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Oct. 29, 2014
Pemex, Mexico's state-owned oil giant, is counting on future in deepwater production; it hopes to shed its reputation as a lumbering monopoly and to remake itself into a streamlined company that can compete or ally with the world’s biggest firms. MORE
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Oct. 24, 2014
Major airlines report record profits, spurred on by strong travel demand and steep decline in crude oil prices; American Airlines reports third-quarter profit of $942 million; United Continental Holdings posts net income of $924 million, up from $379 million in year-earlier period; Southwest Airlines reports profit of $329 million, up 27 percent from year ago. MORE
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Oct. 21, 2014
Joe Nocera Op-Ed column contends the shale revolution in North America is utterly changing the oil supply-demand dynamic, and has weakened the power of the Organization of Petroleum Exporting Countries; contends OPEC has become a paper tiger. MORE
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Oct. 18, 2014
Oil experts say boom in American energy production shows no signs of slowing down, even as falling oil and gasoline prices have sent oil company stocks tumbling. MORE
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Oct. 16, 2014
Steep decline in oil prices is straining budgets of major petroleum-exporting countries around globe; drop is raising specter of spending cuts in Russia, where the economy is under pressure from Western sanctions, and posing potentially grave security challenge for Iraq, which is already struggling to finance its fight against the Islamic State. MORE
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Oct. 16, 2014
Saudi Arabia, as global oil prices plunge at pace not seen since 2008 financial crisis, is being accused by some of deliberately depressing the market to weaken rivals like Iran; for their part, Saudi officials signal willingness to endure reduced profits rather than cut production in an effort to prop up prices. MORE
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Oct. 15, 2014
Thomas L Friedman Op-Ed column submits global oil war may be underway pitting United States and Saudi Arabia against Iran and Russia; notes American oil exports have risen and that Saudi Arabia has refused to protect oil prices, while Russia and Iran, both of which depend largely on oil revenues, are trapped in costly proxy war in Syria; suggests US would do well to protect itself from such dependence on oil. MORE
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Oct. 14, 2014
Oil prices sink again, falling 1.5 percent to $88.89 a barrel, spurring a near free fall in gasoline prices in the United States; national average price for regular gas is $3.20 a gallon, 14 cents below price one year earlier; decline reflects rift in strategy among OPEC nations, and increases likelihood of emergent price war. MORE
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Oct. 10, 2014
Venezuela's economy is struggling, as is its once-booming government-run oil monopoly, Petroleos de Venezuela, or Pdvsa; in quiet change, company has been discreetly moving to give more control to foreign oil companies that participate with it in joint ventures. MORE
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Oct. 9, 2014
Energy boom that has American rail lines transporting more than a million barrels of oil a day is creating sharp increase in rail freight traffic nationwide; congestion is causing major delays for Amtrak passenger trains and holding up transport of vital consumer and industrial goods. MORE
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Oct. 9, 2014
Denton Journal; Texans' long-held love of oil and gas industry is being tested in proposed city ban on hydraulic fracturing in Denton, Tex; ban will be voted on in referendum in November. MORE
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Oct. 8, 2014
Pres Nicos Anastasiades suspends talks on reunifying ethnically divided Cyprus in response to plans by Turkey to search for oil and gas in waters where Cyprus has already licensed companies to drill. MORE
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Oct. 7, 2014
Joe Nocera Op-Ed column observes that Obama administration has come to key juncture in its methane reduction effort, particularly in emissions from hydraulic fracturing; warns if government backs away from regulation, promise of natural gas as a cleaner fuel will go unrealized; holds while natural gas boom is irreversible, measures to reduce methane emissions are entirely feasible if government demonstrates the necessary will to impose them. MORE
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Oct. 3, 2014
Crude oil prices continue sharp decline, with American benchmark dropping below $90 a barrel for the first time since 2012; reflects both slow growth in global demand and signals from Saudi Arabia that it is more interested in maintaining market share than in keeping prices low. MORE
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Oct. 1, 2014
American Petroleum Institute president Jack N Gerard says that oil and railroad industries are urging federal regulators to allow them up to seven years to retrofit tank cars used to transport highly volatile crude oil. MORE
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Sep. 26, 2014
China will send 700 troops to United Nations peacekeeping mission in South Sudan, where fighting between government forces and rebels has threatened Beijing's oil investments. MORE
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Sep. 26, 2014
International warplanes attack 12 small refineries in Syria controlled by Islamic State as part of effort to target sources of the terrorist group's financing; officials with the United States Central Command, which oversees American military operations in the Middle East, say refineries produce 300 to 500 barrels of oil daily, generating as much as $2 million per day in black-market oil sales for the group's operations. MORE
