(World Oil)– Partners in Kazakhstan’s second-largest oil field won a case in a local court over environmental fine that could have exceeded $4 billion, the venture said. Kazakhstan previously sought to fine the Kashagan oil field venture partners for about 2.3 trillion tenge, or $5.1 billion at the time but $4.2 billion at current exchange rates. “We welcome the Appellate Court’s decision
World Oil (Bloomberg) – A fight over Gulf of Mexico oil production is looming in Washington as U.S. regulators race to redo guidance on how to protect endangered species ahead of a deadline that could ultimately threaten about 15% of the nation’s crude output. The standoff stems from a scientific assessment that underpins oil and gas operations in the Gulf.
“The days of regulation through litigation are over,” – EPA Administrator Scott Pruitt EPA Administrator Scott Pruitt issued an Agency-wide directive today designed to end “sue and settle” policymaking practices within the EPA. The boss of one of the government’s most powerful regulating bodies initiated a plan that delivers an unprecedented level of public participation and transparency in EPA consent
International Maritime Organization legislation looks to lower emissions from ships to 0.5% from 3.5% by 2020 A push for cleaner fuels in the world’s maritime industry could drastically change the appetite of the world’s refineries, and the producers of heavy crude oil. By 2020, ships around the world will have to cut their sulfur emissions to 0.5% from 3.5% currently,
Drilling Fluids Market Dips to $8 Billion in ’15, but Rise of WBF and Foam-based Muds are Coming on Strong thanks to Environmental Regulations The global drilling fluids market size was valued at USD 7.98 billion in 2015, a slump from the previous year due to declining oil industry activity, San Francisco’s Grand View Research said in a new report. No surprises
