The ink has barely dried on the record-breaking $4 billion check BP wrote to settle criminal charges stemming from its Gulf of Mexico oil spill disaster before the energy giant is again confronted with a protracted court battle that could cost it billions more.
WASHINGTON – Total U.S. petroleum deliveries (a measure of demand) were down 2.0 percent for 2012 compared with 2011 – and were at the lowest annual level in 16 years. They also were down 2.1 percent in December against a year ago. Year over year declines were seen in all months in 2012 except for May.
BY SEAN COCKERHAM and
BY SEAN COCKERHAM
WASHINGTON – Oil well drilling trends continue to rise in the fourth quarter of 2012 with exploratory and development wells showing a 15 percent and 16 percent increase from 2011's fourth quarter figures, respectively, according to API's 2012 Quarterly Well Completion Report: Fourth Quarter.
BY SEAN COCKERHAM
WASHINGTON – American Petroleum Institute Senior Economic Advisory Rayola Dougher said that Energy Outlook released today by EIA adds to the growing chorus that predicts increased domestic energy production could make America a global energy giant in just a few short years:
WASHINGTON, – American Petroleum Institute Group Director of Upstream and Industry Operations Erik Milito welcomed the latest Department of Energy study finding that exports of liquefied natural gas (LNG) would benefit the U.S. economy:
HOUSTON – A Texas judge has temporarily stopped oil company TransCanada from building a pipeline designed to carry tar sands oil from Canada through eastern portions of the state to the Gulf Coast.
WASHINGTON – American Petroleum Institute President and CEO Jack Gerard today released a new report by IHS Global Insight showing the oil and natural gas industry is in a strong position to expand its workforce with minority employees.
On one stage of the Los Angeles Auto Show, BMW shows off "the cars of tomorrow," concepts powered by electricity. On another, Audi touts four new diesels. Ford, meanwhile, displays a tiny gasoline motor with an unprecedented mix of power and economy.
WASHINGTON – Now that Hurricane Isaac has passed, a political storm is brewing in Congress over a new effort by coastal lawmakers to secure a larger share of federal royalties from energy production off their shores to fund projects such as flood protection.
SEATTLE – A potential new energy frontier opened early Sunday in the U.S. Arctic as Royal Dutch Shell plumbed a drill bit into the bed of the Chukchi Sea, 70 miles off the coast of northwest Alaska.
WASHINGTON – To continue selling crude oil to India, Iran is accepting payment in rice, medicine, engineering supplies and steel.
LAKEWOOD, Colo. – Colorado has long been an epicenter of the energy industry, with oil and gas harvested in its western slope, hydraulic fracturing in the northeast and wind farms producing energy on its eastern plains.
Keeping track of billions of dollars of equipment that's constantly on the move is one of the oil and gas industry's toughest challenges.
MEXICO CITY– President Enrique Pena Nieto on Monday signed into law Mexico's landmark energy reform legislation and announced that his government could name as early as this week the first oil and gas fields that will be opened up to foreign investors.
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