Los Angeles-based Occidental Petroleum Corporation (NYSE: OXY) has announced plans to sell a minority interest in its operations in the Middle East and North Africa, as well as some domestic properties. The sales “are the first formal steps in our … Continue reading
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The United States is moving into the position of the world’s No. 1 producer of oil and natural gas, ahead of Russia, according to the Wall Street Journal. The U.S. is currently producing the equivalent of about 22 million barrels … Continue reading
The following column by Dennis Luna, which explains the economic and environmental benefits of hydraulic fracturing, was published in the September 16th issue of the San Fernando Valley Business Journal. Don’t Cap The Fracking Gusher By Dennis R. Luna Political leaders, … Continue reading
The Assembly Appropriations Committee voted 12-5 Friday, August 30, to approve Senate Bill 4 (Fran Pavley, D-Agoura Hills), clearing the way for the full Assembly to vote on regulations for hydraulic fracturing (“fracking”), acidizing and other oilfield practices. SB 4 would require … Continue reading
The City of Whittier will give about $11 million a year in oil revenues to a conservation agency under an agreement aimed at settling litigation over development of a small parcel located within an area designated as a nature preserve. … Continue reading
The request by the American Petroleum Institute to intervene in a lawsuit by environmental groups against the Bureau of Land Management was denied. The August 9 ruling, by Judge Paul S. Grewal of the Federal District Court in San Jose, … Continue reading