China National Offshore Oil Co. (CNOOC), through Canadian subsidiary Nexen Energy, has been awarded a site for its proposed liquefied natural gas (LNG) export terminal on the northern Pacific coast of British Columbia (BC), the provincial government said Wednesday.
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After 70 years as a Mexican government-owned monopoly, Petroleos Mexicanos (Pemex) may be ready to accept allowing energy investors in, Raymond James & Associates Inc. analysts said in a report.
President Obama Tuesday announced his decision to nominate Timothy Massad, a Treasury Department official heavily involved in the federal bank bailout program, as chairman of the Commodity Futures Trading Commission (CFTC), an agency that has gained prominence as it has reined in excessive or illegal speculation in the commodity derivatives and futures markets.
A proposal before congress aimed at capturing a greater share of the revenues from offshore oil and natural gas drilling for the coastal states could increase the federal debt by more than $49 billion by 2040 while penalizing coastal states that oppose expanded offshore drilling, according to areport by the Center for American Progress (CAP).
U.S. exploration and production (E&P) operators have begun to disclose some of the risks involved with their development efforts, but overall, they continue to do a poor job of communicating how they manage toxic chemicals, water, waste, air emissions and community impacts, according to shareholder advocates.
Pacific Gas and Electric Co. (PG&E) senior executives admitted Wednesday that the utility has dropped the ball in keeping state regulators informed of its efforts to upgrade the safety of its natural gas pipeline network. But they argued that at no time has the system’s safety been compromised.
In what has become a public relations — and financial — concern, California regulatory staff on Tuesday slapped Pacific Gas and Electric Co. with an $8.1 million citation for allegedly failing to meet federal requirements in inspecting part of its natural gas transmission pipeline system earlier this year.