Category: Crude oil

Summer NAPE opens semi-annual marketplace for oil and gas deals

Looking for the next big play in oil and gas? Then you should be over at NAPE — formerly known as the North American Prospects Expo – which gets started today at Houston’s George R. Brown Convention Center.  More »

Shell uncertain about cause of North Sea oil spill

Royal Dutch Shell says it still does not know what caused the worst North Sea oil spill in a decade but the leak is now only pumping one barrel — or 42 gallons — of oil into the cold water per day.  More »

La. man gets prison for fraudulent BP claim

A Houma man has been sentenced to one year in prison for fraudulently receiving money from the $20 billion claims fund that BP PLC established after the Gulf of Mexico oil spill.  More »

Gulf spill report steers clear of blame

The crew of the Deepwater Horizon drilling rig failed to react to “multiple indications” of problems with BP’s Macondo well before it blew out, but divergence from industry standards and plans approved by regulators also played a role in the accident, according to a new investigation report.  More »

Oil rises on sign of better demand, weaker dollar

Oil advanced from a two-day low in New York as investors bet that shrinking fuel stockpiles in the U.S. indicate demand will increase in the world’s biggest crude- consuming nation.  More »

TransCanada touts proposed oil pipeline’s safety

A Canadian company that wants to build a massive pipeline linking Alberta’s oil sands to U.S. refineries says it would include safety measures to prevent a spill like the one that fouled the Yellowstone River last month.  More »

Venezuela, Iran seek to boost dialogue within OPEC

The presidents of Venezuela and Iran have agreed to work together within OPEC as economic concerns weigh on world oil prices.  More »

Oil falls on concern about German economy

Oil prices fell below $87 a barrel today in Asia, snapping a week of gains that were fueled by investor optimism the global economy may not slow as much as feared in the second half.  More »

Shell’s reputation hit by North Sea oil spill

Royal Dutch Shell has shut down the main leak at one of its North Sea oil rigs but said today it is struggling to stop a secondary spill in a hard-to-reach part of the ocean floor.  More »

China mulls lawsuit over Bohai Bay oil spill

China’s oceanic administration says it is preparing to sue the local unit of ConocoPhillips for damages to the environment resulting from offshore oil spills that began in June.  More »

Blame Obama for National Oilwell Varco’s $1.5 bln Brazil deal

The emails still come in at least a couple of times a month, although what once was a flood has, thankfully, slowed to trickle. The argument is this: President Obama gave $2 billion of our tax money to Brazil so it can expand its offshore oil industry while he opposes drilling at home. The Brazil’s [...]  More »

Blame Obama for National Oilwell Varco’s $1.5 bln Brazil deal

The emails still come in at least a couple of times a month, although what once was a flood has, thankfully, slowed to trickle. The argument is this: President Obama gave $2 billion of our tax money to Brazil so it can expand its offshore oil industry while he opposes drilling at home. The Brazil’s [...]  More »