August 2015

Oil prices: Biggest one day gain since 2009, but analysts don’t anticipate sustained rally

Oil prices gain Thursday NEW YORK – Oil prices soared more than 10 per cent Thursday, its biggest one-day gain since March 2009, lifted by resurgent global stock markets and a report showing the U.S. economy grew faster than previously reported in the second quarter. U.S. oil rose $3.96, or 10.3 per cent, to $42.56 in New

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Gulf of Mexico energy production should be undisturbed by hurricane season

Gulf of Mexico share of American oil and gas production declined significantly Offshore oil and gas production in the Gulf of Mexico has been relatively undisturbed by tropical storms and hurricanes in recent years, and the 2015 season should be more of the same, according to the US Energy Information Administration. National Oceanic and Atmospheric Administration

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Ecuador oil: President says country is losing money on every barrel of oil it produces

Ecuador oil sales contribute to 13 per cent of national budget QUITO, Ecuador –  Ecuadoreans are already contending with a rumbling, ash-spewing volcano and rising living costs because they use the appreciating U.S. dollar as their currency. Now they’ve been told that Ecuador’s oil, its principal export and a vital source of government funding, costs more to

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Taylor Energy reaches settlement in 2004 Gulf of Mexico spill

Taylor Energy to make $300K donation to Louisiana marine research   NEW ORLEANS – Environmental groups and a New Orleans energy company have reached a settlement agreement in a lawsuit stemming from the company’s failed efforts to stop a decade-old, slow-motion oil spill in the Gulf of Mexico. A federal court filing Thursday stated that an agreement

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U.S. lawmakers tour Canadian carbon capture, storage project

Lindsey Graham says carbon capture works, has multiple uses ESTEVAN, Canada – U.S. presidential candidate Lindsey Graham is praising carbon capture and storage technology in Saskatchewan and says it’s time to pursue similar projects in his own country. The Republican senator for South Carolina was part of a delegation of U.S. lawmakers who toured SaskPower’s Boundary

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NE BC 4.6 earthquake link to fracking not yet confirmed

BC Oil and Gas Commission enforcing mitigation plan, such as reduced fracking pressures A natural gas producer in northeastern British Columbia that halted work after a 4.6-magnitude earthquake last week says its fracking operation maybe not be the cause of the seismic activity. Progress Energy, which is owned by Malaysia’s Petronas and has been linked to the largest

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