U.S. denies Exxon’s request to drill in Russia
Monday, May 1, 2017
The federal government recently denied a request from Exxon Mobil to waive United States sanctions against Russia, allowing it to resume oil drilling near the Black Sea, according to Power Source. The decision was delivered just two days after Exxon was reported seeking a waiver to resume a joint venture with Rosneft, a Russian-owned company.
Exxon said it filed the request in 2015. It also said it understood the Trump administration’s decision, but suggested it could help European oil companies operating under fewer restrictions.
In regulatory filings, Exxon has said the sanctions could lead to losses of up to $1 billion.
Learn more: Power Source > U.S. Treasury rejects Exxon Mobil request to drill in Russia
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Marcellus & Utica Shale Well Map
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.