Advertisement
Oil / Natural Gas
Subscribe to Oil / Natural Gas
View Sample

FREE Email Newsletter

Coal Residue Vaults Found In Upper Peninsula

November 18, 2014 11:11 am | by Ryan Jarvi, The Mining Journal (Marquette) | News | Comments

Two concrete vaults used to store tar residue and other impurities from a manufactured gas plant more than 100 years ago were recently found buried underground just north of the Shiras Steam Plant in south Marquette.      

Fracking To Be Permitted In GW National Forest

November 18, 2014 11:07 am | by Brock Vergakis, Associated Press | News | Comments

Over the objection of environmental groups and Virginia's governor, a federal management plan released Tuesday will allow a form of natural gas drilling known as fracking to occur in parts of the largest national forest on the East Coast.  

California Accuses BP Of Inflating Natural Gas Prices

November 17, 2014 9:57 am | by Ellen Knickmeyer, AP | News | Comments

BP and its traders routinely manipulated prices to overcharge California as much as $300 million when it sold natural gas to the state, California and a fired BP employee allege. The BP employee, who had helped administer $2 billion in exclusive gas contracts with California, filed the case as a whistleblower.

Advertisement

Halliburton Buying Baker Hughes For $34.6 Billion

November 17, 2014 8:57 am | News | Comments

Halliburton is buying rival oilfield services company Baker Hughes in a cash-and-stock deal worth $34.6 billion. The deal comes just days after talks had stalled and Halliburton prepared to go hostile with its takeover bid. The combined company would generate slightly larger revenue than Schlumberger Ltd., the world's biggest oil services company.

Judge Sticks To BP Gross Negligence Ruling

November 14, 2014 11:00 am | by Kevin McGill, AP | News | Comments

A federal judge in New Orleans is sticking to his ruling that said BP's conduct in the 2010 Gulf of Mexico oil rig disaster amounted to "gross negligence." It could mean close to $18 billion in federal penalties for the oil giant.         

Fracking Accident Leads To Fatality In Colorado

November 14, 2014 10:42 am | News | Comments

The three men were trying to heat a frozen high-pressure water line in below zero temperatures at the well site when it ruptured. One man was hit by a stream of water and died from the impact.                                          

2015 Could See U.S. Produce Most Oil In Over 40 Years

November 13, 2014 1:34 pm | News | Comments

However, there is significant uncertainty over the crude oil price forecast because of the range of potential supply responses from OPEC, particularly Saudi Arabia, as U.S oil producers project higher production levels that would drive prices down.

Rail Shipments Of Oil And Petroleum Continue To Rise

November 13, 2014 1:25 pm | News | Comments

According to the Energy Information Administration, U.S. rail transport of crude oil and petroleum products had the second-biggest increase in carloadings through the first 10 months of this year. In response to shipper concerns over their slow movement, federal regulators are closely tracking service among major freight railroads.

Advertisement

Illinois Lawsuit Targets Fracking Rules

November 13, 2014 12:34 pm | News | Comments

A group of Illinois landowners has sued the Department of Natural Resources to stop the state's new rules for high-volume oil and gas drilling from taking effect. The lawsuit seeks a preliminary injunction, claiming the DNR violated several rulemaking procedures.

U.S. Government: Get Used To Cheaper Gas

November 13, 2014 12:23 pm | by Jonathan Fahey, AP Energy Writer | News | Comments

Several factors are contributing to the Energy Department predicting that the average price of gasoline in the U.S. will be below $2.94 a gallon in 2015. If the sharply lower estimate holds true, U.S. consumers will save $61 billion on gas compared with this year.

Administrator Of Gulf Claims Survives BP's Attempt To Replace Him

November 11, 2014 11:47 am | by Kevin McGill, AP | News | Comments

BP lawyers had said Patrick Juneau should be removed for a variety of reasons, among them that he had a conflict of interest because he once represented Louisiana in talks setting up the claims process and had pushed for favorable terms for those with claims.

Shell Purchases Former Zinc Plant

November 10, 2014 11:24 am | News | Comments

Shell hasn't formally committed to building the plant, which would convert ethane from Marcellus Shale natural gas liquids into chemicals used to make plastics, tires and even antifreeze, so a timeline for the conversion and operational start remains undefined.

Closed-Door Meeting Covers Carolina Coastal Drilling

November 10, 2014 11:19 am | by Michael Biesecker, AP | News | Comments

Officials from North Carolina, South Carolina and Virginia met privately with federal regulators and groups funded by oil and gas companies to discuss plans for drilling off the Atlantic coast. A coalition of environmental groups were not allowed inside the meeting.

