Alaska heavily relies on oil revenue to fund the cost of state government, but the fall in prices has contributed to an estimated 80 percent decline in the state’s share of production taxes from last year.
A meeting between the foreign ministers of OPEC’s Iran and Saudi Arabia was delayed in part due to discord over falling crude prices, said Hossein Amir-Abdollahian, Iran’s deputy foreign minister for Arab and African affairs More »
While American society continues to enjoy the energy that the oil and gas business produces, for lower prices than they have in years, the last few weeks for those actually producing that energy have been brutal. More »
Federal agencies have been given a Feb. 2 to provide advice on whether to move forward with the hotly debated Keystone XL pipeline. More »
Crude has long coursed from Canada to Oklahoma through the existing Keystone pipeline. Southeast Texas connected to that line in January last year when the Keystone XL southern leg ending in Nederland was complete, and Gulf Coast plants are already refining crude from Canadian fields.
Diamondback said that it expects the cost of a horizontal well with a 7,500-foot lateral segment to fall to between $6.2 million and $6.7 million. More »
Crude inventories expanded by 5.4 million barrels to 387.8 million barrels, more than expected and the highest level recorded in January. More »
The EIA also forecast low gasoline prices for the next few years.. More »
Enbridge Inc. has announced it will build an offshore crude oil pipeline extending to Hess Corporation’s Stampede Gulf of Mexico project. More »
With crude prices down more than 55 percent since the summer of 2014, sand producers are facing uncertainty about how much of the material will be needed in the next few years. More »
What can energy consumers expect this year as the Texas Legislature convenes for its 84th regular session? Will lawmakers pass laws to lower bills or will they take actions that have the opposite effect? The session begins January 13th. Here are a four issues that lawmakers may consider that could impact what Texans pay for their […] More »
It joins a slew of competitors of various sizes, from Marathon Oil to Continental Resources to ConocoPhillips, who have all cut their planned 2015 capital budgets as well. More »
Since the first Arab oil embargo in 1973, every time the price of crude oil and gasoline has increased, so called consumer advocates and opportunistic politicians have accused oil companies of price gouging, price fixing and the like. Over this time, the FTC has conducted numerous investigations of those charges and every investigation has produced […] More »
Liberty Natural Gas wants to build a deep-water port in federal waters 19 miles off Jones Beach, New York, and 29 miles off Long Branch, New Jersey. Its stated purpose is to bring additional natural gas into the New York area during times of peak demand, thereby lowering home-heating prices. More »
Bankrupt biofuel maker KiOR and controlling shareholder Vinod Khosla say the state of Mississippi is using legal tactics in an attempt to squeeze money from the company. More »