Oil

Oil

Nebraska judges could speed up, slow down Keystone

Source: 
Reuters

The seven judges on Nebraska’s Supreme Court – expected to release a decision on a Friday in the next few weeks -- could speed up or slow down development of the Keystone XL pipeline, depending on whether they back a lower court ruling which held that the pipeline route should have been a matter for the state’s Public Service Commission, Reuters reports.

Oil

U.S. shale drilling created oil glut that fuelled price collapse

Source: 
The Wall Street Journal

The seeds of the current oil price slide were planted in the Eagle Ford Shale in 2008, The Wall Street Journal reports in its timeline of developments.

Oil

Low oil prices to dampen interest in Mexican shale

Source: 
Bloomberg

Offshore offerings may be the most attractive proposition out of Mexico’s newly opened energy sector, now that the falling price of crude makes shale drilling less attractive, Bloomberg reports.

Oil

With no letup in crude price decline, rig count falls

Source: 
FuelFix

The relentless decline in crude prices appears to be having some impact on drilling, as the number of operating oil rigs fell by 29 last week, according to statistics from Baker Hughes, FuelFix reports.

Oil

Like low gasoline prices? So does the station owner

NEW YORK (AP) — So you think you are finally getting one over on the gas stations as you pay well under $3 a gallon for the first time in four years? Guess again.

Gas stations love low prices too — and not just because customers are nicer when they are paying less.

"We're in the same shoes as the consumer, the cost of fuel is less for us," says Kevin Beyer, who owns Performance Fuels, a filling station and convenience store in Smithtown, NY.

Oil

Cheaper gas, food lower US producer prices

WASHINGTON (AP) — Falling gas and food costs pushed down overall U.S. wholesale prices last month, evidence that cheaper oil worldwide is limiting inflation.

The Labor Department said Friday that the producer price index fell 0.2 percent in November, after rising by the same amount in October. In the past 12 months, producer prices have risen just 1.4 percent, the smallest yearly increase since February.

Oil

Oil prices fall further after IEA cuts forecast

LONDON (AP) — Oil prices fell further Friday after the International Energy Agency lowered its forecast for global oil demand next year.

In its monthly oil report, the agency said global oil demand in 2015 will grow by 900,000 barrels a day — 230,000 less than previously forecast — to 93.3 million.

Oil

Oil spill in Bangladesh threatens aquatic animals

DHAKA, Bangladesh (AP) — Authorities in Bangladesh were urgently assessing environmental damage in one of the world's largest mangrove forests on Friday after an oil tanker sank, threatening wildlife in the UNESCO World Heritage site, officials and local media said.

The oil tanker carrying more than 350,000 liters (92,500 gallons) of bunker oil sank Tuesday on a major river flowing through the Sundarbans after being hit by a cargo vessel.

Oil

Cheaper pump prices help fuel retail sales

Source: 
The Wall Street Journal

An increase in November retail sales is partly attributed to the fall in gasoline prices, down below $2.50 a gallon in many areas, according to The Wall Street Journal.

Oil

Halliburton: 1,000 jobs to go, not in North America

Source: 
FuelFix

Oilfield services giant Halliburton, whose CFO Mark McCollum said falling oil prices were hitting the company’s international operations the hardest, has announced it will shed 1,000 jobs in Eastern Hemisphere operations, FuelFix reports.

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