Refining props up earnings as upstream results weaken
First-quarter 2007 earnings for a sample of companies were mixed, as service and supply firms fared much better than oil and gas producers and refiners based in the US and Canada.
Themes emerge as Congress works on separate energy bills
Legislative activity at the US Capitol on June 13 centered on the full Senate’s debate of the Democratic leadership’s energy legislation and the House Natural Resource Committee’s approval by 26 to 22 votes of a bill with several provisions that directly affect oil and gas producers and federal regulators.
WATCHING GOVERNMENT: Hot gasoline fuels hearing
When US Rep. Dennis J. Kucinich (D-Ohio), who chairs the House Oversight and Government Reform Committee’s Domestic Policy Subcommittee, announced that he would hold a hearing on gasoline prices, I was skeptical.
Energy reform bill approved by US House committee
On June 13 the US House Natural Resources Committee approved HR 2337, the energy reform bill proposed by NRC Chairman Nick J. Rahall (D-W.Va.), after less than a week of markup sessions.
API lists concerns about House, Senate energy bills
American Petroleum Institute officials expressed concern that provisions before the 110th US Congress could effectively reduce available oil and gas supplies and harm US consumers.
ACCF: Price-gouging legislation could be costly
Legislation calling for price controls on gasoline could have counterproductive and costly consequences if passed by US Congress, a spokeswoman for the American Council for Capital Formation told reporters in Houston June 13.
WATCHING THE WORLD: Sea terrorists threaten oil
Even as increased demand strains supplies of crude oil and natural gas around the world, seaborne terrorism continues to pose a major threat of disruption to international deliveries.
BP: World oil demand growth rate weakened in 2006
Global demand for oil in 2006 saw its weakest growth rate since 2001, at 0.7% or half the average for the past decade, according to BP PLC’s Statistical Review of World Energy 2007, released by the company June 12.
CSB blames unsafe work practices for oil field blast
Unsafe work practices caused a 2006 fire and explosion in a Mississippi oil field that killed four employees of a contractor and seriously injured a fifth employee, the US Chemical Safety Board concluded in a recently released investigation.
BLM authorizes natural gas wells on Colorado’s Roan Plateau
The US Bureau of Land Management authorized the drilling of as many as 1,570 natural gas wells over 20 years on part of the Roan Plateau in western Colorado.