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Articles Posted by thackney

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  • Exxon Oil Rig Enters Uncharted Waters of Russian Political Storm

    07/21/2014 6:54:24 AM PDT · by thackney · 6 replies
    Reuters via Rig Zone ^ | July 21, 2014 | Balazs Koranyi and Gwladys Fouche
    An ordinary, long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise, attracting international scrutiny and creating a dilemma for ExxonMobil. Exxon, the top U.S. oil major and the world's most valued oil company, is bringing the rig, called West Alpha, from Norway to the Russian Arctic. It is hoping for a major discovery in the Kara Sea with Russian partner Rosneft. The journey has begun just as the United States has slapped the toughest sanctions yet on Russia, including on Rosneft, over escalating violence in Ukraine. Further sanctions are likely after the...
  • Recent improvements in petroleum trade balance mitigate U.S. trade deficit

    07/21/2014 5:28:31 AM PDT · by thackney · 3 replies
    Energy Information Administration ^ | JULY 21, 2014 | Energy Information Administration
    Since the mid-1970s, the United States has run a deficit in merchandise trade, meaning that payments for imports exceeded receipts for exports. This large and growing deficit on the merchandise trade balance reached a maximum of $883 billion in the second quarter of 2008. As a result of the recession, dramatic declines of imports in excess of exports during the fourth quarter of 2008 and the first quarter of 2009 reduced the merchandise trade deficit by 49%, to $449 billion in the second quarter of 2009. This trend of declining imports resulted in the lowest quarterly deficit level since early...
  • Feds OK first-in-decades oil studies off East Coast

    07/18/2014 11:21:43 AM PDT · by thackney · 17 replies
    Fuel Fix ^ | July 18, 2014 | Jennifer A. Dlouhy
    The Obama administration on Friday gave the oil industry the green light to use air guns and sonic sensors to search for possible oil and gas under Atlantic waters, overriding environmentalists concerned that the seismic research can harm whales and other marine life. Although geophysical research companies will still have to apply for individual permits to conduct seismic studies along the south- and mid-Atlantic coast — and undergo more rigorous environmental scrutiny of their specific plans — the Interior Department’s formal decision opens the door for the activity. Friday’s move also helps pave the way for possible drilling off the...
  • Kemper Coal Plant Prepares for Operation

    07/18/2014 6:50:22 AM PDT · by thackney · 9 replies
    WTOK ^ | July 17, 2014 | Candace Barnette
    Mississippi Power is looking for ways to make a positive economic impact as the Kemper Coal Plant is slowly nearing its finish line. The facility has completed construction and is now in the process of testing its equipment. And coal engineers say as they begin, they're doing their best to hire locally. "We sign long-term contracts with our customer," mine engineer Matt Jones says. "We've got a 40-year contract with Mississippi Power for this operation. We're part of the community, and we want to make sure we're hiring our neighbors as much we can." At its peak, the coal plant...
  • Kemp: Peak Petroleum Engineer? Or Still Time to Join the Boom?

    07/17/2014 4:58:32 AM PDT · by thackney · 6 replies
    Reuters via Rig Zone ^ | July 17, 2014 | John Kemp
    Petroleum engineers are among the best paid professionals in the United States. Only chief executives and some specialist doctors earned more last year, according to federal government pay data. Petroleum engineers were paid an average of $132,000 a year, with the top 10 percent on more than $187,000, according to the Bureau of Labor Statistics (BLS). These figures include everyone from the newest graduates to the most experienced engineers with decades of experience, and are based on median earnings in May 2013. Petroleum engineers earned almost four times as much as the average employee across the economy, who was on...
  • Voters should not make engineering decisions

    07/16/2014 11:20:36 AM PDT · by thackney · 19 replies
    Houston Chronicle ^ | July 16, 2014 | Chris Tomlinson
    Denton late Tuesday night became the latest jurisdiction to announce a referendum on a drilling technique, joining Colorado and New York in allowing voters to decide where hydraulic fracturing for oil and gas may take place. This a deeply worrying trend that mixes misinformation with a not-in-my-backyard attitude that too often ignores science, engineering and the nation's need for energy. In many ways, though, the drilling companies and state regulators have themselves to blame for public outrage by failing to quickly and transparently address the concerns of local residents. First, let me say I've spoken to a lot of people...
  • Enhanced oil recovery techniques limited in shale

