Category: Crude oil

Nigerian oil workers begin strike over lack of security

Nigerian oil-worker unions started a three-day strike to press the government to protect their members from a resurgence in kidnappings.  More »

Dominion seeks exports of Marcellus Shale gas

An energy company is seeking federal approval to allow exports of liquefied natural gas from the booming Appalachian drilling industry, saying that the nation’s natural gas supply is outpacing demand.  More »

U.S. ‘wildcat culture’ risks Macondo oil spill repeat, official says

The U.S. risks a repeat of the 2010 Macondo oil spill as its “wildcat culture” fails to put a premium on safety and security, the co-chairman of the National Commission on the BP Deepwater Horizon Oil Spill said.  More »

Houston firm Complete to merge with Superior

New Orleans-based Superior Energy Services is buying Houston’s Complete Production Services for about $2.7 billion in a cash-and-stock deal that will combine the two mid-size energy service firms.  More »

Ala. mayor frustrated with BP settlement delays

After a year of negotiations, the mayor of Orange Beach said he frustrated by delays in finalizing a $1.27 million settlement with BP PLC over the Gulf oil spill last summer.  More »

Twin blasts target oil pipelines in southern Iraq

A pair of bombs struck two oil pipelines in southern Iraq, causing a temporary cut in production at the country’s largest oil field, officials said.  More »

Libya oil chief optimistic on output

Libya’s oil production stands at about 25 percent of its prewar levels but could return to an output of 1.6 million barrels per day in about 15 months, the country’s oil chief said.  More »

Sinopec agrees to buy Daylight Energy for $2.2B

China’s Sinopec International Petroleum Exploration and Production Corp. said it has agreed to buy Canadian oil and gas company Daylight Energy Ltd. for about $2.1 billion U.S.  More »

U.S. rig count rises the most in three weeks

The U.S. total rig count rose by the most in three weeks as energy producers made more plays in Oklahoma and Texas, according to Baker Hughes Inc.  More »

Petrobras production hurt by ‘global bottleneck’ for rigs

Petroleo Brasileiro SA, Brazil’s state-controlled oil company, will finish 2011 at the lower range of its production target after a “global bottleneck” delayed rig deliveries, said its chief executive officer.  More »

API: Keystone XL opponents want to politicize pipeline decision

American Petroleum Institute President Jack Gerard said a small but vocal minority of fossil fuel foes are mounting “sideshows” designed to distract from the potential jobs and energy security benefits of the proposed Keystone XL pipeline.  More »

Is crude headed for a bigger fall?

Oil prices have dipped over uncertainty about the health of the global economy leading to lower demand. A slowdown in supply growth, however, has made the drop in prices not as steep.  More »