A Long Overdue Action

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The recent legislation that removed the 40-year export ban on domestically produced crude oil was long overdue. First put in place to avoid excessive dependence on crude oil imports, especially from the unstable Persian Gulf, it was kept in place far too long with justifications that were not robust. The benefits that will be derived […]
Categories: featured, General, p2
Harold Hamm, chairman and chief executive officer of Continental Resources Inc., speaks during the 2015 IHS CERAWeek conference in Houston, Texas, U.S., on Tuesday, April 21, 2015.  (Aaron M. Sprecher/Bloomberg)

Oklahoma oilman says US market quality reflected in price

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Harold Hamm, CEO of Continental Resources, says it’s a sign that the world sees domestic light, low-sulfur oil as superior to international oil, much of which is denser and higher in sulfur.
Workers perform maintenance on an offshore facility operated by Mexico's national oil company, Petróleos Mexicanos. (Susana Gonzalez photo/Bloomberg)

Pemex to announce job cuts with oil output at 25-year low

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The state-owned oil producer is set to announce the staff reduction as part of the plan to restructure the company and to synchronize itself to industry standards, interim Chief Financial Officer Rodolfo Campos said in a phone interview this week.
Categories: General
The array of valves and controls on a completed well is known in the oil patch as a Christmas tree. (Bloomberg photo)

Warm Christmas cold comfort for natural gas

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Unseasonably warm weather and abundant supply have kept natural gas inventories high and prices low.
Categories: Crude oil, General
TPH report: At $50 oil, Eagle Ford production could dip 13 percent

Eagle Ford Shale counties top Texas production for October

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Communities in the Eagle Ford Shale topped the state’s list of the biggest crude oil, condensate and natural gas producers in October, according to preliminary data released this week by the Texas Railroad Commission. Karnes County continues to pump more crude oil than any other county, with nearly 6.39 million barrels produced in October.
A Cabot Oil & Gas Corp. natural gas drilling rig operates in the Marcellus Shale in Pennsylvania. (Cabot Oil)

Christmas week gift doesn’t mean happy new year in oil patch

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Don’t be fooled by the ghost of oil prices past. The downturn will haunt the industry well into the new year.
Categories: Crude oil, featured, General
Plant operators at the control room, pipes, towers and fractional facilities at Enterprise refinery in Mont Belvieu, Texas. (Thomas B. Shea/Houston Chronicle)

Enterprise says the first shipment of export crude will sail from Houston

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Enterprise Products Partners says the shipment will be the first export of domestic crude from the Gulf Coast in four decades.
Crude prices rose early Wednesday on reports that U.S. inventories declined over the past week.

Crude rises today; still down almost $20 a barrel for the year

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Oil prices rose Wednesday as an inventory glut eased, but prices remain well below January 2015 levels.
Categories: Crude oil, featured, General
Steven Schmidt, right, Terminal Manager of NuStar in Port Corpus Christi, talks with Greg Matula, also of NuStar, at the contraction site of the new pier for oil tankers.  Monday, Oct. 28, 2013. (Bob Owen/San Antonio Express-News)

Oil exports prompt splitter decisions in Corpus Christi

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The lifting of a decades-old ban on crude oil exports primes Corpus Christi to become a key oil hub in the coming years, but it also dampens interest in expensive projects to export condensate, an ultralight oil not subject to the long-standing restriction.
(Ty Wright/Bloomberg)

Cheap oil may bring $1.6 billion gift to holiday travelers

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Regular gasoline averaged $2.01 per gallon Tuesday, and it’s below $2 at most U.S. gas stations, GasBuddy reports.