Crude oil prices grew for the first six months of 2014, hitting their peak in June at $107. That helped boost the economies of states like Alaska and North Dakota, where the oil and gas industry are big employers and help bolster state budgets. More »
The deal marks the end of a six-year federal probe into the company’s activities in two Middle Eastern countries, which found the U.S.-based subsidiary “took steps to disguise” its overseas dealings for several years. More »
Light, sweet crude flowing out of the Eagle Ford would attract higher, premium prices on the world market, if those oil exports weren’t prohibited by U.S. trade policy, a Rice University study concludes. More »
Washington Sen. Maria Cantwell on Wednesday said the measure would ban the use of older tank cars, regulates the volatility of crude oil carried on trains and ensures that rail infrastructure is properly maintained. More »
The number of drill rigs operating in the San Juan and Permian basins has dropped from 85 to 60 over the past year, and state energy Secretary David Martin said each rig directly employs 50 workers and another 50 to 70 in support jobs. More »
The divestment is part of Shell’s strategic review of its onshore portfolio in the West African nation and “is in line with the Federal Government of Nigeria’s aim of developing Nigerian companies in the country’s upstream oil and gas business,” it said in a statement on Wednesday. More »
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