US EPA finds hydraulic fracturing safe for drinking water in most cases

While water pollution associated with hydraulic fracturing operations has occurred, the revolutionary oil extraction technique has not led to widespread, systematic pollution of drinking water in the U.S., according to a long-awaited study from the Environmental Protection Agency (EPA). The EPA has worked on the study for nearly five years. Now with some assurance, the…

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Gazprom pushes Russian shale boom ambitions despite U.S. sanctions

OAO Gazprom Neft, the oil arm of Russia’s state-run gas exporter, said commercial production from its Bazhenov shale formations could start in three years amid U.S. sanctions limiting the transfer of fracking technology. The company aims to produce about 40,000 barrels of crude a day from the deposits from 2018, Kirill Strizhnev, head of unconventional…

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Canadian shale field could rival the Bakken but won’t produce anytime soon

The Canadian oil industry is associated mostly with the bitumen recovered from reserves such as the Alberta tar sands, but recent data from the National Energy Board (NEB) and the Northwest Territories Geological Survey has revealed a shale oil reserve that could rival the Bakken formation. The massive, untapped oil reserve could hold upwards of…

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Exxon CEO: Europe should see climate benefits of shale gas

Exxon Mobil Corp. CEO Rex Tillerson said Europe should see the “tremendous environmental benefits” of producing natural gas from shale, pointing to the U.S. output boom as a model for cutting greenhouse-gas emissions. “Natural gas and shale have been instrumental in reducing CO2 emissions to levels not seen since the 1990s” in the U.S., he…

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Shale to play big role in Mexico’s energy reform success: Report

Mexico’s shale resources will play an integral role in the success of Mexico’s energy reform, but significant challenges will need to be addressed, including the construction of roads, housing, rail, pipelines and other infrastructure, as well as skilled workforce development and security issues. The country is well-positioned to take advantage of unconventional extraction techniques due…

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China mulls sale of state corporation pipelines

China’s government appears to be planning a major restructuring of its petroleum industry that would force state-owned giants to sell their pipeline networks. The limited breakup of the oil and gas monopolies under consideration by the National Development and Reform Commission (NDRC) would establish pipeline operators as independent businesses to ensure competitive access, Bloomberg News…

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RIL, Pioneer sell some midstream shale gas asset for $2.15 billion; retain upstream

India-based Reliance Industries Ltd (RIL) and American-based Pioneer Natural Resources have entered into an agreement with North America-based Enterprise Products Partners to sell their stakes in Eagle Ford Shale (EFS) Midstream for $2.15 billion. Pioneer owned 50.1% in the venture, while RIL had the remaining 49.9%. RIL has sold its stake for a consideration of…

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