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North Dakota

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  • NEW YORK, March 10- The U.S. Energy Information Administration revised upward its 2015 domestic oil production outlook, but lowered its 2016 forecast because it expects the slump in global prices to weigh on the country's shale boom next year. An EIA spokesman said the revision is due to an increase in baseline expectations for the fourth quarter and to...

  • March 8- Firefighters on Sunday were still working to extinguish the last of a series of fires that erupted when a BNSF Railway train loaded with crude oil derailed two days ago in a rural area south of Galena, Illinois, a local official said. Nobody was injured in the fiery Thursday wreck, in which 21 cars of a 105- car BNSF train that originated in North Dakota...

  • March 7- Firefighters were still working on Saturday to extinguish several blazes that erupted when a BNSF Railway train loaded with crude oil derailed two days ago in a rural area of northwestern Illinois, a local official said. Nobody was injured in Thursday's fiery wreck, in which 21 cars of a 105- car train that originated in North Dakota derailed on the...

  • March 7- Firefighters on Saturday were still working to extinguish several blazes that erupted when a BNSF Railway train loaded with crude oil derailed two days ago in a rural area south of Galena, Illinois, a local official said. Nobody was injured in the fiery Thursday wreck, in which 21 cars of a 105- car BNSF train that originated in North Dakota derailed about 3...

  • WILLISTON, N.D., March 6- Whiting Petroleum Corp, North Dakota's largest oil producer, is seeking a possible buyer, according to the Wall Street Journal, but a person familiar with the board's thinking told Reuters he was not aware of any such plan. Three months ago, Whiting closed on its $1.55 billion buyout of Kodiak Oil& Gas to become the largest oil company in North...

  • *103 tanks with crude oil derailed in Illinois. *U.S., Canada rail operators under pressure to improve safety. The incident is the latest in a series of derailments in North America and the third in three weeks involving trains hauling crude oil, which has heightened the focus on rail safety.

  • WASHINGTON, March 5- The Obama administration weighed national standards to control explosive gas in oil trains last year but rejected the move, deciding instead to leave new rules to North Dakota alone. The administration's internal debate shows that concern about the risks associated with oil trains reached the upper level of the White House.

  • NEW YORK, March 4- The United States produced a record 25.7 trillion cubic feet of natural gas in 2014 according to preliminary estimates published by the Energy Information Administration on Feb 27. Gas production has risen 27 percent since 2008 even though the number of rigs employed drilling for gas has declined by more than 80 percent over the same period.

  • LONDON, Feb 27- U.S. refineries are processing record quantities of heavy crude from Canada as the perfect complement to light oils from North Dakota and Texas as they struggle to keep their average blend steady. Bakken and Eagle Ford are light, sweet oils, while Saudi Arabia's Arab Heavy and Alberta's Western Canadian Select are much heavier and sourer.

  • *China's implied oil demand set to grow 3 percent this year. *Statoil shuts Statfjord C platform in North Sea. At 0955 GMT, Brent crude futures were up $1.50 at $61.54 a barrel, while U.S. crude was up $1.23 at $49.40 a barrel.

  • *Statoil shuts Statfjord C platform in North Sea. SINGAPORE, Feb 27- Crude oil futures rebounded on Friday, with Brent heading for its biggest monthly gain since May 2009, as supply outages in the North Sea and renewed fears of gas supply disruption in Europe supported prices. Norwegian energy firm Statoil has shut its Statfjord C platform in the North Sea after...

  • Brent approaches $61, set to end 7-month losing streak Thursday, 26 Feb 2015 | 9:24 PM ET

    *Statoil shuts Statfjord C platform in North Sea. SINGAPORE, Feb 27- Crude oil futures rebounded on Friday, with Brent heading for its biggest monthly gain since May 2009, as supply outages in North Sea and renewed fears of gas supply disruption in Europe supported prices. Norwegian energy firm Statoil has shut its Statfjord C platform in the North Sea after...

  • WILLISTON, N.D., Feb 25- Senator Heidi Heitkamp of North Dakota will re-introduce legislation on Thursday designed to encourage the development of clean coal technologies that could keep the fuel a key source of American power generation. The bill, which is likely to be popular in the Republican-controlled U.S. Senate but face opposition from the White House,...

  • ADM cuts biodiesel output as industry hit by weak margins Wednesday, 25 Feb 2015 | 1:23 PM ET

    WINNIPEG/ NEW YORK, Feb 25- Archer Daniels Midland, one of the world's top biofuels producers, has slowed North American biodiesel output, the latest sign the industry is battling uncertainty over U.S. renewable fuel policy while the oil rout curbs demand. The Chicago- based agri business has "temporarily" shifted production at its Velva, North Dakota, oilseeds...

  • COLUMN-Bakken oil drillers retreat to the core: Kemp Wednesday, 25 Feb 2015 | 11:15 AM ET

    LONDON, Feb 25- North Dakota's oil producers have pulled back to the core areas of the Bakken formation to cut costs and maximise output amid the slump in prices. The number of active rigs in the state has fallen to just 121, from 190 a year ago, according to an active rig list published by the state's Department of Mineral Resources on Wednesday.

  • Sen. Heitkamp, getting Yellen's point of view   Wednesday, 25 Feb 2015 | 8:34 AM ET
    Sen. Heitkamp, getting Yellen's point of view

    Sen. Heidi Heitkamp, (D-N.D.), shares her thoughts on Janet Yellen's testimony on Fed monetary policy

  • Sen. Heitkamp: No factual basis to deny Keystone permit

    Sen. Heidi Heitkamp, (D-N.D.), shares her thoughts on President Obama's veto of the Keystone pipeline. The whole issue is purely political, says Heitkamp.

  • WILLISTON, N.D., Feb 24- Continental Resources Inc posted a fourth-quarter profit well above Wall Street's expectations on Tuesday, as a one-time gain from the sale of crude hedges helped offset tumbling oil prices. Continental reported net income of $114 million, or 31 cents per share, compared with $132.8 million, or 36 cents per share, in the year-ago period.

  • NEW YORK, Feb 24- A CSX Corp rail line in West Virginia remained shut following an explosive oil train derailment on Feb. 16 that damaged the roadbed and tracks, though the type of work required to return the line to service could be completed "in days," a CSX spokeswoman said Tuesday. CSX has rerouted trains carrying oil on the line that runs from North Dakota to an oil...

  • NEW YORK, Feb 23- A cleanup was continuing in the Kanawha River in West Virginia on Sunday after an oil spill last week following the derailment of a CSX Corp train, though drinking water was not affected, the company and federal officials said. Twenty seven of the train's 109 cars carrying 3.1 million gallons of crude oil from North Dakota to Virginia came off the...