Kurdish security forces took over two major oil fields outside the disputed northern city of Kirkuk before dawn Friday and said they would use some of the production for domestic purposes, escalating a dispute the central government of Prime Minister Nouri al-Maliki. More »
Global oil demand will rise at the fastest pace in five years in 2015 as China leads gains in emerging economies, the International Energy Agency said. More »
With domestic production at a 28-year high, LOOP’s managers are thinking the previously unthinkable: They want to reverse the flows and send North American oil out as well as take foreign oil in. More »
Crude for August delivery gained 64 cents to $102.93 a barrel. More »
Global oil demand is projected to grow in 2015 as the world economy continues to recover but with U.S. production surging, demand for oil from the Organization of Petroleum Exporting Countries will continue to slide, the oil producer’s group announced Thursday. More »
More than a year after a compromise paved the way for high-volume oil and gas extraction in Illinois, the agency in charge of overseeing the practice has hired just four of 53 new employees it says it needs as it continues working to complete rules drillers must follow. More »
The prolonged drop could lead to lower gasoline prices for U.S. drivers in the weeks ahead. More »
The Permian Basin, which helped define the Texas oil business for 50 years then hit the skids, is back big-time, and a new government report makes the point. More »
Talisman Energy and Statoil ASA’s effort to sell their joint venture in the Eagle Ford Shale has ended after offers came in lower than expected, Bloomberg News is reporting. Bloomberg reports. More »
Oil has been falling steadily since it hit a 10-month closing high of $107.26 on June 20 as the Iraqi government has slowly re-established stability.
Energy companies already have found one way to export some of the crude pouring out of Texas wells, despite a longstanding ban on selling U.S. oil overseas. Now they’re looking at another strategy. More »
A fund managed by Macquarie Group Ltd. agreed to take full control of a U.S. bulk liquid terminals operation for $1.03 billion in cash and stock as Australia’s largest investment bank expands its North American businesses.