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Texas company to pay $170,000 for 2010 Wyoming oil spill

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In March 2010 162 barrels of crude oil discharged from a pipeline into a tributary of the Norwood River. The spill has been fully cleaned up.
A worker from Oceanografia SA walks down a set of stairs on a section of the Petroleos Mexicanos (Pemex) Pol-A Platform complex, located on the continental shelf in the Gulf of Mexico, 70 kilometers offshore from Ciudad del Carmen, Mexico, on Friday, March 28, 2014. "Production is stable and we foresee production reaching our target levels above 2.5 million barrels per day,? Pemex chief executive officer Emilio Lozoya said in an interview last week. Photographer: Susana Gonzalez/Bloomberg

Oil majors shun Mexico offshore auction as blocks go unsold

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Exxon Mobil Corp., Chevron Corp. and Total SA all passed on the first 14 shallow-water oil blocks auctioned by Mexico today in the country’s first-ever sale of territory in the Gulf of Mexico. Only one of Mexico’s first five oil blocks auctioned received a qualifying bid.
(AP Photo/Hasan Jamali, File)

Iran oil boost on hold to 2016 as nuclear inspectors go to work

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OPEC’s fourth-largest member won’t achieve a crude-export boost of more than 500,000 barrels a day, or about 50 percent, until next year as Iran’s compliance with curbs on its nuclear program is verified, a pair of banks said.
Over thirty oil drilling rigs are idle in a Helmerich & Payne, Inc. yard along Groening Street in Odessa, Texas, as rig counts drop in the Permian Basin, Monday, May 18, 2015. (Courtney Sacco/Odessa American via AP)

Sabine sixth U.S. producer to seek bankruptcy protection this year

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Sabine Oil & Gas Corp. is seeking Chapter 11 bankruptcy protection, making it the sixth and the largest U.S. oil producer yet to file for bankruptcy because of cheap oil prices.
In this July 29, 2010, photo, oil and water flow down Ceresco Dam as oil spill clean up continues along the Kalamazoo River near Ceresco, Mich. (AP Photo/Detroit Frtee Press, Andre J. Jackson)

Michigan wants to ban heavy oil from an Enbridge pipeline running under a Great Lakes waterway

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The Great Lakes would be at “greatest risk” from a spill of “diluted bitumen” oil from Canada’s tar sands region, according to Attorney General Bill Schuette and Department of Environmental Quality Director Dan Wyant, who led a yearlong task force studying pipeline issues.
(AP Photo/Matthew Brown, File)

North Dakota is seeing fewer passenger and freight rail delays due to drilling decline

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Rail currently accounts for about half of North Dakota crude oil shipments, down from a high of 75 percent two years ago.
Roughnecks take a break from working the Peterson Drilling Company rig in Carlsbad, New Mexico, February 26, 2000.  (Photo by Joe Raedle)

Judge could halt oil drilling permits in Mancos Shale

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Two oil companies have drilled 150 wells since 2011 into the hard shale covering oil in the Mancos, an area made accessible through new techniques like horizontal drilling and hydraulic fracturing.
From left to right: European Union High Representative Federica Mogherini, Iranian Foreign Minister Mohammad Javad Zarif, Head of the Iranian Atomic Energy Organization Ali Akbar Salehi, Russian Foreign Minister Sergey Lavrov, British Foreign Secretary Philip Hammond and US Secretary of State John Kerry pose for a group picture at the United Nations building in Vienna, Austria, Tuesday, July 14, 2015.  (Joe Klamar/Pool Photo via AP)

What Iran’s nuclear deal means for the global crude oil market

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After almost two years of talks, the holder of the world’s fourth-biggest crude reserves will benefit from an easing of international sanctions on exports in return for curbs on its nuclear program.
Original byline: Jim Blecha/

WPX Energy agrees to buy Permian producer for $2.35 billion

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WPX will also assume $400 million in debt, according to a statement today.
Birds fly as pedestrians watch tug boats transport the Chevron Corp. Jack St. Malo semi-submersible drilling and production platform to the Gulf of Mexico from Kiewit Offshore Services in Ingleside, Texas, U.S., on Friday, Nov. 15, 2013. Chevron Corp. expects its $7.5 billion Jack/St. Malo platform to begin producing oil and gas in 2014, with a long-range target of 177,000 barrels per day. Photographer: Eddie Seal/Bloomberg

Oil rig repairer files bankruptcy, aims to end worker suits

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The Retirement Systems of Alabama, a public pension system that already owned a minority of the company and was a lender, has agreed to buy the company and lend it money while in bankruptcy. Signal says it has agreed to settle the Indian workers’ claims for $20 million as part of the bankruptcy.