Category: Crude oil

Shell says oil spill strikes Nigeria pipeline

Royal Dutch Shell PLC says one of its pipelines running through Nigeria’s oil-rich southern delta has spilled crude oil in the region, causing unknown damage.  More »

Exxon follows ex-BP CEO Hayward into Kurdish bonanza

Exxon Mobil Corp. (XOM) Chief Executive Officer Rex Tillerson is playing catch-up with a former rival, ex-BP Plc CEO Tony Hayward, in a race to tap oil riches in Iraq’s Kurdish region that dwarf the deep-water Gulf of Mexico.  More »

Crude oil trading near its highest price since July

Oil traded near the highest level in more than three months as Italy started building a new government that may help contain the European debt crisis and Japan reported its first economic growth in a year.  More »

Libya oil output could reach 800K barrels by end of 2011

Libya, the holder of Africa’s biggest oil reserves, will produce as much as 800,000 barrels of crude a day by the end of this year, the chairman of state-run National Oil Corp. said.  More »

Support for federal backing of renewables falls, poll finds

Public support for putting federal money toward research on certain renewable energy sources has fallen significantly since early 2009, with virtually all the decline coming from Republicans, a new Washington Post-Pew Research Center poll found.  More »

Exxon’s Kurdish exploration may scuttle other Iraq projects

Exxon Mobil Corp., the U.S. oil company that helped engineer a 48 percent production increase from Iraq’s West Qurna field in one year, risks a backlash from that nation’s central government by signing exploration deals with semi-autonomous Kurds.  More »

The changing face of North American energy

The blog will probably be rather quiet today, because I’m attending, and participating in, a seminar at the University of Houston that’s examining the changing outlook for North American energy. Among the topics: the impact of hydraulic fracturing and the now-delayed Keystone XL pipeline on the future of U.S. energy. While the Obama administration opted [...]  More »

The changing face of North American energy

The blog will probably be rather quiet today, because I’m attending, and participating in, a seminar at the University of Houston that’s examining the changing outlook for North American energy. Among the topics: the impact of hydraulic fracturing and the now-delayed Keystone XL pipeline on the future of U.S. energy. While the Obama administration opted [...]  More »

Deepwater operator Pacific Drilling makes NYSE debut

Pacific Drilling — backed by the son of the late Israeli billionaire Sammy Ofer — will operate its fleet of six deepwater drillships from Houston.  More »

China: ConocoPhillips oil spills due to negligence

Chinese authorities say oil spills in the Bohai Bay from an oil field operated by a ConocoPhillips subsidiary were caused by negligence.  More »

Offshore lease sale set for December

The Department of Interior says it has set a December date for the next Gulf offshore oil and natural gas lease sale — the first such sale since the Deepwater Horizon explosion and BP oil spill.  More »

Energy companies spent $750 million lobbying for hydraulic fracturing

Oil and gas companies that hydraulically fracture wells spent $747 million lobbying federal policymakers and contributing to lawmakers’ campaigns from 2001 through late 2011, an advocacy group said today. Common Cause says its findings reflect industry’s desire to avoid federal regulation.  More »

Transocean risks junk grade as cash flow ebbs

Transocean Ltd. is at the greatest risk of being cut to junk-bond status in almost a year as its cash flow is squeezed by tougher safety rules and a glut of drilling rigs.  More »

Administration delaying Keystone XL decision

The Obama administration is set to announce soon it will consider a new route for the Keystone XL oil pipeline — a move that would delay a final decision on the controversial project until after the 2012 election. The move would solve a political dilemma for President Barack Obama, who risked alienating key voting blocs ahead of the November 2012 election no matter what decision he made  More »

Crude oil creeps toward $100 mark again

Oil prices jumped more than 2 percent today as investors cheered political shake-ups in Greece and Italy, and layoffs appeared to be easing in the U.S.  More »