Plans for an oil sands surface mine in western Canada are being put off indefinitely by Royal Dutch Shell, following its move last month to trim 3,000 jobs in the region, The Wall Street Journal reports.
Record high inventories in the U.S. and a strong dollar were continuing to pressure oil prices early Monday. U.S. benchmark crude fell 63 cents to $49.71 a barrel in electronic trading on the Nymex, while in London Brent was down $1 to $59.34, Reuters reports.
The flow of crude oil into the Hariga terminal from the Sarir oilfield – Libya’s largest – has resumed about a week after a pipeline blast following repairs, although fighting is continuing elsewhere, The Wall Street Journal reports.
United Steelworkers workers walked off the job at three refineries and a chemical plant over the weekend, extending their strike to include 15 facilities and 6,600 workers across the country. No new negotiations were scheduled between representatives of the union and Shell Oil Co. as the two sides traded comments about the way maintenance is handled, FuelFix reports.
BILLINGS, Mont. (AP) — Exxon Mobil Corp. has asked federal regulators to reconsider a $1 million penalty imposed against the oil giant over a 63,000-gallon crude spill into Montana's Yellowstone River.
The Texas-based company asked the Department of Transportation to withdraw three of its four findings of pipeline safety violations. It also asked for the penalty amount to be reduced.
BILLINGS, Mont. (AP) — The federal government predicts that trains hauling crude oil or ethanol will derail an average of 10 times a year over the next two decades, causing more than $4 billion in damage and possibly killing hundreds of people if an accident happens in a densely populated part of the U.S.
The projection comes from a previously unreported analysis by the Department of Transportation that reviewed the risks of moving vast quantities of both fuels across the nation and through major cities. The study completed last July took on new relevance this week after a train loaded with crude derailed in West Virginia, sparked a spectacular fire and forced the evacuation of hundreds of families.
Saying that stiffer safety requirements under consideration are not enough, Sen. Charles Schumer, D-N.Y., has written to the Energy and Transportation Secretaries, demanding that volatile gases get removed from crude before it is transported by rail, FuelFix reports.
Appropriations subcommittee chair Sen. Lamar Alexander, R-Tenn., told members of the Nuclear Regulatory Commission Wednesday that the agency needs to ask for more money to move forward on the planned Yucca Mountain nuclear waste repository, The Hill reports.
Criticizing the management practices of Chemical Safety Board chief Rafael Moure-Eraso, Democratic and Repubican members of the House Oversight and Government Reform Committee are demanding that he resign before his term ends in June, National Journal reports.
Voters in Hermosa Beach have turned thumbs down on a plan to allow oil drilling in a municipal parking lot, which means the California community will have to pay $17.5 million to terminate a contract with E&B Natural Resources, The New York Times reports.
Oil companies from China, Norway, Austria and Dubai – as well as Houston’s Occidental Petroleum – are withdrawing staff and winding down operations in Yemen as unrest in the country escalates, The Wall Street Journal reports.
France’s troubled state-owned nuclear operator Areva has to cut costs and find a way to manage tricky projects that are hurting its bottom line, CEO Philippe Knoche said after the company reported a loss of almost $5.4 billion last year, The New York Times reports.
Did Secretary of State Hillary Clinton's ties to the oil industry affect the State Department's review of the Keystone pipeline? Environmental groups are concerned that her use of private email for official business might make it harder to find out, National Journal reports.
Democratic Gov. Tom Wolf has proposed replacing Pennsylvania’s impact fee – a flat charge on each well drilled – with a severance tax on the value and quantity of the gas extracted, the Pittsburgh Post-Gazette reports.