Lifting the 1970s ban on crude exports would go a long way to reducing energy prices and increasing jobs in the U.S., the CEO of Hess tells CNBC.» Read More
WASHINGTON, Sept 12- The United States hit Russia's largest bank, a major arms maker and arctic, deepwater and shale exploration by its biggest oil companies with new sanctions on Friday to punish Moscow for its intervention in Ukraine. They are the latest economic penalties imposed by the West since Russia annexed Crimea from Ukraine in March.
HOUSTON— Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. increased by six this week to 1,931.. Of the major oil- and gas-producing states, Alaska gained three rigs; Kansas, New Mexico and North Dakota each increased by two; and Colorado, Ohio and Pennsylvania were up one apiece.
WILLISTON, N.D.— The latest figures available show North Dakota's daily oil production reached more than 1.1 million barrels in July, a record high, state regulators announced Friday. The North Dakota Industrial Commission said the state's more than 11,000 wells produced 1,110,642 barrels of oil per day in July.
SEATTLE— Environmental groups sued the U.S. Department of Transportation on Thursday over the shipment of volatile crude oil in older railroad tank cars. That petition sought an emergency order to prohibit crude oil from the Bakken region of North Dakota and Montana and elsewhere from being carried in older tank cars, known as DOT-111s.
DES MOINES, Iowa— The nation's corn and soybean farmers will bring in by far the largest harvest ever this year, the U.S. Department of Agriculture said Thursday in a new report. Record yields will be set in 18 states, the USDA said, and 10 states including Illinois, Iowa, and Nebraska, the top three producers, have the highest number of ears per corn stalk ever.
WASHINGTON, Sept 11- U.S. corn and soybean production in 2014, already pegged at record highs, will be higher than expected a month ago and somewhat above trade expectations, the U.S. government said on Thursday, triggering a swift drop in Chicago grain markets.
WILLISTON, N.D.— The oil boomtown of Williston has approved the largest budget in the city's history, fivefold what it was four years earlier. And in 2000, before the booming oil industry transformed Williston from a provincial farm town into the fastest-growing area in the country, the budget was only $20 million according to The Williston Herald.
The South Dakota Department of Transportation said Tuesday it has received $12 million in federal funding, which completes the estimated $28 million budget for the project.
Shipping rates are 90 percent higher than they were in 2002, but service has drastically diminished, said Calvin Dooley, president of the American Chemistry Council.
HOUSTON, Sept 10- Alon USA Energy intends to restart its refinery in Bakersfield, California in 2016 after a string of upgrades to enable it to process light inland U.S. crude that will arrive via a new oil-by-rail facility, Chief Executive Paul Eisman told Reuters on Wednesday.
DALLAS— For passengers traveling between smaller cities and large hub airports, the ticket may say Delta, American or United, but they're likely flying on a regional airline whose planes are painted in the major carrier's colors.
HOUSTON, Sept 9- The first substantial oil-by-rail project at a California refinery won approval on Tuesday despite a last-minute push for more scrutiny by some environmental groups.
The U.S. energy renaissance's effects are being felt broadly, said the industry's main trade group.
NEW YORK— Exporting more U.S. crude around the world would lower the price of gasoline for U.S. drivers and benefit the U.S. economy, according to a new study released Tuesday. This latest study, released Tuesday, was conducted for the Brookings Institution by NERA Economic Consulting.
WASHINGTON, Sept 9- U.S. studies of oil train dangers may have underestimated the perils of volatile vapor on the tracks and officials will in future use precision instruments for more thorough tests, a Transportation Department official said on Tuesday.
WASHINGTON, Sept 9- U.S. studies of oil train dangers may have underestimated the perils of volatile vapor on the tracks and officials will use precision instruments for more thorough tests in the future, a Transportation Department official said on Tuesday.
SAYS WILL IMPROVE TESTING OF OIL TRAIN CARGO FROM NORTH DAKOTA'S BAKKEN REGION- TRANSPORTATION DEPARTMENT OFFICIAL.
WEST FARGO, N.D.— Titan Machinery Inc. on Tuesday reported a fiscal second-quarter loss of $603,000. Titan Machinery lowered its full-year guidance, and now expects to earn between 30 cents and 60 cents per share, with revenue in the range of $1.9 billion to $2.1 billion. Titan Machinery stock fell 40 cents, or 3.1 percent, to $12.76 in midday trading.
FARGO, N.D.— Producers in the northern and central parts of North Dakota say persistent rainfall has hampered the harvest of small grains. The weekly crop report from the U.S. Agriculture Department shows that harvest for durum, spring wheat, barley, oats and canola all lagged behind both last year's pace and the five-year average.
The national Surface Transportation Board held a hearing last week in Fargo, North Dakota, because farmers and some politicians have said increased crude oil and freight shipments from the state's western oil fields are largely the cause of shipping delays across the region that have led to grain to pile up.