    07/16/2014 5:26:14 AM PDT · by thackney · 6 replies
    Fuel Fix ^ | July 15, 2014 | Jennifer A. Dlouhy
    Energy companies currently leave about 95 percent of the crude in the ground at today’s unconventional oil wells, but they face major technological challenges in boosting recovery rates, a Schlumberger scientist said Tuesday. Robert Kleinberg, a fellow with the oilfield services firm, bemoaned the current 5 percent recovery factor at tight oil wells, where crude is pulled from the pores of extremely dense rock formations. Geologists and engineers are actively looking for ways to boost the figure, but traditional methods applied at more conventional oil wells — such as pumping steam underground and flooding the formations with water — don’t...
  • Fuel economy improvements show diminishing returns in fuel savings

    07/11/2014 5:23:49 AM PDT · by thackney · 26 replies
    Energy Information Administration ^ | JULY 11, 2014 | Nicholas Chase
    Fuel costs, which depend on vehicle fuel economy, miles driven, and fuel price, are an important factor in vehicle purchasing decisions. However, fuel economy improvement exhibits diminishing returns in fuel savings. For example, switching from a 10-mile-per-gallon (mpg) vehicle to a 15-mpg vehicle saves more fuel and results in greater fuel cost savings than switching from a 25-mpg vehicle to a 75-mpg vehicle. The fuel and cost savings of improving fuel economy from 12 mpg to 15 mpg are the same as increasing from 30 mpg to 60 mpg. Much of the reduction in fuel consumption and fuel cost comes...
  • Houston pay tops nation on oil, gas strength

    07/11/2014 5:06:41 AM PDT · by thackney · 4 replies
    Fuel Fix ^ | July 10, 2014 | Collin Eaton
    Houston outpaced every city in the nation in annual wage growth during the second quarter, thanks largely to a bump in oil and gas-industry pay, according to PayScale. The Seattle-based pay tracker said the city’s 3 percent rise in annual wages beat the national average of 1.8 percent from April to June. That’s the second consecutive quarter that Houston wage-earners beat the national average, after a sluggish 2013 that saw pay in the energy capital flatten. (Average wage earners weren’t the only ones who had flat paydays last year: Some compensation packages for the chief executives of oil and gas...
  • Six formations are responsible for surge in Permian Basin crude oil production

    07/09/2014 7:30:55 AM PDT · by thackney · 7 replies
    Energy Information Administration ^ | JULY 9, 2014 | Energy Information Administration
    The Permian Basin in Texas and New Mexico is the nation's most prolific oil producing area. Six formations within the basin have provided the bulk of Permian's 60% increase in oil output since 2007. Crude oil production in the Permian Basin has increased from a low point of 850,000 barrels per day (bbl/d) in 2007 to 1,350,000 bbl/d in 2013. Largely as a result of this growth, crude oil production from Permian Basin counties has exceeded production from the federal offshore Gulf of Mexico region since March 2013, making the Permian the largest crude oil producing region in the United...
  • Tomgram: Michael Klare, Fighting for Oil

    07/09/2014 5:31:49 AM PDT · by thackney · 4 replies
    TomDispatch.com ^ | July 8, 2014 | Michael Klare
    Call it a double whammy for the planet or simply irony with a capital “I.” As the invaluable Michael Klare, TomDispatch regular and author of The Race for What’s Left, points out today, if you scan the planet for conflict, what you’ll find from Syria and Iraq to the South China Sea are a series of energy wars -- fossil-fuel conflicts to be exact. At present, despite some hopeful signs, this crazed planet of ours is still a ravenous beast that only fossil fuels can sate. No question that conflicts and wars are terrible things. Just consider the million new...
  • Surge of industrial projects could lift U.S. gas demand by 19 percent

    07/09/2014 5:25:40 AM PDT · by thackney · 7 replies
    Fuel Fix ^ | July 8, 2014 | Collin Eaton
    A wave of gas-to-liquids investments and other U.S. industrial projects will likely boost demand for natural gas by 19 to 31 percent through the end of the decade, a new study shows. After shale gas flooded U.S. markets, chemical makers and other firms planned enough gas-intensive industrial projects – now under construction or obtaining permits – to boost daily industrial gas demand from 19.6 to 23.5 billion cubic feet of gas per day in 2020, according to the University of Texas’ Center for Energy Economics. All told, that’s an $83 billion venture. If all 144 proposed industrial projects are built,...
  • Hurricane Arthur Scythes Through Outer Banks of North Carolina

