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Pioneer CEO: US oil production could hit 14 million barrels/day

Technological improvements will allow energy companies to scrape more crude out of the ground and drive U.S. oil production higher, even as producers seek new overseas markets for the fossil fuels, executives said Wednesday. Pioneer Natural Resources CEO Scott Sheffield predicted U.S. oil production could hit 14 million barrels per day, well above the 9.5 million barrel mark projected by government forecasters.  More »

Mexican lawmakers approve overhaul ending Pemex monopoly

The Mexican Congress has passed legislation aimed at ending state-owned Pemex’s 75-year state monopoly on the energy industry.  More »

New tool maps flood risks at nation’s power plants, refineries

The U.S. Energy Information Administration on Wednesday unveiled a new mapping tool, giving the public its first glimpse into flooding risks at the nation’s power plants, oil refineries, pipelines and other critical energy infrastructure.  More »

Old power plant site may provide energy again.

An old Houston Lighting & Power generating plant just outside South Loop 610 could get new life turning natural gas into crude oil.  More »

Venezuela says Citgo assets worth more than $10 billion

PDVSA is seeking to sell Citgo assets, the U.S. unit said in a July 29 bond prospectus document.  More »

North Dakota crude no more dangerous than similar fuels, report finds

HOUSTON — An industry-funded study released Monday concluded that the oil from the Bakken region doesn’t pose a greater risk to transport than other similar, types of crude. The study is the most scientific analysis of the region’s crude so far, the North Dakota Petroleum Council said. The group hopes the report allays fears that […]  More »

Grouse measures defer drilling in much of Wyoming

The total area of federal oil and gas leases deferred in Wyoming to protect the greater sage grouse — ahead of next year’s expected decision on whether the bird is a threatened or endangered species — substantially exceeds the combined size of Yellowstone and Grand Teton national parks, U.S. Bureau of Land Management figures show.  More »

Parnon, Arcadia to pay $13 million in price-rigging suit

Parnon Energy, an oil logistics company, and London-based oil trader Arcadia Petroleum Ltd. agreed to pay $13 million to settle a U.S. regulator’s claims they manipulated oil futures prices.  More »

Regulator alleges Houston oil company misled investors

The Securities and Exchange commission on Monday charged independent exploration and production company Houston American Energy Corp. and its CEO with making false claims about the company’s oil reserves.  More »

Colorado compromise aims to head off fracking showdown at ballot box

WASHINGTON — A last-minute deal in Colorado is aimed at averting a ballot showdown in November over the future of hydraulic fracturing and drilling regulations in the state that threatened to strand oil industry investments and divided Democrats.  More »

Electric cars eventually could tie up grid traffic

Utilities and automakers are looking to a time when electric cars become more common and might strain electric grid capacity.  More »

Nigeria, Shell not cleaning oil pollution, report charges

Nigeria, a member of the Organization of the Petroleum Exporting Countries, is Africa’s largest oil producer and most populous nation.  More »

Companies at work on blowout preventers for deeper depths

GE Oil & Gas and others are working to create blowout preventers that can work at deeper depths and higher pressures.  More »

Mexico lower House passes final oil bills, sends them to Senate

Mexico’s Lower House early passed the last package of bills to regulate an end to Petroleos Mexicanos’s state-oil monopoly, sending the legislation to the Senate for final approval after making minor changes on pension and retirement issues.  More »

Houston refinery no longer will buy Kurdish crude

Chemical giant LyondellBasell acknowledged past purchases of modest amounts of what it called “Iraqi crudes” to process at its Houston refinery but said future buys have been canceled until the ownership dispute is settled.  More »
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