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Tag Archives: Oil

Deer Lakes Park drilling might net up to $74 million

Oil = $

The size of Deer Lakes Park should sweeten deals to drill under it for natural gas, an industry analyst said Monday. Range Resources and Huntley & Huntley offered Allegheny County $3.5 million up front and 17 percent of natural gas sales, generating $35 million to $74 million over decades, Matt Pitzarella, a spokesman for Range, said. The joint offer was ...

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Ethanol plant a go: Work to start in January

biofuel

Work will begin on the Dakota Spirit AgEnergy ethanol plant sometime in January, according to information released by the company Thursday. DSA is a planned 65-million-gallon per year renewable fuel plant owned by Great River Energy at Spiritwood. When fully operational, the plant will purchase about 23 million bushels of corn. Along with ethanol, the plant will produce fuel-grade corn ...

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Exxon Mobil: Decades of life left in fossil fuels

fossil fuel

WASHINGTON — Oil and natural gas will provide the bulk of the energy needed to fuel the world by 2040, with most of it coming from North America, Russia and the Middle East, Exxon Mobil Corp. predicted Thursday. According to the latest version of the company’s annual long-term outlook, the two fossil fuels will reign supreme in three decades, with ...

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Daunting days ahead as Mexico readies oil opening

mexico flag

Poised to open oil industry, Mexico faces daunting challenges in regulation, competiveness MEXICO CITY (AP) — Mexico’s sweeping away of seven decades of nationalist protections and letting foreign companies back into its oil fields is crucial to bringing the expertise and money needed to rejuvenate its sclerotic energy industry, supporters say. But even after the strong approval given by both ...

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Delta expects refinery to make money next year

delta

Delta Air Lines, which bought the former ConocoPhillips refinery in Trainer, Delaware County, to secure a steady source of discounted jet fuel, said Wednesday the refinery lost $100,000 in 2013, but is expected to be profitable next year. Although some analysts had expressed skepticism about an airline diversifying into oil refining, a capital-intensive business with low margins, Delta president Edward ...

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New oil refinery planned; Devils Lake wants to know more

devils lake ND

Plans for an oil refinery in Devils Lake are exciting, but residents want information about the environmental consequences, especially in light of the lake’s world-class fishery, Mayor Dick Johnson says. American Energy Holdings, a Michigan-based company, announced plans to build a 20,000-barrel refinery on the west side of Devils Lake using crude from the Bakken oil patch. Spokesman Mark Carlson ...

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Why the sudden rise in oil products prices in Azerbaijan?

oil money

Since early December the retail price of oil products, in particular gasoline and diesel fuel in Azerbaijan, an oil producing country, has increased, costing the consumer an average of $0.25 per liter for gasoline and about $0.20 for diesel products. The retail price on AI- 95 octane gasoline was set at 0.8 manat ($1.02) per liter and retail price on ...

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Budget agreement preserves tax breaks for oil industry

10%

WASHINGTON — The oil and gas industry was spared big hits in the new congressional budget deal, which preserves tax breaks long used by energy companies. Instead, the deal makes modest cuts to a government ultradeep-water research program and to a policy that lets companies collect interest on royalty overpayments. Industry lobbyists were pleased. Independent Petroleum Association of America spokeswoman ...

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Mexico’s lower house quickly takes up energy bill

Mexico’s lower house in raucous debate on energy overhaul just hours after Senate OKs bill MEXICO CITY (AP) — Mexico’s lower house of Congress began a raucous, marathon debate expected to last through the night and well into Thursday on historic legislation that would open the state-run oil industry to private investment. Just hours after the measure passed the Senate ...

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