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Sarah Palin Defends Her Oil Tax Structure

May 9, 2014 11:42 am | by BECKY BOHRER, Associated Press | News | Comments

Former Alaska Gov. Sarah Palin defended as fair and common sense the oil tax structure she championed while in office, a system that has been dismantled by state lawmakers and her successor, fellow Republican Sean Parnell.                   

Exxon Mobil Corporation (NYSE:XOM) expects to start production at a record 10 major projects in 2014, adding new capacity of approximately 300,000 net oil equivalent barrels per day and contributing to profitable production growth

ExxonMobil Donates To Tornado Recovery Effort

May 9, 2014 11:39 am | by CHRISTINA HUYNH, Associated Press | News | Comments

ExxonMobil has donated $250,000 to aid recovery efforts in the state from last week's severe storms that included a deadly tornado.                                      

BNSF plans to upgrade tanker fleet after accidents  MATTHEW BROWN, Associated Press   BILLINGS, Montana (AP) — BNSF Railway Co. said Thursday it intends to buy a fleet of 5,000 strengthened tank cars to haul oil and ethanol in a move that would set a high

Railroad: Emergency Order Will Not Affect Oil Shipments

May 9, 2014 11:35 am | by JAMES MacPHERSON, Associated Press | News | Comments

The main railroad moving crude oil out of the rich Bakken formation in North Dakota and Montana said a new federal emergency order on rail shipments will not affect shipments.                             

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Fracking Well Leaks Into Creek

May 8, 2014 10:58 am | by Associated Press | News | Comments

State and federal teams are still cleaning up after a shale well being drilled for fracking in southeast Ohio began leaking and the oily fluid ran into a nearby creek.                   

Keystone Pipeline Hopes Fade

May 8, 2014 10:56 am | by MATTHEW DALY, Associated Press | News | Comments

A bid by supporters of the proposed Keystone XL oil pipeline to force a vote on the controversial project fell apart Wednesday amid partisan bickering over how the vote should be conducted.                                     

Emergency Order Issued For Crude Oil Trains

May 8, 2014 10:51 am | by JOAN LOWY, Associated Press | News | Comments

The Transportation Department issued an emergency order requiring that railroads inform state emergency management officials about the movement of large shipments of crude oil through their states and urged shippers not to use older model tanks cars that are easily ruptured in accidents, even at slow speeds.

Connecticut Bans Fracking Waste Storage

May 8, 2014 10:48 am | by STEPHEN SINGER, Associated Press. | News | Comments

A last-minute tussle over eel fishing in Connecticut interfered briefly with legislation that overwhelmingly passed the House of Representatives halting the storage and disposal of waste from gas exploration.                          

Texas City Contemplates Fracking Ban

May 8, 2014 10:44 am | by EMILY SCHMALL, Associated Press | News | Comments

A North Texas city that sits on top of the Barnett Shale, believed to hold one of the largest natural gas reserves in the U.S., could become the first area in the state to permanently ban hydraulic fracturing.                         

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Weigh In On Natural Gas & Oil Production Survey

May 8, 2014 10:27 am | by U.S. Energy Information Administration | News | Comments

As a result of the rapid growth and shifting location of U.S. natural gas and crude oil production, the U.S. Energy Information Administration (EIA) is proposing expanding the geographic coverage of its current monthly natural gas production survey and adding collection of state-level data on crude oil and lease condensate production.

Connecticut Reaches Deal On Fracking Waste Bill

May 7, 2014 11:01 am | by SUSAN HAIGH, Associated Press | News | Comments

Connecticut's Senate endorsed a bipartisan compromise on how to handle the possibility of waste coming to Connecticut from hydraulic fracturing operations in other states.                                

Freeport-McMoRan Sells Eagle Ford Assets For $3.1B

May 7, 2014 10:45 am | by Associated Press | News | Comments

Freeport has been working on selling about $4 billion of its energy assets to help reduce debt and allow it to concentrate more on growth areas like the Gulf of Mexico.                      

Oil & Gas Spending Encourages Exploration & Development

May 7, 2014 9:54 am | by U.S. Energy Information Administration | News | Comments

Annual reports from 42 oil and natural gas companies that have reported data on upstream expenditures since 2000 show that spending on exploration and development throughout the world increased by 5% ($18 billion) in 2013, while spending on property acquisition fell by $17 billion. 

