Levant LNG Marketing, a unit of Pangea LNG BV, has concluded a cost-sharing agreement with Israel’s Tamar Partners, Tel Aviv, that marks progress toward the export of LNG from Tamar and Dalit fields 60 miles off Israel in the Levantine basin.

Thirteen companies submitted bids for 116 of 3,873 blocks offered in the Nov. 28 Western Gulf of Mexico Lease Sale 229 in New Orleans.

A coalition of 33 national, regional, and state oil and gas associations expressed concern to leaders of two key congressional committees over the possible elimination or restriction of the federal tax deduction for intangible drilling costs.

Policies to restrict carbon emissions potentially could inhibit significant production growth from US shale gas formations, an expert warned.

Oil prices continued falling Nov. 28, with front-month crude down 0.8% on demand concerns, its third decline in as many sessions on the New York market, despite upbeat statements by US House Speaker John Boehner and President Barack Obama of a possible budget agreement in the near future.