Oil

Oil

Heitkamp: Programs to boost oil train safety need more money

Source: 
The Hill

In the wake of destructive oil train derailments, Sen. Heidi Heitkamp, D-N.D., is urging Senate appropriators to set aside more money for the Transportation Department's rail safety programs, in particular to pay for sufficient inspectors, The Hill reports.

Oil

More financial advisers needed for newly rich ND client base

Source: 
The Wall Street Journal

More financial advisers are needed in North Dakota, to cater to people and businesses benefiting from the state's oil boom, The Wall Street Journal reports.

Oil

Feds say oil trains should have two-man crews

WASHINGTON (AP) — Responding to a series of fiery train derailments, federal regulators said Wednesday they will propose that trains transporting crude oil have at least two-man crews and requirements aimed at preventing parked train cars from coming loose and causing an accident like one in July that killed 47 people.

The Federal Railroad Administration had asked a freight rail industry advisory committee to make recommendations on whether two-man crews should be required, but the industry officials were unable to reach a consensus after working on the issue for months. Federal officials said they decided to move ahead with the two-crew member requirement anyway.

"Safety dictates that you never allow a single point of failure," Joseph Szabo, head of the railroad administration, said in a statement.

Oil

Wash Post revisits Koch Industries Canadian oil sands leases

Source: 
The Washington Post

The Washington Post, in re-examining Canadian oil sands leases, has clarified that Koch Industries has the biggest U.S. presence in the region, but that two Canadian firms may have slightly larger territory.

Oil

Oil company fined for failing to report production

ARTESIA, N.M. (AP) — The federal government is fining an Artesia oil man more than $700,000 for failing to submit reports on production on its federal leases in New Mexico.

The Department of the Interior's Office of Natural Resources Revenue said Tuesday it has assessed Louis Fulton, doing business as C.F.M. Oil Company , a $717,136 civil penalty.

Oil

Oil stays above $102 per barrel on Ukraine unrest

Oil declined Wednesday but stayed above $102 per barrel amid unrest in eastern Ukraine and the possibility of lower U.S. production.

Benchmark U.S. crude oil for May delivery was down 44 cents to $102.12 at 0910 GMT in electronic trading on the New York Mercantile Exchange. The contract gained $2.12 to $102.56 on Tuesday.

Brent crude, used to set prices for international oil varieties, shed 26 cents to $107.37 on the ICE exchange in London.

Oil

Statoil working to cut carbon emissions from oil sands oil processing

Source: 
Bloomberg

Norway's Statoil is looking to new technology to cut its carbon dioxide emissions from processing Canadian oil sands, with a goal of reducing them by 20 percent in a six-year-period, Bloomberg reports.

Oil

La. levee board lawyers willing to change fee contract in major lawsuit

NEW ORLEANS (AP) — Lawyers for a south Louisiana flood control board say they'll change their contingency fee contract in a suit accusing 97 oil and gas companies of contributing to coastal erosion if the companies will pay them as part of a settlement.

The lawsuit, which Gov. Bobby Jindal opposes, seeks to hold the industry accountable for damage done by dredging for pipelines and canals and other activity in fragile coastal wetlands.

Oil

South Dakota farmers complain about rail service

SIOUX FALLS, S.D. (AP) — Some South Dakota farmers say North Dakota's Bakken oil field has created a shortage of rail engines and crews to move harvested grain to market.

A group of farmers during a Tuesday press conference said the issue has reached a critical point. They say they want President Barack Obama to issue an executive order calling a railroad company to send engines to South Dakota to haul the hundreds of railcars that are waiting to be moved.

Oil

Gas prices jump 15 cents in NC, 17 cents in SC

CHARLOTTE, N.C. (AP) — Motorists across the Carolinas are hoping the oil industry will soon put the brakes on rising gasoline prices.

AAA Carolinas says the average price of gas in North Carolina has jumped 15 cents in the last month from $3.38 on March 8 to $3.53 on Tuesday. It says in South Carolina the increase was 17 cents, from $3.19 a month ago to $3.36 on Tuesday.

The auto club says North Carolinians are paying the highest price for gas since last July 27, when the state average was $3.54. After starting 2014 at $3.31, gas prices fell to a year-low of $3.28 on Feb. 8 before starting to rise.

 

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