Latest fracking news

  • Oil Find Near Gatwick 'Clarified' By Owner
    Oil Find Near Gatwick 'Clarified' By Owner Wed, Apr 15, 2015

    The company which reported a massive upgrade to an oil find near Gatwick Airport has conceded it was not in a position to properly size it up. Last week's announcement that up to 100 billion barrels, a potentially "world-class" discovery, had been identified in the Weald Basin sparked excitement and scepticism. Shares in UK Oil & Gas Investments (UKOG) rose by more than 300% at one stage following its original statement last Thursday. More »

  • Greens Vow To Roll Back NHS Privatisation
    Greens Vow To Roll Back NHS Privatisation Tue, Apr 14, 2015

    The Green Party has pledged to end privatisation in the NHS and re-nationalise the railways in its manifesto. The party also vowed to ban fracking, stop airport expansion and halt major road schemes, while promising cash for energy efficiency measures and flood defences. Party leader Natalie Bennett told activists at the heart of the manifesto was "a vision for a fair economy". More »

  • Ex-BP Boss Browne Quits Riverstone Board
    Ex-BP Boss Browne Quits Riverstone Board Tue, Apr 14, 2015

    Lord Browne, the former BP chief executive, will on Tuesday resign from his only directorship of a UK public company as he focuses on turning a Russian-backed vehicle into a global energy giant. Sky News understands that Riverstone Energy, which is listed on the London Stock Exchange, is planning to announce Lord Browne’s departure from its board. His exit will come weeks after he agreed to become executive chairman of L1 Energy, a $10bn venture established by Mikhail Fridman and German Khan, two of the billionaire businessmen with whom BP went into partnership while Lord Browne ran Britain’s second-biggest oil company. Lord Browne’s reshuffling of his business portfolio comes as capital-rich global investors target an array of opportunities thrown up by the slump in oil prices. More »

  • Venezuela's president sees no recovery in oil prices this year Tue, Apr 14, 2015

    Venezuela President Nicolas Maduro said on Monday night there is no recovery in oil prices forecast this year, blaming fracking in the United States for the tumble in the value of the OPEC country's top export. "This year there's no recovery in oil prices forecast. More »

  • 100 billion barrels of oil in ground near London Gatwick: firm
    100 billion barrels of oil in ground near London Gatwick: firm Thu, Apr 9, 2015

    An oil exploration firm said Thursday that it had discovered 100 billion barrels of oil in the ground next to Gatwick Airport outside London. More »

  • Gatwick Oil Find: Questions And Answers
    Gatwick Oil Find: Questions And Answers Thu, Apr 9, 2015

    An exploration firm has announced the discovery of billions of barrels of oil reserves at a site near Gatwick airport. How does this compare with North Sea oil production? More »

  • US is world's largest oil & gas producer in 2014
    US is world's largest oil & gas producer in 2014 Tue, Apr 7, 2015

    The United States expanded its lead as the world's largest producer of oil and natural gas last year as output from fracking fields surged, the US Department of Energy reported Tuesday More »

  • Safety fears over fracking checks
    Safety fears over fracking checks Sun, Apr 5, 2015

    Anti-fracking campaigners have accused the shale industry of wanting companies "to be allowed to mark their own homework" by suggesting independent checks on wells could be done in-house. More »

  • UKIP's Farage Faces Battle To Win Kent Seat
    UKIP's Farage Faces Battle To Win Kent Seat Sat, Apr 4, 2015

    "It's 10% Nige", "oh that's much too strong for me" suggests Nigel Farage as he decides what pint to drink next. We are in Margate, with an all too familiar scene, the UKIP leader, pint of British Bulldog in hand, canvassing voters. On his first full day of campaigning in the constituency he hopes to win, South Thanet, Mr Farage has unsurprisingly turned up at a beer festival in the seaside resort. Mr Farage said: "Clearly any party leader can't spend as much time in one constituency as someone standing without office. More »

