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Rep. Bob Goodlatte, outgoing chair of the House of Representatives Judiciary Committee, pressed the Justice Department’s Makan Delrahim on Dec. 12 to support legislation that would make it easier for the U.S. government to sue to stop OPEC members from pushing up oil prices.
The Nigerian government filed a $1.1 billion lawsuit against Shell and Eni in a commercial court in London on Dec. 13 in relation to a 2011 oilfield deal involving block OPL 245.
Oil producer cartel OPEC and its partners will need to keep production lower than their agreed target through 2019 for benchmark Brent crude to come back to $70 a barrel (bbl), oil and gas consultancy Rystad Energy said.
British shale gas company Cuadrilla has again paused hydraulic fracturing at its Preston New Road site in Lancashire, northwest England, after tremors were detected, the company said.
Environmental groups opposed to offshore drilling sued the federal government to prevent future seismic tests for oil and gas deposits in Atlantic waters off the U.S. East Coast.
Average world temperatures are on course to far exceed the main goal set in the 2015 Paris Agreement on limiting global warming, a study showed on Dec. 11.
U.S. Energy Secretary Rick Perry said on Dec. 11 he discussed sanctions against Iran with Iraqi energy officials as Washington pressures Baghdad to stop importing Iranian gas that is crucial for its power grid.
Addressing these issues has become a priority for many operators and service companies as they work to overcome adverse perceptions of their own industry.
Ibama said it had given Total all possible opportunities to correct problems found during the technical evaluation and that the company had been informed of the decision earlier on Dec. 7.
Mexico's energy secretary said Lopez Obrador's newly installed administration would cancel two February bidding rounds for oil and gas blocks, including Mexico's first shale areas.
After oil market dropped 30% from October, the market jumped 5% with OPEC’s decision to cut oil production by 1.2 million barrels per day.
Two-day marathon meeting leads to more bullish than expected oil output cuts by OPEC and its allies.