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Tag Archives: chevron

Australia’s LNG double-edged sword shows commodity challenges: Russell

(The opinions expressed here are those of the author, a columnist for Reuters.) LAUNCESTON, Australia – With commodity prices slumping, the local currency slipping and manufacturing jobs disappearing, Australians are starting to question whether they’ve backed the wrong economic horse. The country’s wealth and unbroken 24 years of economic growth have largely been built on exploiting natural resources and the ...

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INSIDE FRACKING: Chevron offers rare look at controversial practice

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Patrick Niebuhr was chatting with a visitor outside a mobile command center in the Lost Hills Oil Field when suddenly a loud rumbling arose and exhaust began to stream from a series of red semi-trucks parked nearby. The commotion told Niebuhr, a Bakersfield-based technology manager with Halliburton Co., that the “frack job” he and engineers at Chevron had spent months ...

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China becomes world’s top crude buyer despite economy stuttering

SINGAPORE – China overtook the United States as the world’s top importer of crude oil for the first time in April, and its purchases are expected to remain strong despite a slowing economy, with far-reaching consequences for global oil and commodities markets. The soaring imports came as a surprise as growth in the world’s second-largest economy was sputtering and its ...

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BP seeks LNG buyers to finance $12 bln Tangguh Train 3 project in Indonesia

JAKARTA – BP said it would be tough to proceed with financing for a planned third LNG train at its Tangguh project in West Papua, Indonesia, without buyers for the remaining 1.3 million tonnes of annual output from the production plant. Prospects for new liquefied natural gas (LNG) developments globally have been hammered by the fallout from a 50-percent drop ...

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Fracking: Oil company drops lawsuit attempting to overturn San Benito County ban

One month after mounting a legal challenge to San Benito County’s ban on the controversial oil exploration practice of fracking, a Southern California oil company has withdrawn its lawsuit. The decision now means that none of the local bans on fracking in California is under legal challenge, environmentalists said Monday, even as several more counties — including Santa Clara, Monterey ...

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Chevron’s long game

Much of the Permian Basin’s oil boom eluded the world’s supermajor oil companies like Chevron, who took their corporate offices and large management teams from the area in the 1990s as common perception held the region was slowly dying. But during this downturn, the supermajors see opportunity again in the Permian Basin. Chevron, and to a lesser extent Exxon Mobil, ...

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