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WASHINGTON, Feb 28 (Reuters) - A U.S. Department of the Interior committee voted on Wednesday to recommend to Secretary Ryan Zinke that the agency lower royalty rates for federal offshore oil and gas drilling to 12.5 percent from 18.75 percent through 2024, to spur more production.
US crude oil oil rig flanges gulf coast production shattered a 47-year output record in November and retreated slightly in December, the US Energy Department said.
Market activity will increase in 2018, according to John Lechner, chief executive officer of oil services BOP Blow Out Preventer repair company gulf coast Archer.
Saudi Arabia will not substantially increase its oil output over the next 2-3 years if the OPEC oil rig flanges gulf coast production cut agreement is not extended, say analysts at BMI Research.
The United States will overtake Russia as the world's biggest oil producer by 2019 at the latest, the International Energy Agency says.
As the BOP Blow Out Preventer repair company gulf coast restructures, SandRidge Energy has determined a need for staff reductions at its headquarters.
Big Corn, Big Oil Square Off In White House Biofuels Meeting | Gulf Coast Oil Rig Equipment & Repair
President Trump will gather with senators and Cabinet officials to discuss ways to lower the cost of the nation's biofuels policy to refiners.
The United States will overtake Russia as the world's biggest oil producer by 2019 at the latest, the International Energy Agency says.
Crude slipped after an industry report was said to show an increase in US crude stockpiles.
(Bloomberg) -- Crude slipped after an industry report was said to show an increase in U.S.
Trade group reports state, local governments garnered approximately 17% more year-on-year in taxes, royalties.
The Texas oil and natural gas industry paid slightly more than $11 billion in state and local taxes and state royalties in fiscal year 2017, the Texas Oil & Gas Association (TXOGA) reported Tuesday.
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