The House has introduced legislation that would open federal waters off the coast of Virginia to oil and natural gas development, and the Senate is expected to offer a companion bill in the coming weeks.
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Crude oil shipments on all U.S. railroads could hit 700,000 b/d by the end of this year, up 40% from current levels, and top 1 million b/d in 18 months, said BNSF Railway Co. CEO Matthew Rose.
In a split decision, the Allegheny County Council voted on Tuesday to accept a deal with Consol Energy Inc. for Marcellus Shale natural gas drilling rights at Pittsburgh International Airport.
A joint committee of the Wyoming legislature on Wednesday heard a variety of proposals that are supposed to offer the state more revenues from its vast coal and natural gas resources while lowering greenhouse gas (GHG) emissions. Ultimately, the schemes could involve integration of the two fossil fuels to nuclear power.
Allegheny County Airport Authority (ACAA) board members Friday unanimously approved a deal with Consol Energy Inc. for Marcellus Shale natural gas drilling rights at Pittsburgh International Airport. The arrangement could be worth $500 million over the next 20 years.
The Interior Department said Thursday it will offer 38.6 million acres offshore Louisiana, Mississippi and Alabama for oil and natural gas exploration and development in the Central Gulf of Mexico Lease Sale 227 to be held in March. The sale could potentially result in almost 4 Tcf of natural gas production and nearly one billion bbl of oil production, according to the agency.
A subsidiary of Royal Dutch Shell plc has been given another six months to decide whether to purchase property in western Pennsylvania for a proposed “world scale” ethane cracker in the heart of the Marcellus Shale.
A Utah field office for the federal Bureau of Land Management (BLM) has begun seeking public comment on its environmental assessment (EA) of a proposal to offer 12 parcels totaling more than 14,000 acres for oil/natural gas leases in May 2013.
The increased role of global players and the use of long-term contracts may bring more stability to North America’s natural gas market and offer a chance for a balanced market before the end of the decade, according to consulting firm A.T. Kearney.