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Keyword: oil

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  • How Venezuela lost three oil supertankers to its Chinese partner

    08/12/2020 9:22:59 AM PDT · by jdsteel · 6 replies
    Reuters via Yahoo Financial ^ | August 11, 2020 | Luc Cohen and Roslan Khasawneh
    NEW YORK/SINGAPORE (Reuters) - A shipping joint venture between Venezuela and China has fallen apart in the wake of U.S. sanctions, resulting in the South American nation losing three supertankers at a time when foreign shippers are reluctant to carry its oil, court documents show.
  • Oil lobbyist hits rock with political drilling

    08/10/2020 1:21:35 PM PDT · by brownwill6767 · 5 replies
    Santa Fe New Mexican ^ | 8/9/20 | Steve Pearce
    For decades, the New Mexico Oil and Gas Association has been a leader among trade associations in our state, earning a solid reputation from both sides of the aisle for helping us understand the intricacies of the challenges and opportunities in the industry. Over the years, its advocacy has helped to deliver record-breaking revenue for New Mexico that goes directly to funding our public schools and infrastructure while at the same time achieving the right balance of regulation to protect the environment and grow our economy. However, under Executive Director Ryan Flynn, the association has devolved into a highly charged...
  • Exxon lost $1B in second quarter as oil use dries up

    07/31/2020 7:20:31 AM PDT · by deport · 27 replies
    Beaumont Enterprise ^ | 7-31-2020 | Cathy Bussewitz, Ap Business Writer
    Exxon lost $1.1 billion in the second quarter, its economic pain deepening as the pandemic kept households on lockdown, diminishing the need for oil around the world. The Irving, Texas-based oil giant brought in $32.6 billion in revenue during the second quarter, less than half of what it brought in at the same time last year. The quarter was one of the worst on record for the oil industry. The price of a barrel of benchmark U.S. crude fell below $0 in April, a stunning downfall that had not before been seen in the industry.
  • President Donald J. Trump Has Unleashed American Producers and Restored Our Energy Dominance

    07/30/2020 10:48:05 AM PDT · by ransomnote · 1 replies ^ | July 29, 2020 | White House
      LEADING AN ENERGY REVOLUTION: American energy production is soaring to new heights under President Donald J. Trump’s pro-jobs, pro-national security, and energy independence agenda. Under President Trump’s leadership, the United States has become the world’s number one producer of oil and maintained our position as the number one producer of natural gas.American energy exports reached an all-time high last year, marking the first time in 67 years that our annual gross energy exports exceeded our gross energy imports. Crude oil production hit new record highs both last year and the year before, leaping past the previous record set in...
  • Remarks by President Trump on Restoring Energy Dominance in the Permian Basin | Midland, TX

    07/30/2020 12:16:07 PM PDT · by ransomnote ^ | July 29, 2020 | President Donald J Trump
    Double Eagle Oil Rig Midland, Texas3:28 P.M. CDTTHE PRESIDENT:  Thank you.  Thank you, Cody.  Good job you did, Cody.  He was wealthier four months ago, but he’ll be up there very soon.  He’s doing good.  Come on.  Sit down, please.  Let’s have some fun.And I really am — I’m thrilled to be here in Midland, Texas, with the extraordinary men and women of Double Eagle Energy.  And what a nice welcome.  And thank you very much.  (Applause.)  There’s a lot of big, beautiful rigs behind me.Thanks to the hardworking citizens like you, the United States of America is now...
  • Is anyone watching President's Trump speech in Texas?

    07/29/2020 1:50:26 PM PDT · by proud American in Canada · 72 replies
    Fox News | July 29, 2020 | myself
    Hi, I'm watching President Trump speaking to oil and gas workers in Texas. He looks great; he acknowledged a veteran who turned to the industry after his service was over. President Trump always looks very good outside. In the Rose Garden, here. He isn't orange; I think it's the lighting for the television cameras that makes him look that way. He is on a roll. There is no way that Biden can compete with this. Anyone who hasn't decided to vote for by now is a complete and total moron. The "squishy" middle. The Karens. The lazy butts, digesting their...
  • Revealed: oil giants help fund powerful police groups in top US cities. Investigation portrays fossil fuel industry as common enemy in struggle for racial and environmental justice in America

