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Airstrikes hurt, but unlikely to halt, ISIS oil smuggling operations

News

ISIS oil smuggling generate nearly $50M a month BEIRUT _ The United States and Russia are going after the Islamic State group’s oil industry, destroying refineries and hundreds of tanker trucks transporting oil from eastern Syria in a heavy bombardment in recent days aiming to break the extremists’ biggest source of income. The campaign already […]

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US demand for petroleum fell in October, gasoline demand rose

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 U.S. total petroleum imports in October averaged nearly 9.4 million barrels per day, up 5.5% from prior year WASHINGTON – Total petroleum deliveries (a measure of demand) fell slightly in October by 0.3 percent from year ago levels, according to API’s Monthly Statistical Report for October 2015. Production of all four major products–gasoline, distillate, jet

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Trans Mountain price tag rising, but business case still strong: Kinder Morgan

News

Trans Mountain pipeline may cost $6.8B CALGARY _The Trans Mountain pipeline expansion is getting more expensive, but the company planning to build it says the economic case for the project is still strong. Kinder Morgan, the U.S. company behind the pipeline project, doesn’t yet have a formal estimate of how the price tag has changed

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Syria bombing blitz sharply cut ISIS oil revenues: Russian military

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Numerous ISIS oil facilities, tankers destroyed MOSCOW _ The Russian military has destroyed numerous oil facilities and tankers controlled by the Islamic State group in Syria, sharply cutting its income, Russia’s defence minister said Friday. Sergei Shoigu reported to President Vladimir Putin Friday that Russian warplanes destroyed 15 oil refining and storage facilities in Syria

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University of Calgary report: How does 2015 oil downturn compare to the 1985 crash?

Energy Financial

Oil downturn shouldn’t last as long this time around: University of Calgary CALGARY _ Thirty years ago, shoulder pads were all the rage, Molly Ringwald was a rising teen movie star and an oil downturn was wreaking economic havoc. At least one of those will feel familiar to those working in the oil and gas industry

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Renewable energy grid-scale storage more flexible, cost-effective – report

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New energy storage deployments in Asia Pacific’s major markets expected to total nearly 37 GW from 2015 to 2025 BOULDER, Colo. – A new report from Navigant Research finds that while costs remain one of the largest hurdles to grid-tied energy storage systems industry’s growth, declining prices are helping to move the technology into diverse geographic

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Majority of American voters concerned about high ethanol mandates – poll

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According to DOE’s fuel economy website, fuel costs can be significantly higher when consumers use higher ethanol blends WASHINGTON, DC – Seventy-eight per cent of registered voters are concerned that breaching the ethanol blend wall could drive up the cost of gasoline for consumers and reduce the nation’s fuel supply (91 per cent of Republicans, 80

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