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Texas, New Mexico oil producers push for import limits

ALBUQUERQUE, N.M. (AP) — Oil drilling companies and royalty owners from the Texas Panhandle to New Mexico’s stretch of the Permian Basin are embarking on a grass-roots campaign to limit foreign oil imports, salvaging what they say is a major sector of the U.S. economy. “American oil is competing against a cartel of government operators which has a stated initiative ...

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‘Hard choices’ in Texas as oil bust, costly lawsuits collide

AUSTIN, Texas (AP) — The oil bust already shrinking Texas’ coffers is colliding with the possibility of the state getting socked with multibillion-dollar verdicts in major lawsuits, budget officials said Tuesday, which could test years of Republican resistance to cracking the state’s emergency piggybank. No lawmakers or budget-crunchers raised the potential of spending cuts or a shortfall when the Legislature ...

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Energy companies ready to ship oil abroad

Energy companies ready to ship oil abroad

Less than a month after President Barack Obama signed a bill abolishing America’s crude export ban, energy companies are positioning themselves to ship American oil overseas. The first oil tanker left Corpus Christi on New Year’s Eve and is expected to arrive in Italy on Jan. 20. ConocoPhillips produced the oil from Eagle Ford Shale in Texas. The crude will ...

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U.S. shale oil output to fall for 8th month in December: EIA

U.S. shale production is expected to fall for an eighth consecutive month in December, according to a forecast on Monday from the U.S. Energy Information Administration (EIA). Total output is set to decline 118,000 barrels per day (bpd) in December, the biggest monthly decline on record, to 4.95 million bpd, the least since Sept. 2014, according to EIA data going ...

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TAMU-CC drones will monitor oil industry

Texas A&M University-Corpus Christi has received a $539,998 grant to research and develop an unmanned aircraft system that can detect emissions from oil and gas pipelines and plants. This is the first time the university has ever gotten the three-year grant from the National Science Foundation Major Research Instrumentation Program. University researchers plan to build and program the aircraft system, ...

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Bayou Bridge construction starts

Construction is underway on the Bayou Bridge, a new pipeline that will whisk crude oil from south Texas to Lake Charles, Louisiana. The Associated Press reports the pipeline will be built through a joint venture between Phillips 66, Energy Transfer Partners and Sunoco Logistic Partners. The cost of the project has not been disclosed, but Phillips 66 claims 40 percent ...

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Permian Basin dominates rig counts

Despite being halved in the past year, the Permian Basin’s rig count heads the upswing with more rigs than any other US region. It’s been a rough year for rig counts in every shale play across the country, and the Permian Basin has been no exception. In the past 12 months, capped August 7 2015, the Basin suffered a loss ...

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Marathon Oil production increases in the Bakken

Increased production from the Bakken might be the saving grace for Marathon Oil after posting a $386 million loss for the second quarter. As reported by United Press International (UPI), the company said that for its North American operations, net production averaged 274,000 barrels of oil equivalent per day (boed). The increase is 21 percent greater for its year-to-year figures, ...

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