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Author Archives: NewsCred

New Mexico energy industry leaders cry foul over new BLM rules

Oil and gas operations in the Permian Basin, Eddy County, New Mexico. (Image: Blake Thorberry via Flickr)

DURANGO, Colo. — About 75 people filled a ballroom at the DoubleTree by Hilton here on Tuesday to hear from Bureau of Land Management officials over three proposed updates to rules that regulate the oil and gas industry. And while the event’s location was in a small Colorado ski town, by a show of hands, those gathered were largely representatives ...

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USVI signs $800M deal to sell shuttered oil refinery

CHARLOTTE AMALIE, U.S. Virgin Islands — The U.S. Virgin Islands has signed an $800 million deal to sell what was once the world’s largest oil refinery to a Boston-based equity firm. The government announced Tuesday that it would receive a $220 million upfront payment from ArcLight Capital Partners’ Limetree Bay Holdings as part of the 25-year deal that is expected to ...

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Despite national oil slowdown, Weld County wells booming

GREELEY, Colo. — Despite a general slowdown in oil drilling across the Denver-Julesburg Basin and elsewhere, Weld County is on track to top 100 million barrels of oil this year. More than 89 percent of the state’s production this year is coming from Weld, The Greeley Tribune reported. That’s up from 85 percent last year. Industry analysts say operators are ...

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Bill Gates in Paris to launch global clean energy fund

PARIS — Bill Gates and a powerful coalition of top Silicon Valley thinkers, leaders and philanthropists will announce on Monday two initiatives created to spend tens of billions of dollars in the next five years to develop clean energy technology in efforts to fight global warming. Along with the 10-campus University of California system — with its three national energy ...

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Challenging times continue for oil and gas companies

“Lower for longer” are the words being used to describe the oil and natural gas economic outlook for 2016, creating another whack at West Virginia’s energy sector. U.S. natural gas production could decline in 2016 for the first time in a decade, driven by low oil prices after 10 years of gangbusters growth from shale plays. To understand the decline ...

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U.S. Steel to lay off 2,000 in downstate Illinois

GRANITE CITY — A total of 2,000 steelworkers in Illinois found out they’d lose their jobs the week of Thanksgiving. U.S. Steel announced Monday it will temporarily idle its Granite City Works steel mill outside of St. Louis. The Pittsburgh-based steelmaker, which lost $173 million in the third quarter, has been warning it could close the Granite City plant since ...

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Estero, Florida hears from Rodrigues on fracking

Estero’s village council on Monday heard Rep. Ray Rodrigues explain his plan to regulate in Florida the oil drilling industry’s use of an extraction method known as “fracking.” Hydraulic or acid fracturing, better known as fracking, is the process of drilling into the earth and then injecting a high-pressure mixture to force oil out of the ground. The mixture can ...

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Public meeting attended on WNF fracking

A controversial issue was the topic of a public meeting Thursday evening in the Bowman Auditorium at Ohio University Southern. The Bureau of Land Management Notheastern States District, lead federal agency for federally owned minerals throughout the United States, is starting its environmental assessments to consider whether or not to further oil and gas development by leasing parcels on approximately ...

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Russian military says its bombing sharply cut IS oil incomes

MOSCOW — The Russian military has destroyed numerous oil facilities and tankers controlled by the Islamic State group in Syria, sharply cutting its income, Russia’s defense minister said Friday. Sergei Shoigu reported to President Vladimir Putin Friday that Russian warplanes destroyed 15 oil refining and storage facilities in Syria and 525 trucks carrying oil during this week’s bombing blitz. He ...

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Evacuation lifted after fire at fracking chemical warehouse

LEETSDALE, Pa. — Workers at a Pennsylvania warehouse were pouring hydraulic fracturing chemicals into a production tank Tuesday when a fire started, forcing residents from more than 70 nearby homes for several hours and injuring several people, emergency and company officials said. Hazardous materials crews moved people living near the warehouse in Leetsdale to a high school gymnasium as a ...

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