GAO: Macondo spill claims pass 60% of OPA liability cap

April 21,2011 --As reported by the New American Journal and the US Coast Guard’s National Pollution Funds Center, which administers the Oil Spill Liability Trust Fund established under the 1990 Oil Pollution Act, has obligated or incurred $625.9 million in costs involved with responses to it.

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KPC: Global demand softens effect of Japan crisis on Kuwait

April 21,2011 -- Current levels of global demand for oil would buffer the impacts of Japan’s nuclear crisis on Kuwait, according to Abdelatif Al-Houti, Kuwait Petroleum Corp. (KPC) managing director for world marketing. It would also allow for a an increase in bitumen or asphalt to help improve roadwyas and quality streets throughout the world.

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Why Take Concentrated Fish Oil Capsules?

Hello.  Welcome to the most trusted information internet site on concentrated fish oil supplements.  Our team has been researching the health sciences for many years now and would like to share some information about the unique properties of concentrated fish oil and its effect on various health challenges.  Please take some time to look around http://newsonmedicine.com/ for more data.

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Regulators, legislators scrutinize shales, fracs

April 22,2011 -- Legislative and regulatory officials on three continents are ratcheting up their scrutiny of licensing and permitting for shale oil and gas projects that involve hydraulic fracturing. The domain expertise or environmental expertise consider fracking or hydrofracking a threat to the environment as well as the health and safety of the impacted area. To say that this practice is under some scrutiny is putting it mildly.

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IPIC, Oman Oil sign cooperative agreement

April 22,2011 -- The Oman Oil Co (OOC) and Abu Dhabi’s state-owned International Petroleum Investment Co (IPIC) signed a cooperation agreement on investment projects in the sectors of oil, gas, and petrochemicals. One might say that courage makes a majority, but in this case the OOC and IPIC are only a piece of the pie. However, it is a step in the right direction and it is nice to see orga

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Wrong reasons steer Obama to wrong path on oil import cuts

April 18,2011 --The goal reasserted by US President Barack Obama last month to cut US imports of oil by one-third can be good or bad, depending on the route chosen and the reason for making the effort. The decision is based on a selfish political standpoint and not so much on a an economic one. By twisting and reworking the "motive" of this goal the US could prevail. By developing new technology that will rely less on oil and create a much cleaner and user friendly footprint on the world not

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BOEMRE seeks recently retired petroleum engineers, Bromwich says

April 22,2011 -- The US Bureau of Ocean Energy Management, Regulation, and Enforcement has asked major US producers to provide names of recently retired petroleum engineers who could help the agency improve offshore oil and gas operations as well as develop new adaptive protocols, BOEMRE Director Michael R. Bromwich disclosed. These position would be temporary until more analysts and inspectors can be hired.

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BOEMRE completes draft SEIS for Lease Sale 218

April 21,2011 --

The US Bureau of Ocean Energy Management, Regulation, and Enforcement has completed a draft supplemental environmental impact statement (SEIS) for proposed US Outer Continental Shelf Lease Sale 218 in the western Gulf of Mexico.

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Shale gas resource estimates

April 18,2011 --The recent estimates from the US Energy Information Administration on world shale gas show that these sediments contain considerable volumes of potential gas resources. ....

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CAMAC Energy appoints new CEO

April 22,2011 --

CAMAC Energy Inc. has appointed current Chairman Kase Lawal as chief executive officer. Lawal has served as non-executive chairman since April 2010.

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Senate casts tie vote on EPA GHG amendment

April 18,2011 --Both sides claimed victory after the US Senate cast a 50-to-50 vote on Minority Leader Mitch McConnell (R-Ky.) and Environment and Public Works Committee Ranking Minority Member James Inhofe's (R-Okla.) amendment to halt the US Environmental Prote.......

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The perils of caution

April 18,2011 --The making of US energy policy suffers from automatic resistance to any initiative that promises to boost supply of fossil energy. ....

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Afternoon Price Check, April 20: Crude and Heating Oil Rally on Falling Oil Stocks and Weakening Dollar

Crude and heating oil both rallied to post big gains at the NYMEX on a surprise fall in US crude and distillate reserves and slipping US dollar.Crude added 2.9 percent to close at $111.45 on Wednesday – its highest price since April 8. After slipping 3 cents overnight, retail heating oil prices added 5 cents [...]

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Heating Oil Price Trend for April 22: -2¢

Heating oil closed out the week down slightly but crude gained in messy trading ahead of Good Friday.In a week that saw the US dollar slip to its lowest level since August 2008 against a basket of major currencies, traders bought up crude contracts to hedge against the slipping dollar. The dollar has plunged since [...]

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API: US oil demand surged in March, first quarter 2011

April 21,2011 --

Despite steadily rising fuel prices in this year’s first quarter, deliveries of crude oil and petroleum products were up sharply from a year ago, according to the latest data from API.

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Heating Oil Price Trend for April 21: +6¢

A weakening US dollar and surprise plunge in oil product reserves sent crude and heating oil prices higher on Wednesday amid signs of strengthening demand.The dollar fell to its lowest level in three years against a basket of foreign currencies, sparking an overseas buying frenzy for oil and commodities traded in US dollars. It has [...]

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WorleyParsons: LNG has lower GHG-emission benefit

April 21,2011 --

An independent report produced by WorleyParsons Ltd. and released at the Australian Petroleum Production & Exploration Association (APPEA) conference in Perth noted the benefits of LNG in reducing greenhouse gas (GHG) emissions.

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Government, industry warnings persist a year after Macondo

April 21,2011 --

Government and industry officials cited substantial progress in improving offshore oil and gas operations on the first anniversary of the Macondo deepwater well accident and oil spill.

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Strong state programs key to safe shale gas activity, senators told

April 18,2011 --Strong state enforcement programs are essential to ensure that drinking water supplies are protected as more natural gas is produced from tight shale formations, witnesses told a hearing of the US Senate Environment and Public Works Committee and .......

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Obama Takes Action To “Root Out” Illegal Oil Speculators

The war of words on oil market speculators has boiled over into action, with President Barack Obama announcing a taskforce to “root out” fraud.President Obama said officials were investigating whether Wall Street traders were illegally manipulating commodity markets for profit by driving up the price of oil.The attorney general is putting together a team whose [...]

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