  • Exclusive - California used 70 mln gallons of water in fracking in 2014
    Exclusive - California used 70 mln gallons of water in fracking in 2014 Fri, Apr 3, 2015

    By Rory Carroll SAN FRANCISCO (Reuters) - California oil producers used 214 acre-feet of water, equivalent to nearly 70 million gallons, in the process of fracking for oil and gas in the state last year, less than previously projected, state officials told Reuters on Thursday. Hydraulic fracturing, or fracking, occurs when water and some chemicals are injected deep underground at high pressure to break up rock and release oil and gas into wells. The practice has been criticized in the state, which is suffering from a drought so severe that Governor Jerry Brown announced the first-ever mandatory 25 percent statewide reduction in water use on Wednesday. “Hydraulic fracturing uses a relatively small amount of water – the equivalent of 514 households annually,” said Steven Bohlen, the state oil and gas supervisor. More »

  • Leaders' debate: Nicola Sturgeon surges to victory in historic TV showd …
    Leaders' debate: Nicola Sturgeon surges to victory in historic TV showd … Thu, Apr 2, 2015

    The First Minister of Scotland Nicola Sturgeon secured a major pre-election victory by winning the TV leaders' debate tonight. An average of three snap surveys (ICM, YouGov and ComRes) after the two-hour long debate in Salford showed that the SNP leader had beaten David Cameron to poll position (22% vs 21%). The research also revealed that Labour leader Ed Miliband and Ukip firebrand Nigel Farage drew for third place as both garnered 20% of the vote. More »

  • California unveils historic water restrictions over drought crisis
    California unveils historic water restrictions over drought crisis Wed, Apr 1, 2015

    California announced sweeping statewide water restrictions for the first time in history Wednesday in order to combat the region's devastating drought, the worst since records began. More »

  • Germany restricts fracking but doesn't ban it
    Germany restricts fracking but doesn't ban it Wed, Apr 1, 2015

    Environmentalists demonstrate in front of the Chancellery in Berlin on April 1, 2015 More »

  • Analysis - Once-bullish fund managers start to capitulate on oil prices
    Analysis - Once-bullish fund managers start to capitulate on oil prices Sun, Mar 29, 2015

    By David Randall NEW YORK (Reuters) - Last fall, when the price of oil started dropping, fund manager Craig Hodges figured crude would rebound in 2015 and began buying shares of companies he thought would be unfairly hit, including construction company Primoris Services Corp and Eagle Materials Inc, which produces sand used in fracked wells.     Hodges, who runs the $2.1 billion Hodges Small Cap fund, is now starting to concede that oil prices will stay low for as long as a year or more because of a global glut. It could be two or three years before oil goes back above $70 a barrel, he said.     While his fund is top-loaded with companies like American Airlines Group Inc and affordable footwear retailer Shoe Carnival Inc that are benefiting from cheap gas prices, he is also buying stakes in companies such as Matador Resources Co - an energy company that has been using the slow market to negotiate lower-priced contracts with its suppliers to lower costs. More »

  • Fracking regulator urged in report
    Fracking regulator urged in report Wed, Mar 25, 2015

    A new UK regulator for onshore underground energy should be established to give the public more confidence in the fledgling shale gas industry, a task force has recommended. More »

  • Shell pulls back from shale in South Africa
    Shell pulls back from shale in South Africa Mon, Mar 16, 2015

    Royal Dutch Shell is pulling back from its shale projects in South Africa due to lower energy prices and delays in obtaining an exploration licence for the onshore Karoo Basin, it said on Monday. A more than halving of crude oil prices since June has put high cost projects such as shale gas exploration in jeopardy around the globe, and Shell South Africa said waiting six years for a licence for Karoo had not helped. Chairman Bonang Mohale, who said the company was going to a "low cost holding position", told Reuters oil prices would need to be between $60 to $80 a barrel and South Africa would need to present "excellent commercial terms" for the company to resume its operations. An estimate by the U.S. Energy Information Administration, gives South Africa the world's eighth biggest shale reserves, with the potential to transform an economy that has always been a big oil and gas importer. More »

