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Oil & Gas

Oil Continues to Plummet

According to CNN Money, oil prices sank more than $10 a barrel in the last week. Just two weeks ago oil flirted with $100 a barrel. Most major forecasting agencies,
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Exxon Plans to Drill 42 Feet to Replace Pipeline

Montana officials say Exxon Mobil Corp. has applied for a temporary construction license to build a replacement for the pipeline that broke under the Yellowstone River, according to the Associated
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Plans in Works for 4,200 New Gas Wells in Wyoming

According to the Associated Press, three companies expect within weeks to submit a plan to vastly increase the number of gas wells in central Wyoming and develop what could become
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Montana Government Council to Look at Pipeline Failure Risk

An oil pipeline safety council created by Montana Gov. Brian Schweitzer after a major Exxon Mobil Corp. pipeline spill into the Yellowstone River will hold its first meeting in Helena
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Exxon Second Quarter Earnings Rise 41 Percent

Exxon Mobil Corp. said that higher oil prices and improved refining margins boosted its second-quarter profits 41 percent, according to the Associated Press. The largest publicly traded oil company reported
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Saudi Arabia’s Petrochemicals Shipments Decline

Saudi Arabia, the world’s largest crude exporter, posted a 3.4 percent drop in petrochemicals shipments in May, Bloomberg reported. Companies including Saudi Basic Industries Corp. (SABIC) exported 2.59 million metric
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Dow Testifies Before U.S. Senate on the Future of Natural Gas and U.S. Manufacturing

According to Business Wire, Dow Chemical Company’s George Biltz, corporate vice president and vice president of energy and climate change, testified before the U.S. Senate Committee on Energy and
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Judge Denies BP request for White House Oil Emails

According to the Associated Press, a federal magistrate has refused to order the White House to provide BP with emails by President Barack Obama''s former adviser on energy and
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FX Energy to Plug Wells at Site of Northwest Montana Spill

According to the Associated Press, FX Energy Inc. plans to permanently shut down two oil wells in northwestern Montana where a spill went unreported for a month and spread nearly
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Chevron to Pay $900,000 Fine Levied by Maine DEP

According to the Associated Press, Chevron Corp. will pay a $900,000 fine to the state of Maine to settle claims that an estimated 140,000 gallons of oil leaked from an
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