Category: Crude oil

U.S. crude exports hit recent high

U.S. Census Bureau data places U.S. crude exports at about 390,000 barrels per day in June, a 35 percent increase from May. That’s a tall figure, especially considering that U.S. exports of domestically produced crude are severely restricted by a 1975 federal law.  More »

Gasoline futures rise, crude oil keeps declining

Refineries slowed their operations, pushing gasoline inventories down by the most in four months.  More »

Ebola outbreak threatens oil-producing Nigeria

So far the ebola virus outbreak in Africa isn’t much affecting energy operations there, but that could change with reports that the disease has reached Nigeria, the continent’s most populous nation and a major oil producer.  More »

EOG touts its latest Permian play

EOG Resources Inc. executives said Wednesday they’re optimistic about the prospects for the Second Bone Spring Sand, its latest target for drilling, which sits beneath the Leonard Shale in southeast New Mexico.  More »

New pipeline to move stranded oil from Eaglebine

An Oklahoma firm is planning a pipeline to carry crude docked at the ancient meeting place of shale and sandstone formations in East Texas to Houston’s oil refining hub.  More »

Venezuela says Citgo assets worth more than $10 billion

PDVSA is seeking to sell Citgo assets, the U.S. unit said in a July 29 bond prospectus document.  More »

Oil falls to 6-month low on refinery outlook

Oil dropped 91 cents, or 0.9 percent, to close at $97.38 a barrel on the New York Mercantile Exchange.  More »

North Dakota crude no more dangerous than similar fuels, report finds

HOUSTON — An industry-funded study released Monday concluded that the oil from the Bakken region doesn’t pose a greater risk to transport than other similar, types of crude. The study is the most scientific analysis of the region’s crude so far, the North Dakota Petroleum Council said. The group hopes the report allays fears that […]  More »

Grouse measures defer drilling in much of Wyoming

The total area of federal oil and gas leases deferred in Wyoming to protect the greater sage grouse — ahead of next year’s expected decision on whether the bird is a threatened or endangered species — substantially exceeds the combined size of Yellowstone and Grand Teton national parks, U.S. Bureau of Land Management figures show.  More »

North Dakota’s crude production continues to grow on strength of Bakken, Three Forks

Drillers are gaining new insights into the geologies of the Bakken Shale in North Dakota, where production is topping 1 million barrels a day.  More »

Parnon, Arcadia to pay $13 million in price-rigging suit

Parnon Energy, an oil logistics company, and London-based oil trader Arcadia Petroleum Ltd. agreed to pay $13 million to settle a U.S. regulator’s claims they manipulated oil futures prices.  More »

Linn to buy $340M in assets from Pioneer, sell in Anadarko Basin

HOUSTON — Linn Energy inked a $340 million deal to buy 235,000 net acres in the Hugoton Basin from Pioneer Natural Resources Co. and announced a $90 million sale in the Anadarko Basin. The deals, done by Linn Energy and its related LinnCo, are the latest in a string of acquisitions and sales the company […]  More »