Oil

Oil

Chevron predicts slump in 1Q production, blames weather

Source: 
The Wall Street Journal

Chevron Corp. is warning that its 1st quarter oil and gas production will drop compared to a year ago, blaming bad weather, and its earnings will dip compared to the 4th quarter, The Wall Street Journal reports.

Oil

Russia rejects US warnings over oil deal with Iran

MOSCOW (AP) — A senior Russian diplomat on Wednesday angrily rejected U.S. warnings against striking an oil-for-goods contract with Iran, saying that Moscow wouldn't be intimidated by threats.

Deputy Foreign Minister Sergey Ryabkov said in remarks carried by the state RIA Novosti news agency that an increase in Russian-Iranian trade is a "natural process that doesn't involve any elements of political or economic challenge to anyone."

Russian business daily Kommersant has reported that Moscow plans to buy 500,000 barrels of Iranian oil a day, a deal that would shatter an export limit defined by an interim nuclear agreement world powers and Iran reached last year.

Oil

Toyota gas cars get efficient engine from hybrids

TOKYO (AP) — Toyota has developed an efficient gasoline engine using technology fine-tuned with gas-electric hybrids, where the Japanese automaker is an industry leader.

Toyota Motor Corp. said Thursday the engine will be rolled out in 14 models this year and next year.

Oil

Oil falls on weak China trade data, US supply rise

The price of oil fell from a five-week high Thursday after China reported weak monthly trade data and a report showed a big increase in U.S. crude supplies.

Benchmark crude for May delivery was down 31 cents to $103.29 at 0525 GMT in electronic trading on the New York Mercantile Exchange. The contract rose $1.04 to settle at $103.60 on Wednesday amid unrest in eastern Ukraine after gaining more than $2 the day before. The last time it finished above $103 was on March 4.

Brent crude, a benchmark for international oil prices, fell 42 cents to $107.53 a barrel on the ICE exchange in London.

Oil

Boxer, Whitehouse news briefing on Keystone XL health impacts

Washington, April 10, 2014, 11:30 am

Sen. Barbara Boxer, Sen. Sheldon Whitehouse hold news media teleconference on "new developments" on health impacts of proposed Keystone XL pipeline. 

Oil

Gulf Coast crude supplies at record level: EIA

Source: 
Bloomberg

Oil movement out of the Gulf Coast is failing to keep pace with the amounts of crude flowing in, according to figures by the Energy Information Administration, which found that stockpiles in the region for the week ending April 4 hit record levels, Bloomberg reports.

Oil

Oil rises above $103 a barrel on Ukraine unrest

NEW YORK (AP) — The price of oil rose to a five-week high Wednesday amid unrest in eastern Ukraine, even as a report showed a large rise in U.S. crude oil supplies.

Benchmark U.S. crude oil for May delivery gained $1.04 to close at $103.60 on the New York Mercantile Exchange. The contract gained $2.12 on Tuesday. It last closed above $103 on March 4.

Brent crude, used to set prices for international oil varieties, rose 31 cents to $107.98 on the ICE Futures exchange in London.

Oil

Pipeline regulator levies record fines in 2013

Source: 
Bloomberg BNA

The Pipeline and Hazardous Materials Safety Administration has slapped pipeline operators with a record $9.78 million in penalties in more than 60 cases in 2013, one of the biggest levied against Exxon Mobil for a spill near Mayflower, Ark. last March, Bloomberg BNA reports.

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.

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