John Giles, president and CEO of Central Maine and Quebec Railway, said he hopes to have an agreement with officials in Lac Megantic, Quebec, within 10 days that would allow the railroad to ship non-hazardous goods, restoring the vital link between the railroad’s operations to the east and west of the community. More »
The gains came in the wake of a warning from Russian President Vladimir Putin that his country wouldn’t deliver gas to Ukraine unless it receives payment in advance, part of a dispute over an unpaid energy bill. More »
The derailment last summer in Lac-Megantic was the worst railway accident in Canada in nearly 150 years.
Oil slipped after the Federal Reserve said Thursday that U.S. industrial production dropped in April. More »
Something could be missing from your next electric bill: a fee that electric customers have been paying for 31 years to fund a federal nuclear waste site that doesn’t exist. More »
In February, Banamex said oil services company Oceanografia had used falsified invoices as collateral to obtain $585 million in loans. More »
WTI rebounded last week after the EIA said crude inventories slid from 399.4 million barrels, the highest level since weekly reports were published in 1982. Supplies expanded by 912,000 barrels in the seven days ended May 9, according to the API, which collects information on a voluntary basis from operators of refineries, bulk terminals and pipelines.
Argentine President Cristina Fernandez is accused of abusing her power and harming the environment by issuing a decree last year that facilitated the deal.
New Mexico Gov. Susana Martinez applauded the company’s investment in the state.
The Interior Department’s BLM is counting on Congress to approve a budget request that would allow it to use $10 million raised from fees charged to oil and gas companies to pay for high-priority inspections. More »
The bill imposes a 2.5-percent severance tax on horizontal wells, including those extracting resources through hydraulic fracturing. More »
U.S. crude for June delivery gained $1.11 to $101.70 a barrel. More »