WASHINGTON (AP) — In a far corner of North Dakota, just a few hundred miles from the proposed path of the Keystone XL pipeline, 84,000 barrels of crude oil per day recently began flowing through a new line that connects the state's sprawling oilfields to an oil hub in Wyoming.
In West Texas, engineers activated a new pipeline that cuts diagonally across the state to deliver crude from the oil-rich Permian Basin to refineries near Houston. And in a string of towns in Kansas, Iowa and South Dakota, local government officials are scrutinizing the path of pipeline extensions that would pass nearby.
ALGIERS, Algeria (AP) — Five years after it first came to light, the trial began Sunday for one of Algeria's most notorious corruption scandals involving the state-run oil company that generates most of the country's revenue.
In a packed courthouse that included a representative of the German embassy, prosecutors read out the charges against former head of Sonatrach, Mohammed Meziane, his two sons, and 16 other company officials.
NEW YORK (AP) — The price of oil is tumbling again, rattling an already-shaken oil industry and heralding lower prices for consumers.
The price of oil fell 10 percent this week, approaching its lowest price in six years. Many expect it to fall further in the coming weeks because supplies are rising and the summer driving season is still months away.
An International Energy Agency report that U.S. production is so far failing to slow down put new pressure on oil prices early Friday. U.S. benchmark crude was 35 cents lower at $46.70 a barrel in electronic trading on the Nymex, while in London Brent fell 50 cents to $56.58, Reuters reports.
Oil companies shouldn’t compromise safety even as they slash spending to maintain their bottom lines in the face of falling oil prices, the head of the Association for Energy Service Companies told Bloomberg.
Sen. Chuck Schumer, D-N.Y., the man most likely to succeed departing Sen. Harry Reid of Nevada as Senate Democratic leader, does not have the same track record of supporting environmental causes, National Journal reports.
Despite opposition in the state to federal carbon regulations, Ohio utility regulators are urging the Legislature not to pass any laws that interfere with their ability to comply with EPA's Clean Power plan, Midwest Energy News reports.
Discussions between Iran and six world powers including the U.S. over its nuclear program were pressuring oil prices early Monday. U.S. benchmark crude was 80 cents lower to $48.07 a barrel in electronic trading on the Nymex, while in London Brent fell 40 cents to $56.01, Reuters reports.