Sept 18- Oil and gas producer Range Resources has been fined more than $4 million for environmental violations in Pennsylvania, state environmental authorities said on Thursday, the largest fine leveled against a shale gas operator in the state.» Read More
As the summer doldrums set in for oil and equities, at least one sector has become a sleeper hit — refinery stocks.
China’s $15.1 billion bid to acquire Canada’s Nexen oil company threatens to turn China into an owner rather just a major buyer of Canadian oil, and prompts a surge in nationalist rhetoric that is attempting, misguidedly, to bring up the question of sovereignty.
The cost of generating electricity by wind and solar is falling rapidly, ,and however hard Big Oil and Big Gas try to suppress government funding and tax breaks for renewables, they are doomed to lose, and in only about 4 years.
Oil prices staged a sharp turnaround ahead of the close in floor trading at the NYMEX Wednesday, as traders speculated about the prospects for more Fed easing.
West Texas Intermediate (WTI) oil futures fell to the lowest price in more than a week, sliding more than $1 to below $88 a barrel, and RBOB gasoline futures plunged more than two percent to a two-week low, trading below $2.75 a gallon, after the U.S. Energy Information Administration reported a huge increase in domestic oil and gasoline supplies over the past week.
Nationwide Mutual has become the first insurance company to decline coverage for claims related to hydraulic fracturing, a controversial energy production known as “fracking.”
Argentina is making few friends in the fossil fuels industry these days. Sam Logan, owner of Southern Pulse, speaks to Oilprice.com about the politics of populism behind Argentina’s energy aggression.
The memory of its failed 2005 bid for Unocal still fresh, China's state-controlled CNOOC Ltd. has put lessons learned into practice and "networked strongly" with regulators in Canada and the U.S., smoothing the way for its $15.1 billion all-cash deal to buy Canadian oil producer Nexen Inc.
The prospect of military conflict over Iran's nuclear program, on one hand, versus a deteriorating global economic outlook, on the other, are divergent factors that nevertheless pushed oil prices to their highest level since May last Thursday.
Natural gas futures topped $3. per million BTUs for the third straight session on Friday, rising to an intraday high of nearly $3.06.
Royal Dutch Shell is one of six energy companies hoping to begin drilling for oil and gas in the Arctic next month, and the U.S. Coast Guard is billions of dollars short of what it needs to monitor and protect those operations, according to a report.
Some analysts suggest the slide toward a $3.00 retail gasoline may have permanently stalled. Retail gasoline prices often follow the trend in the futures market within a week or so, analysts say.
PTT Exploration and Production, the subsidiary of PTT, may be still holding out its bid for Mozambique-focused oil and gas explorer Cove Energy, but one analyst says the acquisition is a bad idea for the Thai oil company because it would hurt its balance sheet.
While tensions between Britain and Argentina have been rising as a natural response to the 30th anniversary of the Falkland Islands War, oil is the primary driver of a renewed Falkland dispute that will determine the fate of tens of billions of dollars in black gold.
No commercially exploitable oil had been discovered in Kenya until Tullow Oil began drilling this year in the blazing savanna of the Rift Valley, about 250 miles northwest of Nairobi, the New York Times reports.
Precision drilling, better technology and the exploitation of unconventional energy sources can make American energy independence achievable, Harold Hamm, Continental Resources CEO, told CNBC’s “Squawk Box” on Tuesday.
Of all the major oil-producing countries in the world, only four are showing a long-term decline in production capacity by 2020. Factors like the recent showdown with Iran over its nuclear program are more influential, according to a Harvard University report.
Four and a half years of studies and five failed votes in the House of Representatives later, the massive Canadian-US pipeline is stuck at the Canadian border. And that won't change anytime soon.
Bears have been running the show at Magnum Hunter Resources, but yesterday the buying heated up.
The DOE's Energy Information Administration expects the cartel's share to remain at the current 40 percent, while US domestic output rises.