Does Saudi Arabia really care which high cost oil producers go under? One analysts says, no Mark Mills has a theory about the Saudi market share strategy that goes a long way to explaining why some OPEC members are circulating a letter seeking production cutbacks and higher prices. The prevailing view is that Saudi Arabia, the biggest […]
Saudis applying pressure until someone cracks, but it may not be America Read More »
1 oil train tanker car caught fire, 30,000 gallons of oil spilled into river in Lynchburg, VA The fire official who led the response to a 2014 CSX oil train derailment in Lynchburg, Virginia, criticized CSX Transportation, saying it took two hours for the company’s representative to arrive at a command post after the wreck. With fire and
Oil train derailment: Fire chief critical of railroad’s slow response Read More »
American petroleum deliveries averaged nearly 19.6 million b/d in July Total American petroleum deliveries grew by 2.2 per cent from July 2014 to average nearly 19.6 million barrels per day, according to the Monthly Statistical Report for July 2015, which is compiled by the American Petroleum Institute. “Demand for and production of oil and refined products grew across
American petroleum demand up 2.2% in July Read More »
Baytex Energy suspending monthly cash dividend after Sept. 15 Baytex Energy Corp. (TSX:BTE) says it is “recalibrating” its business model by reducing costs in the Texas Eagle Ford shale and stoping drilling in the Peace River and Lloydminster areas in Western Canada for the rest of this year. Baytex Energy announced “difficult but necessary steps” to weather
Baytex Energy looks to reduce costs in Eagle Ford shale production Read More »
Alaska, North Dakota, Wyoming rely on severance taxes much more than other states Texas and other states that produce large amounts of fossil fuels rely heavily on severance tax revenue—taxes based on the volume and/or value of oil, natural gas, coal, and other natural resources. On average, severance taxes accounted for less than 2% of state
Oil and gas states rely heavily on severance tax Read More »
Pipelines like Keystone XL should be approved Tragic accidents, such as the recent rupture of a Nexen oilsands pipeline southeast of Fort McMurray, should not detract from the fact that pipelines are the safest way to transport oil and gas. Such accidents are unfortunate and regrettable. This recent accident has stoked concerns, particularly from pipeline
Pipelines are far and away safest to transport oil and gas Read More »
Trican also terminated operations Australia, suspended business in Colombia, Saudi Arabia International service company Trican Well Service Ltd. has closed of the sale of its Russian pressure pumping business, saying it wants to focus on the North American market. The transaction involves the sale of all shares of Trican Well Service LLC, an indirect wholly-owned subsidiary of Calgary-based
Trican sells Russian fracking business, refocuses on USA, Canada Read More »
Australia target to produce 33 TWh from large-scale renewable energy sources by 2020 Australia’s Clean Energy Finance Corporation (CEFC) last month was directed to stop investing in future wind power projects, according to the US Energy Information Administration. Australian Prime Minister Tony Abbott stated that CEFC should be investing in the development of new technologies rather than
Australia stops investing in wind power projects Read More »
Major shutdown at refinery that processes Canadian oil sands crude, pipeline disruptions weighing on industry The price of oil hit a six-year low Wednesday as U.S. stockpiles posted an unexpected increase, bringing further pain to Canadian oil sands producers. The price of West Texas Intermediate, the North American oil benchmark, went as low as US$40.40 in intraday trading
Oil sands producers ‘on the edge’ with big discount to WTI Read More »
Scholars call for greenhouse gas emissions to be phased out by mid-century ISTANBUL – Muslim scholars and environmental advocates from about 20 countries on Tuesday called for a global phase-out of greenhouse gas emissions by mid-century, joining a chorus of religious leaders urging the world to take strong action against global warming. Participants in a seminar in
Muslim scholars call for phase out of greenhouse gas emissions Read More »
