Proposed fracking rules hit by green, oil groups

May 18, 2013

Proposed fracking rules hit by green, oil groups

The Obama administration drew sharp criticism from environmental and oil industry groups Thursday when it issued a new draft of regulations for fracking on federal and Indian lands. Environmental groups said the new draft provides weaker water protections than a version the Interior Department ...

Moniz confirmed as energy secretary

May 18, 2013

Moniz confirmed as energy secretary

Physicist Ernest Moniz won unanimous Senate confirmation Thursday to be the new U.S. energy secretary. Moniz, 68, a professor at the Massachusetts Institute of Technology, replaces Steven Chu, who served as energy secretary in President Barack Obama’s first term. Moniz was an energy undersecretary ...

U.S. production boom transforms global oil trade

May 16, 2013

U.S. production boom transforms global oil trade

The surge in oil production in the U.S. and Canada and shrinking oil consumption in the developed world is transforming the global oil market. The threat of chronic oil shortages is all but gone, U.S. dependence on Middle Eastern oil will continue to dwindle ...

May 16, 2013

EU raids oil firms in antitrust probe

The European Commission has carried out surprise inspections at several major oil companies over possible price-fixing in breach of EU antitrust rules. The commission did not name any of the companies involved in Tuesday’s raids but British energy giant BP, Shell and Norway’s Statoil ...

Feb 11, 2013

Japan offers help building Saudi nuclear power plants

Trade and industry minister Toshimitsu Motegi has extended an offer to help Saudi Arabia build nuclear power plants. In a meeting in Riyadh on Saturday with Waleed Hussain Abulfaraj, vice head of the King Abdullah City for Atomic and Renewable Energy, Motegi suggested the ...

Jan 22, 2013

Gas station, refinery closures loom over tank law

Declining demand for gasoline and other petroleum products as well as changes in the legal framework governing the industry may prompt the closure of gas stations and refineries in the months ahead. Under the revised Fire Service Law, by the end of the month, ...

Russia lauds $25 billion oil link to Pacific

Dec 27, 2012

Russia lauds $25 billion oil link to Pacific

Russian President Vladimir Putin on Tuesday unveiled the final extension of a new $25 billion oil pipeline to the Pacific that underscores the energy power’s gradual shift away from stagnant European markets. The East Siberia-Pacific Ocean (ESPO) link is also expected to expand sales ...