Post Tagged with: "strategic petroleum reserve"

Exxon May Crush Bailout Hopes for Suffering Fracking Companies

Exxon May Crush Bailout Hopes for Suffering Fracking Companies

DESMOG

Oil & Gas 360 Publishers Note: Justin Mikulka has written an outstanding opinion piece of current issues surrounding the oil companies dire straights. The key takeaway:" “What happens?” Sheffield said. “As you know there's about 74 public independents, there’s

Exxon May Crush Bailout Hopes for Suffering Fracking Companies

Exxon May Crush Bailout Hopes for Suffering Fracking Companies

DESMOG


Oil & Gas 360 Publishers Note: Justin Mikulka has written an outstanding opinion piece of current issues surrounding the oil companies dire straights. The key takeaway:” “What happens?” Sheffield said. “As you know there’s about 74 public independents, there’s

Source: Houston Chronicle

U.S. energy chief shrugs off Permian oil slowdown as a ‘pause’

Houston Chronicle


The golden age of U.S. shale is far from over, with an expected slowdown in the Permian Basin likely to be temporary, according to the new U.S. Energy Secretary.

The shale boom helped transform the U.S. into a …

Cushing, Okla., is one of the United States oil facilities in the Keystone Pipeline System.

TransCanada’s 4,250-kilometre (2,640 mile) Keystone Pipeline System transports approximately 20 per cent of western Canadian crude oil exports to key refineries in the U.S. Midwest and Gulf Coast, where it is converted into fuel and other useful petroleum products.

Exxon and Others Say U.S. Government Sold Toxic Crude Oil

From Bloomberg

Exxon Mobil Corp. is the latest company to raise concerns that a stockpile of U.S. government crude is tainted with poisonous gas.

The American energy giant said some of the oil it purchased last year from the …

April 12, 2019 - 5:58 pm Closing Bell Story‎, Crude Oil News, Energy News
Marathon, Motiva and Phillips 66 Winners in 4.3 Million Barrel SPR Crude Oil Sale

Marathon, Motiva and Phillips 66 Winners in 4.3 Million Barrel SPR Crude Oil Sale

Winning offers in the ~$65-$67 range
The U.S. Department of Energy’s (DOE) Office of Fossil Energy announced on March 22 that it has awarded contracts to winning bidders in the recent Strategic Petroleum Reserve (SPR) crude oil sale.
DOE offered

Congress Readies to Sell off Empty Space in Strategic Petroleum Reserve

Congress Readies to Sell off Empty Space in Strategic Petroleum Reserve

What to do with a vast government complex of underground salt caverns that once held hundreds of millions of barrels of oil?

As Congress steadily sells off the oil contained within the Strategic Petroleum Reserve – residing 1,000 feet beneath …

Image: Oil & Gas 360

100 Million Barrels of Strategic Oil Reserves to be Sold

Recent U.S. legislation has directed the sale of more than 100 million barrels of oil from the Strategic Petroleum Reserve (SPR) in government fiscal years 2022 through 2027.

Based on legislated sales established in multiple acts of Congress, the SPR …

February 26, 2018 - 2:05 pm Closing Bell Story‎, Finance, Law, Oil and Gas 360 Articles
U.S. Budget Deal Would Sell 15% of SPR—100 Million Barrels

U.S. Budget Deal Would Sell 15% of SPR—100 Million Barrels

From Reuters

WASHINGTON (Reuters) – The U.S. budget deal reached by Congress on Wednesday includes the sale of 100 million barrels of crude oil from the country’s emergency petroleum stash starting in 2022, or about 15 percent of the reserve, …

February 9, 2018 - 12:35 pm Closing Bell Story‎, Energy News