Category: Crude oil

Chevron 2Q profit up on asset sales, oil prices

Global production slipped, however, to 2.55 million barrels per day of oil and gas from 2.58 million barrels per day last year  More »

Some Preposterous Data Points across the Energy Landscape

If this tortoise could talk, I’m pretty sure he would say ‘preposterous’ in response to what you are about to read. For the wild and wacky world of energy has revealed some preposterous notions in the last week or so. Here are but a few of them.  –First up we are talking trash, for only 1% […]  More »

3 West Coast governors oppose offshore drilling

The Interior Department is developing an updated plan for its Outer Shelf Oil and Gas Leasing Program, and the governors formally stated their opposition to the inclusion of any oil or gas lease sales off the coast as part of any new plan.  More »

Northern Courier Approval Highlights Pipeline Politics

In stark contrast to the continuing delay of the Keystone XL pipeline project, Trans Canada’s Northern Courier pipeline project has gone from initial application to regulatory approval in a mere 16 months. The Northern Courier project is actually two parallel pipelines, one to carry bitumen and another to carry diluent from the Fort Hills mine […]  More »

Company hired to offload crude no longer obligated to perform the job

The company hired to offload a disputed load of Kurdish crude is off the hook from carrying out that contract.  More »

Shell beats estimates, takes gas writedown

Royal Dutch Shell, Europe’s biggest oil company, beat analyst second-quarter earnings estimates while pushing ahead with a restructuring program that saw it write off about $1.9 billion in U.S. gas assets.  More »

Energy companies keep taking on debt to finance new projects

As oil prices and cash flows remain flat, energy companies are turning to lines of credit and selling off assets to keep up the pace of investment, according to a report from the U.S. Energy Information Administration.  More »

Exxon Mobil restarts Pegasus pipeline in Texas

Exxon Mobil has restarted a section of its Pegasus pipeline in Texas more than a year after a crude oil spill in central Arkansas forced the company to shut down the entire line, a spokesman said.  More »

Tesoro reports slight drop in earnings

The company’s net income fell to $224 million, or $1.70 a share, compared with $227 million, or $1.64 a share, for the second quarter of 2013.  More »

Chevron gets approval for $1 Billion Calif. refinery project

Chevron must meet several conditions imposed by the Richmond planning commission while installing a new hydrogen plant at its complex, including limits on sulfur processing and emissions.  More »

Total pledges cost cuts after record-low output hurts profit

Total is counting on new projects to increase its oil production to 2.6 million barrels a day in 2015 and to about 3 million barrels two years later.  More »

Valero earnings up on increased volumes

The crude oil that Valero made into fuels averaged 2.7 million barrels a day, an increase of 115,000 barrels a day compared with the second quarter of 2013.  More »

Marshals won’t seize tanker’s oil unless it’s brought closer to shore

U.S. marshals won’t seize oil at the center of an ownership dispute unless smaller vessels transfer the oil from a tanker in the Gulf of Mexico and carry it closer to U.S. shores.  More »

Chesapeake boosting Wyoming holdings

Chesapeake Energy Corp., the U.S. natural gas producer that almost ran out of money last year, is spending $1.71 billion to expand access to oil-soaked shale in Wyoming and buy back preferred shares that were a drain on cash.  More »

Judge orders Kurdish crude seized if unloaded

A federal judge ordered U.S. Marshals to seize any crude offloaded from an oil tanker anchored off the Galveston coast carrying 1 million barrels of Kurdish crude.  More »
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