Category: Crude oil

Companies at work on blowout preventers for deeper depths

GE Oil & Gas and others are working to create blowout preventers that can work at deeper depths and higher pressures.  More »

Mexico lower House passes final oil bills, sends them to Senate

Mexico’s Lower House early passed the last package of bills to regulate an end to Petroleos Mexicanos’s state-oil monopoly, sending the legislation to the Senate for final approval after making minor changes on pension and retirement issues.  More »

Houston refinery no longer will buy Kurdish crude

Chemical giant LyondellBasell acknowledged past purchases of modest amounts of what it called “Iraqi crudes” to process at its Houston refinery but said future buys have been canceled until the ownership dispute is settled.  More »

Chevron 2Q profit up on asset sales, oil prices

Global production slipped, however, to 2.55 million barrels per day of oil and gas from 2.58 million barrels per day last year  More »

Some Preposterous Data Points across the Energy Landscape

If this tortoise could talk, I’m pretty sure he would say ‘preposterous’ in response to what you are about to read. For the wild and wacky world of energy has revealed some preposterous notions in the last week or so. Here are but a few of them.  –First up we are talking trash, for only 1% […]  More »

3 West Coast governors oppose offshore drilling

The Interior Department is developing an updated plan for its Outer Shelf Oil and Gas Leasing Program, and the governors formally stated their opposition to the inclusion of any oil or gas lease sales off the coast as part of any new plan.  More »

Northern Courier Approval Highlights Pipeline Politics

In stark contrast to the continuing delay of the Keystone XL pipeline project, Trans Canada’s Northern Courier pipeline project has gone from initial application to regulatory approval in a mere 16 months. The Northern Courier project is actually two parallel pipelines, one to carry bitumen and another to carry diluent from the Fort Hills mine […]  More »

Company hired to offload crude no longer obligated to perform the job

The company hired to offload a disputed load of Kurdish crude is off the hook from carrying out that contract.  More »

Shell beats estimates, takes gas writedown

Royal Dutch Shell, Europe’s biggest oil company, beat analyst second-quarter earnings estimates while pushing ahead with a restructuring program that saw it write off about $1.9 billion in U.S. gas assets.  More »

Energy companies keep taking on debt to finance new projects

As oil prices and cash flows remain flat, energy companies are turning to lines of credit and selling off assets to keep up the pace of investment, according to a report from the U.S. Energy Information Administration.  More »

Exxon Mobil restarts Pegasus pipeline in Texas

Exxon Mobil has restarted a section of its Pegasus pipeline in Texas more than a year after a crude oil spill in central Arkansas forced the company to shut down the entire line, a spokesman said.  More »

Tesoro reports slight drop in earnings

The company’s net income fell to $224 million, or $1.70 a share, compared with $227 million, or $1.64 a share, for the second quarter of 2013.  More »