    07/04/2014 6:26:41 AM PDT · by thackney · 21 replies
    Reuters via Rig Zone ^ | July 04, 2014 | Chris Keane|
    The first hurricane of the Atlantic season has hit the North Carolina coast, a wet and windy spoiler of the July Fourth holiday for thousands of Americans as authorities ordered them to evacuate exposed areas. Hurricane Arthur crossed the coast near Cape Lookout at the southern end of North Carolina's Outer Banks at 11:15 p.m. EDT (0315 GMT) on Thursday, with maximum sustained winds of 100 miles per hour (160 kph). This earned it Category 2 status on the five-step Saffir-Simpson scale of hurricane intensity, the U.S. National Hurricane Center said. Moving northeast at 22 mph (35.6 kph), Arthur is...
  • Philippines Considers LNG Import Receiving Options

    07/04/2014 6:23:35 AM PDT · by thackney · 1 replies
    Rig Zone ^ | July 04, 2014 | Cheang Chee Yew|
    Like most of its Asian neighbors, the Philippines has been a net energy importer for decades. The country’s dependence on hydrocarbons is relatively lower as compared to South Korea or Singapore as it has alternatives such as geothermal, hydropower and other renewable sources for electricity generation. But rising energy consumption and the expected depletion of gas resource at the offshore Malampaya field – the country’s major gas development – in a decade’s time has induced the Philippines to seek alternative energy supplies. Liquefied natural gas (LNG) import, together with the accompanying gas receiving facilities, is one of the options being...
  • How Low Can You Go? Oil Well Downhole Camera [Video]

    07/03/2014 9:25:20 AM PDT · by thackney · 12 replies
    Oil Pro ^ | July 3, 2014 | Stephen Peterson
    A very interesting video, detailing what drillers can see, identify and diagnose using a downhole camera. https://www.youtube.com/watch?v=ZzDrheWDhGw
  • Oil rich, gas poor: Iraq's excruciating gas lines

    07/03/2014 7:59:53 AM PDT · by thackney · 4 replies
    Al Jazeera America ^ | June 30, 2014 | Christof Putzel
    The lines have become a part of daily life in Erbil, a relatively peaceful and prosperous city in the autonomous Kurdish region of Northern Iraq. Over the years, it’s mostly managed to avoid the problems that have plagued the rest of the country. But that's no longer the case. In recent weeks, the war between the Iraqi Army and a Sunni militant group has drawn in Kurdish security forces, sent tens of thousands of refugees fleeing the violence and disrupted the oil supply chain. “The government is afraid to release too much gas, because they don’t know what is going...
  • A perspective on U.S. gasoline prices heading into Fourth of July weekend

    07/03/2014 7:31:03 AM PDT · by thackney · 2 replies
    Energy Information Administration ^ | July 2, 2014 | Energy Information Administration
    On Monday, June 30, the national average retail gasoline price was $3.70 per gallon. Although this is the highest average heading into the Fourth of July holiday since 2008, gasoline prices in 2014 have remained well below the spring peaks reached in each of the previous three years (see graph). Although prices are currently 20 cents per gallon higher than last year at this time, prices this year did not peak as high as in recent years because of relatively stable crude oil prices in 2014. The peak retail gasoline price this year was $3.71/gal on April 29, lower than...
  • Mexico's Pemex to Spend $6B to Maintain Output at Cantarell

    07/03/2014 6:13:56 AM PDT · by thackney · 3 replies
    Rig Zone ^ | July 1, 2014 | Reuters
    Mexico's state-run oil company Pemex will launch a $6 billion investment in 2017 aimed at maintaining current levels of production at its once-supergiant Cantarell field over the next decade, a Pemex official said on Tuesday. Discovered in 1976, output from the offshore Cantarell field once supplied over 2 million barrels per day (bpd), or more than half of Mexico's total crude production. But output at the field has fallen more than 80 percent since 2004 to hover around 340,000 barrels per day (bpd). The investment will counteract the natural decline of Cantarell by squeezing out an additional 100,000 bpd per...
  • New ND Flaring Regs Make Statoil's Nat Gas Container System Timely

    07/03/2014 5:45:05 AM PDT · by thackney · 18 replies
    Fuel Fix ^ | July 02, 2014 | Gene Lockard
    Statoil ASA recently announced a container system to reduce flaring in the Bakken. The company’s timing could not have been better, considering that North Dakota just approved new flaring regulations. More restrictive regulations covering flaring on existing wells were passed by the North Dakota Industrial Commission – the state’s regulating entity for oil and gas – July 1. The goal of the commission is to reduce flaring to 26 percent by the fourth quarter of 2014, 23 percent by the first quarter of 2016, and 10 percent – with the potential of 5 percent – by the fourth quarter of...
  • The First Crisis Hits Shale Drilling {hyperbole}

