Oil

Oil

Oil boom hits bump of outdated roads

Source: 
Bloomberg

As oil companies look to take advantage of shale oil fields in states like Texas and North Dakota, increased truck traffic is quickly damaging roads and highways, a development that could slow the current energy expansion, Bloomberg reports.

Oil

Report suggests oil companies unprepared for cyber threats

Source: 
FuelFix

The Ponemon Institute found that only 17 percent of security executives at energy and manufacturing firms surveyed have deployed key cybersecurity initiatives, despite the fact that most of the companies have experienced a compromise in the past year, FuelFix reports.

Oil

Oil prices to keep dropping on supply boost from Libya, US: Analysts

Source: 
Bloomberg

Wall Street analysts monitored by Bloomberg say revived oil production and shipping in Libya and continued growth in U.S. production will likely lead to declining prices in the second half of the year.

Oil

Republican intel chief: Get tougher on China

WASHINGTON (AP) — The chairman of the House Intelligence Committee on Thursday accused China of "gluttonous, naked aggression" in its drive to control territory and resources in the South China Sea.

Republican Rep. Mike Rogers said it was time to be less "deferential" to Chinese officials and be more direct and aggressive in American diplomacy.

Oil

EPA trying to confirm ND spill didn't reach lake

MANDAREE, N.D. (AP) — Officials are assessing a spill of oil-drilling saltwater from a North Dakota pipeline to ensure none of the brine affected the lake an American Indian reservation uses for drinking water, the Environmental Protection Agency said Thursday.

In its first public statement in the two days since the spill was detected, the agency said it had no confirmed reports that the saltwater had reached Bear Den Bay. It leads to Lake Sakakawea, which provides water for the Fort Berthold reservation occupied by the Mandan, Hidatsa and Arikara tribes in the heart of western North Dakota's booming oil patch.

Oil

Oil rises for first time in 2 weeks, near $103

The price of oil bounced back late Thursday and rose for the first time in two weeks.

Benchmark U.S. crude for August delivery gained 64 cents to $102.93 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils, rose 54 cents to $109.01 on the ICE Futures exchange in London.

Oil

EIA projects slightly higher gasoline spending this summer

Source: 
FuelFix

The Energy Information Administration projects this summer's average gasoline price per gallon will be $3.66, about two percent higher than last summer's average, FuelFix reports.

Oil

Greater European diesel use pushes Exxon into action

Source: 
The New York Times

More Europeans are switching to diesel-powered vehicles in an effort to save on fuel, The New York Times reports, and Exxon Mobil is planning to boost investments in diesel refining to take advantage of the trend,

Oil

OPEC: Industrialized nations' oil demand to rise on US production boost

Source: 
The Wall Street Journal

OPEC projected that industrialized nations will see an increase in oil demand for the first time since 2010 next year as U.S. oil production is expected to grow at a seven-percent rate, The Wall Street Journal reports.

Oil

Oil and gas drives Houston to top wage growth

Source: 
FuelFix

Pay tracker PayScale reported that Houston led the nation in wage growth over the second quarter, due in part to an increase in oil and natural gas industry wages, FuelFix reports.

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