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Tag Archives: crude

Marathon Oil slashes dividend, capex to save cash

U.S. oil producer Marathon Oil Corp on Thursday said it is slashing its quarterly dividend 76 percent and further reducing capital expenditures to preserve cash on hand as it tries to withstand a prolonged crude price slump. Crude prices have lingered below $50 a barrel for weeks, a level that renders some shale oil drilling unprofitable. To free up needed ...

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Shell pulls the plug on Arctic exploration

LONDON, Sept 28 (Reuters) – Royal Dutch Shell has abandoned its Arctic search for oil after failing to find enough crude in a move that will appease environmental campaigners and shareholders who said its project was too expensive and risky. The withdrawal came six weeks after the final U.S. clearance and three months after Shell was still defending the project, ...

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Plunging crude prices hammer energy companies

NEW YORK — A decision by OPEC this week to maintain current levels of oil production is hammering major energy companies in the U.S. and abroad. Many energy experts had expected the group of oil producing countries, which met in Vienna this week, to act to halt a free fall in the price of crude oil since this summer. A ...

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New EIA tool to help track oil imports

pump jack

There is a new, simpler way to track the latest trends in crude oil imports, thanks to a new tool released by the U.S. Energy Information Administration (EIA). The tool, called U.S. Crude Oil Import Tracking Tool, will allow policymakers, analysts, and the public to sort and display crude oil imports by month or year, by crude type, country source, ...

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Keystone controversy: Is Canadian dilbit the “dirtiest” oil out there?

As the vote to pass the Keystone XL Pipeline headed to the Senate floor yesterday, researchers with California’s Low Carbon Fuel Standard have released new data on the ‘cleanliness’ of North America’s ‘dirty’ oil, and the results may surprise you. Before I unveil the results of the study, let’s backtrack ever-so-slightly and bring back an issue relevant to the findings of ...

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Rail safety vote nears

train

ALBANY – A vote by three men in the capital of North Dakota on Thursday could make thousands of massive crude oil trains crossing the U.S. on the way to Albany and other coastal ports a bit safer. The North Dakota Industrial Commission moved to require oil companies in its Bakken oil fields remove the most flammable components from crude ...

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