Tag: US Oil
Opinion: OPEC and US shale drillers are on collision course
Resurgence of US shale complicating OPEC’s efforts to cut global oversupply By John Kemp LONDON, June 14 The oil market is on an unsustainable course with output from US shale and other non-OPEC sources increasing rapidly, while OPEC and its allies trim production to reduce inventories and prop up prices. The International Energy Agency (IEA) […]
Ample capacity to ramp up US crude exports: Enterprise Products Partners
US crude exports in early stages of development HOUSTON, April 28 (Reuters) – Enterprise Products Partners said on Thursday that it has ample dock capacity to ramp up US crude exports and could handle much more volume without further spending. The midstream operator, which in December 2015 became the first company to announce it would export […]
Atlantic drilling barred; Obama builds environmental legacy
Atlantic drilling plan reverses 2015 proposal WASHINGTON _ In a major reversal, the Obama administration said Tuesday it will bar oil drilling off America’s Atlantic Coast, a move cheered by environmentalists and consistent with the president’s aggressive steps to combat climate change. Interior Secretary Sally Jewell said the decision “protects the Atlantic for future generations.” […]
More gas, oil drilling restrictions sought to save sage grouse
Environmental groups sue to save sage grouse in US West BILLINGS, Mont. _ On Thursday, Environmental groups sued to force the Obama administration to impose more restrictions on oil and gas drilling, grazing and other activities blamed for the decline of greater sage grouse across the American West. A sweeping sage grouse conservation effort that […]
Rig count down for seventh straight week
Rig count down by 12 in Texas HOUSTON_On Friday, oilfield services company Baker Hughes reported another drop in the US and Canadian oil and gas rig count. This is the seventh consecutive week where fewer rigs were exploring for oil and gas in the United States. In total, there were 413 oil rigs operational in […]
US rig count drops for fifth week, down to 571 from 619 last week
US rig count down the most in Texas HOUSTON _ For the fifth consecutive week, the Baker Hughes rig count shows another drop in the US oil and gas rig count. Texas took the biggest hit in the US with almost 20 fewer rigs searching for oil and gas. Reports from the oilfield services company for the […]
Baker Hughes rig count down by 14 in the US, up by 61 in Canada
Rig count shows 39 new oil rigs in Canada HOUSTON _Natural gas and oil rig counts dropped for the second week in the United States while rig counts in Canada rose significantly for the second straight week. The Baker Hughes rig count shows the total number of oil rigs in the US is down by […]
Continental Resources CEO sees oil rising to $60 by year end
Continental Resources CEO Harold Hamm says production will be cut NEW YORK _ Oil executive Harold Hamm says he expects the price of oil to rise to about $60 by the end of the year as drillers in North Dakota, Texas and elsewhere cut production and whittle down the current glut in the market. Oil […]
Lifting of US crude export ban helps keep down oil prices: Expert
US crude export ban lift has changed dynamics of global oil industry WASHINGTON _ Oil prices have remained low despite heightened tensions between two of the world’s big oil-producing countries, Iran and Saudi Arabia, and a new law allowing U.S. crude exports helps explain why, the oil industry’s top lobbyist said Tuesday. Jack Gerard, president and CEO […]
Ending US crude export ban good news for Canadian oil industry
Lifting the crude export ban some regulatory burdens for Canadian producers CALGARY _ Experts see more good news than bad for Canada’s energy industry if the U.S. lifts its decades-old ban on oil exports. The ban came into force when oil shortages were commonplace 40 years ago, a stark contrast to today’s U.S. glut, thanks to fracking […]
Connect
Connect with us on the following social media platforms.