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Tag Archives: Oil

Low prices, virus cited in calls to delay US oil lease sale

NEW ORLEANS — Low prices and concerns about the new coronavirus should postpone a Gulf of Mexico oil lease sale planned for Wednesday, environmental groups said Tuesday. “As prices collapse, it’s insane to move forward with this bargain basement sell-off of our public resources,” Raleigh Hoke, campaign director for the New Orleans-based coalition Healthy Gulf, said in a news release. ...

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Oil price keeps rising as industry eyes Iran-US conflict

The global benchmark for crude oil rose above $70 a barrel on Monday for the first time in over three months, with jitters rising over the escalating military tensions between Iran and the United States. The Brent contract for oil touched a high of $70.74 a barrel, the highest since mid-September, when it briefly spiked over an attack on Saudi ...

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Stocks slip as surge in oil brings fresh economic worries

Stocks fell broadly on Wall Street in afternoon trading Monday after an attack on Saudi Arabia’s biggest oil processing facility sent crude prices soaring. The attack, which Yemeni rebels said they were behind, raised worries about the risk of more disruptions for oil at a time when the global economy’s strength is already seen as shaky. President Donald Trump warned ...

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US proposing easing rules on climate-changing oil emissions

Oil and gas companies could face far looser oversight of emissions of potent climate-changing methane gas under a proposal expected from the Trump administration as soon as Thursday, oil industry and environmental groups said. The government’s plan would ease requirements on oil and gas sites to monitor for methane leaks and plug them. The Environmental Protection Agency’s move would be ...

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Judge rules lawsuit over oilfield waste can proceed

A Mississippi judge says a lawsuit over oilfield waste can move forward. Jones County Circuit Court Judge Dal Williamson ruled Monday that Tae and Diedra Baucum can sue a number of companies including Petro Harvester Oil & Gas. WDAM-TV reports the Baucums allege waste buried nearby has leached into the Baucum property and contaminated it. Monday’s ruling allows the family ...

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BP approves expansion of Gulf oil project

BP has approved a $1.3 billion expansion at one of its oil projects in the Gulf of Mexico and discovered an additional 1.4 billion barrels at two of them. “BP’s Gulf of Mexico business is key to our strategy of growing production of advantaged high-margin oil. We are building on our world-class position, upgrading the resources at our fields through ...

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DeepWell buys Boots Smith Oilfield Services

By JACK WEATHERLY DeepWell Energy Services of Columbia has announced acquisition of Boots Smith Oilfield Services LLC of Laurel. The acquisition will make DeepWell the largest provider of transportation, rig moving and site preparation in the United States, it said in a release. The combination of the two companies will increase the DeepWell work force to 1,500 with estimated 2018 ...

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US stock indexes edge higher in early trading; Oil up

U.S. stock indexes edged higher in morning trading Tuesday, recovering after an early slide. Investors weighed the latest batch of company earnings and economic news. Banks and other financials stocks led the gainers, while phone company stocks were down the most. Energy stocks rose as oil prices were headed higher. KEEPING SCORE: The Dow Jones industrial average rose 38 points, ...

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