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Nigeria tries to diversify beyond oil

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Long known as one of the world’s most prolific sources of oil, Nigeria is trying to diversify its economy by seeking U.S. investment in agriculture, health care and entertainment. But oil will remain key to its economy.
Categories: Africa, Crude oil, General
Marathon Oil's corporate headquarters in Houston.  (AP file photo/Pat Sullivan)

Marathon Oil making big Eagle Ford push in 2013

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Marathon Oil Corp. plans to make a big push in its Eagle Ford shale play next year with more than a third of its $5.2 billion capital budget for 2013 devoted to the South Texas operation.
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Producers watch the clock in Eagle Ford

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The rush is on in the Eagle Ford Shale, and some of it has more to do with legal contracts than extracting oil and gas from miles below the surface.
Fire crews sprayed water on the blazing remnants of BP's Deepwater Horizon offshore oil rig. (AP file)

Steffy: Suspension sends powerful message to BP

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Wednesday’s sale of federal offshore oil and gas leases in the Gulf of Mexico may offer a glimpse of what’s to come. BP wasn’t there.
Crabber Dung Tran, a Vietnamese immigrant, says the Gulf oil spill destroyed 300 of his crab traps and diminished the harvest. (Photo: Emily Pickrell, Houston Chronicle)

For these spill victims, legalese is just one language barrier

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Even the lawyers and accountants poring through the 1,200-page Gulf oil spill settlement sometimes grumble about deciphering the intentions in its legal language, and Vietnamese immigrant crabber Dung Tran faces an even more daunting language barrier.
A rig drills for natural gas in the Sonora Field in the Permian Basin. (AP Photo)

Texas oils weaken as Phillips 66 works to start Borger refinery

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Texas oils declined as Phillips 66 (PSX)’s refinery at Borger, Texas, remained shut for maintenance longer than expected, cutting demand for crude.
Categories: Crude oil
(AP Photo/Hasan Jamali)

Iran says plans to raise crude oil production

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Iran’s oil minister has said the country plans to increase its oil production capacity to up to 5.2 million barrels per day by early 2016.
Categories: Crude oil

Russian Oil Production to 2020

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Uncertainty whether Russia can maintain its high level of oil production continues – 10.7 million b/d in 2012 to date on average. A new more benign tax regime recently put into place and significant industry investments may plausibly enable the Russian…

Will Oil Take Part In The Santa Rally?

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For some reason, an oddball story this week about a man and some Olympic-themed donuts struck a chord with me. To overcome his fear of repeatedly being turned down for investment in his technology start-up, Jai Jiang decided to make at least one crazy request a day for one hundred days, with the goal of becoming […]
Categories: Crude oil
In this image provided by CBS, Susan Rice, U.S. ambassador to the U.N. speaks on "Face the Nation" in Washington, Sunday, Sept. 16, 2012. A deadly assault on a U.S. consulate in Libya was a spontaneous reaction to an anti-Muslim video, the Rice said Sunday, even as Libya's president insisted the attackers spent months preparing and carefully choosing their date - the anniversary of the Sept. 11 terrorist attacks. (AP Photo/CBS News, Chris Usher)

Rice’s holdings in oil sands pipeline may pose conflict

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Susan Rice’s holdings in an energy company seeking State Department approval for an oil pipeline from Canada may pose a conflict of interest if she is nominated to become U.S. secretary of state.
Categories: Crude oil