Category: Crude oil

Farmer finds oil spill while harvesting wheat

A North Dakota farmer who discovered an oil spill the size of seven football fields while out harvesting wheat says that when he found it, crude was bubbling up out of the ground.  More »

Growth in non-OPEC oil will reach highest since 1970s

The International Energy Agency estimates that oil producers outside OPEC, led by the U.S., Canada and Kazakhstan, will bolster supplies next year by the most since the 1970s, undermining the need for OPEC’s crude.  More »

US attorney: 12 indicted in Bakken drug ring

A dozen people have been indicted on federal charges alleging they were involved in a ring that distributed methamphetamine in the Bakken oil patch along the North Dakota border, and in other cities and towns across Montana, authorities said.  More »

OPEC curbing supply to two-year low sees sluggish fuel demand

The Organization of Petroleum Exporting Countries predicted “sluggish” fuel demand and increasing supplies this winter as the group’s output dropped to the lowest in almost two years amid losses in Iraq.  More »

Data show China passing US as biggest oil importer

China has achieved another world-beating status its leaders don’t want: Biggest oil importer.  More »

Kinder Morgan expanding Eagle Ford pipeline to new facility

Kinder Morgan Energy Partners is tacking on 18 miles of lateral pipeline in the Eagle Ford Shale to carry crude from its DeWitt County, Texas station northwest to a new facility it will build in Gonzales County.  More »

Washington pulls permits for two oil train terminals

Officials are rejecting permits for two major oil-train terminals in Southwest Washington after deciding the projects should face more environmental scrutiny.  More »

Petrobras’s oil declines lure Gradin family offshore

The Brazilian billionaire Gradin family is spending $500 million on three offshore vessels to help Petroleo Brasileiro SA (PETR3), the biggest oil producer in deep waters, reverse declining output at its biggest production zone.  More »

Noble Energy takes a production hit on Colorado floods

Drilling is back to normal in the DJ Basin, where Noble produced 90,000 barrels per day in the third quarter. But battered roads have curbed the company’s efforts to complete production at its wells, and that could send its volumes down by 5,000 to 7,000 barrels per day in the fourth quarter.  More »

North American oil will grow even if price shrinks, analyst says

North American oil production will likely continue growing even if prices fall as low as $60 a barrel, an analyst said at a Houston conference Tuesday.  More »

Arctic oil discovery heralds more finds in Norway’s Barents Sea

Norway may see a series of Arctic oil finds after a well produced crude from a previously unproductive layer of rock, explorer Lundin Petroleum AB said.  More »

Three Eagle Ford counties are Texas’ biggest oil producers

Texas Railroad Commission preliminary data shows Karnes County wells produced more than 4.53 million barrels of oil in July – the most in the state.  More »