House vows to deliver on energy promises
Washington (UPI) Dec 30, 2014 -
House Republicans will work to create the "architecture of abundance" needed to take advantage of North American energy leadership, a lawmaker said.
The House Energy and Commerce Committee published a 105-page strategy document meant to highlight the agenda of the incoming Republican-led Congress. It says federal policies are ill-suited to develop the infrastructure needed to take advan ...
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Gazprom Neft hails oil success in Iraq
Moscow (UPI) Dec 30, 2014 -
Russian oil company Gazprom Neft said a third well now in service at the Badra oil field in Iraq ensures a production level of at least 15,000 barrels per day.
The Russian company said it brought its third well into production under the terms of a contract concluded previously with its Chinese counterparts at Zhongman Petroleum and Natural Gas Group.
The company, the oil arm of R ...
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Libya pro-government forces shoot down militia chopper
Benghazi, Libya (AFP) Dec 30, 2014 -
A Libyan jet shot down a militia helicopter Tuesday after Islamist-led fighters launched air strikes on a key oil terminal in the east of the country, a military spokesman said.
Fighters from the Islamist-led Fajr Libya (Libya Dawn) coalition of militias, which controls much of Tripoli, as well as second and third cities Benghazi and Misrata, have been trying to seize Al-Sidra oil terminal. ...
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U.S. clears Texas LNG export terminal
Washington (UPI) Dec 31, 2014 -
U.S. federal regulators said they authorized Cheniere Energy, a liquefied natural gas pioneer, to move forward with its export terminal in Texas.
The Federal Energy Regulatory Commission said in a Tuesday filing it cleared Cheniere, which has headquarters in Houston, for construction of an LNG plant and associated pipeline networks in Corpus Christi, Texas.
"We conclude that, wit ...
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Crude oil prices slide on last day of 2014
New York (UPI) Dec 31, 2014 -
Crude oil prices were pummeled in the early Wednesday session on dueling reports showing growing evolution in the U.S. oil market.
West Texas Intermediate, the U.S. price index, fell nearly 2.8 percent below the close from the previous session to trade at $52.61 per barrel for the February contract. Brent, the global benchmark, was off nearly 3 percent from the previous day to trade at ...
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Baker Hughes: U.S. rig count up from last year
Houston (UPI) Dec 30, 2014 -
The number of rigs actively exploring for or producing U.S. oil and gas reserves was down short term, but still up year-on-year, Baker Hughes reported.
Baker Hughes reported 1,840 rigs actively exploring for or producing reserves in the United States for Monday, down 35 from the week ending Dec. 19.
The price for West Texas Intermediate, the U.S. oil price index, is down close to ...
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U.S. oil export policies increasingly fluid
Washington (UPI) Dec 31, 2014 -
A company planning exports of so-called condensate from the United States said it's operating according to precedent, though laws may be on the cusp of change.
Data from the American Petroleum Institute show U.S. oil production is around 9.1 million barrels per day, the highest rate in roughly 40 years and an increase of more than 14 percent from last year.
The increase in oil pr ...
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