North America ///

NOIA: Gulf of Mexico Lease Sale 250 results reflect slowly improving market conditions

National Ocean Industries Association (NOIA) President Randall Luthi issued the following statement following today’s Gulf of Mexico Lease Sale 250:

Fewer OPEC barrels are reaching U.S. shores amid supply cuts

U.S. refiners are taking less OPEC-produced oil than ever before as the group’s members continue trimming output.

Abrado performs single spacer direct displacement for GOM operator

Abrado announced today that it has completed its first true single spacer direct displacement for a major shelf operator in the Gulf of Mexico using its VeriClean 200X chemical system.

Ex-Occidental chief in $2.66-billion deal for EnerVest shale

Steve Chazen, who made Occidental Petroleum Corp. a heavyweight of the shale boom, is looking to replicate that success in south Texas with a $2.66-billion deal.

BSEE increases safety inspection time offshore, saves American taxpayers $20 million

Beginning April 1, the Bureau of Safety and Environmental Enforcement (BSEE) is increasing physical inspection time offshore, while reducing taxpayer burden by nearly $20 million over 3.5 years, providing significant cost-savings to the American public.

As Saudi prince visits U.S., shale transforms oil relationship

From Franklin Roosevelt to George W. Bush, American presidents saw oil as the cornerstone of the relationship between Saudi Arabia and the U.S. -- a steady supply from the Middle East’s largest exporter was considered crucial to the economy’s well-being.

BNK Petroleum reports successful frac stimulation at Oklahoma's Tishomingo field

BNK Petroleum Inc. has announced that the Company has finished the fracture stimulation of the Glenn 16-2H well in the Company’s Tishomingo field, in the SCOOP area of Oklahoma.

Oil slips as U.S. shale fears untempered by Russian reassurance

Oil slipped as U.S. explorers resumed their drilling binge, raising concerns over whether output cuts by OPEC and its allies will be enough to clear a glut despite a pledge from Russia that it’s committed to the curbs.

Crude spike on Friday blamed on 'sideways trading'

Crude ended Friday higher after a curious, late-morning spike left analysts scratching their heads.

Texas Alliance contacts Trump regarding NAFTA negotiations, steel tariffs

The Texas Alliance of Energy Producers continues to monitor NAFTA trade negotiations and steel tariffs. It was just last month the TAEP Board passed a resolution asking the U.S. government to recognize the importance of oil and gas exports under NAFTA.

On bleak day, pipeline operators say tax policy is no big deal

On the worst stock-market day for U.S. pipeline operators in two years, Wall Street analysts and pipeline insiders saw reason to smile.

As oil rally fades, Trump's Iran hawk pick seen aiding bulls

For those in the oil market, it may seem like there’s no end to U.S. events determining the course of prices these days. Donald Trump’s sudden firing of Rex Tillerson is unlikely to prove an exception.

Oil, gas leaders warn Trump he risks harming the industry

Oil and gas executives, worried new steel tariffs will crimp their business and that Donald Trump will pull the U.S. out of the North American Free Trade Agreement, are delivering those concerns directly to the president.

BSEE launches risk-based inspection program

The Bureau of Safety and Environmental Enforcement this week announced the implementation of a new Risk-Based Inspection Program that employs a systematic framework to identify facilities and operations that exhibit a high-risk profile.

Canadian oil curve indicates glut relief may be on the way

A lingering Canadian heavy crude glut may be nearing its end.

OPEC acknowledges scale of shale boom as supply outstrips demand

OPEC for the first time is forecasting that new oil supplies from its rivals will exceed growth in demand this year as the U.S. industry thrives.

Oil halts decline as Tillerson's departure boosts Iran risks

Oil halted recent losses as investors weighed a potential increase in geopolitical tensions from the fallout of Rex Tillerson’s ouster as U.S. secretary of state.

Oil slides on speculation U.S. surge will undermine OPEC cuts

Oil slid in New York amid concern that global demand might not absorb swelling U.S. supplies.

Oil sands upgraders may make a comeback amid pipeline crisis

Turning Canada’s heavy oil sands into a more marketable kind of crude is making a comeback, or rather half a comeback.

New York loses bid to block Millennium gas line project

A U.S. appeals court ruled against New York’s bid to block a pipeline that will shuttle natural gas to a $900-million power plant under construction there, setting a potential precedent for other battles over gas conduits.