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Kentucky Will Not Seek Money From Oil Company Scam

June 2, 2014 11:26 am | by BRETT BARROUQUERE, Associated Press | News | Comments

Kentucky is not seeking to collect a $20 million judgment the state won in court from a now-bankrupt oil company found to have bilked its customers in a drilling scam.                           

Marathon Oil Selling Norway Business For $2.7B

June 2, 2014 11:15 am | by Associated Press | News | Comments

Marathon Oil is selling its Norwegian business to Det Norske Oljeselskap ASA in a deal valued at about $2.7 billion as it streamlines operations and hones its focus on the U.S.                            

North Carolina House Gives Initial Fracking Approval

May 29, 2014 10:33 am | by MICHAEL BIESECKER, Associated Press | News | Comments

North Carolina lawmakers have given preliminary approval to a measure that would allow fracking for natural gas to begin in the state next year.                                                  


Exxon: Sanctions Not Hurting Operations In Russia

May 29, 2014 10:17 am | by DAVID KOENIG, AP Business Writer | News | Comments

U.S. sanctions over Russia's annexation of Crimea have targeted close associates of Russian President Vladimir Putin, including the president of Russia's largest oil company, Rosneft, but not the company itself. Exxon has an exploration and production agreement with Rosneft in the Russian arctic and Siberia.

Texas: Contaminated Water Not Linked To Drilling

May 29, 2014 10:13 am | by RAMIT PLUSHNICK-MASTI, EMILY SCHMALL, Associated Press | News | Comments

The amount of explosive gas tainting a North Texas neighborhood's water supply has increased in recent years, but the state's oil and gas regulator says it can't link the methane to drilling activity nearby, according to a report it released yesterday.

4 Injured, 1 Missing After Oil Tanker Explosion

May 29, 2014 10:12 am | by Associated Press | News | Comments

A Japanese oil tanker exploded off the country's southwest coast near Himeji port, leaving one of the eight people aboard missing, the coast guard said. Four others were severely injured.                              

U.S. Petroleum Product Exports To Mexico Rise

May 28, 2014 10:44 am | by U.S. Energy Information Administration | News | Comments

In 2013, the United States exported 527,000 bbl/d of petroleum products to Mexico, including motor gasoline, distillate fuel oil, and liquefied petroleum gases.                                      

KBR Wins Maersk Oil FEED Contract

May 28, 2014 10:33 am | by ERIC TUCKER, Associated Press | News | Comments

KBR has announced that it has been awarded a contract by Maersk Oil for topsides front end engineering and design (FEED) for the Culzean Project. Maersk Oil UK and its co-venturers JX Nippon Exploration and Production (UK) Limited and Britoil (BP) have chosen a new standalone facility to develop the Culzean discovery.


Koch Industries Buys PetroLogistics For $2.1B

May 28, 2014 10:28 am | by Associated Press | News | Comments

Koch Industries is buying PetroLogistics in a deal valued at approximately $2.1 billion, including debt. PetroLogistics makes propylene, a widely used building block material that goes into everything from paint and building materials to clothing and automotive parts.

Vireol Ethanol Up And Running

May 27, 2014 11:05 am | by Associated Press | News | Comments

An ethanol plant in Hopewell that sat idle since 2010 has begun operations under its new owner.                                         

Illinois House Panel Approves Fracking Rules

May 27, 2014 11:04 am | by Associated Press | News | Comments

A House committee has approved a plan to speed up hydraulic fracturing for oil and gas in Illinois. The Executive Committee voted 7-4 Monday to advance the plan by Rep. John Bradley despite protests from environmentalists.                 

New Safety Requirements Set For Keystone Pipeline

May 27, 2014 11:01 am | by JOAN LOWY, Associated Press | News | Comments

Safety regulators have quietly placed two extra conditions on construction of the Keystone XL oil pipeline after learning of potentially dangerous construction defects involving the southern leg of the Canada-to-Texas project.              

