OVERNIGHT ENERGY: Gas export battle rages despite positive report

The Houston Chronicle, in a story Thursday, reports that manufacturing and chemical companies are “stepping up pressure on the Obama administration to limit exports” of natural gas.

Stay tuned.


Check out these stories that ran on E2-Wire Thursday ...

— GOP taps gas lobbyist for energy job
— Top GOP aide predicts bipartisan energy efficiency bill next Congress
— Federal energy commission chief says regulator will 'go after anybody'
Gore to Obama: Talk is cheap on climate


Report: U.S. to extend Iran sanction waivers

The State Department likely will not impose financial sanctions against India, South Korea, Turkey and other nations — at least, for now — because they reduced Iranian oil imports, Reuters reported Thursday.

State can cut foreign nations’ banks off from the U.S. financial system if they continue to buy Iranian oil, but the U.S. waives the sanctions for countries that curb imports.

The goal is to deplete Iranian revenues so it cannot fund its nuclear program. The U.S. believes Iran is enriching uranium to develop nuclear weapons. Iran says the program is for electric generation and medical reasons.

From Reuters:

U.S. and EU sanctions on Tehran's oil exports have choked off revenue for Iran's economy, but it is unclear if they will lead to a slowdown or end to the nuclear program.

The Islamic Republic's oil shipments have been reduced by more than half this year. Its monthly crude exports are expected to decline by about a quarter in December to the lowest level since U.S. and EU sanctions were applied this year, shipping sources have said.

Federal energy royalties rise $1 billion

Energy development on federal lands yielded $12.1 billion in royalties in fiscal 2012, the Interior Department said Thursday.

Those payments go to states, the Treasury, Native American tribes and special program accounts such as the Land and Water Conservation Fund.

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Interior said the payout was a $1 billion increase compared with last year.

BP exec seeks trial delay for 2010 spill

A former BP executive is pushing for a delay in his criminal trial regarding the firm’s 2010 Gulf of Mexico oil spill.

David Rainey, BP’s former vice president of exploration for the Gulf of Mexico, is being charged with obstruction of Congress for comments he made about the amount of oil that spilled into the Gulf.

His lawyer wrote in a filing Thursday with the federal court in New Orleans that Rainey needs more time to prepare, saying, “[T]he volume of discovery will be substantial.”

The Houston Chronicle has more on the story here.

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