Joshua's Feed
Apr 20, 2013

Texas fertilizer company didn’t heed disclosure rules before blast

NEW YORK, April 20 (Reuters) – The fertilizer plant that
exploded on Wednesday, obliterating part of a small Texas town
and killing at least 14 people, had last year been storing 1,350
times the amount of ammonium nitrate that would normally trigger
safety oversight by the U.S. Department of Homeland Security
(DHS).

Yet a person familiar with DHS operations said the company
that owns the plant, West Fertilizer, did not tell the agency
about the potentially explosive fertilizer as it is required to
do, leaving one of the principal regulators of ammonium nitrate
- which can also be used in bomb making – unaware of any danger
there.

Apr 19, 2013

Before Texas plant exploded: What did regulators know?

HOUSTON/NEW YORK, April 19 (Reuters) – Despite being located
within a short walk of a nursing home, school and residential
buildings, West Fertilizer Co in central Texas had no blast
walls and had filed no contingency plan to the Environmental
Protection Agency for a major explosion or fire at the site.

It remains unclear what safety measures, if any, were
required of the company or whether West Fertilizer failed to
comply. But on Wednesday night, the company’s fertilizer complex
in West, Texas – population, 2,600 – exploded with such force
that 60 to 80 homes were flattened, the school and nursing home
took heavy damage and at least 14 people were killed,
authorities said.

Mar 21, 2013

Looming divorce could threaten U.S. oil baron’s empire

ATLANTA/NEW YORK, March 21 (Reuters) – Continental Resources
chief executive Harold Hamm, one of America’s wealthiest and
most influential businessmen, is embroiled in a contentious
divorce that could lead to a record financial settlement and
threaten his control of America’s fastest-growing oil company.

Sue Ann Hamm, Harold Hamm’s second wife and a former
executive at Continental, filed for divorce on May 19, 2012,
Oklahoma court records show.

Mar 21, 2013

UPDATE 1: Looming divorce could threaten U.S. oil baron’s empire

ATLANTA/NEW YORK, March 21 (Reuters) – Continental Resources
chief executive Harold Hamm, one of America’s wealthiest and
most influential businessmen, is embroiled in a contentious
divorce that could lead to a record financial settlement and
threaten his control of America’s fastest-growing oil company.

Sue Ann Hamm, Harold Hamm’s second wife and a former
executive at Continental, filed for divorce on May 19, 2012,
Oklahoma court records show.

Mar 21, 2013

Exclusive: Looming divorce could threaten U.S. oil baron’s empire

ATLANTA/NEW YORK (Reuters) – Continental Resources chief executive Harold Hamm, one of America’s wealthiest and most influential businessmen, is embroiled in a contentious divorce that could lead to a record financial settlement and threaten his control of America’s fastest-growing oil company.

Sue Ann Hamm, Harold Hamm’s second wife and a longtime executive at Continental, filed for divorce on May 19, 2012, Oklahoma court records show.

Mar 20, 2013

Brent oil rises from 3-month low as Cyprus concern eases

NEW YORK, March 20 (Reuters) – Brent crude oil rose above
$108 a barrel on Wednesday, recovering from a three-month low,
after the U.S. Federal Reserve signalled it would continue its
stimulus programs and on optimism that European policymakers can
keep a debt crisis in Cyprus from spreading.

The Federal Reserve wrapped up a two-day meeting on
Wednesday by pressing forward with its aggressive efforts to
stimulate the U.S. economy, saying it would take into account
risks posed by its policies but also how much progress it was
making lowering unemployment.

Mar 19, 2013

Brent oil near 3-mth low as Cyprus bailout raises concerns

NEW YORK, March 19 (Reuters) – Brent crude oil fell to
around $108 a barrel on Tuesday, near a three-month low, as
uncertainty over a bailout for Cyprus raised concern about the
euro zone debt crisis and its impact on energy demand.

Cyprus’s parliament appeared likely to reject a divisive tax
on bank deposits, pushing the island closer to a debt default
and banking collapse. A vote was scheduled for 12 p.m. EDT (1600
GMT), but it had earlier been postponed twice. A German official
said it was unclear when results would come.

Mar 18, 2013

Oil falls towards $109 on Cyprus worries

NEW YORK, March 18 (Reuters) – Brent crude oil fell towards
$109 a barrel on Monday as stock markets tumbled and the dollar
strengthened after an unusual bank bailout proposal for Cyprus
threatened to trigger fresh economic turmoil in the euro zone.

A proposal for debt-laden Cyprus to tax depositors as part
of a bailout plan for the country sparked fears of a run on some
banks in the region. Concern over fallout helped weaken the euro
and other riskier assets such as Asian shares and base metals.

Mar 15, 2013

Oil gains on U.S. recovery prospects, supply worries

NEW YORK, March 15 (Reuters) – Brent crude rose to near $110
per barrel on Friday as strong U.S. economic data fuelled
prospects of increased demand in the world’s top oil consumer,
while concerns over supply from the Middle East added support.
U.S. industrial production strengthened more than expected
in February on a rebound in manufacturing.
“The positive development in industrial production shows
that U.S. economic prospects are looking up,” said Harry
Tchilinguirian, an oil analyst at BNP Paribas in London.
Oil prices had also received a boost on Thursday from U.S.
President Barack Obama’s comments that military force remained
an option if sanctions and diplomacy failed to curb Iran’s
nuclear ambitions.
Brent for May delivery, the primary global
benchmark, was up 93 cents at $109.89 per barrel by 1:02 p.m.
EDT (1702 GMT), gaining for a second straight session following
four consecutive days of losses.
Brent is still poised for its fourth weekly decline in five
weeks.
U.S. oil gained 45 cents to $93.48 per barrel.
“In the oil market I think there is a broad book-squaring
move afoot,” said Tim Evans of Citi Futures in New York.
“Traders who in recent weeks benefited from going short oil
may now be taking profits and covering their positions.”
Oil was also supported by weakness in the U.S. dollar
, which made dollar-denominated crude more affordable to
holders of other currencies.
The dollar fell on Friday on investor concern that recent,
strong U.S. economic data could prompt an early retreat from
monetary easing by the Federal Reserve.

STANDOFF
Iran was still more than a year from developing a nuclear
weapon, Obama said in an interview with Israeli television
broadcast on Thursday, six days before his visit to Israel.

Mar 13, 2013

Brent crude falls on rising inventories, strong dollar

NEW YORK, March 13 (Reuters) – Brent crude fell on Wednesday
on a larger-than-expected increase in U.S. crude inventories, a
firming dollar, and a forecast from the International Energy
Agency that oil demand will shrink.

Brent fell $1.13 a barrel to settle at $108.52,
below its 200-day moving average of $109.37, a technical support
level monitored by traders. U.S. crude futures fell 2
cents to settle at $92.52 a barrel.