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North Dakota

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  • WILLISTON, N.D., May 7- Crude oil aboard a BNSF train that derailed in North Dakota on Wednesday caught fire even though it was less flammable than required by a state law that took effect last month. The oil, transported in tank cars owned by Hess Corp, had a vapor pressure of 10.83 psi, according to test results. They were tested on May 6, the day of the accident, by Intertek,...

  • WILLISTON, N.D., May 7- The crude oil aboard a BNSF train that derailed in central North Dakota on Wednesday caught fire even though it was less flammable than required by a new state law that took effect last month. The oil, which was being transported in tank cars owned by Hess Corp, had a vapor pressure of 10.83 psi, according to test results. They were tested on May 6, the...

  • WILLISTON, N.D., May 7- The crude oil aboard a BNSF train that derailed in central North Dakota on Wednesday caught fire even though it was less flammable than required by a new state law that took effect last month, a government source familiar with the matter said. The oil, which was being transported in tankcars owned by Hess Corp, had a vapor pressure of 10.8 PSI,...

  • NEW YORK, May 7- Americans hit the road in record numbers this winter, reigniting a long debate that may determine whether global oil markets hold steady or tumble anew. The over 40 percent slide in nationwide gas prices last year to nearly $2 a gallon led to more frequent and longer drives, fueling a 5 percent jump in gas use in December and January, the fastest such...

  • WILLISTON, N.D., May 6- A BNSF train that derailed in central North Dakota on Wednesday was carrying railcars owned by Hess Corp, 10 of which caught fire and forced the evacuation of a nearby town, the oil producer told Reuters late Wednesday. Hess, the third-largest North Dakota oil producer, said BNSF is leading cleanup efforts but added it stands ready to assist.

  • EXCLUSIVE-HESS CORP TELLS REUTERS BNSF DERAILMENT NEAR HEIMDAL, N.D., ON MAY 6 WAS CARRYING HESS-OWNED RAILCARS.

  • HESS CORP SAYS IT IS' FULLY COMPLIANT' WITH NORTH DAKOTA CRUDE TREATMENT RULES THAT WENT INTO EFFECT APRIL 1.

  • COLUMN-US refineries run hard to absorb crude glut: Kemp Wednesday, 6 May 2015 | 11:51 AM ET

    LONDON, May 6- U.S. refineries are running at near-record levels to turn the glut of crude into gasoline and other refined fuels ahead of the summer driving season. Refineries would not normally process so much crude this early in the year before the summer driving season gets underway after Memorial Day at the end of May. But cheap crude oil from North Dakota and...

  • NEW YORK, May 6- A train carrying crude oil derailed and caught fire in Wells County, North Dakota on Wednesday, officials said, just days after the U.S. government announced sweeping reforms to improve safety of the volatile shipments. Heimdal is a tiny town in central North Dakota located along one of the main rail lines heading east out of the giant Bakken oil...

  • Oil train derails in North Dakota, small town evacuated Wednesday, 6 May 2015 | 10:10 AM ET

    NEW YORK, May 6- A train carrying crude oil derailed and caught fire in Wells County, North Dakota on Wednesday, according to local media reports. Five tank cars came off the rails, and the nearby town of Heimdal has been evacuated, local media said. The local fire department said there were no injuries in the accident.

  • May 6- Occidental Petroleum Corp boosted its 2015 production forecast on Wednesday after reporting an adjusted quarterly profit in line with expectations as cost cuts helped balance the recent drop in oil prices. Noble Energy Inc and Concho Resources Inc also raised their production outlooks this week. Occidental posted a net loss of $218 million, or 28 cents...

  • WILLISTON, N.D., May 6- Aiming to show the human side of North Dakota's oil industry, the Smithsonian Channel's "Boomtowners" chronicles the highs and lows of transplants to one of the nation's fastest-growing economies. Instead, "Boomtowners" tells the stories of some of the thousands of people who relocate to rural North Dakota for a fresh start in the oil boom,...

  • May 5- The U.S. Securities and Exchange Commission on Tuesday sued three defendants it accused of running a fraud and Ponzi scheme in which they raised more than $62 million from investors eager to benefit from growth in the North Dakota oil industry. According to the SEC, North Dakota Developments LLC and its owners, Robert Gavin and Daniel Hogan, illegally...

  • WILLISTON, N.D., May 4- Oil and natural gas producer EOG Resources Inc plans to begin fracking hundreds of wells in North Dakota and Texas later this year if oil prices stabilize around $65 per barrel, executives said on Monday after reporting a better-than-expected adjusted profit. Whiting Petroleum Corp said last week it would add drilling rigs to its...

  • SAN FRANCISCO, May 4- The U.S. Environmental Protection Agency has cited Plains All American Pipeline LP's Bakersfield crude by rail terminal with a series of violations, according to a notice made public on Monday. The EPA notice does not, however, bring operations at the facility to a halt, noted Elizabeth Forsyth, an attorney with environmental group...

  • WILLISTON, N.D., May 4- Oil and natural gas producer EOG Resources Inc posted a better-than-expected adjusted profit on Monday as hedges and cost cuts helped offset low oil prices. It was the continuation of a theme for U.S. shale oil producers, including Whiting Petroleum Corp and Hess Corp, who have aggressively curtailed spending and relied in varying degrees...

  • May 4- Famed oil trader Andy Hall said the meteoric rise in U.S. oil production has ended, easing a global glut and driving a rebound in crude prices, Bloomberg reported. Oil production from Texas to North Dakota peaked at about 10 million barrels a day in February and has been falling since then, Bloomberg reported, citing Hall's letter to investors of his...

  • OMAHA, Neb., May 1- The sign for the Nebraska Furniture Mart on Dodge Road in Omaha contains a cartoon of Warren Buffett and a big number "50," a number looming large for Berkshire Hathaway Inc shareholders this weekend as they celebrate the investing legend's half a century running the conglomerate. SELECTED COMPANIES OWNED BY BERKSHIRE Benjamin Moore, Berkshire...

  • COLUMN-Forward oil prices anchor around $75: Kemp Friday, 1 May 2015 | 10:46 AM ET

    LONDON, May 1- Market participants expect the price of Brent to average around $75 per barrel through the rest of the decade, not much above the current level. Spot Brent prices have risen around $20 per barrel from their mid-January low, from $46 to $66, an increase of more than 40 percent. Over the same period, however, futures prices for oil delivered at the end of 2017...

  • RPT-U.S., Canada ready oil train safety measures Friday, 1 May 2015 | 7:00 AM ET

    WASHINGTON, May 1- Canada's transport minister will be in Washington on Friday for a joint announcement with her U.S. counterpart aimed at harmonizing safety regulations on shipping crude oil by rail, a politically sensitive issue on both sides of the border. Transportation Secretary Anthony Foxx are expected to demand that railroad companies equip cars...