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Oil little changed ahead of US stockpiles report

oil barrel

The price of oil was becalmed Wednesday as the energy market waited for a weekly U.S. crude stockpiles report. Benchmark U.S. crude for May delivery was up 1 cent to $99.20 a barrel at 0755 GMT in electronic trading on the New York Mercantile Exchange. The contract fell 41 cents to $99.19 on Tuesday. Prices might retreat if forecasts for ...

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Crews hope to reopen Houston Ship Channel today as oil spill cleanup continues

Galveston cleanup

By Juan A. Lozano And Nomaan Merchant, The Associated Press GALVESTON, TEXAS — Cannon booms reverberate across the Houston Ship Channel, a scare tactic to keep birds away from oil-slicked beaches. On a mainland shore near a line of refineries, crews scour the sand for quarter-sized tar balls that have washed ashore. Far on the horizon a few ships floated outside the ...

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PRC opens hearings on Gas Co. sale to TECO

natural gas ring

Public hearings on the proposed sale of New Mexico Gas Co. to TECO Energy Inc. of Florida began Monday at the state Public Regulation Commission in Santa Fe. Testimony from utility executives and consultants is expected to last nearly two weeks as lawyers representing the companies and intervenors in the case question them about the sale. TECO wants to acquire ...

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DENR abandons settlement with Duke over coal ash lawsuits


The state’s environmental regulatory agency on Friday abandoned attempts to reach a settlement in its lawsuits against Duke Energy and also announced it was calling in its federal counterpart to help force the utility to clean up coal ash pollution. The N.C. Department of Environment and Natural Resources notified a Wake County Superior Court judge Friday that it wanted to ...

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Update on ethane ‘cracker’ petrochemical plant good news for Beaver County, leaders say

shell logo

State and Beaver County officials can’t wait for Royal Dutch Shell to decide whether it will build a multibillion-dollar petrochemical plant along the Ohio River. Now neighbors won’t have to wait to see intensified activity around the potential ethane “cracker” site. Company officials met with about 30 leaders in a private gathering in Hopewell on Thursday evening to update them ...

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Mexico’s Pemex mulls crude imports, more exports to India, Japan


MEXICO CITY (Reuters) – Mexico’s Pemex <PEMX.UL> is considering crude imports to boost local refinery output, but at the same time, it expects to sell more oil to India and Japan to diversify its export markets. The state-owned company could begin imports of light and intermediate crudes as early as this year to improve production of higher-value refined products like ...

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Can rail infrastructure get back on track?

rail yard

THE FIRST TIME a chunk of concrete from the scarred and pockmarked 86-year-old 25th Street Bridge in South Philadelphia rained down on Ed Penna’s car and cracked his windshield, he sent the repair bill to CSX Corp., the Florida-based transportation giant that owns the lengthy overpass and controls most rail freight on the East Coast. He said CSX laughed that ...

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Breitburn buying QR Energy in $1.46 billion deal

HOUSTON (AP) — Breitburn Energy is buying QR Energy LP in a deal worth about $1.46 billion. QR unitholders will receive approximately 72 million common units of Breitburn Energy Partners LP, or 0.9856 of a Breitburn unit, for each unit of QR Energy that they own. The consideration to be received by QR unitholders is valued at $22.48 per unit, ...

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Oil keeps fueling Odessa economic growth. But could that slow in coming months?

Corey Paul | The Odessa American Higher-than expected oil prices buoyed Odessa’s economy this year despite forecasts of flattening growth, according to the latest Odessa Economic Index by the Amarillo Economist Karr Ingham, released Friday. Ingham was one of those who had anticipated that job growth, building and other signs of the booming economy would slow down after years of ...

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