June 14 (Reuters) – Oil production in North Dakota, home to
much of the Bakken shale formation, will surge during the summer
months and could exceed the state’s forecast of 850,000 barrels
per day (bpd) by the end of the year, state regulators said on
North Dakota’s Department of Mineral Resources said output
reached yet another record in April, rising 1.3 percent, or just
over 10,000 bpd, to 793,000 bpd despite weather conditions which
included a heavy snowstorm and the coldest April on record.
NEW YORK/LONDON June 11 (Reuters) – Phillips 66 said
on Tuesday it is to sell Ireland’s only refinery, another blow
to Europe’s ailing oil refining industry.
An analyst said it was likely the 71,000 barrels per day
Whitegate facility in Cork would have to shut as it will be hard
to find buyers for it.
June 7 (Reuters) – Gasoline prices at the pump in several
U.S. Midwestern states have spiked close to record highs this
week and were expected to stay near those levels for several
weeks due to unexpected outages at key regional refineries,
industry analysts and traders said on Friday.
All but four of the 25 most expensive cities for gasoline in
the United States are in Midwestern states such as Illinois,
Michigan and Indiana, according to GasBuddy.com, which monitors
retail prices across the country through consumer input.
, May 23 (Reuters) – Phillips 66 said on
Thursday it would use more domestic shale oil at its New Jersey
Bayway refinery and could consider exporting gasoline from the
facility thanks to lower costs and as U.S. fuel demand wanes.
The 238,000 barrel-per-day (bpd) Bayway refinery is one of
several on the East Coast emerging from years of poor margins as
they have depended on higher-priced oil from Europe and Africa
due to a lack of access to cheaper domestic crude.
May 22 (Reuters) – Gasoline prices in the U.S. Midwest
should fall in the coming days after hitting record highs in
several cities last week in the run up to Memorial Day, the
traditional start to the summer driving season, traders and
industry analysts said on Wednesday.
Problems at regional refineries, declining gasoline
stockpiles and delays of shipments into the region from the Gulf
Coast helped boost prices last week, prompting market players to
hoard what fuel they had.
NEW YORK (Reuters) – U.S. hopes for a new shale oil bonanza in Ohio, joining the prolific Bakken and Eagle Ford plays that have raised production to 20-year highs, were shattered on Thursday by the first hard evidence that the Utica formation was primarily gas-prone.
Just two years ago, the Utica had the global oil industry buzzing as companies rushed to buy acreage in the Midwest state in the belief it could hold a $500-billion bounty, as Chesapeake Energy’s former CEO, Aubrey McClendon, had proclaimed.
NEW YORK, May 16 (Reuters) – Oil production from the Utica
shale in the U.S. state of Ohio was lower in 2012 than first
anticipated and in much of the play it will be dwarfed by
“significant” gas output, the Ohio Department of Natural
Resources said on Thursday.
Oil production averaged 1,742 barrels a day, according to a
Reuters calculation from total Utica shale production data
issued by the department.
HOUSTON/NEW YORK (Reuters) – The U.S. oil and gas renaissance that has bestowed unexpected prosperity on states from North Dakota to Pennsylvania and boosted distillate production to a record high in the Midwest is also causing pockets of fuel scarcity: just ask Arkansas.
Farmers, truckers and politicians there are up in arms over plans by Enterprise Product Partners (EPD.N: Quote, Profile, Research, Stock Buzz) to end deliveries on a key pipeline that ships diesel and jet fuel from Texas on July 1. Instead, Enterprise plans to reverse the line to ship ethane, chiefly used as a petrochemical feedstock, from the shale fields in Ohio and Pennsylvania to the Gulf Coast.
HOUSTON/NEW YORK, May 5 (Reuters) – The U.S. oil and gas
renaissance that has bestowed unexpected prosperity on states
from North Dakota to Pennsylvania and boosted distillate
production to a record high in the Midwest is also causing
pockets of fuel scarcity: just ask Arkansas.
Farmers, truckers and politicians there are up in arms over
plans by Enterprise Product Partners to end deliveries
on a key pipeline that ships diesel and jet fuel from Texas on
July 1. Instead, Enterprise plans to reverse the line to ship
ethane, chiefly used as a petrochemical feedstock, from the
shale fields in Ohio and Pennsylvania to the Gulf Coast.
NEW YORK (Reuters) – Six months after Hurricane Sandy ripped into the U.S. East Coast and triggered one of the worst energy crises in decades, there is scattered evidence companies and state agencies have moved to strengthen complex fuel supply networks against future storms.
But the measures taken by energy firms in New York and New Jersey are uneven, state initiatives remain on paper for now, and in the absence of an industry-wide response it’s unclear the region would fare much better should there be a next time.