After offering an extension to attract more commitments, Enterprise decides not to move ahead on project In a two sentence release from the company today, Enterprise Products Partners (ticker: EPD) announced that it would not be moving forward with its proposed Bakken-to-Cushing crude oil pipeline. The project was initially announced September 4 of this year by the company, which said
VAALCO Energy, Inc. is a Houston based independent energy company principally engaged in the acquisition, exploration, development and production of crude oil. VAALCO places high emphasis on international opportunities and holds acreage in Gabon, Angola and Equatorial Guinea in West Africa. A total of 2,487,000 gross acres (902,000 net) are in EGY’s portfolio, with the majority (roughly 89%) located offshore.
Story by Bloomberg The world’s biggest oil companies faced ruin in the summer of 1931. Crude prices had plummeted. Wildcatters were selling oil from the bonanza East Texas field for a nickel a barrel, cheaper than a bowl of chili. On Aug. 17, Governor Ross Sterling declared a state of insurrection in four counties and sent 1,100 National Guard troops
World’s Largest Solar Generating Plant Struggles to Make Ends Meet if the Sun Doesn’t Shine Who knew? In the midst of free-falling oil prices that have knocked about the growth plans for petroleum developers, owners of the world’s largest solar power plant have discovered that cloudy days significantly reduce their revenues. “Industry-wide figures suggest that a 5% negative anomaly in solar
Rosneft and Essar agree on key terms of Russian oil supplies to India Russia’s upstream producer Rosneft (ticker: RNFTF) and India’s oil refiner Essar signed key terms of oil and oil products supplies to refineries in India, according to a press release from Rosneft. The document was signed on December 11 in New Delhi by the head of Rosneft, Igor
Alaska’s revenue forecast, released Wednesday, predicts a deficit of $3.5 billion, an increase of $2.1 billion from what lawmakers expected in April. The forecast expects unrestricted general fund revenue of $2.6 billion this year, down from $5.4 billion in 2014, reports Fox Business. That, combined with about $200 million in anticipated supplemental budget items like oil and gas credits, accounts
