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Author Archives: Ross Torgerson

Oil spill in harbor near Juneau under investigation

A weekend oil spill in a Juneau-area harbor was being investigated Monday by the Coast Guard and the Alaska Department of Environmental Conservation. Fifty to 100 gallons of what was likely used motor oil were found in the Auke Bay harbor Sunday evening, according to Sarah Moore, a DEC spokesperson. Moore said about one spill of this size occurs in ...

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Oil market is stabilizing, $60 is OK for now

RIYADH – Oil prices have started to stabilize around current levels of $60 a barrel and demand is showing signs of improving in Asia and other regions, a senior Gulf OPEC delegate said on Tuesday. The comments indicate that the core Gulf members of the Organization of the Petroleum Exporting Countries are showing no sign of wavering in their strategy ...

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Obama vetoes Keystone XL pipeline bill

Barack Obama, Keystone

WASHINGTON – President Barack Obama on Tuesday swiftly delivered on his vow to veto a Republican bill approving the Keystone XL oil pipeline from Canada, leaving the long-debated project in limbo for another indefinite period. The Senate received Obama’s veto message and Senate Majority Leader Mitch McConnell immediately countered by announcing the Republican-led chamber would attempt to overturn the veto ...

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Dallas Fed: Texas factory activity flat in February

Weak oil prices and a strong U.S. dollar combined to squeeze many Texas manufacturers in February, keeping production levels flat for a second consecutive month and knocking new shipments down to levels not seen since 2009, according to a report Monday from the Federal Reserve Bank of Dallas. The state production index, a key measure of factory activity across Texas, ...

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Archer to cut nearly 1,000 jobs

Oilfield service company Archer Ltd. announced in its fourth-quarter and year-end earnings report that it will be cutting nearly 1,000 employees despite reporting a fourth-quarter revenue increase of 15 percent year over year. Archer, a Bermuda-based company, conducts its U.S. operations in Houston. The 1,000 employees being cut account for 11 percent of Archer’s workforce. Archer employed about 8,800 people ...

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Officials: Rules changes have upped fracking water recycling

AUSTIN, Texas — Oil and gas drilling companies using hydraulic fracturing in Texas say they are recycling more water than ever before thanks to a change in state rules, Texas’ three railroad commissioners told two House committees Monday. But exactly how much water is being conserved or reused during production is unknown, according to the regulators who oversee the oil ...

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Texas reconsiders and will disclose oil train records

AUSTIN, Texas — Texas officials have reconsidered their decision to withhold details of how many trains carry at least 1 million gallons of crude oil across the state each week. The Texas Attorney General’s office decided last week that the records BNSF and Kansas City Southern railroads gave the state should be disclosed. Previously, the Texas Department of Public Safety ...

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Chevron pulls out of shale gas exploration in Romania

BUCHAREST, Romania — U.S. oil company Chevron says it has pulled out of shale gas drilling in Romania, weeks after ending business in Poland. The company began drilling for shale gas at its exploration well in northeastern Romania in 2014, a project that drew protests. It is also ending its three other concessions in Romania. In a statement Monday, Chevron ...

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Fracking-related air tests reveal surprising results

Air tests of five Barnett Shale wells being hydraulically fractured showed no harmful emissions, according to a study conducted by Modern Geosciences. The study, which was released today by the Barnett Shale Energy Education Council, took a look at five Barnett Shale gas wells in Mansfield, Texas during both hydraulic fracturing and flowback activities. The air studies in Mansfield were ...

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Oil-by-rail shipments are playing Russian roulette: Kemp

John Kemp is a Reuters market analyst. The views expressed are his own LONDON – Train derailments involving crude oil and ethanol in the United States will cost more than $18 billion over the next 20 years, according to an assessment by the U.S. Department of Transportation. USDOT forecasts there will be just over 200 derailments involving trains carrying 20 ...

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