Oil

Associated Press
Oil

Report on fracking chemicals in California touches off firestorm

An analysis published Wednesday by the Environmental Working Group found that hydraulic fracturing operations across California used a total of 197 unique chemicals, some of which are considered carcinogenic by regulators.

The report drew fire from drillers, who accused EWG of “fear-mongering” and highlighted the stringent regulatory system on fracking in the state.

Oil

Great Lakes gasoline prices jump after partial refinery shutdown

DETROIT (AP) — Oil and gas industry watchers said Wednesday prices at the pump have jumped across the Great Lakes region because of the unexpected, partial shutdown of a large Indiana oil refinery, and those increases could continue.

According to GasBuddy.com, the most affected states are Michigan, Indiana, Ohio and Illinois, but others, including Minnesota and Wisconsin, are also seeing increases.

Oil

Oil gains held back by inventory report

Source: 
MarketWatch

A smaller-than-expected drop in U.S. crude inventories reined in oil prices Wednesday. Light, sweet crude for September delivery finished 22 cents higher to settle at $43.30 a barrel on the Nymex, while in London, Brent gained 48 cents to $49.66, MarketWatch reports.

Oil

Refining margins unlikely to improve further

Source: 
The Wall Street Journal

Refining margins have helped ease some of the earnings pain for integrated oil companies during the crude prices collapse, but The Wall Street Journal says the picture may get gloomier going forward.

Oil

Helicopter flying from oil rig crashes in Nigeria, killing 4

LAGOS, Nigeria (AP) — A helicopter traveling from an oil rig crashed into the lagoon in Nigeria's commercial capital, Lagos, killing four people on Wednesday, according to aviation officials.

The helicopter belongs to Bristow, a Houston, Texas-based firm that charters helicopters to oil and gas companies, said spokesman Yakubu Dati of the Federal Airports Authority of Nigeria.

Judge OKs $5 million deal ending suit over Arkansas oil leak

LITTLE ROCK, Ark. (AP) — A federal judge approved a $5 million settlement among the operators of an oil pipeline, the state of Arkansas and the federal government Wednesday, finding that the deal to end claims stemming from a spill two years ago satisfied the public interest even if it might not be the best pact possible.

Crude oil breached the Pegasus pipeline on March 29, 2013, oozing 3,190 barrels of oil onto land and water at Mayflower, 20 miles northwest of Little Rock. Exxon Mobil Corp. agreed to pay $3.19 million in fines to the federal government, plus nearly $1.9 million in fines, fees and other payments to Arkansas.

Oil

Oil higher over predictions of jump in demand

Source: 
Reuters

International Energy Agency predictions of accelerating oil demand helped boost prices early Wednesday, despite concerns about the future of China’s economy. U.S. benchmark crude gained 30 cents to $43.38 a barrel in electronic trading on the Nymex, while in London Brent was 30 cents higher to $49.48, Reuters reports.

Oil

Shell CEO says 'personal journey' led to Arctic exploration

LONDON (AP) — The CEO of Royal Dutch Shell says he decided to drill for oil off the coast of Alaska after a careful evaluation of the risks.

In an interview with the BBC broadcast Wednesday, Ben van Beurden says that although drilling in the Arctic carries an "increased risk profile" because of the fragile environment, the reservoir Shell is exploring is "from a technical perspective relatively easy."

Oil

Fewer companies hauling oil equipment

Source: 
The Wall Street Journal

Oil company cuts prompted by lower prices have triggered a wave of consolidation in the trucking firms that haul drilling equipment, The Wall Street Journal reports.

Oil

Fast ramp-up for Iranian crude after sanctions, IEA predicts

Source: 
Reuters

The International Energy Agency predicts that Iran could quickly increase its crude production by as much as 730,000 barrels per day after sanctions are lifted as part of Tehran's nuclear deal with the West, Reuters reports.

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