Chevron, ConocoPhillips Warn of Lower 4Q Output

Chevron Corp.'s fourth quarter production and profits are unlikely to hit forecasts because of declining global output and maintenance issues, the oil major said Thursday. ConocoPhillips said bad weather in the Lower 48 states impacted its quarterly output. Read More

Senate Passes Budget Deal that Includes U.S.-Mexico Treaty

Over the objections of Republican leaders, the Senate Wednesday overwhelmingly passed a two-year bipartisan budget deal that includes a treaty that would remove the ban on oil and natural gas development along the U.S.-Mexico boundary in the Gulf of Mexico. Read More

GAO Report Raises Concerns About Interior Revenue Collection System

The Interior Department over the past couple of years has taken action, particularly in the offshore, to ensure that taxpayers receive a fair return on oil and natural gas produced on federal lands, but it has not taken similar steps onshore, according to a new report released by the Government Accountability Office (GAO). Read More