Oil

Oil

Louisiana import facility starting to store excess U.S. crude

Source: 
The Advocate

With U.S. production piling oil into storage at record levels, the Louisiana Offshore Oil Port – originally build to handle imports – has been auctioning off space to store domestic crude, The Advocate reports.

Oil

Deal with lenders keeps Willbros going

Source: 
FuelFix

Houston-based engineering firm Willbros Group, which builds oil industry equipment, said last week it escaped defaulting on its debt by restructuring its credit and borrowing, FuelFix reports.

Oil

Pemex begins to restore production at fire-damaged platform

MEXICO CITY (AP) — Mexico's state-run oil company continues to search for three missing workers from a platform fireball that killed four others, while beginning to restore production at the damaged Gulf of Mexico facility, officials said Sunday.

Petroleos Mexicanos, or Pemex, will start processing 170,000 barrels of crude by Monday and expects to restore 80 percent of the pre-fire production in the coming week, said Gustavo Hernandez, general director of exploration and production.

US geologist freed after serving 8 years in China prison

BEIJING (AP) — A Chinese-born American geologist was released from prison in China after serving more than eight years on charges of procuring state secrets, a human rights group said Saturday.

Xue Feng returned to his family in Houston, Texas, on Friday after being deported immediately following his release, the San Francisco-based Dui Hua foundation said.

Photo courtesy David Ruth
Oil

Newsmaker: Medlock says low prices obstacle to lifting export ban

The author of a recent study concluding that the 40-year-old crude oil export ban is artificially discounting the price of high-quality shale oil, says the current low-price environment is one of the biggest obstacles to action on the issue.

In an interview with EnergyGuardian, Kenneth Medlock, senior director of the Center for Energy Studies at Rice University’s Baker Institute for Public Study, said the reluctance among lawmakers to lift the ban stems from a fear that they may be blamed for gasoline price increases.

Oil

Death toll in Mexico gasoline tanker blast rises to 17

MEXICO CITY (AP) — The death toll from a March 26 gasoline tanker truck explosion in southern Mexico has risen to 17 after more victims died of burn injuries at hospitals.

The explosion occurred in the Gulf coast state of Tabasco when villagers tried to take gasoline from a tanker truck that had crashed.

Hiring slowdown: US employers added just 126K jobs in March

WASHINGTON (AP) — A weakening U.S. economy spilled into the job market in March as employers added just 126,000 jobs — the fewest since December 2013 — snapping a 12-month streak of gains above 200,000.

The unemployment rate remained at 5.5 percent, the Labor Department said in its monthly report Friday.

China's ex-security chief, oil boss indicted on corruption charges

BEIJING (AP) — Prosecutors charged former national security chief Zhou Yongkang with corruption and leaking of state secrets, setting the stage for him to become the highest-level politician to stand trial in China in more than three decades.

The Supreme People's Procuratorate announced the long-expected indictment on its website Friday following a lengthy investigation that also scrutinized Zhou's former allies in government and the oil industry, but gave no new substantial details of the accusations against him.

Oil

Flaring limits move N.D. to order 5 drillers to cut back

Source: 
The Bismarck Tribune

Five companies that had been flaring more gas than allowed under new North Dakota restrictions have been ordered by state regulators to cut production on certain wells, The Bismarck Tribune reports.

Oil

Oil platform fire won’t interfere with Pemex deliveries

Source: 
Bloomberg

Mexican oil company Pemex says it will meet its obligations for oil deliveries despite a deadly platform fire in the Gulf of Mexico, seeing no need to declare force majeure, a spokesperson told Bloomberg.

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