With U.S. natural gas prices still the “great uncertainty,” Los Angeles-based Occidental Petroleum Corp. (Oxy) is undertaking a cost-cutting program designed to increase margin while it continues to emphasize oil production growth over gas in its domestic U.S. plays, CEO Steve Chazen said Thursday.
Articles from Lowering
Economic contributions from unconventional development mostly are driven by the 16 states with oil and natural gas production, but a “significant portion” comes from states with no production, according to a state-by-state analysis by IHS Inc.
A U.S. unit of Royal Dutch Shell plc last week moved another step closer to lowering a drillbit into the frigid waters offshore Alaska this summer after the Department of Interior approved a stringent oil spill response plan.
A U.S. unit of Royal Dutch Shell plc on Wednesday moved another step closer to finally lowering a drillbit into the frigid waters offshore Alaska this summer after the Department of Interior approved a stringent oil spill response plan.
Xcel Energy’s Colorado utility is lowering its gas and electricity retail rates in the first quarter, continuing the downward movement of energy utility bills since the 2010-2011 heating season a year ago. Xcel has asked the Colorado Public Utilities Commission (PUC) to approve a 2-4% reduction in its gas commodity adjustment and a 6.5-7% drop in its residential and small business electric commodity adjustment. Monthly residential and small business gas bills would drop from first quarter 2011 averages of $85 and $347, respectively, to corresponding averages in the 2012 first quarter of $81 and $341. Similarly, electric monthly residential and small business service would go from $67 and $110, respectively, a year ago to $63 and $102 in the first quarter. If the PUC approves the changes, the lower charges would be effective Jan. 1.
As the natural gas industry pushes for a standardized drilling ordinance in Pennsylvania, it doesn’t expect the regulations to be easy, just predictable, a pair of executives told an audience in Pittsburgh.
The Line 523F-100 line-lowering project is being extended by one week through March 18 due to severe weather resulting in delays, Tennessee said. The work, previously projected for completion by Friday (March 11), is causing suspension of physical flow at the Thomas Cenac 1 (CI) and Lapeyrouse Plant Dehydration meters.
For the second consecutive year, the Oregon Public Utility Commission (PUC) announced Wednesday it is lowering retail natural gas charges for the state’s three major private-sector gas distribution utilities, effective Monday (Nov. 1).
The California Energy Commission (CEC) last Thursday unanimously approved its 2009 Integrated Energy Policy Report (IEPR), recommending a fresh mix of strategies for lowering the state’s greenhouse gas (GHG) emissions along with maintaining reliable, efficient and affordable energy supplies. The focus continued to be on reliability and renewable resources in this latest annual update of the report that goes to the governor and legislature.
Despite little appreciable increase in significant weather-based load, a 3-cent drop by June futures a day earlier and the weekend impact on lowering industrial demand, cash prices were able to realize modest gains at most points Friday.