Fuel Fix

(Alexander Klein/AFP via Getty Images)
Global oil demand will increase in 2015, the Organization of the Petroleum Exporting Countries said Thursday.

IEA sees higher demand for OPEC crude this year

The Organization of Petroleum Exporting Countries will need to provide an average of 30.7 million barrels a day in the second half, or 800,000 a day more than it pumped last month, the IEA said today.  More »
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Expert: White House likely to lift oil export ban

The White House “will favor” lifting the nation’s 40-year-old ban on exporting oil, a leading energy expert said Wednesday at a symposium in San Antonio.  More »
dollar falling graph

Valero Energy Partners income hit by winter weather

Pipeline and storage company Valero Energy Partners said Wednesday that its first-quarter net income fell 28 percent because of costs incurred as a new publicly traded company and because harsh winter weather stifled demand for products and slowed crude oil supplies.  More »
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“We are reviewing our risk controls and procedures and we continue to strengthen all those areas that did not comply with Citi’s global standards and best practices,” Banamex General Director Javier Arrigunaga said. PHOTO/Emmanuel Dunand/FILESEMMANUEL DUNAND/AFP/Getty Images

Citigroup’s Mexican bank fires 11 in oil scandal

In February, Banamex said oil services company Oceanografia had used falsified invoices as collateral to obtain $585 million in loans.  More »
(Ryan Remiorz, The Canadian Press)

Canada to boost pipeline safety as Northern Gateway ruling nears

Canada is increasing the liability of pipeline operators for spills and giving regulators more power to enforce safety measures.  More »
Oil Barrel

Oil tops $102 on signs of rise in gasoline demand

WTI rebounded last week after the EIA said crude inventories slid from 399.4 million barrels, the highest level since weekly reports were published in 1982. Supplies expanded by 912,000 barrels in the seven days ended May 9, according to the API, which collects information on a voluntary basis from operators of refineries, bulk terminals and pipelines.  More »
A Bakken Shale oil project.(GE)

Shale boom sends U.S. crude production to 28-year high

Output rose 78,000 barrels a day to 8.428 million, the most since October 1986, according to Energy Information Administration data.  More »
(AP Photo/Lynne Sladky)

Argentine court orders probe of Chevron-YPF deal

Argentine President Cristina Fernandez is accused of abusing her power and harming the environment by issuing a decree last year that facilitated the deal.  More »
New Mexico Gov. Susana Martinez applauded the company’s investment in the state. AP

Rangeland building oil and gas hub in New Mexico

New Mexico Gov. Susana Martinez applauded the company’s investment in the state.  More »
Windmills catch the breeze on Stetson Mountain, in Range 8, Township 3, Maine. Gov. Paul LePage is proposing, in the 2014 legislative session, to eliminate the wind energy generation goals in Maine law, which the administration says are unrealistic and must be strengthened to ensure.  (AP Photo/Robert F. Bukaty, File)

Senate debates wind tax credit

Wind energy supporters are hoping to blow past opponents in the Senate, as the chamber considers broad legislation to renew dozens of expired tax breaks — including one credited with making turbines spin in Texas.  More »
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Government acknowledges gaps in oil well inspections

The Interior Department’s BLM is counting on Congress to approve a budget request that would allow it to use $10 million raised from fees charged to oil and gas companies to pay for high-priority inspections.  More »
(Daniel Acker/Bloomberg)

Moody’s: LNG, power demand driving shift in US gas flow

Moody’s says U.S. companies building new natural gas pipelines are finding massive demand to carry supplies to liquefied natural gas terminals and gas-fired power generators in the south, as producers in the Marcellus Shale seek new outlets for huge supplies.  More »