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Sep. 23, 2014
Joe Nocera Op-Ed column examines story of Steven Donziger, attorney who allegedly committed multiple acts of fraud during his two-decade legal battle to force Chevron to clean up environmental mess it left in Ecuador when it pulled out in 1990s; notes while Donziger has denied the charges, his account has inconsistencies and there are several questions he has yet to answer. MORE
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Sep. 20, 2014
Sistema, company owned by Russian billionaire Vladimir P Yevtushenkov, claims he has been freed from house arrest; statement is rejected by Russia's top criminal investigation agency, and confusion reflects high-stakes battle for some of country's most prized oil assets. MORE
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Sep. 17, 2014
Scotland's vote to secede from Great Britain, if successful, would mean nation faces uncertain economic future even if it secures bulk of North Sea energy revenue, as is expected; revenue from oil and natural gas generated from North Sea would not be sufficient enough to finance independent country. MORE
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Sep. 14, 2014
United States seeks Turkish assistance to starve Islamic State in Iraq and Syria of oil revenue that has made it one of the wealthiest terror groups in history. MORE
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Sep. 13, 2014
United States and European Union broaden and deepen range of sanctions imposed on Russia in retaliation for its intervention in Ukraine; measures deal blow to Russian efforts to develop future oil sources in Arctic and elsewhere, and place further limits on access to American and European capital markets. MORE
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Sep. 13, 2014
United States takes aim at Exxon's offshore drilling project in Arctic Ocean as part of latest round of sanctions against Russia; orders American companies to cut off exports to Russian oil exploration within 14 days. MORE
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Sep. 12, 2014
Eni confirms that its recently appointed chief executive Claudio Descalzi and one of his key lieutenants are under investigation for international bribery over company's acquisition of offshore oil block in Nigeria; Eni and Royal Dutch Shell bought exploration track for $1.1 billion in 2011 after long and difficult negotiations. MORE
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Sep. 9, 2014
Once-decayed steel towns and rural areas are rising anew across heartland of nation, their economies bustling as domestic oil and gas production surges; change is evident in downtowns of northeastern Ohio cities, as well as in economic data for state; industrial production nationwide has risen 20 percent since 2009. MORE
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Sep. 7, 2014
Thomas L Friedman Op-Ed column argues that as the United States faces foreign crises like those involving Ukraine and the Islamic State of Iraq and Syria, its best option is to lead from within; calls on government to lift self-imposed ban on US oil exports while introducing comprehensive tax reform; argues that reducing global price of oil would be powerful weapon in addressing both threats. MORE
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Sep. 4, 2014
New Jersey Gov Chris Christie, speaking during trip to Mexico, lays out plan for what he calls a North American energy renaissance; calls for an end to 40-year ban on crude oil exports, faster approval of natural gas pipelines between the United States and Mexico, and construction of the Keystone XL pipeline from Canada to the Gulf Coast. MORE
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Sep. 3, 2014
Congressional Memo; Eric Cantor’s exit from House of Representatives means Wall Street and Big Business have lost their most sympathetic ear, while oil and gas industries are on the rise. MORE
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Aug. 29, 2014
American shale oil boom has driven refinery production to record highs, leaving supply depots flush and cushioning the impact of crises in the Middle East and Ukraine that would normally have pushed gasoline prices sky high; hydraulic fracking has allowed the United States to account for some 10 percent of global production, with Texas alone outpacing nations like Kuwait and Venezuela, sharply reducing need for imports; MORE
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Aug. 28, 2014
Hard-fought ballot referendum that would have overturned Alaska's system of taxing oil industry profits fails by narrow margin after absentee ballots are counted; Ballot Measure 1 drew millions of dollars in contributions from oil companies and raised political passions across state. MORE
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Aug. 26, 2014
Energy exploration in North Dakota is creating a crisis for farmers whose grain shipments have been held up by vast new movement of oil by rail; Burlington Northern Santa Fe Railway, North Dakota's largest railroad, reportedly has a backlog of 1,336 rail cars waiting to ship grain and other products; farmers say backlog is only going to get worse, leading to million of dollars in losses from agricultural waste. MORE
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Aug. 20, 2014
Transportation Safety Board of Canada releases report highlighting lax oversight that it says led to derailment of runaway train carrying Bakken crude oil, resulting in deaths of 47 people and destruction of much of Lac Megantic, Quebec, in 2013; says that railway operator blatantly disregarded safety rules and that its employees were inadequately trained. MORE
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Aug. 18, 2014
Referendum in Alaska that proposes to change how oil companies are taxed is stirring passionate public debate. MORE
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Aug. 14, 2014