    07/02/2014 5:37:06 AM PDT · by thackney · 10 replies
    Real Clear Energy ^ | July 1, 2014 | Dave Forest
    "Crisis" may be a little hyperbolic. But shale production of oil and gas in America suddenly got a lot riskier this week. That's because of a landmark decision from one of the highest state courts in the land. Upholding the right of individual towns to regulate shale drilling, trumping state or federal regulatory regimes. The ruling came down yesterday in New York. Where the State Court of Appeals voted 5-2 to reject challenges to fracking rules imposed on the oil and gas industry by two municipalities in the state: Dryden and Middlefield. The saga started in 2011. When the two...
  • Officials say power grid is on the brink {New England}

    07/02/2014 4:36:24 AM PDT · by thackney · 74 replies
    SeacoastOnline ^ | July 01, 2014 | Deborah McDermott
    New England states are united in proposing that a tariff be imposed on electricity rates throughout the region to fund more natural gas pipelines and increased transmission infrastructure — to reverse electricity costs that are among the highest in the nation. The proposal is a necessary step because the region has limited gas pipeline capacity despite a demand that has grown from 6 percent in 2000 to 46 percent in 2013, energy experts said at a forum sponsored by The New England Council at St. Anselm's College in Manchester Monday. At the same time, more and more coal-fired, oil and...
  • Texas oil production set to top No. 2 OPEC country

    07/02/2014 4:29:55 AM PDT · by thackney · 16 replies
    Fuel Fix ^ | July 1, 2014 | Simone Sebastian
    exas now is pumping 36 percent of the nation’s oil, more than doubling its production in three years, according to new federal data. The Energy Information Administration reports that Texas oil production topped 3 million barrels per day in April, for the first time since the late 1970s. Nearly as much crude flowed from Texas as from Iraq, which was the second largest OPEC producer in April at about 3.2 million barrels per day, according to Bloomberg. The news agency estimates that Iraq’s production fell to 2.9 million barrels in June amid insurgent violence. That would drop it below Texas...
  • Pipeline progress, Midstream companies make ‘remarkable’ strides in North Dakota

    07/01/2014 6:02:02 AM PDT · by thackney · 17 replies
    Petroleum News Bakken ^ | Week of June 29, 201 | MAXINE HERR
    North Dakota Gov. Jack Dalrymple is full of gratitude for pipeline infrastructure investments after tasking midstream companies two years ago to build pipelines, and build them quickly. Dalrymple hosted his second Governor’s Pipeline Summit in Bismarck on June 24, bringing together about 150 pipeline industry leaders, energy industry representatives and federal, state and local officials to share their response to the rapid construction of thousands of miles of pipelines to meet oil and gas industry demands. “There was a time a few years ago when we said we’re never going to have enough pipelines to deal with this boom,” Dalrymple...
  • Rising costs eat into returns even with high oil prices, IHS says

    07/01/2014 5:26:19 AM PDT · by thackney · 6 replies
    Fuel Fix ^ | June 30, 2014 | Collin Eaton
    Oil producers are making less for the capital they’re spending than they did a decade ago, when U.S. benchmark crude prices were below $30 a barrel, a new report concludes. A study of more than 80 oil companies showed they made an average 8.6 percent in returns on average capital employed last year, and 11 percent in 2012 — both lower than exploration-and-production returns in 2001, according to a report released Friday by IHS. The price of West Texas Intermediate crude climbed from $27 a barrel in 2001 to $98 a barrel last year. “My guess is that shareholders are...
  • North Dakota and Texas now provide nearly half of U.S. crude oil production

    07/01/2014 5:17:50 AM PDT · by thackney · 8 replies
    Energy Information Administration ^ | 7/1/2014 | Energy Information Administration
    U.S. crude production in April 2014 was 8.4 million barrels per day (bbl/d), with two states, Texas and North Dakota, accounting for nearly half of this total. Texas production topped 3.0 million bbl/d for the first time since the late 1970s, more than doubling production in the past three years, and North Dakota production broke 1.0 million bbl/d for the first time in history, nearly tripling its production over the same period, according to data from the U.S. Energy Information Administration's Petroleum Supply Monthly report. Combined crude oil production volumes from Texas and North Dakota reached 4.0 million bbl/d. From...
  • Worker Safety Remains the First Priority for Oil, Gas Companies

