Oil Price Moves Up
Reuters reported on Wednesday morning that the price of oil rose to $66.36 for Brent Crude. U. S light crude was $61.64. The rise is attributed to a report by the American Petroleum Institute (API)...
View ArticleEuropean Majors Endorse the Need to Address Climate Change
After years of cautious, long-term discussions and no action on the topic of climate change at a May meeting, "chief executives of BG Group (BRGXF), BP (BP), Eni, Royal Dutch Shell (RYDAF) , Statoil...
View ArticleU.S. Oil Production Rising
The U.S. EIA reported that US crude oil production rose by 24,000 bpd to 9.610 MMbpd for the week ending June 5, 2015. This is the third week of rising oil production. Current U.S. oil production is...
View ArticleOil at $61 U.S.
Oil on the London market reached $64.95 for Brent futures. U. C. crude futures were up $.95 to $60.95. A strong demand and falling stockpiles have kept oil in the $60 plus price range recently. The U....
View ArticleRussia Sees U.S. not OPEC as the Power in the International Oil Market
In an interview on Wednesday, Igor Sechin, the head of Russia's top oil producer, Rosneft, said that the U.S. not OPEC is "calling the shots on global oil markets." The U.S. accounts for 10% of the...
View ArticleExplosion and Fire on Pemex Platform
Mexico's state-run oil company, Pemex, confirmed Monday that there was an accident on an oil platform at one of its major operations in the southern Gulf of Mexico, but has not described the impact....
View ArticleImpact of Stored Oil Cargos
Morgan Stanley's analalyist, Adam Longson, questions the potential impact of all the oil stored on tankers in the Atlantic Basin. As the seasonal demand for oil and gasoline continues to fall,...
View ArticleInterest Continues for Offshore GOM Leases
The Bureau of Ocean Energy Management (BOEM) has completed its assessment of the March 2015 Lease sale. 41.2 million acres offshore Louisiana, Mississippi and Alabama in the Gulf of Mexico Central...
View ArticleOil Production from Eagle Ford and Bakken
Bentek energy analyst (Platts), Sami Yahya reveals that production decline from the Eagle Ford in Texas and the Bakken in North Dakota was less than 1 % in May compared to April. Production from the...
View ArticleBoom to Bust: North Dakota
Drilling equipment graveyards are dotting the North Dakota landscape as more and more companies have stopping drilling due to the price of oil and its uncertain future. For seven years "jobs were...
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