Houston Chronicle President Donald Trump said during an address from the White House Wednesday that the U.S. no longer needs oil from the Middle East, but American refineries still use the kind of oil that region produces. Thanks to booming shale production, the U.S. reduced shipments from the Persian Gulf to a 30-year low last year. Still, Middle East crude
Reuters LONDON – Oil prices retreated further on Thursday after sharp losses in the previous session, as the market shifted its focused towards rising U.S. crude stocks and away from fears of an imminent escalation of conflict between the United States and Iran. Broadly, prices were moving back towards where they stood before the Jan. 3 U.S. drone strike that
Inter Pipeline Announces January 2020 Cash Dividend
Houston Chronicle Andrew Fastow, who was at the center of the fraud which brought down Enron Corp., said he now accepts full responsibility for his actions after originally viewing himself as a “hero” while chief financial officer at the energy trading giant. Enron used off-books partnerships Fastow created to hide billions of dollars in losses and debt, distorting the company’s
CNBC The biggest black swan event in the oil market is a disruption to the most critical chokepoint in the Middle East, according to an analyst from S&P Global Platts. “The market is extremely exposed to any disruption to vessel traffic in the Strait of Hormuz,” Dave Ernsberger, the firm’s global head of commodities pricing, told CNBC’s “Capital Connection” Thursday. The Strait of Hormuz is a
Houston Chronicle Houston oilfield service company Enterprise Offshore Drilling is laying off more than five dozen oil-rig workers in the Gulf of Mexico amid a downturn in business for one of the company’s clients. In a letter filed with the Texas Workforce Commission, Enterprise reported that the company is laying off 61 people working aboard Enven Energy’s DD 202 offshore
Kemin Industries Adds New Leaders to its Biofuels Business
Cielo Expands Its Reach to Nova Scotia, Gaining Port Access
Reuters The diverging fundamentals of U.S. oil and natural gas can be seen dramatically in the markets, where the oil-to-gas price ratio has surged to its highest in six years. The oil-to-gas ratio, or the level at which oil trades compared with natural gas, recently reached 30-to-1, and could increase further as analysts expect average gas prices will fall for
MDU Resources Announces Webcast of Analyst Conference Call
Borealis to acquire NOVA Chemicals ownership interest in Novealis Joint Venture
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