Posts filtered on Category
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 […]
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.
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.
Unseasonably warm weather and abundant supply have kept natural gas inventories high and prices low.
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.
Don’t be fooled by the ghost of oil prices past. The downturn will haunt the industry well into the new year.
Enterprise Products Partners says the shipment will be the first export of domestic crude from the Gulf Coast in four decades.
Oil prices rose Wednesday as an inventory glut eased, but prices remain well below January 2015 levels.
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.
Regular gasoline averaged $2.01 per gallon Tuesday, and it’s below $2 at most U.S. gas stations, GasBuddy reports.