Oil

Oil

Judge sticks to BP gross negligence ruling

NEW ORLEANS (AP) — A federal judge in New Orleans is sticking to his ruling that said BP's conduct in the 2010 Gulf of Mexico oil rig disaster amounted to "gross negligence."

It could mean close to $18 billion in federal penalties for the oil giant.

Oil

ND mulls rules to make crude safer for shipment

BISMARCK, N.D. (AP) — North Dakota's top energy industry regulator unveiled new rules Thursday that would require companies to reduce the volatility of crude before it's shipped by rail.

State Mineral Resources Director Lynn Helms told the state Industrial Commission that all crude from North Dakota's oil patch would have to be treated to remove certain liquids and gases to "ensure it's in a stable state" before being loaded onto rail cars.

Oil

Without Keystone, Canadian crude still surging to U.S. refineries

Source: 
Bloomberg

Even with the Keystone XL pipeline stalled, Canadian oil producers are shipping large supplies of crude to U.S. refineries on the Gulf Coast, and ARC Financial Corp. projects the volume of crude being processed in the U.S. could exceed 400,000 barrels a day next year, Bloomberg reports.

Oil

Officials make OPEC rounds ahead of meeting

Source: 
Bloomberg

Officials from OPEC nations Iraq, Libya, Venezuela and Saudi Arabia have been traveling to other member states in recent days in what may be attempts to reach a consensus on how to respond to falling oil prices ahead of the cartel's Nov. 27 meeting, Bloomberg reports.

Oil

Iraq, Kurds strike interim deal on oil exports and payments

Source: 
The New York Times

Iraq and the Kurdistan Regional Government have reached an interim deal to settle a dispute over Kurdish oil exports; under the deal, Iraq will pay the Kurds $500 million in exchange for selling 150,000 barrels a day of Kurdish oil, The New York Times reports.

Oil

Canada's crude imports to keep declining as domestic oil displaces

Source: 
Reuters

Canadian imports of crude oil have decreased at an average five percent for the past four years, and the National Energy Board says that trend will be maintained as Canadian oil continues to displace imports, Reuters reports.

Oil

Ex-wife of Continental CEO appeals $1 billion divorce as too small

Source: 
FuelFix

Sue Ann Hamm, ex-wife to Continental Resources CEO Harold Hamm, plans to appeal a $1 billion divorce settlement, her lawyer saying the deal undervalues the share of wealth she's entitled to, Reuters reports.

Oil

Baker Hughes says in deal talks with Halliburton

HOUSTON (AP) — Oilfield-services provider Baker Hughes Inc. said Thursday it is talks with rival Halliburton Co. about a potential merger.

The company's brief statement late Thursday said there was no guarantee that a deal would be done and offered no further details.

Oil

Mexico's Pemex signs $10B credit lign with Chinese bank

Source: 
Reuters

Mexico's state-owned Petroleos Mexicanos has signed a $10 billion initial line of credit from Chinese bank ICBC for new exploration projects and offshore acquisitions, Reuters reports.

EnergyGuardian Photo
Oil

Keystone XL drama swirls under cloud of potential veto

A White House official on Thursday raised the threat of a veto by President Barack Obama if Congress clears a bill to approve the Keystone XL pipeline, lowering the chances for a fast post-election victory for the project's backers.

The comments cast a shadow over the public push by Sen. Mary Landrieu, D-La., to convince three additional Democrats to vote for the project next Tuesday, beyond the 45 Republicans and dozen Democrats already behind her approval bill.

At the same time, Republicans, citing the possibility of a veto, vowed to bring back the project next year if the Landrieu gambit fails. 

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