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Oil drillers promise withdraw from Africa's Eden
2014-06-12 00:03:00| Climate Ark Climate Change & Global Warming Newsfeed
New Scientist: There will be no drilling in paradise. Soco International, a British oil company, has abandoned plans to drill for oil in Virunga National Park in the Democratic Republic of the Congo (DRC). The park is a World Heritage Site, and UNESCO says it is Africa's richest trove of natural beauty and biodiversity. Soco will leave in about a month, after completing a seismic survey of the park's Lake Edward, where drilling was to have commenced. Tens of thousands of local people depend on the lake for fish,...
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Nuclear power, natural gas drillers like Exxon Mobil surprise beneficiaries of Obama rule
2014-06-02 21:31:35| Chemicals - Topix.net
Companies that generate electric power with anything other than coal, or that produce power-saving technology, are likely to benefit from the Obama Administration's new proposed limits on carbon dioxide emissions from power plants.
Shale Drillers Struggle To Keep Up With Spending
2014-05-27 17:18:00| OGI
Shale debt has almost doubled over the last four years while revenue has gained just 5.6%, according to a Bloomberg News analysis of 61 shale drillers.
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spending
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shale
Junk-Rated Debt Is Utilized By Shale Drillers
2014-05-01 18:36:00| OGI
The high volume of junk-rated debt "keeps the shale revolution going even as companies spend money faster than they make it," according to Bloomberg.
Tags: debt
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The fracking divide: Mexicos oil frontier beckons U.S. drillers in wake of new law
2014-04-19 21:11:00| Climate Ark Climate Change & Global Warming Newsfeed
Washington Post: The geological marvel known to Texas oilmen as the Eagle Ford Shale Play is buried deep underground, but at night you can see its outline from space in a twinkling arc that sweeps south of San Antonio toward the Rio Grande. The light radiates from thousands of surface-level gas flares and drilling rigs. It is the glow of one of the most extravagant oil bonanzas in American history, the result of the drilling technique known as hydraulic fracturing, or fracking. After the passage of a landmark...
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