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The Lead

What Is OPEC Thinking?

November 26, 2014 10:40 am | by Jonathan Fahey, AP Energy Writer | News | Comments

There is political upheaval across the Middle East, Iran is suffering under Western sanctions, and surprising growth in oil production outside of OPEC is sapping badly-needed revenue. Crude has fallen 32 percent in five months, reducing OPEC revenues by nearly $1 billion a day.

EIA: Gas Prices Lowest Since '09 Thanksgiving

November 26, 2014 9:36 am | News | Comments

The national average is 47 cents lower than a year ago, and the lowest price heading into a...

Proposed Rail Terminal Would Be The Largest For Oil In The U.S.

November 25, 2014 11:34 am | News | Comments

A proposed oil terminal in Vancouver, Washington would handle more crude than any single rail...

Profire Energy Acquires VIM Injection Management

November 24, 2014 11:25 am | News | Comments

Profire Energy, a technology company that creates, installs and services burner management...

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Clariant Reduces Carbon Footprint In Supply Chain By 65 Percent

November 24, 2014 10:14 am | News | Comments

Through supply chain analysis and planning involving their Oil Services business and its regional procurement team, the company partnered with the manufacturer of a subsurface chemical and switch from bulk tanker truck deliveries to intermodal transport.

Judge Denies Bid To Halt Illinois Fracking Rules

November 24, 2014 9:49 am | by Jim Suhr, Associated Press | News | Comments

A judge in southwestern Illinois has denied a bid by a landowners group to suspend the state's new rules for high-volume oil and gas drilling, ruling that the plaintiffs failed to show they would suffer immediate harm if the fracking was to go forward.

Explosion On Gulf Platform Kills 1, Injures 3

November 21, 2014 11:31 am | by The Associated Press | News | Comments

An explosion occurred on an offshore oil and gas platform in the Gulf of Mexico on Thursday, killing one person and injuring three.                    

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Report: Bird Needs Buffer From Drilling

November 21, 2014 11:19 am | by Matthew Brown, Associated Press | News | Comments

A government study with significant implications for the U.S. energy industry says the breeding grounds of a struggling bird species need a 3-mile or larger buffer from oil and gas drilling, wind farms and solar projects.     

PG&E Fined $10.8M Over Calif. Natural Gas Blast

November 21, 2014 11:12 am | by The Associated Press | News | Comments

Pacific Gas and Electric Co. has been fined $10.85 million for a March natural gas explosion that destroyed a cottage in Carmel.                     

Tribal Head To Speed North Dakota Pipeline Talks

November 21, 2014 10:57 am | by James MacPherson, Associated Press | News | Comments

The new leader of North Dakota's oil-rich Three Affiliated Tribes is pledging to speed negotiations on a proposed pipeline through tribal land that would curb the wasteful burning of natural gas in the state by more than 10 percent.   

U.S. Consumer Prices Unchanged In October

November 20, 2014 11:28 am | by Martin Crutsinger, AP Economics Writer | News | Comments

U.S. consumer prices were unchanged in October as a fourth straight decline in gasoline costs helped to keep inflation at bay.                     

EIA Reports Refinery Outages For Fall 2014

November 20, 2014 11:25 am | by U.S. Energy Information Administration | News | Comments

EIA has issued its semiannual report on refinery outages and their potential implications for the availability of gasoline and distillate supply.                  

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GOP Vows To Pass Keystone Later If Bill Fails Now

November 18, 2014 3:25 pm | by Dina Cappiello, Associated Press | News | Comments

Republican leaders vowed Tuesday to take up and pass a bill approving the Keystone XL pipeline in Congress again next year if the Senate fails to advance the measure, or President Barack Obama vetoes it.        

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.

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.

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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.

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.

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.          

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