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Mobil in port oil spill inquiry

Mobil’s response to a Lyttelton Harbour fuel spill is being investigated as the regional council’s harbour master voices concerns about how the oil giant reacted. A landslide hit two of Mobil’s tanks in Lyttelton during a storm on March 5, rupturing a tank with 1.2 million litres of jet fuel. Another tank with 91 octane […]

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South Sudan rebels target oil to cut off Kiir’s war funds

* Rebels aim for oil fields and installations * Spokesman says campaign aims to force peace talks * UN denied emergency access to Bentiu town By Carl Odera NAIROBI, April 19 (Reuters) – A fresh offensive by South Sudanese rebels this week aims to seize oil fields and towns with oil installations to starve the […]

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Russia’s Arctic oil rig to boost country’s role on world energy markets – Putin

“The start of loading of the oil produced at Prirazlomnaya means that the entire project will exert a most encouraging influence on Russia’s presence on the energy markets and will stimulate the Russian economy in general and its energy sector in particular,” he said. Putin witnessed the loading of the first batch of oil from […]

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Once-In-A-Decade Surge In Oil Inventories Chalked Up As ‘Anomaly’

A once-in-a-decade surge in U.S. oil inventories had traders scratching their heads this week. U.S. crude-oil supplies rose by 10 million barrels last week, the biggest one-week gain since 2001, according to the U.S. Energy Information Administration. But much of the increase happened on the West Coast, far from the gushing wells in North Dakota […]

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Keystone Decision Delayed by U.S. Over Nebraska Court Case (1)

The Obama administration said it was delaying a decision on the Keystone XL oil pipeline due to a legal challenge to the project in Nebraska, a move that may push final action until after the November election. Environmental groups that view the $5.4 billion proposed link between Canada’s oil sands and U.S. Gulf Coast refineries […]

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Former BP Employee to Settle Insider-Trading Allegations

A former BP PLC employee and senior responder during the 2010 Deepwater Horizon oil spill has agreed to pay $224,118 to settle charges of insider trading, the Securities and Exchange Commission said Thursday. Keith A. Seilhan of Tomball, Texas, has agreed to return more than $100,000 of allegedly ill-gotten gains and pay a civil penalty. […]

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Is the Bank of Canada Taking a Flyer on Oil Prices?

Central banks aren’t known for making bold, long-range predictions on energy market dynamics. That’s for good reason, since commodities such as oil and gas are among the most volatile inputs tracked by models that economic forecasters rely on to gauge growth prospects. The Bank of Canada appears to have shirked that conventional wisdom in its […]

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Brent Oil Climbs to Six-Week High as Ukraine Crisis Escalates

Brent crude climbed to a six-week high on the escalating Ukraine crisis. West Texas Intermediate traded near $104 a barrel after a government report showed that U.S. inventories surged last week. Futures rose 0.2 percent in London. Ukraine accused Russia of fueling terrorism in its eastern regions as a move against separatists in the town […]

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RPT-Remote, oil-rich Shetland elbows way into Scotland’s independence vote

(Repeats without changes to text to include link to picture slideshow, adds additional clients) * Shetlanders want more say, more oil revenue * Debate stirred by Scottish independence movement * Shetlanders first, Scottish second By Sarah Young LERWICK, Shetland Islands, April 16 (Reuters) – Twelve hours by ferry from the Scottish mainland, hundreds of miles […]

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The Gulf Oil Spill: Four Years Later

(WILDLIFE CONSERVATION/ANIMAL WELFARE) This month marks four years since the disastrous BP Oil Spill in the Gulf of Mexico. Also known as the Deepwater Horizon oil spill, it claimed the lives of 11 people and had catastrophic effects on the environment and surrounding wildlife. The U.S. Government estimated the total discharge at 4.9 million barrels […]