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Conventional role still seen in gas supply

CALGARY, Alberta Conventional natural gas won't disappear from the North American supply picture as production from shale formations grows exponentially, as expected, in coming years, industry officials said this week.

Obama tax plans draw ire of energy companies

HOUSTON The Obama administration's plan to do away with billions in tax breaks for U.S. oil and natural gas companies faces a tough and expensive fight from the industry, which says the proposals would threaten energy security and raise costs for everyone.

Energy execs worry oil rise just mood swing

HOUSTON A broad consensus about the need for oil prices to rise over time is not reassuring energy experts, who worry that the recent rally is driven simply by an improving "mood," and therefore very fragile.

Energy firms expanding, but cautious over risks

SINGAPORE Energy companies are planning expansions to capture a bigger slice of future growth, looking past gloomy months on hopes the worst of the economic crisis is past, industry executives said this week.

Devon CEO sees gas rebalance in 2010

HOUSTON The chief executive of Devon Energy Corp said he expected the U.S. natural gas market to rebalance in 2010 when a steep decline in drilling meets demand muted by the recession.

Higher prices needed for oil investment

LONDON Oil prices need to be higher, costs lower and credit easier to revive exploration and development of oil and gas projects that have been hit hard by global economic downturn, industry officials said this week.


Clean energy depends on wider economy growth

LONDON Clean energy has strong guaranteed government backing in long-term subsidies but its future growth hinges on wider economic recovery and European targets are in doubt, senior energy executives told Reuters Energy Summit.


Apache sees more industry pain to come

HOUSTON Oil and gas producers need costs to drop further before they invest in new projects, and their strained budgets will push companies to put assets up for sale, Apache Corp Chief Executive Steve Farris said on Thursday.

World oil industry anxious about U.S. regulation

NEW YORK Uncertainty around a wide-sweeping array of green energy and anti-speculation rules proposed by U.S. President Barack Obama's administration has put the world oil industry on tenterhooks.


Spears oilfield services outlook dim

HOUSTON The 2009 outlook for the oilfield service industry is much worse than expected as companies are hit hard by the steep decline in drilling, especially onshore in the United States, according to consulting firm Spears & Associates Inc.


U.S. climate bill no boon for power industry: EIX

NEW YORK Utilities will not reap a windfall, as some environmental groups have complained, if the government hands them permits to emit greenhouse gases under U.S. climate legislation, the top executive of Edison International said on Thursday.


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