Category: Crude oil

Enbridge asks EPA for extension to finish dredging

Enbridge Inc. has asked the U.S. Environmental Protection Agency for an extension to complete dredging of Michigan’s Kalamazoo River to clean up after a July 2010 oil pipeline spill.  More »

Commentary: Oil diverging further from other assets

Back in late April I wrote a post called ‘Dot-to-Dot-to…Not?’, which joined the dots from mortgage rates to oil prices…and how their price evolution had been counterintuitive to the move in equity markets: the risk aversion exhibited by fixed income markets and caution shown by oil prices did not jive with the emphatic rally seen […]  More »

Commentary: A tough month of July provides plenty of opportunities for reflection

It’s definitely been a rough couple of weeks for everyone in the oil & gas industry. On almost exactly the same day, a blowout lead to the total destruction of a jackup rig in the Gulf of Mexico, and Halliburton admitted to destroying after the Macondo incident cementing-related data. Add to that the death of George Mitchell, and you have one pretty sad month of July, one that I definitely would like to put behind me.  More »

Another crude oil rail terminal slated for Canada

U.S. Development Group, a Houston based developer of rail logistics and terminal facilities, said this week it would work with a Gibson, a Canadian midstream company, to build a rail loading facility near Hardistry, Alberta.  More »

Pipeline to tap into emerging Cline Shale play

Occidental Petroleum Corp. said Tuesday it is moving ahead with a major pipeline to move oil out of the emerging Cline Shale play in West Texas, which has drawn the intrigue of oil companies.  More »

Report: Daily US crude production in July was highest since ’91

U.S. oil production reached 7.5 million barrels a day in July, and will average 7.4 million per day for the full year, according to the latest monthly report from the U.S. Energy Information Administration.  More »

China’s CNPC seen tapping Exxon-Rosneft assets

China National Petroleum Corp. already spent more money this year on energy assets than any other global producer. Oil and gas fields controlled by Exxon Mobil Corp. (XOM) and Russia’s OAO Rosneft may be next on the list.  More »

Tanker-rate slump signals retreat in U.S. oil imports

The biggest slump in tanker rates since January is signaling weaker U.S. oil imports and spurring analysts to predict a 15-year low for shares of Frontline Ltd. (FRO), whose ships haul almost enough crude to meet daily world demand.  More »

Interior secretary to tour North Dakota oil patch

Interior Secretary Sally Jewell is getting a look at North Dakota’s oil and gas development.  More »

Report: Egypt unrest not affecting oil shipments through Suez Canal

Egypt plays a key role in international energy markets by operating the Suez Canal and Suez-Mediterranean, or Sumed, Pipeline.  More »

Energy rigs in U.S. cap longest streak of gains in two years

Rigs targeting oil and natural gas in the U.S. gained for the fifth straight week to the highest level this year as producers boosted natural-gas plays in the Marcellus Shale formation on the East Coast.  More »

Oil patch city wants to be known as ‘Boomtown USA’

A city in the heart of the North Dakota oil patch has a new brand.  More »