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 »
Vietnam reacted angrily to the arrival of the deep sea oil rig on May 1 close to the Paracel Islands, which are controlled by China but claimed by Hanoi. More »
The Quebec provincial prosecutor’s office said 47 counts of criminal negligence have been filed against engineer Thomas Harding, manager of train operations Jean Demaitre, and Richard Labrie, the railway’s traffic controller. More »
“A knee-jerk reaction could have a negative impact on our economy because of the large role the oil and gas industry plays here,” a lead industry regulator testified at a subcommittee hearing in Austin. More »
A widely popular, bipartisan energy savings bill fell victim in the Senate on Monday to election-year politics and the Obama administration’s continued indecision on the Keystone XL oil pipeline. More »
Officials from the federal Mine Safety and Health Administration say two workers were trapped and killed in an accident at a West Virginia coal mine. More »
The price of oil rose above $100 a barrel on Monday amid renewed tensions over Ukraine. More »
A bipartisan bill to promote many of the same efficiency goals Obama touted Friday in California is expected to go down in defeat Monday amid a dispute over the Keystone XL oil pipeline. More »
One of Nebraska’s biggest utilities wants to build a 220-mile power transmission line across the Sandhills, but the project is drawing strong opposition from some environmental groups. More »
The government has failed to inspect thousands of oil and gas wells it considers potentially high risks for water contamination and other environmental damage, congressional investigators say. More »