The US Department of State issued a presidential permit for the proposed Keystone XL crude oil pipeline more than 8 years after sponsor TransCanada Corp. originally sought cross-border approval of the project. Under-Secretary for Political Affairs Thomas A. Shannon Jr. signed the permit after President Donald J. Trump reversed his predecessor Barack Obama’s decision and […]

India’s Cabinet Committee on Economic Affairs (CCEA) has approved a policy for the extension of production-sharing contracts for blocks awarded prior to the New Exploration Licensing Policy (NELP), which has been in use since 1999 (OGJ Online, Mar. 8, 2017). Source: News

The US Energy Information Administration estimates working gas in underground storage across the Lower 48 was 2.092 tcf as of Mar. 17, marking a net decrease of 150 bcf from the previous week. Source: News

Light, sweet crude oil prices dropped back below $48/bbl on the New York market Mar. 23 while Brent crude settled below $51/bbl in London for a third consecutive day. Source: News

Current-year deductibility of exploratory drilling costs succumbs to what the Canadian government describes as a campaign against “inefficient fossil-fuel subsidies” in a federal budget proposed Mar. 22. Source: News

Eni SPA discovered the presence of oil in the Amoca-2 well, the first drilled by an international operator in Mexico since the 2013 energy reform. Source: News