Category: Crude oil

Senate passes overhaul of oil tax structure

A divided state Senate late Wednesday passed an overhaul of Alaska’s oil tax structure, amid fears it will blow a hole in the state budget and give too much to oil companies with no guarantees.  More »

Gulf oil spill judge tosses claims against M-I Swaco, Cameron

A federal judge Wednesday threw out all claims against one of the companies that provided services to the ill-fated Macondo well project and tossed punitive damages claims against a second, but he refused to dismiss claims against the three main firms involved _ BP, Transocean and Halliburton.  More »

Phillips 66 signs deals to use more U.S. shale crude

Kicking its strategy of using cheaper crude oil from U.S. shale plays into high gear, Phillips 66 has signed deals with three midstream companies to bring as much as 130,000 barrels a day of North American crude oil to its refineries.  More »

Newfield CEO seeks ’certainty’ in U.S. amid planned Asian sale

Newfield Exploration Co. (NFX), which is exploring the sale of its offshore assets in Malaysia and China, said it will be able to expand production more dependably by focusing on North America.  More »

3rd NY town wins in court over fracking ban

A third upstate New York town has won a court challenge to its ban on natural gas drilling as two previous cases are about to be argued before a state appeals court.  More »

Next big oil boom could come in northwestern NM

Executives from some of the nation’s biggest oil and gas companies said Monday that the next big oil boom could take place in northwestern New Mexico.  More »

Halliburton official destroyed notes of cement test related to Gulf oil spill

A former Halliburton lab manager testified Tuesday that a company official asked him not to record results of a cement stability test related to the well in the 2010 Gulf oil spill disaster.  More »

All eyes on Alaska Senate ahead of expected oil tax vote

Both sides are ratcheting up the rhetoric on oil taxes ahead of this week’s expected vote in the Alaska Senate.  More »

Oil-rich area may not get tax windfall

If South Texas’ oil-producing counties thought this was the year they finally would tap deep reserves of state funding for the crumbling roads, lack of housing and increased water demands brought on by their energy boom, they might want to think again.  More »

From orbit to drill bit, NASA exes bring deep understanding of risk

When the shuttle program ended with the last flight of Atlantis in 2011, thousands of workers at NASA’s Johnson Space Center hoped that their skills would transfer over to Houston’s booming energy business.  More »

Some companies don’t wait for lightning to strike

Lightning strikes are the most common cause of accidents involving storage tanks at refineries and petrochemical plants, according to a study in the Journal of Loss Prevention in the Process Industries.  More »

Statoil, Exxon make third ‘high-impact’ gas find off Tanzania

Statoil ASA (STL), Norway’s largest energy producer, reported a third “high-impact” natural-gas find off Tanzania and increased its resource estimate for the block to as much as 17 trillion cubic feet.  More »