    07/27/2020 6:05:23 PM PDT · by karpov · 27 replies
    The Guardian ^ | July 27, 2020 | Nina Lakhani
    Big corporations accused of driving environmental and health inequalities in black and brown communities through toxic and climate-changing pollution are also funding powerful police groups in major US cities, according to a new investigation. Some of Americas largest oil and gas companies, private utilities, and financial institutions that bankroll fossil fuels also back police foundations opaque private entities that raise money to pay for training, weapons, equipment, and surveillance technology for departments across the US. The investigation by the Public Accountability Initiative, a nonprofit corporate and government accountability research institute, and its research database project LittleSis, details how police...
  • Socialist Venezuela: when you put "gasoline" in your car, it's mostly... water

    07/20/2020 12:04:30 PM PDT · by Marinario · 19 replies
    1. Venezhela blames the...US for its economic problems. Says it's cruel... 2. These days, when you put "gasoline" in your car, it's mostly... water. Time stamp: 9:30-10:30 (Jaime Bayly)
  • Dakota Access Pipeline to Shut Down Pending Review, [Obama] Federal Judge Rules

    07/07/2020 10:38:19 AM PDT · by JeepersFreepers · 24 replies
    The New York Times ^ | July 6, 2020 | Jacey Fortin and Lisa Friedman
    The Dakota Access Pipeline, an oil route from North Dakota to Illinois that has inspired intense protests and legal battles, must shut down pending an environmental review and be emptied of oil by Aug. 5, a district court ruled on Monday. It essentially vacates a federal permit that had allowed the pipeline to operate while the United States Army Corps of Engineers, which had granted the permits for the pipeline, conducted an extensive environmental impact review. The decision, which could be subject to appeal, is a victory for the Standing Rock Sioux Tribe and other Native American and environmental groups...
  • Chesapeake Energy files for bankruptcy

    06/28/2020 2:56:02 PM PDT · by yesthatjallen · 34 replies
    The Hill ^ | 06 28 2020 | Rebecca Klar
    Chesapeake Energy Corporation said Sunday it had filed for bankruptcy amid a drop in oil and gas demand and prices due to the coronavirus pandemic. Chesapeake Energy said in a release it filed for Chapter 11 bankruptcy and will continue to operate throughout its restructuring process. The Oklahoma City-based company said it secured a $925 million debtor-in-possession financing from certain lenders under Chesapeakes revolving credit facility, which will be available upon court approval. The company and certain lenders under its revolving credit facility also agreed to the principal terms of a $2.5 billion exit financing, consisting of a new $1.75...
  • Nextrush Unplugged: Weekend Version (DC 19) Liberate America-Atlanta Police Kill Black Man Protests

    06/13/2020 8:18:10 PM PDT · by Nextrush · 1 replies
    Nextrush Free ^ | 6/12/2020 | Nextrush/Self
    The country music sounds blasts from the past good to be here again I'm looking at a radio programming book from 1968 and here in York, PA WNOW at 1250 AM and 105.7 FM was the place for country music back then. I would start listening in during the fall of 1970 to begin my country music journey..... Today out of Dallas we get Glenn Beck with predictable negative comments about Russia. Russia and Texas have something in common. They produce oil and natural gas. Energy. Last December President Trump signed legislation to sanction companies helping to build the Nord...
  • Oil Major BP to Cut 15% of Workforce

    06/09/2020 6:09:28 PM PDT · by fluorescence · 8 replies
    Reuters ^ | June 8, 2020 | Shadia Nasralla and Ron Bousso
    LONDON (Reuters) - BP will cut about 15% of its workforce in response to the coronavirus crisis and as part of Chief Executive Bernard Looneys plan to shift the oil and gas major to renewable energy, it said on Monday. Looney told employees in a global online call that the London-based company will cut 10,000 jobs from the current 70,100. We will now begin a process that will see close to 10,000 people leaving BP most by the end of this year, Looney said in a statement. [snip] ENERGY TRANSITION The job reductions are also part of Looneys drive...
  • Notes from the Oil Patch: Kumbaya Around the Dumpster Fire of 2020

    06/08/2020 1:53:03 PM PDT · by Kaslin · 1 replies ^ | June 8, 2020 | Mead Treadwell
    From my quarantine hidey-hole in Girdwood, Alaska, it was the oddest of Zoom calls. The oil industry and the fishing industry are not always chummy, but here we were on the same video link. Crews in close quarters be they fishing boats or oil tankers or drilling platforms offshore needed appropriate safety measures in this pandemic. Onshore, in remote coastal communities, fish processing plants and oil production facilities both bring in itinerant workers, so both industries sought to avoid enabling contagious vectors of coronavirus for others. The call looked like Hollywood Squares, but no one was cracking jokes....
  • Oil bust could spur natural gas turnaround in San Juan Basin

