Category: Crude oil

Stiffer rules looming on shale drilling

Regulators moved on two tracks Wednesday to stiffen standards for natural gas drilling and force companies to shed more light on the chemicals used in the process.  More »

Oil sands CO2 to match conventional drilling in a decade

Carbon-dioxide emissions per barrel of oil produced from Alberta’s oil sands will probably fall to levels of conventional drilling in as little as a decade, Suncor Energy Inc. (SU)’s Chief Executive Officer Rick George said.  More »

Enbridge talking with Valero on East Coast pipeline reversal

Enbridge Inc., Canada’s largest pipeline owner, is in talks with Valero Energy Corp. and other refiners about reversing the flow of a pipeline to ship Canadian crude to the U.S. East Coast, said Chief Executive Officer Patrick Daniel.  More »

Residents sue Exxon for Yellowstone River oil spill

Several landowners whose property was damaged when an ExxonMobil Corp. pipeline spilled oil into the Yellowstone River have filed a lawsuit seeking unspecified damages for long-term harm to their property and businesses.  More »

TNMP to Valero: What we have here is a failure to communicate

The company that runs the power lines supplying Texas City’s vast refining complex said it is taking measures to deal with ongoing power outages that have hit the facilities this year.  More »

Report highlights need to clean Gulf

Coastal states must work together to restore key elements of the Gulf of Mexico that have made it a backbone of the U.S. economy before the ecosystem becomes so weak and polluted that it is no longer habitable for animals or people, according to a preliminary report released today.  More »

Anadarko plans to sell all Brazil oil blocks, ANP says

Anadarko Petroleum Corp., the largest U.S. independent oil and natural-gas company by market value, plans to sell all its blocks in Brazil, a director at the nation’s crude regulator said.  More »

Goldman Sachs: U.S. crude prices at $109 in 2012

The prediction represents a drop from the investment bank’s previous prediction of $123.50 a barrel for West Texas Intermediate, and reflects the increasingly anxious outlook for the global economic recovery. The bank also trimmed its 2012 Brent price estimate to $120 a barrel from $130.  More »

Odums honored for contributions to offshore business

Shell CEO Marvin Odum and his father were honored by an offshore drilling industry group for their contributions to the field.  More »

Exxon Mobil says jury’s gas-leak damages award was excessive

Exxon Mobil Corp. said it shouldn’t be forced to pay more than $1 billion in punitive damages over a 2006 gasoline leak in Maryland that allegedly fouled residents’ drinking water.  More »

Pa. would let counties set gas drilling fees

Gov. Tom Corbett released a plan for Pennsylvania’s natural gas boom that would allow the state’s counties to impose a fee on drilling to help pay to regulate it and fix environmental damage in communities where it is happening.  More »

British firm buys control of Libyan oil field company

British company Heritage Oil PLC said today that it has acquired a controlling interest in a Libyan company licensed to provide oil field services including offshore and land-based drilling.  More »