Oil

Oil prices place pressure on U.S. state budgets

Oil prices place pressure on U.S. state budgets

U.S. States, dependant on hydro-carbon resources are facing increasing budget pressure with shortfalls in revenues. Oil prices continue to fall and critics are unsure whether President-elect Trump’s proposed energy policies will be enough for the fossil fuel to bounce back in those oil dependent states. Oil producers will have been […]

Polls says confidence amongst oil workers low

Polls says confidence amongst oil workers low

A new poll by the union, Unite has shown that the majority of oil and gas workers believe government intervention is needed to secure the future of the industry. A total of 55% of those surveyed said the industry would only survive with government intervention and 24% said they could […]

America’s largest oil deposit found in Texas

America’s largest oil deposit found in Texas

Texas is now the site of the country’s largest oil deposit ever discovered, it was announced by the United States Geological Survey recently. The site at Wolfcamp in West Texas alone is estimated to contain 20 billion barrels of oil, with the wider basin likely to contain 75 billion barrels […]

Wales boosted by refinery investment

Wales boosted by refinery investment

Hundreds of jobs will be supported well into the future following an announcement by Valero Energy to build a combined heat and power plant at their Pembrokeshire refinery. The company submitted their plans for the plant to Planning Inspectorate Wales on Monday which will generate 45MW for the refinery. Valero […]

Huge deposit of untapped oil could be largest ever discovered in US

Huge deposit of untapped oil could be largest ever discovered in US

Via The Guardian A huge deposit of untapped oil, possibly the largest ever discovered in the US, has been identified by the US Geological Survey (USGS) in west Texas. The USGS estimated that 20bn barrels of oil was contained within layers of shale in the Permian Basin, a vast geological […]

FILE - In this Wednesday, Feb. 1, 2012 file photo, miles of pipe ready to become part of the Keystone Pipeline are stacked in a field near Ripley, Okla. The controversy over the pipeline in the hub of Oklahoma's oil activity, was voted the number nine story of the state for 2012. (AP Photo/Sue Ogrocki, File)

Canadian investors eye oil boon after Trump victory

Investors in Canadian oil have been buoyed by the election of Donald Trump over his support for the Keystone pipeline between Canada and America. TransCanada the firm who is behind the Keystone project saw their shares rise 2.2 per cent on Mr Trump’s election. But analysts in Canada’s energy capital […]

Oil industry looks to tech to save itself

Oil industry looks to tech to save itself

Later this month, OPEC nations will meet to finalise an agreement to cut production by two per cent which is opposed by Iran and Iraq. Speaking at the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) Shell’s Vice President for IT, Alisa Choong signalled the company will look to technology […]

World’s largest oil and gas companies give $1bn to carbon capture

World’s largest oil and gas companies give $1bn to carbon capture

Today, carbon capture and storage took a large step forward with the investment by the world’s ten largest oil and gas companies. The CEOs and Chairmen of the company said in a joint declaration they would invest $1 billion over 10 years to reduce their emissions. Announcing the new Oil […]