Connect with us

Oilfield News

Future Presidential Candidate Newsom calls for oversight of California petroleum industry

Published

on

Gov. Gavin Newsom, in the Central Valley on Wednesday for a firsthand look at one of the largest oil spills in California history, vowed to go beyond the state’s already aggressive efforts to curtail the use of fossil fuels and seek a long-term strategy to reduce oil production.
LATIMES.COM

Gov. Gavin Newsom is briefed on a million-gallon spill in McKittrick by Billy Lacobie of Chevron, center, and Jason Marshall of California Department of Conservation Division of Oil, Gas and Geothermal Resources.

While the incoming administration was still learning the ropes in Sacramento, agency employees quietly doubled the rate of hydraulic fracturing (or “fracking”) permits issued to oil companies.

In response, Gov. Gavin Newsom took swift and decisive action, firing the head of the agency and vowing to appoint a replacement who shares his opposition to fracking.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Geopolitics

Washington: Nord Stream 2 sanctions on the way

Published

on

By

Washington is getting ready for another sanctions package that if put in place would put major restrictions on companies involved in Russia’s $10.5-billion Nord Stream 2 project.

United States Energy Secretary Rick Perry said on Tuesday that a sanctions bill putting onerous restrictions on companies involved in the Nord Stream 2 project and would come in the “not too distant future”.

US sanctions against the controversial Nord Stream-2 pipeline from Russia to Germany are unlikely to stop the project’s construction but may prevent Russian gas monopoly Gazprom from using the pipeline at full capacity in the future, Alexei Kokin, a senior oil and gas analyst at UralSib Financial Corp in Moscow, told New Europe on 23 May. neweurope.eu

Half of the €9.5 billion project is financed by Gazprom, with the rest covered by its European partners: Germany’s Wintershall and Uniper, Anglo-Dutch Shell, France’s Engie and Austria’s OMV. – https://www.euractiv.com

The US wants to expand its LNG exports into the EU and has frowned upon any new pipelines into Europe from Russia. Even after the EU Promised To Double US LNG Imports Within 5 Years. at the start of the month, U.S. Energy Secretary Rick Perry addressed the High-Level Business-to-Business Energy Forum in Brussels, telling them that U.S. gas is more reliable than Russian gas.

Why Russia wants the Nord Stream 2?: Ukrainian

Russia decides to forge ahead with the pipeline after the Ukrainian Government was found stealing Russia gas from the pipeline passing through into Europe and disputes concerning gas debts and non-payment. “If Nord Stream 2 becomes operational, Ukraine will be cut out from gas transit, losing roughly the equivalent of its defense budget each year in fees,” said Agnia Grigas, energy and political risk expert at the Atlantic Council.

Russian President Vladimir Putin said that Russia will continue gas transit through Ukraine if it remains economically feasible.

Continue Reading

Commodities

OPEC is sending a clear warning to Washington

Published

on

By

OPEC is sending a clear message to Wall Street banks and big investors: if Washington passes legislation that would allow the U.S. government to sue the cartel, the first victim will be shale.

Suhail Mohammed Al Mazrouei, the United Arab Emirates oil minister and the former president of OPEC, told a group of U.S. financiers Monday that if the so-called NOPEC bill becomes law, the cartel would stop working and therefore every member would raise production to maximum capacity, causing a crash in oil prices and thus the end of fracking in the U.S, according to people who attended the meeting.

Soon, the Senate Judiciary Committee, led by Sen. Lindsey Graham, could have a chance to determine NOPEC’s fate.

The American Petroleum Institute has stated its opposition to the measure, but OPEC is taking aim at the financial industry that plays a big role providing billions of dollars in debt and equity to U.S. drillers.

Continue Reading
Advertisement Oilfield Forums
Advertisement Oilfield Forums
Advertisement

Fracking Categories

Tags

Trending