  • 5,000 join climate change protest
    5,000 join climate change protest Sat, Mar 7, 2015

    More than 5,000 protesters gathered outside Parliament in London calling on the Government to take tougher action on climate change. More »

  • Memo to John Major: If you want to know why the SNP are winning, just look in …
    Memo to John Major: If you want to know why the SNP are winning, just look in … Sat, Mar 7, 2015

    So what are we to make of John Major suddenly crawling out of the woodwork to have a good old rant about these ghastly, uppity Jocks who dare to presume that their votes in May should have some kind of impact on how their country is run? The first thing to say is that I'm genuinely stunned to learn that he apparently doesn't spend each and every day thanking his lucky stars that Scotland is a nation of almost saintly patience and restraint. As prime minister in 1992, he fought a general election north of the border on a platform of maintaining direct rule from London – and not only was he defeated, he was utterly humiliated. Quality of votes matter more than quantity if you're a Tory leader fighting elections in Scotland – or at least we must assume that's the case, because it's very hard to see any other way in which victory for the party's preferred constitutional model could have been claimed on the basis of securing just 26% of the vote, and 11 out of 72 parliamentary seats. More »

  • Voter anger 'like Thatcher days'
    Voter anger 'like Thatcher days' Fri, Mar 6, 2015

    David Cameron's Government is stoking up the kind of anger among voters not seen since Margaret Thatcher's days, Plaid Cymru leader Leanne Wood has said. More »

  • Bells toll for Europe's largest gas field Sun, Mar 1, 2015

    By Toby Sterling WESTERWIJTWERD, Netherlands (Reuters) - Dutch church bells that for centuries have tolled to warn of floods across the low-lying countryside are sounding the alarm for a new threat: earthquakes linked to Europe's largest natural gas field. "Money can buy a lot of things, but a building like this cannot be replaced," said Jur Bekooy, a civil engineer with the Groningen Old Churches Association, pointing to cracks in the ceiling and walls of the 13th-century Maria Church in the village of Westerwijtwerd. It accused the government and the field's operators, Royal Dutch Shell and Exxon Mobil Corp , of ignoring the threat of earthquakes linked to the massive Groningen gas field for years. There are now questions about the future exploitation of the field that lies under the northern province of Groningen, with implications that reach well beyond its significance for Dutch state coffers. More »

  • UK government pledges more powers for Wales as devolution debate rumbles on
    UK government pledges more powers for Wales as devolution debate rumbles on Fri, Feb 27, 2015

    By Kylie MacLellan LONDON (Reuters) - Britain set out plans on Friday to give Wales greater powers, including to issue bonds and control fracking licences, in a further step to dismantle its centralised system of government. With just over two months until a national election, the issue of devolution to the United Kingdom's constituent parts has risen to the fore after a last-ditch promise to hand more powers to Scotland helped swing a close referendum in September. "We are delivering on devolution in every part of the UK," Prime Minister David Cameron said on Friday. Wales, like Scotland and Northern Ireland, elects representatives for its own regional body as well as for the Westminster parliament. More »

  • Insight: U.S. shale oil's crash diet likely to bring forward output dip Mon, Feb 23, 2015

    By Anna Driver and Terry Wade HOUSTON (Reuters) - Shale oil producers are throttling back so quickly on drilling that U.S. crude output could fall sooner than expected, within months, executives say as they slash costs to cope with tumbling crude prices and compete with Persian Gulf rivals. The wells that drove the U.S. energy boom of the last decade rapidly deplete, so overall output will fall unless new holes are constantly bored and oil extracted via hydraulic fracturing, or fracking. "The thing that has surprised me ... is that companies large and small, financially strong, financially weak have really cut capital spending much quicker than I have seen before," said Bruce Vincent, who retired as CEO of Swift Energy Co this month after 40 years in the industry. More »