    06/30/2014 1:00:14 PM PDT · by thackney · 18 replies
    Rig Zone ^ | June 30, 2014 | Gene Lockard
    Safety is first among every oil and gas company. Regardless of whether an employee works in the field, on a rig, or in a high-rise office, they will be reminded time and time again just how important the safety of every employee is to the company, and to the industry. But as more young workers are hired into the industry, the issue has taken on an increased importance. Younger workers differ from older ones by having fewer fatalities, but more total injuries and more serious injuries, according to safety and injury incident research from the Center for Disease Control and...
  • North Dakota aims to double pipeline capacity; Enterprise helps

    06/30/2014 6:06:57 AM PDT · by thackney · 5 replies
    Reuters ^ | Jun 24, 2014 | ERNEST SCHEYDER
    North Dakota intends to nearly double its oil and gas pipeline capacity within two years as part of a plan to curb the wasteful flaring of natural gas in the bustling Bakken oil field, the state's governor said on Tuesday. Oil production in North Dakota has more than tripled in the past decade to 1 million barrels of oil equivalent (boepd) per day, making for the fastest-growing U.S. state economy. But state pipeline capacity has lagged. Governor Jack Dalrymple said the state wants to boost capacity to 1.4 million boepd by 2016 from about 780,000 boepd now. "We will reduce...
  • 2014 U.S. petroleum refinery update: capacity edges up, ownership shifts

    06/30/2014 5:11:16 AM PDT · by thackney · 6 replies
    Energy Information Administration ^ | June 30, 2914 | Energy Information Administration
    As of January 1, 2014, there were 139 operating refineries and 3 idle refineries with total atmospheric crude oil distillation capacity (ACDU) of 17.9 million barrels per calendar day (bbl/cd), a 101,000-bbl/cd increase in capacity from January 1, 2013. In 2013, four refineries changed ownership, continuing the trend of a handful of sales each year. This information is detailed in EIA's recently released Refinery Capacity Report, which surveys U.S. refinery ownership and capacity annually at the start of each year. Valero Energy Corporation remains the largest U.S. refiner, with total ACDU capacity of more than 1.9 million bbl/cd. Exxon Mobil...
  • Peak Oil 3: Has Production Peaked?

    06/27/2014 9:14:34 AM PDT · by thackney · 23 replies
    Forbes ^ | 6/27/2014 | Michael Lynch
    The remnants of the peak oil community cling avidly to the belief that oil production has already peaked and that high prices prove this. “Look at the data” seems to have become a catechism amongst them, and it can be hard to dissuade them otherwise, especially by considering more than one variable as explaining oil supply and price. Most anyone can understand that high oil prices are no more an indicator of resource scarcity than the occasional spike in coffee, pork or orange juice prices. Things happen that can cause prices to rise for a period before supply and demand...
  • Industry touts economic effect of Keystone’s southern leg on Texas

    06/27/2014 5:23:50 AM PDT · by thackney · 1 replies
    Fuel Fix ^ | June 25, 2014 | Ryan Holeywell
    A business association whose members include some of the world’s biggest energy companies is urging the administration to approve the controversial Keystone XL pipeline, arguing that the southern portion of the project already has shown the positive economic impact the project will have on the country. The group commissioned a study on the economic effect of the 485-mile portion of Keystone pipeline known as the Gulf Coast Extension, which opened earlier this year linking Oklahoma and Texas. The study highlights benefits the project had on local businesses like restaurants and hotels along the route. It notes that during construction, TransCanada...
  • Local Western Mass. Residents On Edge Over Natural Gas Pipeline Proposal

    06/27/2014 5:19:08 AM PDT · by thackney · 43 replies
    WBZ-TV, CBS ^ | June 24, 2014 | Joe Shortsleeve
    Plans to build a natural gas pipeline through central and western Massachusetts are running into opposition from residents in the communities affected. The pipeline begins in Troy, Pennsylvania and runs through Wright, New York before entering Massachusetts in Richmond. It would run through dozens of communities before ending in Dracut. But few residents expect to see any benefits from the pipeline plan. “It would go in front of our house. It would go through this hay field,” said Pat Worth, one of those residents. Worth is afraid her 25-acre farm in rural Royalston will be ruined if a natural gas...
  • Advocates See US Gas Exports Spurring Major Job Growth

