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North Dakota

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  • U.S. House set to pass Keystone, but Senate a vote shy Friday, 14 Nov 2014 | 11:47 AM ET

    House of Representatives prepared to approve the Keystone XL pipeline on Friday, but a similar bill struggled to get enough support in the Senate and President Barack Obama indicated he might use his veto if the bill does get through Congress. "We are going to make it as easy as possible for the Senate to finally get a bill to the president's desk that approves this...

  • Gulf of Mexico, but a companion bill in the Senate may lack votes to pass next week. The Senate could take up the bill next week, possibly on Tuesday. Mary Landrieu, a Louisiana Democrat and chair of the Senate energy panel, led the effort to approve the bill in her chamber, but it appeared on Thursday that she did not yet have enough votes for passage.

  • Canadian crude imports likely to keep falling -NEB Thursday, 13 Nov 2014 | 4:44 PM ET

    Canada has the world's third-largest crude reserves behind Saudi Arabia and Venezuela, most of which are located in the oil sands in northern Alberta. The closure of Shell Canada's Montreal East refinery in Quebec, and Imperial Oil Ltd's refinery in Dartmouth, Nova Scotia, has also reduced demand for imported crude. NEB data showed that the U.S. shale boom has...

  • The legislation would circumvent the need for approval of TransCanada Corp's $8 billion project by the Obama administration, which has been pending for more than six years. The Senate could take up the bill next week, possibly on Tuesday. Energy and Natural Resources Committee Chairman Mary Landrieu, a Louisiana Democrat, led the effort to approve the bill in...

  • Letter from North Dakota: The Oil Party Rocks On Thursday, 13 Nov 2014 | 12:06 PM ET

    WILLISTON, N.D., Nov 13- Falling oil prices have spooked Wall Street and even parts of Texas. But in North Dakota's booming oil patch, the crude-fueled party carries on. "The oil price drop is a topic of discussion here," said Joel Lundeen, an owner of The Bakken Club, a $5,000 initiation fee dining establishment in Williston, the de facto capital of the state's oil boom "But...

  • In a series of rapid developments that unfolded just hours after Congress returned from a seven-week recess, there were indications the measure could pass and be sent to Obama sometime next week. Landrieu, who chairs the Senate Energy and Natural Resources Committee, is fighting for her political life as she faces a runoff race early next month that will...

  • Landrieu of Louisiana, who faces a runoff election in December against Representative Bill Cassidy to retain her seat, said on the Senate floor she was "confident" she has the votes to pass a bill on TransCanada Corp's $8 billion project. "It is easy to wonder if the Senate is only considering this because of politics. Even so, I hope the Senate and the president do the...

  • Landrieu of Louisiana, who faces a runoff election in December to retain her seat, said on the Senate floor she was "confident" she has the votes to pass a bill on TransCanada's $8 billion project. A Senate leadership aide said there was no decision yet on the timing of a potential vote on the Hoeven-Landrieu bill, which would take the decision on the pipeline out of...

  • LONDON, Nov 12- There has always been a close link between U.S. oil production, international prices and OPEC, so it should come as no surprise that North America's shale drillers find themselves locked in a battle with Saudi Arabia over prices and market share. Until the 1950 s, the United States accounted for more than half of all global oil production.

  • NEW YORK/ CALGARY, Nov 12- BNSF Railroad, the Warren Buffett-owned firm that has benefited most from the North Dakota shale boom, has told some customers that they can't add new oil tank-cars to its system until next year, according to two people familiar with the matter. Preventing shippers from putting more rail cars onto the network may help prevent overloading...

  • WASHINGTON, Nov 11- The U.S. Senate may hold a vote on a bill to approve the Keystone XL oil pipeline from Canada when it returns from recess, largely to boost support for Democrat Mary Landrieu's run-off election to retain her Louisiana seat. The $8 billion pipeline project would deliver heavy Canadian oil sands crude from Alberta to Nebraska and make it easier to...

  • Nov 10- Continental Resources Chief Executive Officer Harold Hamm has been ordered to pay nearly $1 billion to his ex-wife in one of the largest-ever U.S. divorce judgments, according to a court filing on Monday. Although the award could make Sue Ann Hamm, 58, one of the 100 wealthiest women in the United States, according to Forbes' rankings, it is far smaller than...

  • NEW YORK, Nov 7- As the prospect of a global glut of oil sends shares of once-booming U.S. energy companies lower, some fund managers see value in pipeline and refinery companies, whose fortunes are tied more to the volume of oil than to its price. "They're like toll roads," said ClearBridge Investments' Chris Eades, who oversees about $8 billion in energy strategies at...

  • SEOUL, Nov 7- U.S. crude futures extended losses to around $77.85 in early Asian trades on Friday, pressured by oil supply gluts and a stronger dollar, and bringing the week's slide to more than three percent. *U.S. crude fell 7 cents at $77.84 a barrel as of 0010 GMT, after it finished down 77 cents at $77.91 on the previous session. *The euro plunged to its lowest in more...

  • At the close, Brent's front-month was down 9 cents at $82.86 a barrel, compared to its 90 cent- fall earlier in the day. On Thursday, oil prices came under renewed pressure after OPEC's insistence that it was "not panicking" over the near 30 percent fall in Brent's value since June. Traders took that to mean there will be no output cuts at OPEC's Nov. 27 meeting.

  • NEW YORK, Nov 6- Oil markets fell back on Thursday after a one-day spike as worries about high supplies returned to haunt traders, while the dollar pressed on with its rally which weighed on commodities priced in the currency. Benchmark Brent was down 60 cents, or 0.7 percent, at $82.35 a barrel by 11:20 a.m. EST. U.S. crude was off $1.05, or 1.3 percent, at $77.63, after...

  • *Potential for Iran deal weighs on prices. LONDON, Nov 6- Brent crude oil fell towards $82 a barrel on Thursday as apparent momentum towards a deal between Iran and world powers over its nuclear programme and a strong U.S. dollar overwhelmed supply shocks in the Middle East. Secretary of State John Kerry said on Wednesday that a deal between Iran and six world powers...

  • LONDON, Nov 6- Brent crude oil fell below $83 a barrel on Thursday as apparent momentum towards a deal between Iran and world powers over its nuclear programme and higher U.S. inventories overwhelmed supply shocks in the Middle East. Secretary of State John Kerry said on Wednesday that a deal between Iran and six world powers would be harder to achieve after a Nov....

  • Nov 6- Continental Resources, the pioneering U.S. driller that bet big on North Dakota's Bakken shale patch when its rivals were looking abroad, is once again flying in the face of convention: cashing out some $4 billion worth of hedges in a huge gamble that oil prices will rebound. Late on Tuesday, the company run by Harold Hamm, the Oklahoma wildcatter who once sued...

  • WASHINGTON, Nov 5- Senate Republicans will charge ahead early in 2015 with a bill to approve the long-stalled Keystone XL oil pipeline from Canada, a move that would back President Barack Obama into a corner and set the tone for how the party taking control of Congress will govern the next two years. The $8 billion project would deliver heavy Canadian oil sands...