Crude oil
HP Brief
Uncertainty looms in EU economyEuropean chemicals output contracted by 2% in 2012 compared with 2011, according to European chemicals group Cefic. By lowering its forecast released in September, the c..
HP Industry Perspectives: 2012: Is it over yet?
According to a year-end report from the American Chemistry Council (ACC), the global economy is still stumbling three years after the “great recession of 2008.” The Euro area is challenged t..
HP Impact: US crude production hits 15-year peak
The US Energy Information Administration (EIA) reports that US crude oil production (including lease condensate) averaged almost 6.5 million bpd in September 2012, the highest volume in nearly 15 year..
HP Impact: Canadian oil sands GHG emissions scrutinized
IHS has released an update to its 2010 report comparing the greenhouse gas (GHG) emissions from fuels made from Canadian oil sands to those from other crude sources. The new analysis found that total ..
PdVSA holds meetings with Repsol, Eni to discuss fuel, energy ventures
In a statement released Wednesday, PdVSA, as the Venezuelan company is known, didn't specify what the discussions with Repsol would include. It noted, however, the state entity is in the process of "reviewing and advancing" agreements with its Spanish counterpart, as well as Italy's Eni .
API sees lower US oil, gasoline, distillate demand
The US used the lowest volume of oil in 17 years in November, the API trade group said. With the exception of May, US oil use has fallen year-on-year in each month so far in 2012. Eleven-month demand is down 2.1%, or around 400,000 bpd, from the same period a year earlier.
ExxonMobil sees North America becoming net oil, gas exporter by 2025
The closely watched annual forecast of energy trends, set to be released Tuesday, concludes the growth of US and Canadian oil and gas production has staying power and could lead to more international shipments of oil and gas, said Exxon's vice president of corporate strategic planning, who led the study.
EIA lowers 2012 forecast for US crude oil prices
Spot prices for West Texas Intermediate, the US benchmark, will average $88.51/bbl in the fourth quarter, according to the December edition of the US Energy Department's Short-Term Energy Outlook. That's down from the $89.50/bbl that was predicted in November's report.
Aramco cyber attack targeted Saudi production
The oil giant says an August cyber attack on its computer network targeted not just the company but the kingdom's economy as a whole, seeking to stop oil and gas production. The interior ministry joined Aramco's investigation into the attack that affected some 30,000 of the firm's computers.
Enbridge to expand light oil pipeline network from North Dakota, Canada
The program is one of several projects the big Calgary, Alberta company and others have unveiled this year to respond to booming North American energy output, particularly in the continental Midwest, where pipeline constraints have led to bottlenecks and lower prices for the region's crude.
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