Home / Tag Archives: ConocoPhillips (page 2)

Tag Archives: ConocoPhillips

Alaska gas line project partners approve work plan, budget

JUNEAU, Alaska — The partners in a major liquefied natural gas project that the state of Alaska is pursuing voted Thursday to approve a work program and budget for the coming year. The state is pursuing the project with the North Slope’s major producers: BP, ConocoPhillips and Exxon Mobil Corp. Miles Baker, a spokesman for the state-sanctioned Alaska Gasline Development ...

Read More »

Oil companies blocked from passing Alaska pipeline taxes to state, independents

A federal agency’s recent decision to prevent the oil-company owners of the trans-Alaska pipeline from charging higher shipping rates to recover costs from a mismanaged upgrade also blocked them from using higher rates to pay off their old property tax bill. The Federal Energy Regulatory Commission said the pipeline owners — primarily BP, ExxonMobil and ConocoPhillips — can’t use higher ...

Read More »

Low oil and gas prices mean a daily struggle

FARMINGTON — This year has not been an easy one for local oil and gas companies and those providing support services. It’s been a year of layoffs and cutbacks without any change predicted for the immediate future. In April, ConocoPhillips announced local layoffs, followed by similar announcements from local yards like Halliburton on Main Street, and, most recently, Baker Hughes ...

Read More »

Oil companies lose pipeline case that could be worth hundreds of millions to Alaska

A federal agency has ruled that the oil-company owners of the trans-Alaska pipeline had so badly managed an upgrade project, they can’t recover their costs by charging higher fees for moving oil, a decision that could save the state and independent producers hundreds of millions of dollars over the life of the pipeline. The “imprudently” managed project to update four ...

Read More »

Independents win big acreages in Alaska’s North Slope lease sale

Some people in industry still have a lot of faith in the North Slope, even with crude oil prices skidding. Independent companies bid aggressively for acreage Dec. 18 in the state’s North Slope “area-wide” sale, acquiring acreage at rock-bottom prices. The bulk of the offers were rock-bottom bids but with the exception of two high bids by Denver-based Armstrong Oil ...

Read More »

Alaska completes $65 million buyout of TransCanada in LNG project

The state on Tuesday completed the buyout of TransCanada’s interest in the Alaska LNG project, a $65 million expense that gives Alaska the same stake in the $55 billion effort as ExxonMobil, BP and ConocoPhillips. Gov. Bill Walker hailed the move as “historic,” calling the gas line project the best “get-well card” for a state facing a $3.5 billion deficit. ...

Read More »

Stein’s law says oil prices will rise: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – “If something cannot go on forever, it will stop,” according to Herbert Stein, former chief economist to U.S. President Richard Nixon (“What I think: essays on economics, politics and life” 1998). Stein’s law is one of the most simple but important statements in economic theory, ...

Read More »

ConocoPhillips approves $900 million project in National Petroleum Reserve-Alaska

ConocoPhillips has approved funding for its Greater Mooses Tooth development on Alaska’s North Slope, a $900 million project expected to yield 30,000 barrels of oil daily at its peak. Production is expected to begin in 2018 at the field in the National Petroleum Reserve-Alaska, an Indiana-sized Arctic reserve. Production at the field would be the first time oil has flowed ...

Read More »

Alaska governor’s campaign promise sets up clash with industry, Legislature

JUNEAU — Alaska’s big oil producers and the state Legislature are objecting to new rules requested by Gov. Bill Walker aimed at opening the state’s natural gas pipeline project to more public scrutiny. Alaska is working on the proposed $55 billion project with oil producers ExxonMobil, ConocoPhillips and BP, as well as pipeline company TransCanada. Legislation passed by the Republican-led ...

Read More »

Conoco posts quarterly loss, cuts 2015 spending target

ConocoPhillips to cut spending due to falling oil prices

ConocoPhillips reported a third-quarter loss on Thursday, and the largest U.S. independent oil company lowered its 2015 spending target in response to the lingering slump in crude prices. The Houston-based company said it would divest assets and lower its cost structure in response to the more than 50 percent slide in crude oil prices from last year’s high of more ...

Read More »