Excludes

Offshore oil and natural gas producers scored a break in the stopgap funding measure signed by President Obama late Tuesday — it excludes a provision that would have extended the federal review period of new offshore drilling plans to 90 days from 30 days.

The House Budget Committee late Wednesday adopted a $2.8 trillion budget resolution for fiscal 2007 that excludes language to open the Arctic National Wildlife Refuge (ANWR) to oil and natural gas drilling.

With the exception of three energy-related tax provisions, House Ways and Means Committee Chairman Bill Thomas (R-CA) has decided to largely forego piggybacking a package of energy tax breaks and incentives to the House version of the corporate tax cut bill (HR 4520).

With the exception of three energy-related tax provisions, House Ways and Means Committee Chairman Bill Thomas (R-CA) has decided to largely forego piggybacking a package of energy tax breaks and incentives to the House version of the corporate tax cut bill (HR 4520).

Senate Majority Leader Tom Daschle (D-SD) said last week that while he would like to take up energy legislation as quickly as the “schedule allows,” it takes a backseat to the other more pressing issues that are facing the Senate.

Senate Majority Leader Tom Daschle (D-SD) said Tuesday that while he would like to take up energy legislation as quickly as the “schedule allows,” its takes a backseat to the other more pressing issues that are facing the Senate.

With the news that its second-quarter net income doubled from the same period last year, Calgary-based PanCanadian Petroleum Ltd. said Tuesday it would boost its capital budget almost 51% through the rest of the year, with 26% targeted toward high impact exploration. The increase, said the company, would allow it to take advantage of “new opportunities and pursue an aggressive plan of delivering further growth.”