US energy giant Chevron is terminating its operations in Romania due to poor exploration results and prolonged protests by environmentalists.The withdrawal from this fracking project will mark the end of the company’s shale gas exploration in Europe.
Oil giant BP says significant shale gas production in Britain and Europe over the next 20 years is unlikely. In a damning forecast, the energy firm said fracking will gain little traction outside America before 2035.
Libya’s Waha Oil Company has posted a video on its Facebook page showing the fire that raged through El Sarir oil field and halted oil flows to the Hariga port, in what is believed to be an act of sabotage.
Oil giant BP is set to announce plans on Tuesday detailing cuts worth billions of pounds to its capital spending program, following the dramatic plunge in oil prices and a 40 percent fall in its fourth quarter profits.
American energy giant Chevron announced it will discontinue its shale gas project in Poland as it no longer makes business sense. The company previously canceled drilling projects in the Arctic and in Ukraine.
In a victory for the Labour Party and other opponents of fracking, the Conservative-led coalition has announced that fracking will be banned in all national parks. Further restrictive measures were also placed upon shale gas companies.
Facing a $3.5 billion budget deficit following a huge drop in oil prices, Alaska is looking for ways to cut spending and cover the gap in an open and transparent way, Alaskan Governor Bill Walker told RT.