Category: Crude oil

Noble Energy cuts 220 jobs

Noble Energy has slashed 220 jobs, the company announced Tuesday, joining a growing list of oil firms trimming their rolls as they struggle to rein in spending amid falling oil prices.  More »

Plains boosts distribution for first quarter 2015

Pipeline company Plains All American said it would pay its unitholders $0.685 in May.  More »

The fight over oil money in a split Libya is complicating the country’s efforts to boost exports

Libya, holder of Africa’s largest oil reserves, has been split since last year when a coalition of Islamist militias captured Tripoli, forcing the elected government to move to the eastern region.  More »

North Dakota will send more oil tax revenue to boom towns grappling with growth

North Dakota’s state fund currently sets aside 75 percent of some oil tax revenues for the state and 25 percent for local governments.  More »

Oil train tank cars need urgent upgrades

The industry in 2011 voluntarily adopted rules requiring sturdier tank cars for hauling flammable liquids such as oil and ethanol. But cars built to the new standard split open in at least four accidents during the past year.  More »

Cheap oil is squeezing property owners in energy hubs

The 50 percent plunge in crude values since June is already dragging down property prices in Texas.  More »

TransCanada CEO cites new Beluga whale protections in delaying Energy East pipeline

TransCanada’s has said it won’t build an oil export facility in Québec as part of its Energy East pipeline project.  More »

Record gasoline output to curb biggest U.S. oil glut in 85 years

Refiners are enjoying the best margins in two years as they finish seasonal maintenance of their plants before the summer driving season.  More »

Louisiana oil port, made for import, rents domestic storage

The Louisiana Offshore Oil Port recently auctioned 11.3 million barrels of monthly storage space and has scheduled another auction Tuesday, The Advocate reported.  More »

Energy executives create new company in Tulsa

The five businessmen, who have all spent time at oil and gas company Apache Corp., say the company will focus on producing oil and natural gas liquids.  More »

Ruble trims weekly gain with stocks after oil drops on Iran deal

The ruble’s strength amid weaker oil prices risks exacerbating a budget shortfall that’s forecast to be the widest since 2010.  More »

Iran moves closer to restoring oil exports on nuclear accord

Minutes after the deal was announced, Brent crude, the global benchmark, fell as much as 5.4 percent.  More »

Oil sands developer denied bid to restructure in Canada

Connacher, an oils-sands developer, was seeking an Alberta court’s approval to swap C$1 billion ($796 million) of bonds for equity and to issue $35 million of convertible notes.  More »

North Dakota orders 5 companies to reduce oil production in state

The five companies were ordered this month to reduce production to 100 barrels per day at certain wells or risk facing daily penalties.  More »

Oil extends losses after Iran, world powers agree outline deal

Oil extended losses after Iran and world powers said they reached an outline accord that keeps them on track to end a decade-long nuclear dispute.  More »
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