Chesapeake Energy and its CEO, Aubrey McClendon, have been the public face of the U.S. shale-gas revolution, which is as celebrated for its role in transforming energy geopolitics as it is feared for the potential environmental impacts of its key technology -- hydraulic fracturing, or 'fracking.' Now, allegations of scandal at Chesapeake, the nation's second-largest gas producer, draw new scrutiny to an industry leader.
Borealis AG, the petrochemical and plastics company owned by Abu Dhabi and OMV AG of Austria, may consider bringing in cheap ethane from the U.S. if it’s a cost- effective way of supplying petrochemical plants.
Mitsui & Co., Mitsubishi Corp. and Nippon Yusen K.K. will jointly take a one-third stake in a U.S. liquefied natural gas export facility to be built for as much as $10 billion as Japan seeks to tap cheaper shale gas following the Fukushima nuclear disaster.
Oil and gas industry representatives offered qualified support for a U.S. proposal to govern hydraulic fracturing on public lands that establishes federal oversight while deferring to state standards in some cases.
Hess Corp. ended a four-month proxy battle with billionaire Paul Singer’s Elliott Management Corp., adding three of the activist investor’s five board nominees and heading off a shareholder vote on competing candidates.
Chevron Corp., the second-biggest U.S. oil company, said it’s preparing an investment that will help make the country energy independent by developing what could be the world’s second-largest shale oil reservoir.
Quebec Environment Minister Yves- Francois Blanchet introduced legislation that would ban hydraulic fracturing, drilling and testing for natural gas in the St. Lawrence River valley for as long as five years.
YPF SA, Argentina’s biggest energy company, rose the most in almost five months after it said Chevron Corp., the second-biggest U.S. oil company, will be the first major crude producer to partner with it to develop shale oil and natural gas.
U.S. natural gas prices, pushed to a record high after hurricanes Katrina and Rita barreled through the Gulf of Mexico eight years ago, are now more vulnerable to winter freezes than tropical storms after production moved onshore with the growth of drilling in shale formations.
Chancellor Angela Merkel must ditch coal in favor of cleaner gas power plants to protect the climate, said the co-leader of Germany’s Greens party, urging a redoubling of efforts to raise carbon prices in the world’s biggest cap-and-trade program.
As Anadarko Petroleum Corp. Chairman Jim Hackett steps down and heads off to Harvard Divinity School, Chief Executive Officer Al Walker’s biggest challenge is convincing investors nothing will change at the $45 billion global oil explorer.
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