Venoco says its nearby oil platform is shut down, not source of oil slick Beachgoers were warned to avoid tar balls on Thursday along the Santa Barbara shoreline as the Coast Guard sought the source of a mysterious miles-long oil slick that floated up 1,000 yards from the sand. Authorities said the three-mile sheen was […]
Oil slick off California coast likely due to natural seepage Read More »
Short-term pain, but Shell CEO sees oil prices recovering to $70 to $90 in medium-term Royal Dutch Shell announced deep cuts to jobs and investment on Thursday as the global energy giant prepares for a prolonged period of low oil prices. Shell expects to eliminate 6,500 staff and contractor positions this year as it seeks to reduce
Oil prices to blame as Shell slashes jobs, investment Read More »
Gas prices would be an average of 8 cents per gallon lower if ban not in place The 1970s-era ban on crude oil exports is artificially keeping American gas prices higher than they should be, says a new report from consultancy IHS Inc. IHS argues that the factors central to determining the gas prices at the
Want lower gas prices? Lift American oil export ban – study Read More »
Republicans support Keystone XL, environmental supporters of Democrats oppose it The White House says a decision will be made on the Keystone XL pipeline while President Barack Obama is still in office, as rumours swirl that the long-delayed project is on the verge of rejection. It’s not saying when the decision will come or what it will be.
White House: Keystone XL decision will come before Obama goes Read More »
Net loss of $5.82B compared with net income of $3.37B a year earlier, thanks to Deepwater Horizon charges BP reported a second-quarter loss Tuesday after the London-based oil company set aside another $10.8 billion to cover the cost of the Deepwater Horizon accident. The report is the first since BP announced a deal that will provide a
Deepwater Horizon accident drags on BP Q2 earnings Read More »
Canadian propane imports usually drop off after winter season, but not this year PLATTS NEWS – Putting further pressure on the excess Northeast spot barrels has been rising propane imports from Canada. Canadian propane production has been relatively flat over the last two years at just over 221,000 b/d and is expected to be steady
American propane market pressured by Canadian imports Read More »
Large Gulf Coast methanol and fertilizer plants will be big consumers of natural gas Industrial natural gas consumption has grown steadily since 2009, reversing a decade-old decline, as relatively low prices supported using natural gas as a feedstock for the production of bulk chemicals. Industrial facilities, including methanol plants and ammonia- or urea-based fertilizer plants, consumed
Natural gas: New industrial projects driving demand even higher Read More »
Critics say Keystone XL would carry “dirtiest oil” that needs to say in the ground A U.S. lawmaker boldly predicted Tuesday that President Barack Obama is about to reject the Keystone XL pipeline, after years of delay and debate. The surprise statement came on floor of the U.S. Senate, from an unexpected source. Sen. John Hoeven, a
Obama will reject Keystone XL after Congress recesses in August – Sen. Hoeven Read More »
As Secretary of State, Hillary Clinton said department should approve proposed pipeline A town-hall spectator who elicited a headline-making non-answer from Hillary Clinton understands perfectly well why she dodged his question about Keystone XL. He understands the pipeline represents a political predicament for the Democratic front-runner. “There’s enormous pressure from both sides,” said Bruce Blodgett, a
Hillary Clinton dodges question about approving Keystone XL Read More »
Goodrich Petroleum intends to pay down debt, drive down drilling and operating costs even further – president Goodrich Petroleum is selling acreage in the Eagle Ford Shale for $118 million, but keeping some of the undeveloped leasehold for future development or sale, the company announced Monday. “The monetization of our proved reserves and associated acreage from our drilling efforts
Goodrich Petroleum sells Eagle Ford assets, retains acreage for future Read More »
