Home / Energy / Oil (page 30)

Oil

Iran: No output freeze until it restores pre-sanctions level

Iran: no output freeze until it restores pre-sanctions level

PARIS (AP) — Iran won’t consider a production freeze until it reaches its pre-sanctions level of output of 4.2 million barrels a day, a senior energy official said Thursday. Mehdi Hosseini, who heads the oil contracts revision committee at Iran’s Petroleum Ministry, said a freeze at anything less than that would be a continuation of the sanctions imposed on his ...

Read More »

Group sues Interior Department over deep-sea well permits

Group sues Interior Department over deep-sea well permits

NEW ORLEANS (AP) — An environmental group sued the Interior Department on Wednesday for what it called the “fast track” permitting of potentially dangerous oil and natural gas wells in offshore waters. The action came on the sixth anniversary of the nation’s largest offshore oil spill. The federal lawsuit, filed by the California-based Center for Biological Diversity in Washington, D.C., ...

Read More »

Oil bust sends Texas budget writers back to work; what now?

AUSTIN, Texas (AP) — The biggest Texas oil bust in decades has lawmakers taking stock of the fallout as other energy producing states slash spending. House budget writers are meeting Tuesday for the first time in 2016 to figure out how much the oil and gas downturn is hurting the state’s bottom line. Oil prices fell in the past two ...

Read More »

‘Hard choices’ in Texas as oil bust, costly lawsuits collide

AUSTIN, Texas (AP) — The oil bust already shrinking Texas’ coffers is colliding with the possibility of the state getting socked with multibillion-dollar verdicts in major lawsuits, budget officials said Tuesday, which could test years of Republican resistance to cracking the state’s emergency piggybank. No lawmakers or budget-crunchers raised the potential of spending cuts or a shortfall when the Legislature ...

Read More »

Oil majors show interest in Mexico’s offshore auction

Oil majors show interest in Mexico's offshore auction

Mexico’s forthcoming auction of offshore oil and gas fields is drawing significant interest, according to a report by Fuel Fix. So far, 21 companies have asked to review data on fields within Mexico’s territorial waters in the Gulf of Mexico. Major oil companies, such as ExxonMobil, BP, and Chevron, have expressed interest in the available fields. The country will auction ...

Read More »

Bakken crude sold as export first time since ban lifted

Bakken crude sold as export

Hess Corp. confirmed last week that it has sold Bakken crude to a buyer in Europe, the first shipment of North Dakota’s light crude since U.S. Congress lifted the decades-old oil export ban last December. As reported by Reuters, the shipment consisted of 175,000 barrels of Bakken crude. In early April the crude was loaded at a terminal in St. ...

Read More »

Senate approves wide-ranging energy bill

WASHINGTON (AP) — The Senate approved a wide-ranging energy bill Wednesday that would promote a variety of energy sources and speed federal approval of projects to export liquefied natural gas to Europe and Asia. Senators backed the measure, 85 to 12, the first ambitious energy bill approved by the Senate in nearly a decade. The bill would boost renewables such ...

Read More »

Oil island draws heat for ‘disrepair and dysfunction’

LOS ANGELES (AP) — One of California’s early offshore oil drilling operations is under fire from state regulators to clean up its act after severely corroded and unsafe wells and other equipment were found at the idle facility as part of ramped-up inspections. The Department of Conservation focused its renewed enforcement efforts on a facility with ties to an oil ...

Read More »

Alaska legislators head into overtime with big issues unresolved

JUNEAU, Alaska (AP) — The Alaska Legislature went into overtime Monday as it continued to wrestle with how to confront an estimated $4 billion state budget deficit. House Speaker Mike Chenault said legislative leaders planned to keep working past the voter-approved 90-day session limit in the hopes of reaching a compromise on outstanding issues, like oil and gas tax credits, ...

Read More »

The Latest: Drilling protesters: ‘The Gulf is not for sale!’

The Latest: Drilling protesters: 'The Gulf is not for sale!'

NEW ORLEANS (AP) — The Latest on public meeting about continued Gulf of Mexico offshore oil leasing (all times local): 3:30 p.m. About 50 opponents of continued oil and gas leases in the Gulf of Mexico rallied on the sidewalk and then brought their chants into a public meeting about potential impacts of continuing the lease program for five more ...

Read More »