Striking Oil On Campus

May 5, 2014 2:42 pm | by Associated Press | News | Comments

A contractor has struck oil at Indiana State University's campus, but it could be a while before school officials know how much it is worth.                                 

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Side Effects Of The Fracking Boom

May 5, 2014 2:38 pm | by JONATHAN FAHEY, KEVIN BEGOS, Associated Press | News | Comments

Booming production of oil and natural gas has exacted a little-known price on some of the nation's roads, contributing to a spike in traffic fatalities in states where many streets and highways are choked with large trucks and heavy drilling equipment.

Exxon Mobil Corporation (NYSE:XOM) expects to start production at a record 10 major projects in 2014, adding new capacity of approximately 300,000 net oil equivalent barrels per day and contributing to profitable production growth

ExxonMobil Ahead Of Schedule At PNG LNG Project

May 5, 2014 2:28 pm | by ExxonMobil | News | Comments

Exxon Mobil Corporation announced the $19 billion PNG LNG project has started producing liquefied natural gas (LNG) in Papua New Guinea ahead of schedule.                            

Royal Dutch Shell said Friday it is selling its Australian gasoline stations and refinery to energy trader Vitol Group for 2.9 billion Australian dollars ($2.6 billion).

Shell Considers Huge Build In Pennsylvania

May 5, 2014 10:33 am | by Associated Press | News | Comments

Zinc production has shut down at a western Pennsylvania site where Shell Oil Co. is considering building a high dollar petrochemical plant.                                 

Oil Dispute Erupts In The South China Sea

May 5, 2014 10:29 am | by CHRIS BRUMMITT, Associated Press | News | Comments

Vietnam demanded China stop oil drilling operations in a disputed patch of the South China Sea, saying on Monday that Beijing's decision to deploy a deep sea rig over the weekend was illegal.                 

Train Derailment Cause Still Unknown

May 5, 2014 10:15 am | by ALAN SUDERMAN, LARRY O'DELL, Associated Press | News | Comments

Early reviews found no human error or mechanical failure that could have caused a fiery derailment of an oil train in downtown Lynchburg, Virginia, the National Transportation Safety Board said Friday.                

Chevron Profit Plunges

May 2, 2014 10:53 am | by Associated Press | News | Comments

Chevron Corp. says its net income fell 27 percent in the first quarter because of lower global oil prices and decreased production of oil as a result of bad weather.                      

Train Crash Heightens Concerns

May 2, 2014 10:48 am | by ALAN SUDERMAN, LARRY O'DELL, Associated Press | News | Comments

Across the state on the same rail line where a train loaded with highly combustible crude oil derailed, a fire chief sees the potential for a nightmare scenario: A blaze his crews don't have the means to put out, threatening a colonial-era tourist attraction and one of the nation's oldest institutions of higher learning.

Get The Facts On The Virginia Train Derailment

May 2, 2014 10:35 am | by Associated Press | News | Comments

The Lynchburg train derailment and fire comes amid a surge in domestic oil drilling that has prompted oil companies to move increasing amounts of crude by rail over the past several years.                     

Gas Production Halts At North Pole Refinery

May 2, 2014 10:31 am | by Associated Press | News | Comments

Flint Hills announced in February that it would close the facility because of the high costs of doing business in Alaska and its ongoing obligations from a chemical spill that has affected local water supplies.          

Crude Shipper Switches To Safer Tankers

May 1, 2014 10:50 am | by Associated Press | News | Comments

Fuel shipping company Global Partners will require tanker cars to meet with updated standards for all crude oil trains arriving at its East and West Coast terminals, starting in upstate New York and Oregon, the company announced Wednesday.

Exxon Earnings Slip

May 1, 2014 10:48 am | by JONATHAN FAHEY, AP Energy Writer | News | Comments

Exxon Mobil said Thursday that its net income fell 4 percent in the fourth quarter as it produced less oil and natural gas and posted weaker refining results.                          

FERC Weighs In On Cameron LNG

May 1, 2014 10:41 am | by Associated Press | News | Comments

A proposed liquefied natural gas export terminal in Cameron Parish would not significantly damage the environment, the Federal Energy Regulatory Commission staff said Wednesday. The conclusion also applies to 21 miles of pipeline and associated facilities proposed for Cameron, Calcasieu and Beauregard parishes.               

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