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Tag Archives: Oil

Ahead of meeting, OPEC seems close to riding out price slump

OPEC

VIENNA (AP) — OPEC is not yet in safe harbor. But ahead of a top-level meeting, the 13-nation oil cartel appears close to weathering the storm of slumping crude prices that threatened to bankrupt some members and called into question its relevance. After touching a 13-year low early this year, the price of oil has moved steadily upward to its ...

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Burgum’s business background promises prosperity for North Dakota

Doug Burgum

Doug Burgum’s commitment to community is moving statewide. The Fargo-based entrepreneur and philanthropist is running for North Dakota governor and promises to create an environment that’s welcoming to business. One area he will focus on is the energy industry. “Growing up, I was told we were going to run out of oil,” Burgum said. “There was an oil crisis shortly ...

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US rig count drops 9 this week to 406, another all-time low

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. dropped by nine this week to 406, another all-time low amid depressed energy prices. A year ago, 888 rigs were active. Houston oilfield services company Baker Hughes Inc. said Friday 328 rigs sought oil and 86 explored for natural gas. One was listed as ...

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Group sues Interior Department over deep-sea well permits

Group sues Interior Department over deep-sea well permits

NEW ORLEANS (AP) — An environmental group sued the Interior Department on Wednesday for what it called the “fast track” permitting of potentially dangerous oil and natural gas wells in offshore waters. The action came on the sixth anniversary of the nation’s largest offshore oil spill. The federal lawsuit, filed by the California-based Center for Biological Diversity in Washington, D.C., ...

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Mexico thieves build tunnel, camouflaged truck to steal oil

Mexico thieves build tunnel, camouflaged trucks to steal oil

MEXICO CITY (AP) — Authorities in central Mexico say thieves built a camouflaged truck to transport fuel stolen from government pipelines. Police found a tunnel built by pipeline thieves in the same state of Guanajuato last week. The discoveries show the sophistication of thieves who drill taps into state-owned pipelines thousands of times every year to steal gasoline and diesel. ...

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23.5M acres off Texas up for oil, gas leases in August

23.5M acres off Texas up for oil, gas leases in August

NEW ORLEANS (AP) — The federal government will offer 23.5 million acres off of Texas for oil and gas leases in August. The Bureau of Ocean Energy Management says that’s all the available waterbottom in the western Gulf of Mexico. Spokesman John Filostrat (FIL-oh-strat) says the agency has not chosen a date or location. Last August marked the smallest sale ...

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Fires rage at Libyan oil ports after Islamic State attacks

Firefighters battle a fire early Friday, Jan. 23, 2015 in Homestead, Pa. At least one of the five buildings that caught fire collapsed after the fire was reported about 4:30 a.m. Homestead Mayor Betty Esper says the fire is devastating to the borough's downtown. The community of 3,100 residents is about six miles from downtown Pittsburgh. No injuries have been reported. (AP Photo/Pittsburgh Post-Gazette, Darrell Sapp) MAGS OUT; NO SALES; MONESSEN OUT; KITTANNING OUT; CONNELLSVILLE OUT; GREENSBURG OUT; TARENTUM OUT; NORTH HILLS NEWS RECORD OUT; BUTLER OUT

BENGHAZI, Libya (Reuters) – Three days of Islamic State attacks on Libya’s biggest oil terminals have started fires that have spread to five massive oil storage tanks, a guards spokesman said on Wednesday. Ali al-Hassi said the Petroleum Facilities Guards were still in control of the neighboring ports of Es Sider and Ras Lanuf, where at least nine guards were ...

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No fracking pits allowed under new DEP regs for oil and gas industry

The Pennsylvania Department of Environmental Protection on Wednesday made available thousands of pages of documents outlining new rules for the oil and gas industry. Among the trove of public documents are increased regulations for unconventional drillers, which apply to companies extracting natural resources from the Marcellus Shale. All of it can be found here. Some of the biggest changes include ...

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Frack leases below W.Va. wildlife management areas yield $18M

CHARLESTON, W.Va. (AP) — West Virginia has brought in $18 million by leasing the right to drill for oil and natural gas deep below state wildlife management areas and waterways, including beneath the Ohio River. But as natural gas prices stay low, no companies with the state leases have begun extracting gas, as far as state Department of Commerce officials ...

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