    06/27/2014 4:56:29 AM PDT · by thackney
    MNI ^ | JUNE 24, 2014 | Jon Hurdle
    The United States plans to export abundant supplies of liquefied natural gas could generate tens of thousands of new jobs in industries that supply producers of the fuel, according to industry participants and a new study. But critics claim that increased demand from energy-hungry overseas customers would drive up domestic natural gas prices, causing manufacturers' costs to rise, and deterring job creation. As Congress considers bills that would speed government approval of applications to build LNG export terminals, a trade association representing manufacturers and others that service the shale gas industry projected that the construction and operation of the multi-billion-dollar...
  • This forlorn oil tanker has been marooned off the Moroccan coast for three weeks

    06/27/2014 4:51:26 AM PDT · by thackney · 12 replies
    Quartz ^ | June 26, 2014 | Steve LeVine and David Yanofsky
    Much hoopla has erupted since Kurdistan sold a $106 million load of crude oil to a buyer in Israel. Here was justice at last for the long-suffering Kurds, forgotten in the 1916 Sykes-Picot agreement that divided the Middle East and seemed to give every other major nation its own home, including some nations not previously considered nations. That is the 50,000-foot view, though, and wholly neglects the fate of the first tanker to set sail with Kurdish oil. (The Israeli sale was the second shipment.) The United Leadership left the Turkish port of Ceyhan on May 22. But a combination...
  • Iraqi air strikes kill 38 in Baiji

    06/25/2014 10:34:15 AM PDT · by thackney · 15 replies
    Gulf Daily News ^ | June 25, 2014 | Gulf Daily News
    Air strikes killed at least 38 people yesterday as security forces held off attacks on a strategic town and an oil refinery, officials and witnesses said. In the town of Baiji, north of Baghdad, air strikes killed at least 19 people and wounded at least 17 in the morning, while further raids in the evening killed six more. Officials said the dead and wounded were civilians, and it was unclear if there were any casualties among the militants, who were the target of the strikes. State television said 19 "terrorists" were killed in the earlier Baiji raids. In the Husseibah...
  • Texas hits new peak wind output

    06/25/2014 5:20:09 AM PDT · by thackney · 17 replies
    Energy Information Administration ^ | JUNE 23, 2014 | Energy Information Administration
    At 8:48 p.m. on March 26, wind generation on the electric grid covering most of the state of Texas reached a new instantaneous peak output of 10,296 megawatts (MW). At that moment, wind supplied almost 29% of total electricity load, according to the Electric Reliability Council of Texas (ERCOT), the grid's operator. The average wind production in that hour was 10,120 MW. The new wind record surpassed two highs reached in the previous week, while the record prior to March was 9,674 MW set in May 2013. March's wind power record will likely be surpassed in the near future as...
  • US challenges oil export ban with approvals for two Texas companies

    06/25/2014 4:54:38 AM PDT · by thackney · 10 replies
    Fuel Fix ^ | June 24, 2014 | Jennifer A. Dlouhy
    The Obama administration has cleared the way for two energy companies to sell an ultralight variety of oil overseas after minimally processing it, a decision that tests the limits of a long-standing ban on exporting U.S. crude. The move, which came in private classification orders issued by the Commerce Department’s Bureau of Industry and Security, effectively confirms that hydrocarbon known as condensate qualifies as a petroleum product once it has been processed in a distillation tower, and therefore is not barred by the 39-year-old ban on crude exports. Unlike unprocessed crude, companies can freely sell gasoline, diesel and other petroleum...
  • Horizontal drilling fuels latest Oklahoma oil boom

    06/24/2014 5:07:46 AM PDT · by thackney · 8 replies
    Fuel Fix ^ | June 23, 2014 | Associated Press
    More than 4,600 oil and natural gas wells were completed in Oklahoma last year as part of a domestic boom that is affecting many parts of the nation, according to reports filed with state regulators. Corporation Commission records indicate companies applied for more than 6,000 drilling permits for the second consecutive year. That figure is up from about 4,100 permits in 2009, The Oklahoman reported Sunday. Mike Terry, president of the Oklahoma Independent Petroleum Association, said horizontal drilling has opened vast new resources across the country and has renewed activity in Oklahoma’s historic oil fields. “The Mississippi Lime in northern...
  • Tell the EPA what you think of its climate rules

    06/24/2014 4:55:10 AM PDT · by thackney · 29 replies
    Grist ^ | 19 Jun 2014 | Grist staff
    You know those proposed EPA power-plant rules that we’ve been going on and on and on about? Now you can go on and on and on about them yourself. The Obama administration has opened up the official 120-day public comment period, after the proposal was published in the Federal Register. The EPA will accept feedback through Oct. 16, so now’s the time to speak your mind. Here’s how to comment. The big enviro groups are going to be pushing to make the rules stronger, while industry and Republicans are trying to undermine them. The EPA will consider all the feedback...
  • It's time to approve Keystone XL {3 new reasons}