Mexico outlines changing landscape of its oil and gas industry as it tries to secure foreign assistance in developing its energy future; most of country's production will remain with state-owned Pemex, but private investors will be allowed to bid on some reserves. MORE
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Aug. 13, 2014
Iranian customs data shows that country is finding way around Western sanctions to export increasing amounts of ultralight oil to China and other Asian markets, expanding value of its trade by potentially billions of dollars a year; energy experts say Iran is counting on West to tolerate increasing export stream due to slight thaw in relations as negotiations over Iran's nuclear program continue. MORE
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Aug. 10, 2014
Kinder Morgan, the largest of the master limited partnerships, will acquire its three associated companies and re-form as a traditional corporation worth $140 billion. MORE
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Aug. 10, 2014
Two-and-a-half month standoff over Chinese oil rig illustrates the long reach of China’s nautical ambitions, but broader issues over sovereignty in South China Sea, and who has rights to extract oil and gas in the region, remain far from resolved. MORE
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Aug. 9, 2014
North Korean officials have reportedly imposed restrictions on private motorbike use in effort to conserve fuel for military and government officials; North Korea suffers chronic fuel shortages. MORE
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Aug. 5, 2014
Colorado Gov John W Hickenlooper says he has reached a deal to keep two antifracking measures off November ballots; agreement includes creating a task force to study the effects of drilling near homes and schools, and having the state drop 2012 lawsuit against city of Longmont, which crafted its own restrictive oil and gas rules. MORE
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Aug. 4, 2014
Nature Conservancy continues earning money from oil well on land it controls in Texas, despite pledging a decade ago not to permit new oil and gas drilling on land; revelation comes in book This Changes Everything: Capitalism vs the Climate by activist Naomi Klein; group argues it has had no choice because of terms of lease it signed years ago; property is supposed to be a refuge for the endangered Attwater’s prairie chicken. MORE
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Jul. 31, 2014
Tougher round of sanctions against Russia, and the downing of Malaysia Airlines Flight 17 over eastern Ukraine, is prompting top energy industry executives to take a fresh look at the crisis; they are acknowledging that the escalating tensions could sharply hurt Western oil and gas companies with major investments in Russia, as well as service companies that are key technology suppliers. MORE
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Jul. 30, 2014
United States and Europe announce coordinated sanctions on Russia for its intervention in Ukraine; joint effort is intended to curb Russia's long-term ability to develop new oil resources. MORE
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Jul. 30, 2014
Op-Ed article by economics Prof James K Boyce praises bill to be introduced by Rep Chris Van Hollen that would require coal, oil and natural gas companies to buy permit for each ton of carbon in fuels they sell; notes that proceeds would be returned straight to American people as equal dividends; contends if any bill can win bipartisan support, it is Van Hollen's bill. MORE
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Jul. 29, 2014
Officials warn of growing dangers to civilians as fuel depot fire, sparked by fighting between militias, spreads near Tripoli international airport in Libya; depot contains more than 15.5 gallons of petroleum and diesel fuel, and potentially explosive liquid gas canisters. MORE
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Jul. 29, 2014
Tribunal in The Hague awards shareholders of now-defunct Yukos oil company more than $50 billion, ruling that Russian government wrongly seized company from Mikhail B Khodorkovsky; three-member tribunal calls seizure politically driven campaign to neutralize him and put its assets under state control. MORE
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Jul. 28, 2014
British government plans to make more land available for licensing for oil and natural gas exploration in first such expansion since 2008; it is opening large new tracts of land for exploratory drilling as part of an effort to encourage exploitation of shale fuel. MORE
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Jul. 24, 2014
Federal regulators say they will require railroads and oil shippers to use stronger tank cars to transport crude oil within two years; new rules are in response to spate of derailments and spills involving oil trains, and they lay out speedier timetable than initially expected to phase out old cars. MORE
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Jul. 24, 2014
Steven Rattner Op-Ed article calls for lifting of ban on export of crude oil; says move would allow price of crude oil in United States to rise to global price while keeping prices at gasoline pumps same; adds that lifting of ban would encourage drilling, create jobs and reduce reliance on imports; also calls for lifting of restrictions on export of natural gas, and for both actions to be expedited by Congress. MORE
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Jul. 23, 2014
Exxon Mobil moves forward in its project assisting Russian state energy company Rosneft in exploring Arctic Ocean for oil and natural gas, even as pressure mounts to impose sanctions against Russia after downing of passenger airline in Ukraine. MORE
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Jul. 19, 2014
Obama administration approves guidelines for seismic searches for oil and gas deposits in Atlantic Ocean, handing petroleum industry significant victory in bitter dispute with environmental groups over impact of such searches on marine life. MORE
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