Category: Crude oil

Tumbling oil prices punish hedge funds betting on gains

Hedge funds increased bets on rising oil prices just before crude futures tumbled to a 17-month low on signs that global supply is outstripping demand.  More »

Drones could be used on North Dakota oil fields

While the commercial use of drones is largely banned, the Federal Aviation Administration allowed oil giant ConocoPhillips to use unmanned aircraft systems in Alaska’s Prudhoe Bay oil field last year and granted a similar permission to BP there in June.  More »

Cheniere considers condensate export facility near Corpus Christi

The Houston-based company is negotiating to buy 552 acres in an industrial site along the La Quinta Ship Channel for a condensate storage and shipping project which could cost between $400 and $600 million.  More »

West Texas crude settles below $90 a barrel

“You are seeing pretty good growth in oil supply and that’s weighing on the market,” an investor says.  More »

The More Things Change, The More They Stay The Same

The above phrase is from the translation of  ’plus ça change, plus c’est la même chose‘ by the French novelist Jean-Baptiste Alphonse Karr. Regardless, not only is it great, but also highly applicable to a veritable selection of shenanigans going on across energyland™.  First up – or actually first and second up, are two examples […]  More »

Dune Energy investor challenges buyout deal

A shareholder of Dune Energy is trying to stop a $21.9 million outside bid to buy the small Houston oil producer even as it makes a deal with lenders to avert debt default while it consummates the deal.  More »

Refiners: We can take all your oil

Refiners opposed to oil exports said Thursday they have more than enough plants and equipment to swallow up all of the light, sweet crude flowing out of U.S. wells, countering the chief argument of oil producers hoping for a new era of overseas sales.  More »

Crude prices fall as Saudi Arabia cuts prices

Oil for November delivery declined 43 cents, or 0.5 percent, to close at $90.73 a barrel.  More »

Enterprise Products proposes $6B buyout of crude transporter Oiltanking

Enterprise Product Partners said Wednesday that it had acquired the general partner of Houston-based crude transporter and also proposed a merger for a total $6 billion deal.  More »

Enbridge delays N.D. oil pipeline at least a year

Enbridge is trying to build the 612-mile pipeline to carry 225,000 barrels of oil a day through northern Minnesota to a hub in Wisconsin.  More »

Best path to U.S. energy security? Depends who you ask

Weaning the United States from crude shipped from overseas requires new policy solutions and a shift in thinking, but whether that means incentivizing oil and gas companies to drill more or investing in renewable energy depends on the perspective.  More »

Condensate export numbers trickle out

New government data about crude exports includes information about the first-known U.S. exports of lightly treated condensate, but the real details are hidden from view.  More »