White House against crude export bill
USA The HR 702 bill, sponsored by Texas Republican Joe Barton, proposes a lift to a four-decade old ban on selling fuel abroad and will go to vote in the House of Representatives on Friday. The bill is expected to pass the house, which is controlled by Republicans.
Oil companies that support repealing the ban say that the lift would help offset the excess of oil from the US shale revolution. Furthermore, it would allow the US to compete on the international oil and gas playing field.
Those who oppose the repeal claim that it would lead to increased drilling, harming the environment.
Recent Posts
Iberdrola to triple offshore wind assets to $18 billion
Spain's Iberdrola plans to triple its offshore wind assets in the coming years, bringing their value to USD 18 billion,… Read More
Angola’s Azule Energy awards Saipem $850-million contract
Saipem has been awarded a USD 850-million contract for subsea works in Angola by local BP-Eni joint venture Azule Energy,… Read More
Arrow Exploration spuds new well in Colombia
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas makes discovery off Suriname
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japan’s JERA slates $32 billion for LNG, renewables, new fuels
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron planning UK North Sea exit
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More