    06/21/2014 6:23:43 AM PDT · by thackney · 9 replies
    Washington Examiner ^ | JUNE 19, 2014 | JARED MEYER
    President Obama has three new reasons to approve the long-delayed Keystone XL pipeline. The pipeline would bring 830,000 barrels of Canadian crude oil per day from Alberta to U.S. refineries, which would lead to economic growth and job creation in the United States. Escalating Conflict in Iraq. Though the fighting is yet to affect oil production in southern Iraq, uncertainty over how much havoc ISIS will create is driving up futures prices. Disruption in Iraq's production would substantially affect its heavy crude oil exports, the type of oil found in Canadian tar sands. If unrest continues in the region, Canadian...
  • Report: Most Iraq oil production unaffected by turmoil

    06/20/2014 7:44:59 AM PDT · by thackney · 5 replies
    Fuel Fix ^ | June 19, 2014 | Ryan Holeywell
    Most of Iraq’s oil production has been unaffected by militant violence, according a report by IHS analysts. That’s because the majority of the country’s production is concentrated in the southern part of the country, while the violence attributed to the Islamic State of Iraq and Syria, known as ISIS, is concentrated in the north. The consulting firm, which counts many major energy companies among its clients, said it’s received no reports of shut-in production. Yet, despite the lack of disruption, crude oil and gasoline prices continue to rise. Iraq was the world’s sixth largest net exporter of petroleum liquids in...
  • US oil spending could hit $165B on global conflicts, report says

    06/20/2014 5:06:03 AM PDT · by thackney · 1 replies
    Fuel Fix ^ | June 19, 2014 | Collin Eaton
    Oil and gas producers could boost their annual spending to $165 billion in the United States as conflicts in Iraq and elsewhere send crude prices higher, according to a report released by Barclays on Wednesday. Exploration and production spending, the lifeblood of the oil field service industry, which employs thousands in Houston, is expected to jump 9.6 percent over last year, according to the London bank. North American operators are putting more muscle behind oil production, and already have made slight adjustments to their outlook for this year’s oil prices, their benchmark for spending budgets. But at $91 a barrel,...
  • FERC approves Cameron LNG liquefaction, export project

    06/19/2014 12:38:44 PM PDT · by thackney · 5 replies
    Oil & Gas Journal ^ | 9/2014 | Nick Snow
    The Federal Energy Regulatory Commission authorized Cameron LNG LLC’s plan to build and operate facilities to liquefy and export natural gas from its existing LNG import terminal in Hackberry, La. FERC also approved Cameron Interstate Pipeline LLC’s application to construct and operate pipeline and compression facilities in Cameron, Calcasieu, and Beauregard Parishes to supply the Cameron LNG facility with domestically-produced gas. Sempra Energy Corp. owns the project. The June 19 actions marked the second time FERC has approved an LNG export facility. It approved the Sabine Pass liquefaction project in April 2012, which is under construction. Sabine Pass’s application to...
  • US Senate Panel Advances Bill To Force Keystone Pipeline Approval

    06/19/2014 5:04:43 AM PDT · by thackney · 16 replies
    Reuters via Rig Zone ^ | June 18, 2014 | Ros Krasny
    The U.S. Senate Energy Committee advanced a bill on Wednesday that would force congressional approval of TransCanada's proposed Keystone XL oil pipeline project, but the measure seems unlikely to be taken up by the full Senate. The bill, the latest effort by lawmakers to breathe life into the long-delayed pipeline from Canada to the U.S. Gulf Coast, will languish without a commitment from Senate Majority Leader Harry Reid to bring it to a vote. The measure, from Democratic Senator Mary Landrieu of Louisiana and Republican Senators John Hoeven of North Dakota and Lisa Murkowski of Alaska, would take a decision...
  • Shale’s bounty ignites US petrochemical export boom

    06/19/2014 4:57:47 AM PDT · by thackney · 7 replies
    Fuel Fix ^ | June 18, 2014 | Collin Eaton
    Cheap, abundant U.S. shale gas soon will find its way to a new market: The flood of people moving from the countryside to the dense cities of developing countries. In a few years, the gas will arrive in China, India and Latin America as resin pellets that will become plastic products like food packaging, a key component for urbanizing populations as consumers trade farming markets for preserved foods. It’s a huge, hungry market. Shortly after U.S. gas prices collapsed a few years ago, a half-dozen energy companies raced to build plants along the Gulf Coast that can break natural gas...
  • First westbound natural gas flows begin on Rockies Express Pipeline

