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Oil & Gas

Fracking companies in California ordered to report offshore chemical discharges

January 13, 2014
The new regulation will apply only to new drilling activities on about 20 platforms situated in federal waters close to the Santa Barbara coast.
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Global crude oil demand to increase in 2014

January 10, 2014
This rise in consumption is attributed to demand from countries outside of the Organization for Economic Cooperation and Development, led by China.
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US crude oil export ban should be lifted, Chamber of Commerce says

January 10, 2014
The pressure on the federal government to lift the ban on U.S. crude oil exports is building, after the U.S. Chamber of Commerce joined the long list of industry groups, trade bodies and organizations that are demanding an end to the restriction.
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North Dakota train accident will not affect rail movements of crude, analysts say

January 8, 2014
While the North Dakota incident might lead to increased regulatory scrutiny, experts believe that it will not significantly affect the use of rail as a means of transporting oil.
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Fracking-related water contamination confirmed in several states

January 8, 2014
At least three states -- Pennsylvania, Ohio and West Virginia -- have confirmed water pollution in response to complaints related to hydraulic fracturing operations.
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BP completes Whiting refinery modernization with new coker unit

January 7, 2014
BP has completed the upgrade of its Whiting facility in Indiana with the commissioning of a new coker that will process more Canadian oil sands crude and generate an extra $1 billion of operating cash flow per year.
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API: US oil, gas industry invested $153 billion in drilling in 2012

January 6, 2014
U.S. oil and gas companies invested about $153.7 billion in drilling operations in 2012, working on an estimated 46,736 wells, according to the latest Joint Association Survey on Drilling Costs.
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US demand for refined petroleum products goes up in November

December 30, 2013
Demand for petroleum products in the United States increased by 4.9 percent in November compared to the same month in 2012, reaching an average of 19.4 million barrels per day.
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Colombia's Ecopetrol to invest $10.6 billion in 2014

December 30, 2013
The investment will be used to add more crude oil reserves to the company's portfolio and to fund the drilling of 20 new exploratory wells, most of which will be located onshore.
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Middle East to dominate new natural gas-processing capacity through 2017

December 30, 2013
The Middle East is set to outpace Europe and Africa in adding new capacity provided that Iran's industry is not stifled by international sanctions.
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