US District Judge Brian Morris on Friday denied TransCanada's request to conduct pre-construction activities related to the Keystone XL pipeline project until the Trump administration finishes a new environmental review. The decision could alter the project timeline, potentially delaying the start of construction until next year at the earliest.
A report by British nonprofit Carbon Tracker revealed that oil and natural gas companies that prioritize growth tend to perform worse in the stock market than those focused on capital return. Around 90% of surveyed companies tied executive compensation to growth metrics in 2017.
India-based refiner Indian Oil has reportedly signed a deal worth about $1.5 billion with Norwegian oil company Equinor to acquire 60,000 American oil barrels per day through March 2020 as it reduces its dependence on OPEC crude. "We expect lots of volume going away from Venezuela, West Africa and Iran, so it makes sense to have guaranteed term supplies from the US, where crude production is increasing," said Sri Paravaikkarasu of Singaporean energy consultancy FGE.
North Dakota's oil production climbed 1.8% from November to an all-time high of 1.4 million barrels per day in December, marking the first time production has reached that mark, according to the North Dakota Department of Mineral Resources. The state also pumped record natural gas volumes of 2.65 billion cubic feet per day, up 5.1% over November.
The number of US oil and natural gas rigs increased by two last week to 1,051 active units, with the Gulf of Mexico adding three rigs, Louisiana gaining four and Wyoming adding three, according to Baker Hughes. Meanwhile, the Permian Basin rig count fell by five.
Pioneer Natural Resources says it will increase this year's hydrocarbon production by 15% -- a drop from the previous two years' 20% increases. The Texas-based company, which produces about 181,000 barrels per day in the Permian Basin, plans to lower capital expenditures by 11%.
The North Dakota Senate on Friday voted 42-3 in favor of a bill that clarifies definitions and proposes steeper fines for organizations that support people who tamper with or damage energy infrastructure such as pipelines. The state House will now consider the bill.
The Transportation Department's Pipeline and Hazardous Materials Safety Administration has unveiled new regulations that obligate railroads to create oil spill response plans and provide oil shipment information to states and tribal governments. The new rules will take effect in August.
A bill being considered by Democratic Florida state Rep. Bruce Antone would remove the legal right of Disney World's private government to build a nuclear plant on its Orlando property. The state law that created Disney's government is likely exceeding its authority anyway because the location of nuclear plants is a federal matter, says former Nuclear Regulatory Commission Public Affairs Director Eliot Brenner.
Comcast's Plymouth, Mass., headquarters has installed a carport with 1,170 solar panels, with an estimated offset in energy use topping 95%. This project, together with a conversion to LED lighting, marks the company's ongoing, statewide commitment to sustainability.
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