Chevron Corporation (NYSE: CVX) announced a $26.6 billion capital and exploratory investment program for 2016, including $4.5 billion of expenditures by affiliates. The 2016 budget is 24% lower than investments for 2015. “Our capital budget will enable us to complete … Continue reading
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Despite pressure from some of its member countries, OPEC (The Organization of the Petroleum Exporting Countries) ended a contentious six-hour biennial meeting in Vienna on Dec. 4 without any agreement to restrain crude oil production. The outcome was not unexpected, … Continue reading
Dr. Steven Bohlen, supervisor of the state Division of Oil, Gas and Geothermal Resources (DOGGR), has resigned after 17 months running the agency. Gov. Jerry Brown has appointed Kenneth A. Harris, executive officer of the Central Coast Regional Water Quality … Continue reading
Federal regulators have ordered Plains Pipeline, LP, to remove the crude oil remaining in an idle pipeline that runs from the Santa Barbara coast to Kern County, and to take other corrective action following a failure in the system on … Continue reading
After a day-long hearing, the Kern County Board of Supervisors adopted an ordinance implementing a new land use approval process for oil and gas exploration, extraction, operation and production activities, and also accepted an accompanying environmental impact report. Environmental groups … Continue reading
California Resources Corporation (NYSE:CRC) announced a net loss of $86 million or $0.22 per share for the third quarter of 2015, compared with a profit of $188 million or $0.48 per diluted share for the third quarter of 2014. Revenues … Continue reading