Tags » Oil Production And Refining

U.S. EPA grants biofuels waiver to billionaire Carl Icahn's oil refinery: sources

NEW YORK — The U.S. Environmental Protection Agency has granted a financial hardship waiver to an oil refinery owned by billionaire Carl Icahn, a former adviser to President Donald Trump, exempting the Oklahoma facility from requirements under a federal biofuels law, according to two industry sources briefed on the matter. 804 more words

Energy

Marathon Petroleum to buy Andeavor for $23 billion, creating new top U.S. refiner

Marathon Petroleum Corp said on Monday it would buy rival Andeavor for more than US$23 billion, forming a company that will leapfrog Valero Energy Corp as the largest independent U.S. 430 more words

Energy

'Mission accomplished': OPEC has succeeded in shrinking oil stocks, IEA says

LONDON — OPEC and its allies appear to have accomplished their mission of bringing global oil stocks to desired levels, the International Energy Agency said on Friday, signalling that the markets could become too tight if supply remains restrained. 409 more words

Energy

As if the shale boom wasn't enough of a headache: Aging oil fields defy gravity to pump even more crude

Bob Dudley, in his 38 years in the oil industry, has never seen anything like what happened with BP Plc’s old fields last year: They gushed more crude. 607 more words

Energy

OPEC, Russia agree oil cut extension to end of 2018

VIENNA – OPEC and non-OPEC producers led by Russia agreed on Thursday to extend oil output cuts until the end of 2018 as they try to finish clearing a global glut of crude while signaling a possible early exit from the deal if the market overheats. 743 more words

News

'As precious as the resources:' Data science is oil industry's Next Big Thing

Lake Louise, Alta. • From low oil prices to renewable energy competition, Canada’s oil and gas sector has seen plenty of difficult disruption in recent years, but it’s eagerly embracing the next big thing: data science. 559 more words

Energy

Oil industry shows signs of life after Norway wealth fund shock

A week after Norway’s US$1 trillion sovereign wealth fund said it wanted to get out of oil and gas investments, the latest spending plans from oil companies show how the country’s not about to quit petroleum. 568 more words

Energy