President Barack Obama proposed Tuesday to raise $319 billion over the next decade for transportation and other needs with a $10.25/bbl tax on crude—up from $10 that was announced last week.
Sen. Lisa Murkowski, R-Alaska, has released a report prepared by the Congressional Research Service (CRS) raising key questions about President Obama’s proposal to levy a new $10/bbl tax on oil.
Shale patches in the U.S. are pumping out more oil and gas than the government previously thought.
MicroSeismic has announced the release of PIndex, DIndex and Production Forecast—proprietary completions evaluation services to quantify and predict reservoir drainage and production.
The global oil surplus will be bigger than previously estimated in the first half, increasing the risk of further price losses, as OPEC members Iran and Iraq bolster production while demand growth slows, according to the International Energy Agency.
Oil at $30/bbl is blowing a hole in the insurance that U.S. shale drillers bought to protect themselves against a crash.
National Oil Corp. in western Libya warned traders against loading “illicit” cargoes of oil at Hariga port in the eastern part of the country amid claims by a competing organization that it’s arranging such sales.
The world’s largest independent oil trader said it’s "business as normal" with Iran as Vitol Group BV confirmed it has already bought cargoes from the country after the end of economic sanctions.
Total has started production from the Laggan and Tormore gas and condensate fields, located in 600 m of water in the West of Shetland area. The fields will produce 90,000 boed.
Unite, Britain’s biggest offshore oil trade union, has warned the UK government that billion-pound losses announced this week by oil industry supermajors could, without serious interventions, bring an end to meaningful production in the North Sea within years.
President Obama should be trying to make America’s energy sector more competitive, Sen. Lisa Murkowski warned after the President proposed a new $10/bbl tax on crude oil amid the worst oil slump since 1986.
U.S. President Barack Obama will launch a long-shot bid next week to impose a $10/bbl tax on crude oil that would fund the overhaul of the nation's aging transportation infrastructure, the White House said on Thursday.
Mozambique and Anadarko Petroleum Corp. are racing to tap gas from one of the biggest discoveries in decades as a global glut looms.
Sound Energy achieved first commercial gas production from the company’s wholly owned Nervesa gas discovery on Wednesday, the company said in a statement.
Total has signed a binding Heads of Agreement with ENN LNG Trading for the delivery of 0.5 mtpa of LNG for a period of 10 years.
Cue Energy Resources Limited advises that the Naga Selatan-2 well (NS-2) has discovered oil and is currently being suspended to allow for future production testing.
Oil bulls distressed that last week’s rally fizzled can find some comfort in forecasts for a bigger and longer rebound by the end of the year.
The U.S. is now supplying OPEC with crude oil, sort of.
Oil rose on Wednesday, paring earlier losses after Russia reiterated its openness to talking with OPEC about output cuts, which helped revive hope among investors that the world's largest producers could act to boost prices.
Russia has, in the last week, sent mixed signals about possible cooperation with OPEC to support prices.