Activists Protest Two Arctic Drilling Rigs

May 27, 2014 10:58 am | by Nikita Ernst, Associate Editor | News | Comments

Greenpeace says activists have boarded two offshore drilling rigs in a protest against oil and gas exploration in Arctic waters.                                            


Concerns Abound Over Increased West Coast Oil Trains

May 27, 2014 10:53 am | by GOSIA WOZNIACKA, Associated Press | News | Comments

Residents along the scenic Columbia River are hoping to persuade regulators to reject plans for what would be the Pacific Northwest's largest crude oil train terminal — the proposed destination for at least four trains a day, each more than a mile long.      

Gulf LNG Begins Pre-Filing Review With FERC

May 23, 2014 10:24 am | by Associated Press | News | Comments

Gulf LNG Liquefaction Co. is compiling data to support an application to the Federal Energy Regulatory Commission to add liquefaction and export capabilities to its $1 billion liquefied natural gas storage terminal in Pascagoula.

Oklahoma House Approves Drilling Tax Incentive

May 22, 2014 5:06 pm | by Associated Press | News | Comments

The Oklahoma House has approved a bill to adjust and make permanent a generous tax incentive for oil and gas production in the state.                                   

North Carolina Approves Granting Fracking Permits For 2015

May 22, 2014 10:44 am | by GARY D. ROBERTSON, Associated Press | News | Comments

The state Senate tentatively agreed Wednesday to push to the finish line prep work for natural gas exploration in North Carolina using hydraulic fracturing — better known as fracking — so that the first permits for drilling could be issued starting next summer.

Cyprus As A New Global Gas Hub

May 22, 2014 10:41 am | by Associated Press | News | Comments

U.S. Vice President Joe Biden says Cyprus's newly found offshore natural gas reserves can transform the eastern Mediterranean into a "global hub" for the fossil fuel.                      

Algeria Authorizes Shale Exploitation

May 22, 2014 10:34 am | by Associated Press | News | Comments

Algeria's Cabinet has announced it will move forward with the exploitation of the country's large shale gas reserves.                                          

North Dakota Restricts Gas Flaring

May 22, 2014 10:23 am | by JOSH WOOD, Associated Press | News | Comments

Gov. Jack Dalrymple told a huge oil industry conference Wednesday that North Dakota would no longer allow flaring of natural gas from oil wells in the Bakken region for longer than one year.                       

Marathon Petroleum Acquires Hess Stations For $2.87B

May 22, 2014 10:20 am | by Associated Press | News | Comments

Marathon Petroleum will spend $2.87 billion to acquire the retail operations of Hess, the largest chain of company operated gas stations and convenience stores on the East Coast.                    

Future Of Crude By Rail Depends On Safety

May 22, 2014 10:18 am | by JAMES MacPHERSON, Associated Press | News | Comments

The future of crude oil shipments by train depends on proving to the public that it can be done safely, the head of BNSF Railway Co. said Wednesday.                           

U.S. Firms Give $2B Oil Loan To Venezuela

May 22, 2014 10:14 am | by Associated Press | News | Comments

Venezuela's state oil company PDVSA has secured a $2 billion credit line from several energy service companies, including U.S.-based Halliburton and Schlumberger.                                 

China Signs 30 Year Deal For Russian Gas

May 21, 2014 10:52 am | by LOUISE WATT, VLADIMIR ISACHENKOV, Associated Press | News | Comments

China signed a landmark deal to buy Russian natural gas worth about $400 billion, giving a boost to diplomatically isolated President Vladimir Putin and expanding Moscow's ties with Asia.                       

North Carolina Fast Tracks Fracking Legislation

May 21, 2014 10:50 am | by MICHAEL BIESECKER, Associated Press | News | Comments

A bill that would make it a crime to publicly disclose the secret chemical mixtures that energy companies pump into the ground when fracking for natural gas is headed for a vote before the North Carolina Senate.            

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