Category: Crude oil

Oil demand seen rising by Saudi’s al-Naimi as markets calm

Brent crude futures, a benchmark for more than half of the world’s oil, gained 3.6 percent this year, after plunging 48 percent in 2014.  More »

Nigeria suffers ‘substantial’ revenue loss as oil prices fall

The continent’s largest economy has been hit by the halving in Brent crude prices since the middle of last year as the West African nation prepares for presidential elections next month.  More »

Oil boom’s end threatens pain for much of Latin America

Upheaval is taking place across much of Latin America, where oil prices have fallen by nearly half since September, threatening to pull the rug out from under a decade-long economic boom.  More »

A victim of the industry downturn asks for advice

This week I answer a reader email from someone who has unfortunately been caught up in the industry’s reaction to plunging oil prices.  More »

Texas producers paid record amont of state and local taxes last year

The figures come at a time when the energy sector is dramatically slowing its activity in Texas amid falling oil prices, prompting some concern about whether public entities that have grown accustomed to oil money could feel the pinch as production slows.  More »

Virginia fines CSX $361,000 for Lynchburg derailment in 2014

The April 30 derailment saw 17 tankers derail, with three going into the James. The state Department of Environmental Quality said one tanker breached, with 98 percent of the oil consumed by fire.  More »

Canada: Oil train accident shows new safety rules inadequate

The Transportation Safety Board said Monday the Class 111 tank cars involved in the Feb. 14 CN train derailment met the upgraded standards for new tank cars carrying crude and other flammable liquids.  More »

Sheffield: Midland economy will recover, maybe not as strong

The chairman and chief executive officer of Pioneer Natural Resources said during a visit to Midland last week that this is the industry’s fifth major downturn since he arrived in Midland in 1979.  More »

Exxon Mobil’s reserves up at the end of 2014

Exxon said it had 25.3 billion barrels of oil-equivalent in reserves at the end of 2014, up from the 25.2 billion oil-equivalent barrel the company had on its books at the end of 2013.  More »

Oil extends weekly loss as Libya opens pipeline

West Texas Intermediate lost as much as 2.5 percent after falling 4.6 percent last week.  More »

Eagle Ford shale oil boom turns to bust

More than five years of rising oil prices spurred thriving sales of million-dollar trophy homes in Calgary and a doubling of home prices in the last decade.  More »

Fuel-hauling trains could derail at 10 a year

The federal government predicts that trains hauling crude oil or ethanol will derail an average of 10 times a year over the next two decades, causing more than $4 billion in damage and possibly killing hundreds of people if an accident happens in a den…  More »

Crude oil flowing into Cushing, Oklahoma, worth billions

As oil prices have plummeted over the last several months, the U.S. Energy Information Administration said companies have stockpiled about 2.2 million barrels a week at Cushing.  More »

U.S. rig count falls by 48 as market watches for signs of slowing output

This week’s count brought the number of active U.S. rigs down to 1,310, a figure that has plummeted by more than 460 compared to last year.  More »

Truckers with 35,000 openings seek jobless oil workers

Attracting and retaining drivers is one of the biggest challenges for long-haul trucking companies, which can see annual driver turnover of more than 100 percent, according to Bloomberg Intelligence.  More »
Page 2 of 30312345...102030...Last »