BISMARCK, N.D. - Five years and almost $100 million later, cleanup is complete on a massive oil pipeline leak in North Dakota that has been called one of the biggest onshore spills in U.S. history, industry and state officials said Wednesday. The spill by Tesoro, now known as Andeavor, was found by a Tioga farmer in September 2013. Crews had been working around the clock to clean it. Farmer Steve Jenkins had smelled the crude oil for days before discovering the spill in his wheat [Read more]
Global oil production hits a new record, led by US and OPEC
The world's supply of oil hit a record last month, yet another sign of oil's dominance over the energy landscape. The International Energy Agency said Thursday that the global oil supply reached 100 million barrels a day for the first time ever, boosted by rising production in the U.S. and several OPEC nations. Demand for oil grew more slowly in the second quarter but will continue to rise this year and in 2019, the group said. Much of the increase in production is coming from OPEC and [Read more]
US accused of planning crackdown on pipeline protests
BILLINGS, Mont. - Civil liberties advocates sued the U.S. government Tuesday, alleging law enforcement agencies have been making preparations to crack down on anticipated protests over the Keystone XL oil pipeline. Attorneys for the American Civil Liberties Union and its Montana affiliate filed the lawsuit in U.S. District Court in Missoula against the Defence, Homeland Security, Interior and Justice departments. They asked the court to order the release of all documents about [Read more]
Keystone XL company moves to condemn South Dakota land
BUFFALO, S.D. - The company planning the Keystone XL oil pipeline is moving to condemn private land in South Dakota. TransCanada Corp. has filed eminent domain petitions in state court against parcels of Harding County land owned by two families, The Rapid City Journal reported . At least one family plans to fight. Resident Jeffrey Jensen said he'll take the matter to court if necessary. "I got nothing to lose. Wouldn't bother me in the least," he said. "They (TransCanada) actually want [Read more]
Trump administration less concerned about conserving oil
WASHINGTON - Conserving oil is no longer an economic imperative for the U.S., the Trump administration declares in a major new policy statement that threatens to undermine decades of government campaigns for gas-thrifty cars and other conservation programs. The position was outlined in a memo released last month in support of the administration's proposal to relax fuel mileage standards. The government released the memo online this month without fanfare. Growth of natural gas and other [Read more]
US energy secretary: Mexico’s energy independence good goal
MEXICO CITY - U.S. Energy Secretary Rick Perry says he supports the plans of Mexican President-elect Andres Manuel Lopez Obrador to increase the country's energy independence, even if it could mean fewer purchases from U.S. refineries. The U.S. is opening new markets for its energy products daily and having Mexico develop its own energy resources will only benefit North America's economic security, Perry said. Perry spoke to reporters Wednesday in Mexico City after meeting with Lopez [Read more]
Exxon asked to pay $1.8M for Arkansas oil spill damage
LITTLE ROCK, Ark. - State and federal officials are asking Exxon Mobil to pay more than $1.8 million in compensation for a 2013 oil spill in Arkansas. The state Game and Fish Commission proposed the settlement Tuesday, The Arkansas Democrat-Gazette reported . The funds would pay for wildlife restoration and compensate the government for damage caused when the 70-year-old Pegasus pipeline ruptured in Mayflower near Lake Conway. The letter also asks the oil giant to fund the [Read more]
BP gets Q2 boost from higher oil prices; earnings quadruple
LONDON - Energy giant BP says it is increasing its dividend for the first time in almost four years after second-quarter earnings quadrupled on higher oil prices and streamlined production. Underlying replacement cost profit jumped to $2.82 billion from $684 million in the same quarter a year earlier. The figure, which excludes one-time items and fluctuations in the value of inventories, is the industry's preferred gauge of earnings. Net income soared to $2.80 billion from $144 million. [Read more]
National rig count up by 2 to 1,048; Louisiana loses 4
HOUSTON - The number of rigs exploring for oil and natural gas in the U.S. increased by two this week to 1,048. At this time a year ago there were 958 active rigs. Houston oilfield services company Baker Hughes reported Friday that 861 rigs drilled for oil this week and 186 for gas. One was listed as miscellaneous. Among major oil- and gas-producing states, Pennsylvania gained two rigs. Alaska, Kansas, New Mexico, North Dakota, Texas and West Virginia each increased by [Read more]
Exxon profit surges, just not enough
IRVING, Texas - Rising oil prices pushed second-quarter profit at Exxon Mobil Corp. up by 18 per cent, but the results Friday fell short of Wall Street expectations, and shares dropped in early trading. Exxon earned $3.95 billion in the second quarter, or 92 cents per share. Analysts were looking for $1.26 per share, according to a survey by Zacks Investment Research. Exxon does not adjust results based on one-time events such as asset sales, which totalled $307 million in the [Read more]
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