Oil

Oil

Big blaze as CN oil train derails in Saskatchewan

Source: 
CBC

Authorities were concerned about the effects of toxic smoke after a Canadian National Railway freight train carrying oil and grain derailed and caught fire in Saskatchewan Tuesday, CBC reports.

Oil

Anticipated supply increase drags oil prices

Source: 
Bloomberg

The expectation that the Energy Information Administration will announce a jump in crude stockpiles in its weekly report pushed U.S. benchmark crude to a 17-month low Tuesday. West Texas Intermediate crude for November delivery dropped 1.7 percent, or $1.49, to settle at $88.85 a barrel on the Nymex, while in London Brent crude lost 68 cents to $92.11, Bloomberg reports.

Oil

New terminals coming on line to bring shale oil to California

Source: 
The Wall Street Journal

Plains All American Pipeline LP plans to open an oil terminal in Bakersfield this month, Alon USA Energy Inc. hopes to finish construction on a bigger one there next year, and Kinder Morgan is now receiving oil trains at a Richmond terminal after a judge dismissed a lawsuit that challenged its permits, all of which should open the flow of Bakken crude and lessen California’s reliance on more expensive imported oil, The Wall Street Journal reports.

Oil

Juneau says he’s followed the rules about BP spill claims

Source: 
FuelFix

BP has asked for the removal of Patrick Juneau, the man in charge of Deepwater Horizon Claims Center, claiming he has misinterpreted its agreement with attorneys for the plaintiffs in the spill case, but in a brief filed with the U.S. Supreme Court Juneau said he has not made any interpretations but has merely followed the settlement rules, FuelFix reports.

Oil

Oil drops on weak German data, supply build expectations

Source: 
Bloomberg

A bigger-than-expected drop in German industrial production coupled with predictions of a growth in U.S. crude inventories combined to send oil prices dropping again early Tuesday. West Texas Intermediate crude for November delivery was down 41 cents to $89.93 a barrel in electronic trading on the Nymex, while in London Brent lost 78 cents to $92.01, Bloomberg reports.

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US-Canada energy trade will survive Keystone delays, says lobby chief

Source: 
Bloomberg

Canada’s own pipeline construction plans and energy trade with the U.S. will move ahead no matter what happens to the long-delayed Keystone XL pipeline project, Brenda Kenny, Canadian Energy Pipeline Association President, told Bloomberg in an interview.

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Romania lifts freeze placed on Lukoil over probe

BUCHAREST, Romania (AP) — Russian crude producer Lukoil says Romanian authorities have lifted a freeze on its assets and activity that was placed as a result of a probe into tax evasion and money laundering worth 230 million euros ($290 million).

Lukoil said Tuesday that its Petrotel refinery in Romania was preparing to resume operations after a court ruled that a freeze place last week on its bank accounts, assets and refining activities could be lifted. The probe, however, continues.

Oil

New technology reducing drilling footprint in Colorado

Source: 
The Denver Post

Energy companies like Encana Corp. and Anadarko are working to reduce the impact their drilling has on homes and businesses in the neighborhood, The Denver Post reports.

Oil

Oil higher as dollar drops, on concerns slide has gone too far

Source: 
Bloomberg

With the dollar dropping and traders thinking the recent decline in oil prices has been too deep, crude recovered somewhat on Monday. West Texas Intermediate crude for November delivery gained 60 cents to settle at $90.34 a barrel on the Nymex, while in London Brent ended the session up 48 cents to $92.79, Bloomberg reports.

Oil

Refinery spill off Hawaiian coast

Source: 
Star-Advertiser

A problem with a hose caused 1,200 gallons of oil and water to be released off the coast near a refinery operated by Hawaii Independent Energy, creating a sheen covering three-fourths of a square mile, the Star-Advertiser reports.

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