Subscribe to our free daily newsletters
  Oil and Gas News from OilGasDaily.Com  




Subscribe to our free daily newsletters



OIL AND GAS
Alaska critical to U.S. energy strategy, federal government says
by Daniel J. Graeber
Washington (UPI) Jun 22, 2017


An estimated $3 million in high bids from an energy company looking to tap southern Alaskan waters is critical to U.S. interests, the federal government said.

The U.S. Interior Department's Bureau of Ocean Energy Management said Hilcorp Alaska LLC was the lone high-bidder for a lease sale in the federal waters of the Cook Inlet off the state's southern coast. The lease, the first in nearly a decade, brought in $3 million in high bids from the company.

Alaska is on the brink of a credit downgrade because the lack of a budget for fiscal year 2018. Walter Cruickshank, the acting director for the BOEM, said the lease could help stimulate energy development in Alaska, while advancing U.S. President Donald Trump's agenda to push the oil and gas sector into dominance.

"Expanded oil and gas production is critical to America's economic and energy security, as we move to strengthen the Nation's energy independence in accordance with the administration's goals," he said in a statement.

A 2011 study from the U.S. Geological Survey put the reserve estimate at a mean 599 million barrels of oil and a mean 19 trillion cubic feet of natural gas for technically recoverable undiscovered resources onshore and in state waters that are part of the Cook Inlet.

The region hosts three active refineries and a gas storage facility. Environmental groups have expressed concern that oil and gas activity would threaten the marine ecosystem but the state in 2005 found safeguards were in place to help preserve the region's pristine environment.

The Trump administration has signaled it would include parts of Alaska above the Arctic Circle in its broader lease plan. Trustees for Alaska, a conservation group, said the federal government was disregarding the interests of "all the other Alaskans and Americans" keen on protecting sensitive areas against oil and gas interests.

The BOEM said the lease terms include measures to "avoid potential conflicts associated with oil and gas development in the region."

The last lease in the Gulf of Mexico secured nearly $275 million in high bids.

OIL AND GAS
Iran: OPEC production cuts are difficult
Washington (UPI) Jun 20, 2017
Cutting back on production levels is a difficult task for members of the Organization of Petroleum Exporting Countries, Iran's oil minister said Wednesday. Iran ranks third among OPEC member states in terms of proven crude oil reserves. Production has been more or less steady since the fourth quarter of 2016 at 3.7 million barrels per day, though that's up about 8 percent from 2016. Whi ... read more

Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Corn better used as food than biofuel

Discovery could lead to sustainable ethanol made from carbon dioxide

Researchers produce biofuel for conventional diesel engines

Turning car plastics into foams with coconut oil

OIL AND GAS
Freshwater from salt water using only solar energy

Using sunlight to the max

Solar heating could cover over 80 percent of domestic heating requirements in Nordic countries

Photopower for microlabs

OIL AND GAS
Thrive Renewables delivers mezzanine funded wind farms in Scotland

It's a breeze: How to harness the power of the wind

ADB: Asia-Pacific growth tied to renewables

GE Energy Financial Services Surpasses $15 Billion in Renewable Energy Investments

OIL AND GAS
Russia sells stake in Akkuyu nuclear plant project in Turkey

Japan court clears way for nuclear reactor restarts

AREVA-EWN consortium to dismantle the Reactor Pressure Vessel at Brunsbuttel

UNIST improves remote detection of hazardous radioactive substances

OIL AND GAS
France pledges $34 mln for foreign climate experts

Understanding multi-decadal global warming rate changes

Trump was 'wrong' to leave climate change deal: UK minister

EU's Juncker says no Paris climate deal renegotiation

OIL AND GAS
Uber CEO Kalanick resigns under pressure

Ford to import Focus cars built in China

China's Mobike raises $600 mn to fund bike-sharing expansion

Wireless charging of moving electric vehicles overcomes major hurdle in new Stanford study

OIL AND GAS
Iraqi forces advance in Mosul Old City, rescue civilians

Iraqi forces push into Mosul Old City, warn IS 'surrender or die'

Wheel of fate spins at screening centre in Iraq's Mosul

100,000 civilians held by IS in Mosul's Old City as 'human shields': UN

OIL AND GAS
K-Pop boycott of US troops concert 'regrettable': Seoul

US Navy accuses Iranian vessel of dangerous activity

Mattis warns N. Korea is 'most urgent' threat to peace

Trump to host S.Korea's Moon for N.Korea talks




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement