Category: Crude oil

EIA: Eagle Ford to cross 1.5 million daily barrels in September

The U.S. Energy Information Administration expects the Eagle Ford Shale to produce 1.51 million barrels of crude oil and other liquids daily in September. It would be a gain of around 31,000 daily barrels over August production for the South Texas field.  More »

Pemex has mixed success in first phase of energy overhaul

Mexico’s state-owned Pemex will retain rights to more than 80 percent of the country’s proven and probable oil reserves, but most areas of possible reserves will be open to private exploration.  More »

Gulf oil field names follow quirky, creative system

As drilling activity has increased in the Gulf of Mexico over the decades, geologists have had to push the envelope and develop even more distinct labels for their finds  More »

Russia starts drilling its northernmost oil well

The Russian-American project comes despite deteriorating relations between Washington and Moscow over the crisis in Ukraine, in which each side has hit the other with sanctions.  More »

Tanker carrying disputed crude hasn’t moved or unloaded oil

A tanker remains anchored off Galveston two weeks after it arrived carrying 1 million barrels of crude it can’t unload because of a dispute involving ownership of oil produced in Iraq.  More »

Brent crude declines as U.S. hits militants in Iraq

However, West Texas Intermediate rose 31 cents to $97.65 a barrel on the New York Mercantile Exchange.  More »

Exxon drilling Russian Arctic shows oil sanctions lack bite

After more than two years’ planning Exxon and its partner OAO Rosneft, Russia’s state oil producer, will start drilling the Universitetskaya prospect tomorrow, the Kremlin said in a statement Friday.  More »

Action in Iraq sends crude prices upward

Oil for September delivery gained 42 cents to settle at $97.34 a barrel on the New York Mercantile Exchange.  More »

U.S. crude exports hit recent high

U.S. Census Bureau data places U.S. crude exports at about 390,000 barrels per day in June, a 35 percent increase from May. That’s a tall figure, especially considering that U.S. exports of domestically produced crude are severely restricted by a 1975 federal law.  More »

Gasoline futures rise, crude oil keeps declining

Refineries slowed their operations, pushing gasoline inventories down by the most in four months.  More »

Ebola outbreak threatens oil-producing Nigeria

So far the ebola virus outbreak in Africa isn’t much affecting energy operations there, but that could change with reports that the disease has reached Nigeria, the continent’s most populous nation and a major oil producer.  More »

EOG touts its latest Permian play

EOG Resources Inc. executives said Wednesday they’re optimistic about the prospects for the Second Bone Spring Sand, its latest target for drilling, which sits beneath the Leonard Shale in southeast New Mexico.  More »