Oil

Oil

Oil higher on strong international data

Source: 
Reuters

An increase in a Chinese manufacturing index combined with faster-than-expected growth in European industrial activity helped boost oil prices early Thursday. U.S. benchmark crude gained 20 cents to $80.72 a barrel in electronic trading on the Nymex, while in London Brent crude was up 25 cents to $84.96, Reuters reports.

Oil

Drop in 3Q profits for Occidental spinoff

Source: 
FuelFix

California Resources Corp., a production unit that Occidental Petroleum Corp. is planning to spin off next month, saw a drop in net income to $188 million from July to September, which it attributed to lower crude prices and higher production costs, FuelFix reports.

Oil

Koch Industries closing in on $10M lobbying spend

Source: 
E&E

With $9.5 million laid out so far this year on lobbying -– according to figures in disclosure reports filed with the Senate –- Koch Industries has outspent Exxon Mobil and funneled significantly more into advocacy than it did in 2013, E&E reports.

Oil

Methane leaking in quantity in Bakken, Eagle Ford: Study

Source: 
E&E

Some ten percent of natural gas produced in drilling fields like those in the Bakken and Eagle Ford shale – most of which is methane -- leaks into the atmosphere, according to a study published in the journal Earth’s Future, E&E reports.

Oil

US steering clear of Kurdish oil dispute

Source: 
Platts

State Department energy envoy Amos Hochstein says the federal government won’t get involved in the dispute between Baghdad and the Kurdistan Regional Government in Iraq over ownership of oil on board the tanker United Kalavrvta, which has been sitting off the coast of Galveston for months, Platts reports.

Oil

Oil plunge resumes on stockpile increase

Source: 
Reuters

A greater-than-expected increase in crude inventories, coupled with falling stock prices and a strong dollar, sent oil prices tumbling again Wednesday. U.S. benchmark crude for December delivery slid 2.5 percent, or $1.97, to settle at $80.52 a barrel on the Nymex, while in London Brent lost $1.51 to end the trading day at $84.71, Reuters reports.

Oil

Nabors chief says lower oil prices could boost market for newer rigs

Source: 
FuelFix

Oil prices around the $80 dollar a barrel mark may galvanize the market for advanced drilling rigs, Nabors Industries CEO Anthony Petrello said in a conference call Wednesday, FuelFix reports.

Oil

More California drilling could risk health of millions: NRDC

Source: 
Los Angeles Times

An analysis of state environmental data by the Natural Resources Defense Council found that 5 million people in California already live within a mile of an active oil or gas well, and expanding drilling could expose them to greater health risks, the Los Angeles Times reports.

Oil

Crude oil exports rise toward record

While debate over the ban on crude oil exports gains momentum, shipments of U.S. and Canadian oil already permitted by law reached the second-highest volume since recordkeeping began in 1920, the Energy Department said Wednesday.

Exports of U.S. oil to Canada and re-exports of Canadian crude to customers overseas reached 401,000 barrels a day in July, the Energy Information Administration said in its weekly petroleum markets report.

Oil

Russian gov’t asked for $50B to help Rosneft

Source: 
The Wall Street Journal

In order to cope with Western sanctions, the state-owned oil giant Rosneft is asking the Russian government for more than 2 trillion rubles, the equivalent of nearly $50 billion, The Wall Street Journal reports.

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