Advertisement

North Dakota Refinery Production Green-Lighted

November 10, 2014 11:05 am | News | Comments

The refinery will help meet the need for diesel fuel in the booming western oil patch. About 90 people will work there full time, turning 20,000 barrels of crude from the rich Bakken and Three Forks formations in western North Dakota into 7,000 barrels of fuel each day.

Shell Takes On New Mexico County Over Country's First Drilling Ban

November 7, 2014 11:53 am | News | Comments

Attorneys for SWEPI, a subsidiary of Shell, said the measure effectively destroyed the value of the company's $1 million drilling leases. Mora County wants a trial so it can present evidence on why the commission adopted the ordinance - to protect its land and water.

Sunoco Investing $2.5 Billion In Gas Pipeline

November 7, 2014 11:32 am | News | Comments

The 350-mile Mariner East 2 pipeline would provide four times the capacity to move gas from Marcellus Shale drilling sites in western Pennsylvania to its Marcus Hook storage and distribution facility near Philadelphia.          

Texas Voters Say No To Fracking - Energy Group Goes To Court

November 6, 2014 11:49 am | by Emily Schmall, AP | News | Comments

A North Texas city that sits atop a natural gas reserve is preparing for an extended court battle after voters made it the first in the state to ban further hydraulic fracturing. An industry group and the state's little-known but powerful General Land Office responded by seeking an injunction to stop it from being enforced. Battling the fracking ban will be Texas Land Commissioner-elect George P. Bush.

GOP Eager To Move On Keystone XL

November 6, 2014 11:23 am | by Donna Cassata, AP | News | Comments

Republicans' resounding victory gives them an opportunity to push legislation that's been bottled up in the Democratic Senate, from targeting elements of President Barack Obama's healthcare law to constructing the Keystone XL oil pipeline to rolling back environmental regulations.

IHS: Mexican Reforms Could Attract Petrochemical Investment

November 5, 2014 2:37 pm | News | Comments

Recent changes to Mexico’s hydrocarbon laws are opening doors for private oil and gas investment, which is expected to secure more competitive feedstocks for expanded petrochemicals production. It will also allow for cheaper electricity, which will help improve the country’s competitiveness.

Texas Leads Nation In New Oil & Natural Gas Jobs

November 5, 2014 1:51 pm | News | Comments

In the past decade, growth of jobs in oil and natural gas extraction, drilling, and support activities has outpaced the national average of private sector job gains. Additionally, average wages of oil and natural gas production jobs were $108,000 in 2013.

OPEC Shaken By Saudi Slashing Of Oil Prices

November 5, 2014 1:37 pm | by George Jahn, AP | News | Comments

The Saudis' move to cut prices to the U.S. - aimed at protecting their market share there - will exacerbate OPEC conflicts. Despite OPEC's credo of consensus and unity, the organization is de-facto controlled by its top producer. The prime motivator for the Saudis is to compete against U.S. shale oil.

Israel Supporting Offshore Oil And Gas Rights For Cyprus

November 5, 2014 1:22 pm | by Menelaos Hadjicostis, AP | News | Comments

Turkey doesn't recognize ethnically divided Cyprus as a sovereign state and strongly opposes its gas search, arguing that it ignores the rights of breakaway Turkish Cypriots to any mineral-generated wealth. Cyprus was split in 1974 when Turkey invaded after a coup.

Oil Prices Hit 4-Year Lows After Saudi Discount

November 4, 2014 10:27 am | by Pan Pylas, Associated Press | News | Comments

Oil prices sank to four-year lows on Tuesday following reports Saudi Arabia, OPEC's largest oil producer, is cutting its prices for customers in the U.S.                 

California Counties Take Fracking To The Booth

November 2, 2014 8:31 pm | by Ellen Knickmeyer, AP | News | Comments

Chevron, ExxonMobil and other oil companies have donated about $7 million to try to defeat the fracking bans. These measures would ban not only fracking but one of the most commonly used drilling methods in the state - steam injection. None of the three counties currently are known to host onshore fracking, which has led some to argue that the vote is no more necessary than banning ice-fishing.

Feds Release Arctic Drilling Review

November 2, 2014 8:25 pm | by DAN JOLING, Associated Press | News | Comments

The agency acknowledges that there is a 75 percent chance that one or more large oil spills of 42,000 gallons or more could occur if leases are developed. A supplemental review assumes an extraction of 4.3 billion barrels over the life of the leases.

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading