2014

Chesapeake Energy Corp. expects to reach a 2014 goal to convert its entire corporate fleet of 4,200 vehicles to compressed natural gas (CNG), officials said Tuesday.

The Maryland House of Delegates could vote as early as Tuesday on a bill that would freeze the permitting of Marcellus Shale drilling — at least temporarily — while state agencies review the results of various studies into Marcellus development and hydraulic fracturing (hydrofracking), including a major study being performed by the U.S. Environmental Protection Agency (EPA) (see Shale Daily, Feb. 24).

The Environmental Protection Agency (EPA) Tuesday submitted a 140-page draft plan to the agency’s Science Advisory Board (SAB) to study potential drinking water contamination associated with chemicals and fluids used in hydraulic fracturing (hydrofracking).

Occidental Petroleum Corp. CEO Ray Irani, 75, plans to step down at the 2011 annual meeting and become executive chairman before retiring in 2014. COO Stephen Chazen, who also is president of the Los Angeles-based producer, was tapped to assume the role of CEO. Occidental’s board also said it would “substantially reduce” overall compensation levels to be “more in line with its peers.” Irani made $97 million in total compensation in 2009. By comparison, ExxonMobil Corp. CEO Rex Tillerson earned $27.2 million in total compensation last year.

Global gas prices could get a lift around 2014 when demand recovers and the delay of liquefied natural gas (LNG) liquefaction projects limits the amount of LNG available, according to Ziff Energy Group.

Natural gas is going to eclipse coal to become the second biggest fuel source after oil, and even though prices aren’t cooperating, ExxonMobil Corp. has no plans to slow its North American gas projects, an executive said last week.

FERC on Monday granted a request of Port Arthur LNG LP and Port Arthur Pipeline LP to extend the in-service date of the related projects near Port Arthur, TX, until 2014.

With a push from venture capitalists and expanding markets overseas, the broad renewable energy market should go from the current $12.9 billion to $92 billion in the next 10 years, according to an annual trends report released Tuesday by a San Francisco-based research and consulting firm that specializes in the so-called “clean energy” technology field.

With a push from venture capitalists and expanding markets overseas, the broad renewable energy market should go from the current $12.9 billion to $92 billion in the next 10 years, according to an annual trends report released Tuesday by a San Francisco-based research and consulting firm that specializes in the so-called “clean energy” technology field.