are finally heeding the advice T. Boone Pickens gave back in October: Stop drilling. The rig count is dropping at a precipitous pace, capital […]

New Senate chairmen aim to undo Obama’s policies

Posted on January 5, 2015 at 7:02 am by Associated Press WASHINGTON — Republican senators poised to lead major committees when the GOP takes charge are intent on pushing back many of President Barack Obama’s policies, setting up potential showdowns over environmental rules, financial regulations […]

GOP prepares Keystone blitz

By Laura Barron-Lopez Republicans are putting the Keystone XL pipeline at the top of the agenda as they seek to move a stack of legislation to President Obama’s desk in 2015. Incoming Senate Majority Leader Mitch McConnell (R-Ky.) has promised that a vote on approving […]
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