Category: Crude oil

Macquarie fund buys terminals business in American expansion

A fund managed by Macquarie Group Ltd. agreed to take full control of a U.S. bulk liquid terminals operation for $1.03 billion in cash and stock as Australia’s largest investment bank expands its North American businesses.  More »

Moody’s: Iraqi violence isn’t likely to affect oil company credit ratings

Sectarian violence in Iraq probably won’t affect credit ratings of major oil companies operating there, Moody’s Investors Services predicts.  More »

Oil slips below $104 as Libya set to boost exports

U.S. crude for August delivery fell 53 cents to close at $103.53 a barrel.  More »

Industry raids universities for oil engineering talent

Universities are in a constant struggle to hire and retain enough professors to keep up with surging enrollment in petroleum engineering programs nationwide.  More »

Foreign investors turn eyes to ND oil patch

Foreign investors more familiar with projects in the emerging markets of Eastern Europe and tropical escapes of Southeast Asia are finding a new destination for their dollars and francs: Western North Dakota’s oil patch that’s home to booming towns, low unemployment rates and high incomes  More »

Crude oil futures slip as Iraq risks recede

U.S. crude for August delivery fell 42 cents to $104.06 a barrel.  More »

Research links Oklahoma quakes to drilling activity

A recent surge in central Oklahoma earthquakes is likely linked to the disposal of oil and gas wastewater in a handful of high-volume underground wells in the state, according to research released Thursday.  More »

Quebec town still recovering from train disaster

A year has passed since a runaway oil train slid quietly down a hill in the middle of the night and derailed in a series of explosions that obliterated a large swath of downtown Lac-Megantic, killing 47 people.  More »

Enterprise completes Cushing-to-Gulf pipeline

Enterprise Products Partners said Thursday it has constructed a 512-mile twin to its Seaway crude pipeline running from the oil-tank hub in Cushing, Okla. to the storage units on the Gulf Coast, about 60 miles south of Houston.  More »

Lawsuit aims to block US-approved Nevada drilling

The Bureau of Land Management concluded in an environmental analysis in February that energy exploration resulting from the sale of the leases would have little or no impact across about 270 square miles of central Nevada’s Lander, Nye and Esmeralda counties.  More »

Trains keep rolling from Permian Basin

Trains will roll all month out of the Permian Basin, the largest onshore U.S. oil field, as production outpaces pipeline capacity and a refinery outage saps demand.  More »

Democrats challenge administration’s move on oil exports

Two Democratic senators are challenging the Obama administration’s decision to allow a pair of Texas companies to sell barely processed ultra-light oil overseas, suggesting that the rulings run afoul of the decades-long ban on exporting U.S. crude.  More »