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Tag Archives: crude oil

Montana city to hear if water safe to drink after oil spill

BILLINGS, Mont. — Initial tests show water supplies in a Montana city show no sign of a cancer-causing element for the first time since they were contaminated by a weekend crude oil spill, a state official said Thursday, raising hopes that thousands of residents can soon start drinking from their taps. Glendive’s water no longer shows elevated levels of benzene, ...

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Crude oil imports, up 30% in first 11 months of 2014

BUCHAREST – Romania imported, in the first 11 months of 2014, a crude oil amount of 6.108 million tonnes toe, by 1.408 million toe (30%) more than in the same period of 2013, according to the data centralized by the National Statistics Institute (INS). Crude oil production totaled, from January to November 2014, some 3.474 million toe, by 1.8% (64,800 ...

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Declining oil prices forcing industry to cut jobs in Tulsa

TULSA, Okla. — Declining crude oil prices have forced three major industry firms with strong northeastern Oklahoma ties to lay off workers. Apache Corp., Baker Hughes and Schlumberger have begun laying off employees in response to the oil price crash in the past six months, The Tulsa World reported Saturday. Apache’s job cuts will likely impact several hundred employees of ...

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Lifting U.S. crude export ban could boost production, cut gas prices: study

NEW YORK – Lifting U.S. crude export restrictions could boost domestic oil production and cut gasoline prices, according to a report issued Friday by Columbia University’s Center on Global Energy Policy. The shale boom has flooded U.S. oil refiners with increased volumes of light sweet oil, which they are not generally configured to run. If rapid oil output growth continue ...

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EIA predicts the ambiguous future of petroleum

Perhaps serendipitous to those looking for credible predictions on what’s to come for the world of energy, the U.S. Energy Information Administration (EIA) just released their latest edition of the Short-Term Energy Outlook. This is the first version to include forecasts for 2016. Where oil prices will crawl is on the minds of most. Crude oil markets continue to search ...

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Update: Halliburton confirms some layoffs in Duncan branch

Halliburton on Tuesday confirmed workers have been laid off at the company’s technology center in Duncan. A company spokeswoman in Houston declined to say how many employees were laid off. “This information is for Duncan only and I do not have any additional information at this time,” Emily Mir, Halliburton public relations director, said in an email to The Duncan ...

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Low oil prices unlikely to hurt railroads much

OMAHA, Neb.— The stunning collapse in oil prices over the past several months won’t derail the railroads’ profit engine even if it does slow the tremendous growth in crude shipments seen in recent years. Carloads of crude oil spiked well over 4000 percent between 2008 and last year — from 9,500 carloads to 435,560 — as production boomed and the ...

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Navigator Energy receives $250M in private equity

First Reserve, a private equity firm that specializes in energy, is financing Navigator Energy an estimated $250 million in hopes of tapping into Navigator’s pipeline in the Midland Basin. According to the Dallas Business Journal, Navigator, based in Dallas, Texas, “Is working on the Big Spring Gateway System (BSGS), which is expected to provide crude oil gathering and transportation services ...

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Oil by rail may soon face tanker shortages

Increasingly stringent rules for shipping crude oil by rail may soon cause Bakken oil producers to spend more on oil transportation, according to report by the Minneapolis/St. Paul Business Journal. Recently, the U.S. Department of Transportation mandated that rail cars transporting flammable liquids be subject to higher safety standards. Regulators in North Dakota also recently increased shipping safety standards after ...

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