Category: Crude oil

ND oil patch ambulance services seek staffing help

Four ambulance services in the western North Dakota oil patch have formed a nonprofit group that is seeking grant money to hire part-time staff to fill scheduling gaps.  More »

Oil above $108 as US data points to faster growth

Oil sat above $108 a barrel Friday, the highest since March last year, after being boosted by new signs of improvement in the U.S. economy.  More »

US Gulf oil profits lure $16 billion more rigs by 2015

The deep-water Gulf of Mexico, shut down after BP Plc (BP/)’s record oil spill in 2010, has rebounded to become the fastest growing offshore market in the world.  More »

Opinion: Lift the ban on U.S. oil exports

The last time serious talk about exporting oil was heard in Washington, the Soviet Union still loomed, the Reagan Revolution had yet to take place and the National Basketball Association had an equitable distribution of talent.  More »

Commentary: “Celebrities Against Fracking”? Please…

In a sea of valid facts and concerns coming from both the “pro” and “anti” hydraulic fracturing groups, I think we can all agree that in contrast celebrities provide the LEAST reliable frame of reference from which to carry on the discussion and create nothing but “noise” that prevents real progress from being made.  More »

BP to explore third deepwater South China Sea block with Cnooc

BP Plc (BP/), Europe’s second-largest oil company, signed a deal for a third block in the South China Sea with Cnooc Ltd. (883), the country’s biggest offshore explorer.  More »

Houston partnership boosting acreage in Permian Basin, Rockies

A Houston-based oil and gas partnership is building out its portfolio with properties in the Permian Basin, East Texas and the Rockies that it is buying for roughly $600 million.  More »

Gasoline prices surge nationwide

Gasoline prices surged across the country over the last week, jumping especially high in Houston as crude oil prices soared.  More »

Exxon’s $735 million Ukraine pledge shows Black Sea zeal

Exxon Mobil Corp (XOM). is so confident of prospects in the unexplored Black Sea it will spend $735 million to drill just two deep-water wells off Ukraine’s coast.  More »

Chevron expects weak second quarter as production drops

Chevron expects a weaker second quarter performance, driven by lower oil prices and lower international oil production for the second quarter, a result of maintenance and turnaround activity, the company said in an interim update issued Thursday morning.  More »

IEA sees 20-year supply peak outpacing demand in 2014

Oil supply will outstrip an acceleration in demand growth next year as production outside of OPEC expands at the fastest pace in 20 years, the International Energy Agency predicted.  More »

Suez halt would boost crude even as supply continued, IEA says

A blockage of Egypt’s Suez Canal or at a crude pipeline linking the Red Sea and Mediterranean may cause oil prices to rise even as alternative transit routes help maintain supplies, the International Energy Agency said.  More »