Production News
Missing data causing rig reconstruction mystery
A “black box” can reveal why an airplane crashed or how fast a car was going in the instant before an accident. Yet there are no records of a critical safety test supposedly performed during the fateful hours before the Deepwater Horizon oil rig exploded in the Gulf of Mexico.
They went [...]
BP faces choppy waters after huge oil spill
Stopping a potentially devastating slick from a damaged oil well in the Gulf of Mexico is only part of the headache currently facing BP.
The company also faces a massive clean-up bill, plus legal action from those affected and possible damage to its global brand.
It is not the first time BP has faced [...]
Oil Spill Gulf of Mexico 2010 UPDATE
New data show that the oil spill in the Gulf of Mexico is five times larger than it was estimated previously! The situation is rapidly getting out of control, and Coast Guard officials have announced they will try to burn portions of the oil in an effort of oil spill containment.
The [...]
Oil spilled at east Texas port
PORT ARTHUR, Texas – A crude oil spill in a southeast Texas port that happened when a tanker and towing vessel collided Saturday was not expected to spread beyond a two-mile area, the U.S. Coast Guard said.
It was unclear exactly how much oil spilled into the water, but the Coast [...]
Crude Oil Trades Near $74 as Fed Expects ‘Moderate’ U.S. Growth
By Paul Burkhardt and Ben Sharples
Dec. 8 (Bloomberg) — Crude oil traded near $74 a barrel in New York after falling as Federal Reserve Chairman Ben S. Bernanke said the U.S. economy will face a weak labor market and tight credit, signaling fuel demand will be slow to recover.
Oil dropped a fourth day yesterday as [...]
Crude Oil Weighed by Demand Concerns
NEW YORK (TheStreet) — Crude oil futures fell further on Monday, even as the dollar weakened after the Federal Reserve indicated it will keep interest rates low in the near-term.
The January delivery contract for light, sweet crude extended its losses on Monday, losing $1.54, or 2%, to settle at $73.93 a barrel. Crude oil [...]
Chevron Corp. Signs $82 Billion Contract With Tokyo Electric (CVX)
Dec 05, 2009 (SmarTrend(R) News Watch via COMTEX) —-12/5/2009 – Chevron Corp. (NYSE:CVX) signed an $82 billion contract to supply liquefied natural gas to Tokyo Electric Power Co., according to an AP report. Chevron is also selling the utility a stake in its Wheatstone project.
The contract is for up to 20 years and covers about [...]