    06/07/2020 1:19:14 PM PDT · by brownwill6767 · 2 replies
    Santa Fe New Mexican ^ | 6/7/20 | Jens Gould
    To say times are tough for energy companies in the San Juan Basin would be an understatement. The market for natural gas is so bad right now that T. Greg Merrion has shut in nearly half of his family-owned companys wells, most located in northwestern New Mexico. But that could soon change. If Merrion and key industry analysts are correct, there might be a silver lining in the oil crash caused by the coronavirus pandemic it could end up helping northwestern New Mexico natural gas producers and even give a lift to state revenue in a time of crisis.
  • Nextrush Unplugged: Weekend Version Racism Doesn't Define The Ultimate Problem

    06/06/2020 8:30:05 PM PDT · by Nextrush · 2 replies
    Nextrush Free ^ | 6/6/2020 | Nextrush/Self
    Here I am a drunk, a sinner, a hater, a racist currently sober and yes the first description of myself leads all the rest. Its no secret what I believe as I've made clear in countless posts but intoxication is the big issue. Drugs, Alcohol And Pornography lay behind the evil violence that kills and destroys and hurts people and property and politicians can't preach that to people. They'll get no votes in this election year for saying that so we get the urinated pablum about "systematic racism" and "white privilege" and the list goes on. Some Philadelphia music in...
  • Fracking Insanity

    05/30/2020 8:07:26 AM PDT · by rktman · 14 replies ^ | 5/30/2020 | Bob Beauprez
    The coronavirus won't destroy America's energy industry. But Democrats might. Progressive lawmakers like Senator Bernie Sanders have long called for a nationwide ban on fracking. But even Joe Biden, the "moderate" Democratic apparent nominee, recently seemed to embrace this radical idea. The oil and gas industry has already taken a big blow to the gut. Because of reduced demand caused by lockdown orders nationwide and a price war between Saudi Arabia and Russia, the unthinkable happened in April when an oil futures contract sank into negative territory. In my home state of Colorado, hundreds of wells have been abandoned and...
  • Reshuffling: Oil price crash alters priorities, greases skids to new world order

    05/28/2020 8:19:26 PM PDT · by E. Pluribus Unum · 11 replies
    The Washington Times ^ | Thursday, May 28, 2020 | Ben Wolfgang and Guy Taylor
    The sustained plunge in global oil prices has brought deep, unexpected shifts on the geopolitical landscape, with impacts felt in the Arctic and the Middle East, and in the fortunes of the American heartland and the future of the Russian-Chinese strategic alliance. A U.S.-engineered market truce has helped energy prices rebound slightly this month after flatlining in April, but analysts say reverberations will likely be felt for years to come as they chip away at the foundational international partnerships in the post-World War II era and create new alliances and rivalries. Analysts say there is no way the U.S. and...
  • Coronavirus: Venezuelans struggling with fuel shortage - BBC News

    05/24/2020 12:54:42 PM PDT · by DallasBiff · 23 replies
    BBC(Youtube) ^ | 5/13/20 | BBC News
    Venezuela, a country already in crisis, is preparing for the looming coronavirus pandemic. The price of food has increased by 80% since lockdown and fuel is being rationed. It's unheard of in a country that sits on the world's largest oil reserves
  • First piece of disputed Keystone XL pipeline finished

    05/21/2020 11:59:53 AM PDT · by BeauBo · 1 replies
    KUTV (CBS, Billings, MT) ^ | May 21st 2020 | MATTHEW BROWN Associated Press
    A Canadian company has built the first piece of the disputed Keystone XL oil sands pipeline across the U.S. border and started work on labor camps in Montana and South Dakota. But it has not resolved a courtroom setback that would make it hard to finish the $8 billion project. The 1,200-mile (1,900-kilometer) pipeline from Alberta to Nebraska was stalled for much of the past decade before President Donald Trump was elected and began trying to push it through to completion... Work finally started in April at the border crossing in remote northern Montana. That 1.2-mile section has now been...
  • Biden says he would revoke permit for Keystone pipeline

    05/18/2020 8:40:23 PM PDT · by BenLurkin · 33 replies
    Washington Post ^ | Matt Viser and Dino Grandoni
    If completed, the pipeline, which has spent the past decade in political and legal limbo, would help carry some 830,000 barrels of crude oil a day from Canada to refineries in Texas. Although Bidens climate plan was more ambitious than anything proposed by Obama, it attracted criticism from liberals who faulted Biden for not pledging to ban fracking and for attending a fundraiser co-hosted by a co-founder of a natural gas company. Beyond that, Bidens environmental critics worry he will not try to rein in greenhouse gas emissions as aggressively as climate scientists say is necessary. In 2018, a panel...