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Oil & Gas

Exxon Plans to Drill 42 Feet to Replace Pipeline

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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

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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

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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

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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

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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

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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

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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

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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

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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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ConocoPhillips to Split in Two

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According to Bloomberg, ConocoPhillips will spin off its refining and marketing arm into a new business, two weeks after Marathon Oil Corp. split itself up to increase returns for investors.
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