Moves in Canada to develop its own pipeline projects in lieu of the long-delayed Keystone XL are made trickier by the country’s upcoming national election, which will see Prime Minister Stephen Harper seeking another term, E&E reports.
A prediction from OPEC’s Secretary General that oil prices will rebound, with expectations that the European Central Bank would act to stimulate the Eurozone economy, helped boost oil prices early Thursday. West Texas Intermediate crude for March delivery was up 56 cents to $48.34 a barrel in electronic trading on the Nymex, while in London Brent was 86 cents higher to $49.89, Bloomberg reports.
Oil sands producer Suncor is proceeding with its long-term investment plans because the company believes the price of crude oil will return to the $90-$100 range in another three to four years despite its drastic plunge in recent months, the CFO told a conference Wednesday, The Wall Street Journal reports.
The Bureau of Land Management, the U.S. Army Corps of Engineers, the Environmental Protection Agency and the Fish and Wildlife Service have different ideas about how ConocoPhillips should proceed in drilling in the National Petroleum Reserve in Alaska, E&E reports.
Nearly 3 million gallons of briny water generated by crude oil production has leaked from a North Dakota pipeline and reached two creeks, making it the biggest spill of this type of wastewater since the state's Bakken formation oil boom began in 2006.
Here are some questions and answers about oil and gas saltwater spills:
The Senate's debate over amendments to the Keystone XL pipeline approval bill could conclude as soon as this week, Sen. Lisa Murkowski said Wednesday, after six amendments got votes and another eight were lined up for consideration.
"What we're doing right now, we're getting to the end of the amendments," she said in an interview, and raised the possibility that amendment debate could wrap up on Thursday. If that turns out to be an accurate prediction, a final vote on passage could come as soon as next week.
WILLISTON, N.D. (AP) — State officials say nearly 3 million gallons of saltwater generated by oil drilling has leaked from a North Dakota pipeline, though the environmental effects aren't immediately clear.
State health official Dave Glatt said Wednesday that the leak was detected Jan. 6, north of Williston. It's the largest saltwater spill since the state's oil boom began in 2006, and nearly triple the size of the previous record.
NEW YORK (AP) — Another choppy day on Wall Street ended with stocks broadly higher on hopes of new stimulus measures for Europe's weak economy and a sharp rise in oil prices.
Stocks flitted between gains and losses at the open of trading Wednesday, then rose on media reports that new stimulus measures by the European Central Bank will be as large as many investors had hoped. The bank is expected on Thursday to unveil a massive round of government bond buying, a program known as quantitative easing.
All 10 sectors of the Standard and Poor's 500 stock index rose. A gain in oil prices helped push the energy sector up 1.8 percent, the biggest gainer.
An agreement by the Environmental Protection Agency on standards for Argentinian biofuel makers to get credits in the U.S. could be a significant step toward opening the American market to imports, Reuters reports.
Ethanol stocks last week hit a two-year high of more than 20.6 million barrels, according to data from the Energy Information Administration, which said the rise came despite production inching down by 1,000 barrels a day, Platts reports.
Stung by lower oil and gasoline prices and raking in less from asset sales, Hess Corp. lost $8 million in the fourth quarter, compared to a profit of more than $1.9 billion in the period a year earlier, The Wall Street Journal reports.
Despite the Obama administration opening up the Atlantic to drilling in its proposed five-year leasing plan, major new projects are unlikely to proceed as long as oil prices remain under $50 a barrel, E&E reports.
The U.S. saw 4,850 megawatts of wind capacity added in 2014, more than four times the amount installed a year earlier, according to statistics from the trade group the American Wind Energy Association, which noted that much of the growth came in Texas, Bloomberg reports.
Releasing data on animal feeding operations to environmental groups under a Freedom of Information Act request didn’t harm the farmers involved, according to a ruling from federal Judge Ann Montgomery in Minnesota, who on Tuesday dismissed a motion for a summary judgment in the case, E&E reports.
Opower, which works with utilities to get reductions in customers’ energy use, has found that there is a drop during the Super Bowl, and in its Outlier blog presents the theory that watching TV in groups rather than as individuals is partly responsible, The Washington Post reports.
Climate modeling isn’t biased toward making links between human activity and climate change, according to a study published in the journal Nature online Wednesday, although researchers did find that studying 62-year trends – rather than 15-year periods -- gave a more accurate portrayal of mankind’s impact, the Los Angeles Times reports.
A laboratory complex set up by Southern California Edison in 2009 to keep the utility at the forefront of new developments in grid and energy technology gets results that gives the firm’s Advanced Technology Division an impact beyond its $19 million annual budget, Reuters reports.