Article 398
Crude inventories shrink

U.S. crude oil stockpiles fell for the second consecutive week, adding support to prices that surged on reports that OPEC nations had agreed to cut production. Commercial inventories of crude fell about 900,000 barrels last week, after declining by about 1.3 million barrels the previous week, accord ...

Texas jury awards Boone Pickens $146 million in West Texas oil lawsuit

By Natalie Posgate of The Texas Lawbook PECOS  –Two Midland oil companies and Dallas-based J. Cleo Thompson intentionally failed to meet their end of an agreement with Dallas oil mogul T. Boone Pickens to acquire and drill more than 160 oil wells in Reeves and Pecos counties, a West Texas jury ruled ...

Commentary: Arctic energy could boost maritime industry

By Matthew Paxton With all of the amazing innovation going into transportation these days, those unaware might not envisage that such a historic trade as shipbuilding has a place. But in fact, the U.S. shipbuilding and repair industry continues to support more than 500,000 jobs nationwide and contri ...

Tesoro in $4 billion deal to buy Western Refining

By Rye Druzin San Antonio Express-News Tesoro Corp. is buying El Paso-based Western Refining for $4.1 billion in a transaction that adds three new facilities to the San Antonio company’s portfolio and makes it the 5th-largest U.S. refiner able to process almost 1.1 million barrels a day. The deal pu ...

Commentary: Seismic surveys play significant role in offshore drilling

By Andy Radford A decisive majority of American voters – 80 percent – support increased production of U.S. oil and natural gas, including 94 percent of Republicans, 76 percent of Independents and 71 percent of Democrats. Voters associate energy production with job creation, economic growth, energy s ...

Guest Columnist: Energy policy under President Trump: How much change is possible?

By Jim Krane For the US energy sector, a Trump presidency portends less regulation for fossil fuels and a retreat from reducing carbon emissions to fight climate change. Trump’s big campaign promises, however, were short on policy insights and his selection of energy advisers remains unknown. Trump’ ...

Commentary: The new energy company

By Reid Morrison The U.S. oil and gas industry has experienced a sea change as it navigates an unpleasant shift in commodity prices since the highs of 2014. And as the industry muscles through a slow recovery, exploration and production, oilfield services, and drilling companies  are finding they ha ...

Profit surges for Valero’s pipeline subsidiary

By Rye Druzin, San Antonio Express-News Valero Energy Partners’ third-quarter profit surged 65.6 percent, exceeding Wall Street expectations. “We successfully integrated the operations of the Meraux and Three Rivers terminals into our system and remain on track to grow distributions at a target annu ...

Valero’s profit falls by more than half in third quarter

By Rye Druzin, San Antonio Express-News  Valero Energy Corp.’s third quarter earnings slid 56 percent, but still beat analysts’ projections as oil prices started to stabilize. Valero Chief Executive Officer Joe Gorder called the third-quarter a “challenging earnings environment.” “Our team’s focus o ...

Commentary: Arctic drilling has vital role in energy, national security

By Erik Milito They’re calling it “mega,” “massive,” “major.” A new oil discovery in shallow waters off Alaska’s North Slope could contain 6 billion barrels of crude oil – singlehandedly increasing Alaska’s oil reserves by 80 percent and potentially producing 200,000 barrels per day. The lesson is s ...

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