    06/18/2014 10:55:51 AM PDT · by thackney · 2 replies
    Energy Information Administration ^ | JUNE 18, 2014 | Energy Information Administration
    The Rockies Express Pipeline (REX) announced on Monday that it expects service to commence as soon as today for the first 0.25 billion cubic feet per day (Bcf/d) of capacity on its 0.60 Bcf/d Seneca Lateral pipeline in southeast Ohio. The 14.3-mile lateral will flow gas north from the MarkWest Seneca natural gas processing plant to the REX mainline, where a newly built compressor station will allow this gas to be delivered to points west in Ohio, Indiana, and Illinois. No new pipelines will be added to the mainline; the project will allow bidirectional flows—both east and west—to occur on...
  • Saudi Arabia Under Pressure To Plan For Iraq Oil Disruption

    06/18/2014 5:59:09 AM PDT · by thackney · 11 replies
    Oil Price ^ | 16 June 2014 | Nick Cunningham
    When U.S. President Barack Obama spoke briefly on June 13 outside the White House on the deteriorating security situation in Iraq, he ruled out sending in U.S. troops, but said that he had instructed his national security team “to prepare a range of other options.” While the potential use of force – most likely consisting of airstrikes in some form – is what made headlines, Obama also hinted at the fact that his administration was working behind the scenes to plan for a possible major disruption in Iraqi oil output, which accounts for some 3.5 percent of global supply. “One...
  • Canada OKs oil pipeline to the Pacific Coast

    06/18/2014 5:31:07 AM PDT · by thackney · 26 replies
    Fuel Fix ^ | June 17, 2014 | Associated Press
    Canada’s government on Tuesday approved a proposed pipeline to the Pacific Coast that would allow oil to be shipped to Asia, a major step in the country’s efforts to diversify its oil industry. The approval Tuesday was expected. Conservative Prime Minister Stephen Harper has been a staunch supporter of Enbridge’s proposed Northern Gateway pipeline after the U.S. delayed a decision on TransCanada’s Keystone XL pipeline that would take oil from Alberta to the U.S. Gulf Coast. Enbridge’s pipeline would transport 525,000 barrels of oil a day from Alberta’s oil sands to the Pacific to deliver oil to Asia, mainly energy-hungry...
  • North Dakota oil production surpasses 1 million barrels per day

    06/18/2014 5:28:43 AM PDT · by thackney · 7 replies
    Fuel Fix ^ | June 17, 2014 | Associated Press
    North Dakota has joined the ranks of the few places in the world that produce more than a million barrels of oil per day, due in large part to the rich Bakken shale formation in the western part of the state. The April figures released Tuesday by the state’s Department of Mineral Resources showed the record tally. North Dakota had flirted with the million-barrel-per-day mark for months, but the harsh winter slowed the pace. In March, production had hit 977,000 barrels per day. North Dakota’s oil fields now represent more than 12 percent of all U.S. oil production, and more...
  • Hillary Clinton weighs in on Keystone XL pipeline

    06/17/2014 5:00:14 AM PDT · by thackney · 19 replies
    AP via Fuel Fix ^ | June 16, 2014 | Rob Gillies
    The pipeline is critical to Canada, which needs infrastructure in place to export its growing oil sands production. Alberta has the world’s third largest oil reserves, with 170 billion barrels of proven reserves. “I did not see it nor should it be a proxy for the relationship. It is, after all, one pipeline. We already have a lot of pipelines that cross our border,” Clinton said
  • After Oil, Natural Gas May Be Next On North American Rails

    06/16/2014 12:07:12 PM PDT · by thackney · 1 replies
    Reuters via Rig Zone ^ | June 16, 2014 | Edward McAllister
    ...Buoyed by the unexpected success of crude by rail, companies are beginning to consider transporting natural gas as remote drilling frontiers emerge beyond the reach of pipelines, executives said. Natural gas by rail is years away and likely to face strong public resistance after a series of explosive crude-by-rail accidents. But the potentially multibillion-dollar development could connect gas-rich regions like North Dakota with urban centers, presenting an opportunity for railroads, drillers and tank car makers already cashing in from hauling oil on trains. It could also be a cure for environmentally unfriendly flaring, a growing problem in far-flung areas where...