Category: Crude oil

Former Indiana oil storage site to be cleaned up

A former oil storage site in southern Indiana that’s tainted with petroleum wastes will be cleaned up by the state’s environmental agency through a yearslong effort that begins this month.  More »

Low energy return on investment (EROI) need not limit oil sands extraction

This is a guest post by Adam Brandt, Assistant Professor from Stanford University, Department of Energy Resources Engineering. 1. Introduction Low energetic returns (e.g., EROI, NER) from oil sands extraction and upgrading have been noted as a potentia…  More »

Petrobras’s biggest oil discovery brings cost concerns

Investors in Petroleo Brasileiro SA (PBR), the world’s most indebted oil company, aren’t celebrating Brazil’s biggest-ever crude discovery.  More »

Kinder Morgan to pay fines for drilling violations

Kinder Morgan will pay up to $220,000 in fines for environmental violations at carbon dioxide wells it drilled last year between Cortez and Dove Creek.  More »

Reliance to spend $26 billion over 3 years to expand businesses

Reliance Industries Ltd. (RIL)’s billionaire Chairman Mukesh Ambani plans to spend 1.5 trillion rupees ($26 billion) over the next three years to expand business ranging from gas production to telecommunications.  More »

Schools addressing students’ fossil fears without divesting

Divesting university endowment holdings from fossil fuel companies may be technically and financially difficult, and schools considering doing so in response to student campaigns may want to consider alternatives, investment professionals say.  More »

An Undergraduate Degree Is Just the Beginning For Young Professionals In Oil & Gas

If you think showing up and doing a good job alone will get you to the top, think again. Furthering your education proves that you have a desire to learn more, and that you can set long term goals and follow through on them. Those pursuing graduate degrees (especially those doing so while they work) work very hard, and everything else being equal, the extra qualification could mean the difference between promotion and stagnation.  More »

Houston’s Wapiti Energy spends $375 million on producing properties

The majority of the properties are operated oil fields in Texas with long-lived proved reserves of 23.2 million barrels of oil equivalent.  More »

Statoil delays Castberg oil project amid unexpected tax rise

Statoil ASA (STL) delayed the investment decision for the Johan Castberg oilfield in the Barents Sea amid uncertainty over costs and resources and after the government unexpectedly raised taxes on oil and gas producers.  More »

Workers’ unsafe behavior triggers most terminal accidents, expert says

More training, standards and evaluation of workplace performance are needed to prevent accidents at bulk liquid storage terminals that handle crude oil, chemicals and other products, a safety expert said Tuesday at an industry conference.  More »

Large oil firms hit record U.S. spending in 2012, as profits drop

Oil and gas companies are continuing to increase their investment into North American exploration, reaching a record $185.6 billion for capital expenditures in 2012, according to a study on oil and gas reserves released on Tuesday morning.  More »

Texas Petro Index shows stability, modest growth

Stable crude oil prices, modest gains in drilling rig counts and a growing number of drilling permits added up to modest growth in Texas oil and gas activity as measured by the Texas Petro Index for the first four months of the year.  More »