Category: Crude oil

OPEC to cut oil exports as consumption wanes, tanker expert predicts

The Organization of Petroleum Exporting Countries will reduce shipments through to mid-September as refiners carry out seasonal maintenance, tanker-tracker Oil Movements said.  More »

China oil majors barred from expanding refineries

Environmental regulators have taken the unusual step of blocking China’s two biggest oil producers from expanding their refining capacity after they failed to meet targets for reducing pollution.  More »

International crude market is adequately supplied, IEA says

The global oil market is adequately supplied and doesn’t require the release of emergency stockpiles, according to the International Energy Agency.  More »

Nobody hurt in South Texas drilling rig fire

Nobody has been hurt in a fiery drilling rig accident in rural South Texas and efforts continue to put out the blaze.  More »

New data shows shifting US energy landscape, as petroleum exports soar

U.S. exports of petroleum products jumped 270 percent between 2005 and 2012.  More »

Commentary: Oil tales through the rupee and rail

More oil is being transported by trucks, barges, and trains than at any point since records began in 1981. Canadian shipments reflect a similarly meteoric rise – 16.6 million barrels of crude were shipped to the US by rail last year.  More »

Libya oil output tumbles as protests spread westward

Libyan oil production fell to one-eighth of its capacity as protests over pay and allegations of corruption spread to fields operated by Eni SpA (ENI) and Repsol SA (REP), executives at the state oil company said.  More »

Working through Tuscaloosa Shale’s complexities

It’s been three years since energy companies began leasing hundreds of thousands of acres in the Tuscaloosa Marine Shale, hoping to cash in on the mother lode: 7 billion barrels of recoverable oil.  More »

FAA Oks drones over Alaska oil area

The FAA has cleared the way for unmanned aircraft, or drones, to fly for the Alaskan oil industry.  More »

More died on the job in Texas last year

Michael Cunningham, executive director of the Texas Building & Construction Trades Council for the AFL-CIO in Austin, hadn’t seen the data but suspects a sizable portion of the increase comes from the surge in oil and gas exploration and production in Texas.  More »

Pioneer’s ‘well-oiled’ Eagle Ford machine

Irving-based Pioneer Natural Resources Co.  says it’s operating a “well-oiled machine” in the Eagle Ford now. Pioneer in the second quarter was making around 38,000 barrels of oil equivalent per day in the region, up from 24,000 barrels in the second quarter of 2012, according to a recent investor presentation.  More »

Oil, gas drilling rigs in U.S. decline by most since March

The total count declined by 15 to 1,776, the largest drop since March 22, data posted on Baker Hughes Inc.’s website show.  More »