MINNEAPOLIS - Minnesota regulators are getting ready to open a series of 22 public meetings on an oil pipeline project that opponents have dubbed the next Dakota Access pipeline struggle. Enbridge Energy is seeking approval to replace its aging Line 3 pipeline across northern Minnesota. The meetings along the proposed route are meant to give the public a chance to comment on the draft environmental review for the project, which was released last month. The first two meetings are [Read more]
Russian oil CEO: US oil output likely to offset OPEC cut
ST.PETERSBURG, Russia - The head of Russia's state-controlled Rosneft oil giant says that that a rise in shale oil output in the U.S. would likely offset the effect from OPEC production cuts. Speaking Friday at an economic forum in St.Petersburg, Rosneft CEO Igor Sechin said thanks to increasing efficiency U.S. shale oil producers would likely deliver an additional 1.5 million barrels of crude a day to the market in 2018. OPEC and 10 other countries led by Russia agreed last week [Read more]
Trump says U.S. will withdraw from climate accord, renegotiate a deal
WASHINGTON - President Trump says U.S. will withdraw from climate accord, renegotiate a deal This is a breaking news update. Check back later for more. President Donald Trump announced Thursday that the U.S. will withdraw from the Paris global climate pact, according to a White House official, congressional officials and others briefed by the White House. "He's pulling out. It's official," said Stephen Moore, an economist who worked for Trump's campaign and participated in an [Read more]
$3.8 billion Dakota Access oil pipeline begins service
BISMARCK, N.D. - The $3.8 billion Dakota Access pipeline began shipping oil for customers on Thursday, as Native American tribes that opposed the project vowed to continue fighting. Dallas-based Energy Transfer Partners announced that the 1,200-mile line carrying North Dakota oil through South Dakota and Iowa to a distribution point in Illinois had begun commercial service. The Dakota Access pipeline and the Energy Transfer Crude Oil Pipeline from Illinois to the Gulf Coast together make [Read more]
Dakota Access pipeline expected to begin shipping Thursday
BISMARCK, N.D. - The developer of the Dakota Access oil pipeline, which is expected to begin shipping oil on Thursday, will face scrutiny later this summer on whether it violated North Dakota rules during construction. The three-member North Dakota Public Service Commission is looking into whether Texas-based Energy Transfer Partners removed too many trees and shrubs along the pipeline route, and whether it improperly reported the discovery of Native American artifacts. No artifacts were [Read more]
Colorado oil tank blast kills worker, spurs safety questions
DENVER - An oil tank explosion in northern Colorado killed a worker and burned three others, shooting up flames just miles away from an unrelated gas blast last month and prompting fresh questions about safety in one of Colorado's largest industries — oil and gas extraction. The fire flared Thursday when the workers completed upgrades to an oil tank battery, which is a collection of tanks that receive crude oil production from a well. Anadarko Petroleum Co. said the facility in [Read more]
US rig count rises 7 this week to 908; Colorado up 5
HOUSTON - The number of rigs exploring for oil and natural gas in the U.S. rose by seven this week to 908. A year ago, 404 rigs were active. Houston oilfield services company Baker Hughes said Friday that 722 rigs sought oil and 185 explored for natural gas this week. One was listed as miscellaneous. Colorado added five rigs while Alaska, New Mexico, North Dakota and Oklahoma each gained one. Texas lost one rig. Arkansas, California, Kansas, Louisiana, [Read more]
The Latest: OPEC, other nations extend output cut to March
VIENNA - The Latest on OPEC's talks on extending its production cut agreement (all times local): 6:10 p.m. OPEC and other oil-producing nations have extended their output cuts for an additional nine months in an effort to shore up prices. The decision, made Thursday at a high-level meeting of OPEC and non-OPEC ministers, means that the reductions of 1.8 million barrels a day agreed on in November will stay in place until March. But any uptick in prices may be [Read more]
OPEC and non-OPEC nations poised to extend output cuts
VIENNA - An alliance of many of the world's biggest oil-producing nations extended their agreement to cut output for an additional nine months, an effort to support prices that seems futile in the face of growing production from the U.S. Thursday's decision by the 14-member OPEC cartel and 10 other countries led by Russia, means that the reductions of 1.8 million barrels a day agreed on in November will stay in place until March. Saudi Oil Minister Khalid A. Al-Falih, who [Read more]
Iran, Spanish company sign $615 million deal for oil pipes
TEHRAN, Iran - Iran on Wednesday signed a deal worth $615 million — or euros 550 million — with a Spanish-Iranian consortium under which the group will provide pipes used in Iran's oil industry. It was the first major deal for Iran's oil industry since President Hassan Rouhani's re-election last week to another term in office on a platform of reform and greater openness to the international community. The consortium, which includes Spain's Tubacex S.A. and Iran's Foolad Isfahan Company, [Read more]
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