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Northern Gas Pipelines O&G Briefs Feb. 19

2-19-12

Korea to raise self-supply of oil, natural gas to 35% - Korea Herald - Korea will develop on its own 35 percent of its oil and natural gas demands by 2020, up from the current 13.7 percent, the Ministry of Knowledge Economy said Thursday amid U.S. pressure to cut its crude oil imports from Iran.
 
Alaska’s oil taxes too high, too complex, consultant tells legislators - Alaska Journal of Commerce, Tim Bradner - A consultant retained by Alaska’s Legislature has recommended the state rein in taxes on oil production to attract industry investment but also to dismantle a complex set of exploration and development incentives that gives away too much, with the state paying as much as 80 percent of the cost of new exploration wells, state lawmakers were told in hearings Thursday.
 
Shell Clears Major Hurdle in Its Bid for New Arctic Drilling - The New York Times, John M. Broder and Clifford Krauss - Shell still must obtain permits from the Environmental Protection Agency for wastewater discharge and from the Interior Department’s Bureau of Safety and Environmental Enforcement to drill each specific well. The company must also demonstrate that its well-capping technology can work in the harsh conditions of the Arctic, and its drilling program must survive any court challenges.
 
Murkowski Applauds Approval of Shell’s Arctic Spill Prevention Plan - Alaska Native News, Office of Senator Lisa Murkowski - “I appreciate Interior’s final approval of Shell’s contingency plan for the Chukchi,” Murkowski said. “Today’s decision confirms what we’ve known for some time – that Shell has put together a robust and comprehensive spill prevention and response plan that offers the highest level of environmental protection.”
 
Crews Set to Begin Thawing Out Rig Over Blown Out Test Well - Alaska Public.org, Lori Townsend - No workers were injured or oil spilled at the well near the mouth of the Colville River. The Department of Environmental Conservation estimates about 42,000 gallons of drilling mud were released on the gravel pad and snow-covered tundra.

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