Former Vice President Al Gore and former House Speaker Newt Gingrich were facing off Friday before lawmakers, each on opposite sides of a major climate and energy bill.
Both were testifying on the fourth and final day of a hearing before the House Energy and Environment Subcommittee.
Petrobras’ average oil and gas production in Brazil, in March, topped out at 2,315,276 barrels of oil equivalent per day (boed), 9.5% more than a year ago and 3% above last month’s mark.
Nuiqsut, Alaska — The year the oil companies seriously began exploring the icy waters off the Arctic National Wildlife Refuge — where Nuiqsut whalers have hunted for as long as men have wandered on dark waters — the villagers lost two bowhead.
WASHINGTON, DC — Refiners will be hit harder than other US manufacturers under proposed cap-and-trade legislation, a ConocoPhillips official told the US House Energy and Commerce Committee.
Douglas Westwood’s recently presented report provides an essential and complete overview of the technology and future prospects for the offshore drilling business. It reviews and forecasts the world market by region and type of activity. By the number of wells being drilled and by the investment capital that will be required to fulfill this activity.
After rising for the third straight day in Thursday trading oil futures continued to trade slightly up at around the $49 a barrel mark in Asia, as regional share markets remained relatively consistent and fundamental stayed weak.
BUFFALO, N.Y.–A New York state utility is exploring whether it is possible to put electricity-generating wind turbines in the Great Lakes, rather than inland or along the shoreline.
The state-owned New York Power Authority on Wednesday began asking potential developers how they would go about constructing an offshore wind project in Lake Erie or Lake Ontario and what the environmental, technical and other hurdles might be.
ConocoPhillips, the US’ third biggest oil and gas company, swung back to profitability in the first quarter, beating analysts’ forecasts as operating costs fell amid the downturn.
Conoco reported first-quarter earnings of $840m, or 56 cents per share, down sharply from $4.1bn, or $2.62 per share, in the year-earlier period. But, nonetheless, it was an improvement from the previous quarter.
For the 2008 fourth-quarter, Conoco reported a net loss of $31.8bn, hit by plunging commodity prices and a massive $34bn write-down on the ensuing reduction in its asset values.
In the first quarter of 2009, Conoco said lower commodity prices were partially offset by lower operating costs, lower production taxes and higher volumes.
The company’s refining and marketing segment reported first-quarter earnings of $205m, compared with adjusted earnings of $753m in the previous quarter and earnings of $520m in the first quarter of 2008.
This reflected a 70 per cent decline in worldwide marketing margins, in addition to lower volumes because of increased turnaround activity in the US.
Revenues were $30.7bn, down from $54.9bn a year ago.
Newton, Ia. — President Barack Obama, in Iowa Wednesday, announced plans to allow offshore wind energy production, a step that economic development officials said could spur the state’s burgeoning renewable energy industry.
