The chairman of Libya’s National Oil Co., Mustafa Sanallah, has told The Wall Street Journal that the company continues to operate independently and transparently despite the ongoing conflict in the country.
Data compiled by Genscap shows Gulf Coast storage hubs would have been filled to capacity this year if it weren’t for the nearly 19 million barrels of crude shipped to Canada, The Wall Street Journal reports.
The impact of oil producers pulling some 940 rigs since October is starting to be felt in U.S. shale production, with the Energy Information Administration predicting shale output will drop 1.5 percent to 5.56 million barrels a day in June, FuelFix reports.
The Republican chair of the Senate Energy and Natural Resources Committee is prepared to charge forward on a broad energy reform package, while separately launching an effort to end the 40-year-old ban on crude oil exports.
Speaking at a briefing with reporters Thursday, Sen. Lisa Murkowski, R-Alaska, said her bill to end the export ban, a policy she has decried as “domestic sanctions” on U.S. oil producers, would be introduced on Tuesday.
Portfolio managers and analysts are advising investors to avoid putting stake in Alberta's oil sands and coal following the victory of the New Democratic Party that campaigned to cut coal power, raise corporate taxes and reconsider energy royalties, Bloomberg reports.
Hoping to have have an "interaction with the market," Indonesia's Minister of Energy and Mineral Resources Sudirman Said said the country is weighing rejoining OPEC as an observer nation after leaving the cartel in 2009, The Wall Street Journal reports.
A top Energy Department official says the nation's emergency supply of crude oil needs reforms and new investment, and there are "points of agreement" inside Congress to make necessary changes once his agency completes a review of the system.
Speaking at the Center for Strategic and International Studies on Wednesday, DOE Assistant Secretary for Fossil Energy Christopher Smith said much has changed since the Strategic Petroleum Reserve was created in 1975, and there’s necessary action to keep it viable amid surging U.S. energy production.
NEW YORK (AP) — U.S. stocks fell across industries on Wednesday as investors worried over stock valuations, economic growth and rising interest rates.
The price of oil rose on an unexpected drop in crude oil supplies in the U.S. Benchmark U.S. crude rose 53 cents to close at $60.93 a barrel in New York after having reached as high as $62.58 during the day.
The lone Democrat backing a House Republican effort to lift the 40-year-old export ban on crude oil said he is confident that the legislation will gather more bipartisan momentum as it moves closer to a vote.
Rep. Henry Cuellar, D-Texas, signed onto Rep Joe Barton’s bill to end the long-standing Commerce Department policy last week, and said at a press conference Thursday that he’s working to court other Democrats to support the legislation.
Plants would no longer be exempt from air pollution regulations when they’re starting up, shutting down or malfunctioning, under a new regulation from the Environmental Protection Agency, The Hill reports.
A series of major energy and environmental regulations will be published by federal agencies between June and August, including the Environmental Protection Agency’s rules limiting power plant carbon emissions, the Interior Department’s rule protecting streams from mountaintop removal coal mining, and the Obama administration strategy for cutting methane emissions, The Hill reports.
A group of senators - 17 Democrats and Independent Bernie Sanders - has written to Interior Secretary Sally Jewell, asking her to stop Royal Dutch Shell or anyone else from drilling in the Arctic, Reuters reports.
The reaction in Washington to this week’s oil spill off the coast of Santa Barbara has been muted, National Journal reports, despite wishes expressed by environmentalists that the incident generate backing for policies moving the country away from fossil fuels.
A website set up by Sens. James Lankford, R-Okla., and Heidi Heitkamp, D-N.D., to collect grievances about federal regulation and bureaucracy has received complaints about a wide variety of the Environmental Protection Agency’s pending regulations, E&E reports.
Mississippi electric power cooperatives are backing away from a deal in which they would take 15 percent ownership of the Kemper County coal plant that will use carbon capture technology, because they said the power it generates would end up being too expensive, E&E reports.
A stronger dollar combined with the drop of only 1 oil rig in Baker Hughes’ weekly count sent crude prices sliding Friday. Benchmark West Texas Intermediate crude lost 1.6 percent, or $1, to settle at $59.72 a barrel on the Nymex, while in London, Brent was $1.17 , or 1.8 percent, lower, at $65.37, The Wall Street Journal reports.
Standard & Poor’s thinks oil companies that have managed to survive the slide in crude prices by borrowing more money may start running into trouble in the coming months, particularly if the price stays in the $50 range, FuelFix reports.
A new analysis concludes that wells in Mountrail and McKenzie counties in North Dakota’s Bakken Shale are productive enough to remain profitable even with oil prices around $60 a barrel, FuelFix reports.
With oil prices dramatically lower than a year ago, AAA predicts that more than 37 million people will travel more than 50 miles over the Memorial Day weekend - the most since 2005, The New York Times reports.