Another benefit of America’s energy renaissance is seen in the competitive edge North American refiners are gaining because of lower feedstock costs, resulting from surging domestic crude oil and natural gas production. The latest “This Week in Petroleum” report by the U.S. Energy Information Administration (EIA) says that U.S. and Canadian refiners are in a stronger position relative… Keep reading →
By Sri Jegarajah U.S. crude futures may draw some support this week from signs of improving gasoline demand and a pick-up in U.S. refinery activity, CNBC’s latest survey of market professionals showed — although a record supply overhang may restrain any move higher. Gasoline prices have now increased for 12 weeks in a row, gaining nearly… Keep reading →
At the heart of the 2014 International Oil Spill Conference (IOSC) in Savannah, Ga., is the exhibitors’ hall where the latest equipment, technologies and services – for spill prevention, preparedness, response and restoration – are on display. This is cutting-edge technology and know-how that’s key to industry’s environmental commitment and sustaining energy development. The conference hall echoes with… Keep reading →
U.S. petroleum product exports increased by ten percent from 2012-2013, reflecting a significant boost in domestic crude oil and natural gas production. On April 22, 2014, the Energy Information Administration (EIA) released a report showing that 2013 U.S. petroleum product exports averaged 3.5 million barrels per day (MMbbl/d) increasing by ten percent from 2012 levels.… Keep reading →
The push to get institutional investors like pension funds and university endowments to divest holdings in fossil fuel-related businesses is reaching a fever pitch with a Harvard student getting arrested today during a 300-student-strong protest on the esteemed institution’s campus. The activist campaign has reportedly persuaded 11 US colleges to scale back investments in oil,… Keep reading →
Washington has rightfully avoided backing a candidate in next week’s [today’s] elections, but it should still use counterterrorism assistance and other levers to push Baghdad on pluralism and KRG oil revenue sharing during the presumably lengthy transition period. On April 30, the Iraqi public will vote in national parliamentary elections, establishing the next four-year term… Keep reading →
The Obama administration announced last week – read the State Department’s statement here – it would further delay making a decision on the controversial Keystone XL oil pipeline project until later this year – almost certainly after the midterm elections. The latest delay has many stakeholders up in arms, to say the least. In an… Keep reading →
The project is a way from shovels in the ground, but UK-based independent Tullow Oil is working towards bringing the considerable oil resources it’s discovered in Kenya and Uganda to market, which will require an extremely long, heated pipeline to transport the waxy crude. [The Observer] As businesses continue to seize opportunities presented by currently… Keep reading →
This piece is short on details, but reports scientists have found a way to do gas-to-liquids on the high seas at a cost of around $3 to $6 per gallon. “For us in the military, in the Navy, we have some pretty unusual and different kinds of challenges,” said Cullom. “We don’t necessarily go to… Keep reading →
The giant Kashagan oil field development project offshore Kazakhstan’s territorial Caspian Sea will be shut down for at least two more years, according to Quartz. Already woefully overdue and over budget, the project being developed by a consortium that includes some of the world’s largest international oil companies must now construct new pipelines that… Keep reading →
