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From Bitcoin’s notoriety sprouts a new green currency

solar coin

Bitcoin, the contentious online currency, has been grabbing headlines lately, but the idea of spending digital money is still a novel one. Greenwich resident John Dolan hopes it won’t be for too long. Dolan, chair of the SolarCoin Foundation, along with a group of like-minded individuals loosely termed volunteers, is investing time and energy in SolarCoin, a virtual currency that ...

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Issue of oil exports is a bipartisan puzzle

WASHINGTON — Both Republicans and Democrats are struggling in a new debate over whether to sell more U.S. crude overseas, as even some traditional oil industry allies on Capitol Hill wonder whether exports would raise domestic gasoline prices. House Republicans are divided on the issue, said Rep. John Shimkus, R-Ill. “Crude oil is a basic commodity product. There’s an argument ...

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Chesapeake cuts 2014 spending by 20 percent

(Reuters) – Chesapeake Energy Corp <CHK.N> said its capital expenditure for the year would fall about 20 percent as part of CEO Doug Lawler’s plan to focus on drilling in U.S. shale basins that offer the best returns such as the Eagle Ford field in south Texas. The Oklahoma City-based company said it would spend between $5.2 billion and $5.6 ...

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Three companies fined for improperly classifying Bakken crude oil

railcars

By:  Amy Dalrymple, Forum News Service, INFORUM WILLISTON, N.D. – Notices sent to three oil companies operating in North Dakota cite 17 shipments of Bakken crude that investigators say were not properly classified under federal law. Spokesmen for the companies facing potential fines totaling $93,000 – Hess Corp., Marathon Oil Co. and Whiting Oil and Gas Corp. – all said Wednesday ...

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US oil rises, gains capped by China, US data

us china

Tue Feb 4, 2014 1:23pm EST By Jeanine Prezioso and Elizabeth Dilts NEW YORK, Feb 4 (Reuters) – U.S. crude oil rose by more than $1 per barrel on Tuesday, reversing the previous session’s losses, as traders expected data to show oil inventories were beginning to drain in earnest from the benchmark’s delivery point at Cushing, Oklahoma, after the start-up ...

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Crude Weekly Update

crude market

Oil Inventories Crude oil futures prices jumped on New York and London markets last week, and analysts said the US market fluctuated awaiting a decision from Federal Reserve officials regarding whether they would accelerate the tapering of an economic stimulus program. The US Energy Information Administration said commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, increased by 6.4 million bbl for the ...

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Liberty Resources II LLC Announces Acquisition of Bakken Assets, Marking Return to Williston Basin

Liberty Resources II

DENVER and LONDON, Jan. 30, 2014 /PRNewswire/ Liberty Resources II LLC (“Liberty II” or the “Company”), a Denver-based oil and gas company, today announced that it has entered into an agreement to acquire oil and gas assets in North Dakota’s Williston Basin for $455 million.  The properties to be acquired comprise approximately 53,000 net acres in Williams, Divide, Burke and ...

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Exxon Mobil profit tumbles as energy production tapers

stock

(Reuters) – Exxon Mobil Corp <XOM.N>, the world’s largest publicly traded oil company by market value, posted lower-than-expected quarterly profit on Thursday as it failed to offset declining production with fresh reserves. Shares of Exxon fell nearly 2 percent to $93.28 in morning trading. The problem of declining production has become endemic for multinational energy groups, with legacy oil and ...

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