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.
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.
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.
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.
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.
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,
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.
Moves by the Commerce Department to allow Pioneer Natural Resources Ltd. and Enterprise Products Partners LP to export lightly processed crude known as condensate are being “held without action,” sources told Reuters, which says the delay may give the agency more time to put together comprehensive guidelines.
Concerns about the shutdown of the Coffeyville refinery in Kansas after a fire pressured U.S. crude prices, benchmark WTI for September delivery dropped 70 cents to $100.97 while in London Brent crude gained on the announcement of fresh Russia sanctions, up 15 cents to $107.72, Bloomberg reports.
As violence in Libya worsens, shelling between rival militias at Tripoli airport has seen a third fuel storage tank set on fire, while the U.S. has already evacuated its embassy staff, Bloomberg reports.
Commerce Department moves to increase duties on many solar panels coming from China and Taiwan could hurt the industry in the U.S., according to warnings from Canadian companies Canadian Solar Inc. and Trina Solar Ltd., The Wall Street Journal reports.
At least six members of the Secretary of Energy Advisory Board, which makes policy recommendations to Energy Secretary Ernest Moniz, have had their financial conflicts of interest waived by the Department so that they can serve, according to documents obtained by E&E through the Freedom of Information Act.
American Electric Power Co.'s failure to reach its 2008 sales figures in the years since is an example of how utilities will have to rethink their traditional assumptions that demand for electricity will increase in the future, The Wall Street Journal reports.
Demand for drilling and production equipment is up at National Oilwell Varco and is likely to stay that way, according to chief Clay Williams, as the company reported a 17 percent gain in profit in the second quarter compared to a year earlier, FuelFix reports.
Canada’s Talisman Energy refused comment on details of its negotiations with Spanish oil giant Repsol, even as the company reported a second quarter loss of $237 million on lower gas prices and higher royalty payments, Reuters reports.
Senate Budget Committee chair Sen. Patty Murray, D-Wash., said Tuesday that long term budgets don’t reflect climate change costs, while Sens. Ron Johnson, R-Wisc., and Angus King, I-Me., debated over the impact of carbon emissions on climate change, The Hill reports.