Oil

Oil

DOT rail plan assumes using old cars for tar sands oil

Source: 
E&E

The plan released by the Department of Transportation to improve oil train safety would have 15,000 older tank cars converted to carrying Canadian tar sands oil without performing any major retrofits, a prospect that alarms environmental campaigners, E&E reports.

Oil

Oil drops again on strong supply, weaker China demand

Source: 
Reuters

With the world appearing to be awash in oil and demand in China slipping in July, prices were dropping again Wednesday. U.S. benchmark crude was down 17 cents to $97.20 a barrel in electronic trading on the Nymex, while in London Brent crude for September delivery fell for a fourth straight day, trading 24 cents lower to $102.78, Reuters reports.

Oil

Libya: Tanker sails from Ras Lanuf

Source: 
Reuters

The first shipment of crude since the end of a yearlong blockade has sailed from the Libyan port of Ras Lanuf, carrying 670,000 barrels in a tanker chartered by Austrian energy group OMV, National Oil Corporation said Wednesday, Reuters reports.

Oil

Despite reform, Pemex to keep most Mexican reserves

Source: 
The Wall Street Journal

Mexico’s national oil company Pemex will get to keep the lion’s share of the country’s reserves, giving it a big head start even as the country opens its doors to private energy companies, sources told The Wall Street Journal.

Oil

New Halliburton ad promotes the company in Colorado

Source: 
FuelFix

The recent deal that pulled fracking measures off Colorado’s ballot in November notwithstanding, the public relations battle over the oil and gas industry in the state is continuing, and drilling services giant Halliburton has a new ad running to promote the company there, FuelFix reports.

Oil

Oil prices slide on IEA report

Source: 
Bloomberg

A report from the International Energy Agency which points to ample crude supplies and lessening oil demand sent prices tumbling Tuesday. West Texas Intermediate crude fell 71 cents to $97.37 a barrel in trading on the New York Mercantile Exchange, while in London Brent crude dropped 1.6 percent to settle at a 13-month low, down $1.66 to $103.02, Bloomberg reports.

Oil

US buyers hold off on Kurdish crude, leaving tankers in limbo

Source: 
Reuters

Refiners Axeon Specialty Products and LyondellBasell NV are refusing to accept delivery of Kurdish crude until the legal cloud over its ownership is lifted, leaving the tankers Minerva Joy and United Kalavrvta waiting, anchored outside U.S. waters, Reuters reports.

EnergyGuardian
Oil

EIA: Gas prices will drop through December

The Energy Department's statistics wing on Tuesday offered drivers who have enjoyed declining gasoline prices more good news: The pain at the pump should continue to lessen.

In its monthly short term energy outlook, the Energy Information Administration said the prime driver of gasoline costs, crude oil prices, should remain steady for the rest of the year despite record U.S. refinery demand.

Oil

Russian sanctions could impact 3Q profits: Schlumberger

Source: 
FuelFix

Stricter sanctions against Russia are restricting some of its equipment and personnel in the country, Schlumberger said Tuesday, warning that the situation could affect its profits in the third quarter, FuelFix reports.

Oil

Texas energy company says worker slaying isolated

HOUSTON (AP) — Texas-based energy company Apache Corp. said it believes the killing of one of its supervisors in the western Egyptian desert in a carjacking was an isolated incident.

Spokesman Bill Mintz wouldn't elaborate Tuesday on how the Houston company made this assessment. He said the slaying was a police matter and that the company was cooperating with investigators.

Security officials in Egypt said the Apache worker's body was found Friday in a car on a road outside Cairo. The man had been shot to death as he was driving last Wednesday in the desert between Qarun and Karama, southwest of Cairo.

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