Women and minorities will fill an large number of the nearly 1.9 million job opportunities forecast to be added in the oil, natural gas and petrochemical industries by 2035, according to a new report from the American Petroleum Institute.
Of the 1.9 million new job opportunities, 57% are expected to be in blue-collar occupations and 32% in management and professional fields.
The California Air Resources Board (ARB) has posted feedback letters for the February 2016 workshop on proposed regulation of oil and natural gas methane.
Among those who provided feedback letters are the Western States Petroleum Association (WSPA), The California Independent Petroleum Association (CIPA), Southern California Gas Co., San Diego Gas & Electric, Pacific Gas and Electric Company, consulting firms, environmental groups and 10 members of the California Legislature.
The months-long leak of natural gas from a failed well at Southern California Gas Co.’s Aliso Canyon Storage Facility has caused officials at the California Energy Commission to reassess their views on the future reliability of natural gas supplies in Southern California.
The Aliso Canyon underground storage facility, one of the largest in the state, was created in 1972 in a depleted oil field. One of the 115 wells in the facility failed in late October of 2015, resulting in the release of about 100,000 tons of methane and ethane into the atmosphere before the well was killed in mid-February.
California Resources Corporation (NYSE:CRC), announced an adjusted net loss of $77 million or ($0.20) per share for the fourth quarter of 2015, compared with an adjusted net loss of $7 million or ($0.02) per share for the fourth quarter of 2014.
The loss for the full year of 2015 was $311 million or ($0.81) per share, compared with net income of $650 million or $1.67 per share for the same period in 2014.
Days after California Gov. Jerry Brown proposed imposing a per-mile tax on cars because of lower income from gasoline taxes, the state’s Board of Equalization has announced a reduction in those taxes by 2.2 cents per gallon.
If adopted, the per-mile tax would help provide money to build roads and fix potholes. Those funds are declining because improved fuel economy has reduced sales of fuel and the state’s income from gasoline taxes.
Chevron Corp. reported full-year 2015 earnings of $4.6 billion, or $2.45 per share. This compares with $19.2 billion, or $10.14 per share, in 2014. Sales and other revenues for the full year were $129.9 billion, compared to $200.5 billion for 2014.
San Ramon-based Chevron reported a loss of $588 million, or 31 cents per share, for the fourth quarter of 2015, compared to earnings of $3.5 billion or $1.85 per share in the year-earlier quarter. The quarter’s sales and other revenues were $28 billion, compared to $42 billion in the year-earlier period.