U.S. News WASHINGTON – The top two lawmakers on the Senate energy committee on Monday introduced long-awaited legislation to speed permitting of power transmission, mining and liquefied natural gas export projects. Senators Joe Manchin, an independent who caucuses with Democrats, and John Barrasso, a Republican, said their bill would strengthen the power grid and help keep power prices low. WHY
World Oil (Bloomberg) – The U.S. Federal Trade Commission is investigating whether executives at major oil companies including Hess Corp., Occidental Petroleum Corp. and Diamondback Energy Inc. improperly communicated with OPEC officials. FTC investigators are looking for evidence of executives attempting to collude with OPEC officials on oil market dynamics, according to people familiar with the matter who asked not
Yahoo Finance Trinidad and Tobago’s High Court reaffirmed on Thursday a decision recognizing U.S. oil producer ConocoPhillips’ arbitration claim against Venezuela, which could freeze the Caribbean country’s payments to its neighbor for joint natural gas projects. In late May, the court’s original decision opened the door for ConocoPhillips to enforce in that country a $1.33 billion claim against Venezuela for
U.S. News WASHINGTON – The Biden administration is seeking input on whether to add more areas for protection from oil and gas drilling in Alaska’s National Petroleum Reserve, the Interior Department’s Bureau of Land Management announced on Friday. The BLM will take public comment on whether to update protected areas in the Western arctic, including whether to create new protected
World Oil (WO) – According to Reuters, a three-person arbitration panel has been finalized to address ExxonMobil’s claim against Chevron’s $53 billion purchase of Hess Corp over oil-rich assets offshore Guyana. This marks a significant step in resolving the uncertainty surrounding the merger, which Chevron and Hess hoped to complete in early 2024. ExxonMobil filed the claim with the International
World Oil (Bloomberg) – A federal judge halted Joe Biden’s temporary moratorium on new licenses for exports of U.S. liquefied natural gas (LNG), though the decision is unlikely to immediately jump start approvals. U.S. District Judge James D. Cain Jr. in Louisiana issued a preliminary injunction Monday in a lawsuit filed by 16 states, which argued Biden violated federal law
Oil Price The court officer who oversees the auction of Venezuela’s PDV Holding, the parent company of refiner Citgo Petroleum, has asked a Delaware court to postpone the hearing on the winning bids by two months until September 19, to have more time to evaluate the bids and negotiate a sales agreement. The deadline for submitting binding bids for Citgo’s
World Oil (WO) — The American Petroleum Institute (API) released a statement from API Senior Vice President and General Counsel Ryan Meyers applauding the U.S. Supreme Court’s decision to stay the U.S. Environmental Protection Agency’s (EPA) ‘Good Neighbor Rule,’ ensuring the oil and gas industry can continue to provide affordable, reliable energy to American consumers at a time of persistent
Oil Price In a landmark decision, the U.S. Supreme Court has overturned the Chevron doctrine, a decades-old legal precedent that granted federal agencies the authority to interpret ambiguous laws. The 6-3 ruling marks a significant shift in the balance of power between federal agencies and the judiciary, with profound implications for the oil and gas industry, as well as other sectors
World Oil Publisher’s Note: Chevron will be a presenter at the upcoming EnerCom Denver – The Energy Investment Conference on August 18-21, 2024. Register to attend. (WO) – The arbitration process to determine whether ExxonMobil can block the $53 billion sale of Hess Corp to Chevron is stalled due to the incomplete appointment of a third arbitrator, according to
World Oil (WO) – The American Petroleum Institute (API) filed a lawsuit in the D.C. Circuit Court of Appeals challenging the U.S. Environmental Protection Agency’s (EPA) heavy-duty (HD) vehicle emissions standards for model years (MY) 2027-2032. “Today, we are standing up for consumers who rely on trucks to deliver the goods they use every single day,” said API Senior Vice
World Oil (WO) – The Gulf Energy Alliance (GEA) joined the States of Louisiana, Texas, and Mississippi in a legal challenge to the Department of Interior’s (DOI) Bureau of Ocean Energy Management’s (BOEM) decommissioning rule imposing unnecessary and burdensome financial requirements targeting independent offshore oil and natural gas producers. The new regulation is a solution in search of a problem,
