Challenge

Growing natural gas liquids (NGL) production from the Marcellus Shale could support one new pipeline project in the near term and possibly a second in about five years, according to Wells Fargo Securities senior analyst Michael Blum.

ExxonMobil Corp. Chairman Rex Tillerson told shareholders last week that the energy industry will have a big challenge in front of it that’s not related to finding new natural gas and oil resources. The industry, he said, will be challenged in regaining the public’s trust in light of the environmental disaster in the Gulf of Mexico (GOM).

A federal appeals court Thursday removed a legal challenge standing in the way of Shell Oil Co.’s plans to drill three exploratory wells off Alaska’s coast this summer.

A federal appeals court Thursday removed a legal challenge standing in the way of Shell Oil Co.’s plans to drill three exploratory wells off Alaska’s coast this summer.

BP plc’s 3Q2009 profits were down by more than a third from a year ago, but cost-cutting measures implemented two years ago by the oil major are paying dividends. Costs are projected to fall by $4 billion this year from 2008, which is $1 billion more than the producer forecast in June.

The Supreme Court on Monday handed Anadarko Petroleum Corp. a major victory when justices refused to consider a government challenge to lower court decisions that have blocked the Department of Interior (DOI) from collecting billions in deepwater Gulf of Mexico (GOM) natural gas and oil royalties.

Long-term growth in energy demand cannot be reversed, but volatility in oil and gas prices could dampen future supplies and presents one of the “main challenges” facing the energy industry, BP plc CEO Tony Hayward told a California audience on Wednesday.

A federal appeals court in Washington, DC, Friday rejected the state of Delaware’s challenge to a FERC order approving BP Crown Landing LLC’s liquefied natural gas (LNG) terminal proposed for New Jersey, saying the state “lacks standing because it has not suffered an injury-in-fact.”

A federal appeals court in Washington, DC, Friday rejected the state of Delaware’s challenge to a FERC order approving BP Crown Landing LLC’s liquefied natural gas (LNG) terminal proposed for New Jersey, saying the state “lacks standing because it has not suffered an injury-in-fact.”