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Author Archives: Ross Torgerson

18 arrested, accused of using fake identities to get jobs

arrested

BEAUMONT, Texas — Authorities have arrested 18 people on accusations they used fake identities to get jobs at various refineries, industrial plants and shipyards in Southeast Texas. A U.S. district attorney’s office says the accused had been living in the U.S. without legal permission. A federal grand jury indicted the accused earlier this month on charges ranging from illegal re-entry ...

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EIA: U.S. crude oil output to soar till 2020 despite price rout

pumpjack

NEW YORK – The U.S. government on Tuesday forecast domestic crude production will rise even more than expected a year ago, undeterred by the worst price rout since the financial crisis. U.S. crude oil production will peak at 10.6 million barrels per day in 2020, a million barrels more than the high forecast a year earlier, according to the annual ...

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EIA: U.S. to become a net exporter of natural gas by 2017

natural gas

The United States will transition from a net importer of natural gas to a net exporter of the fuel by 2017 as the nation’s shale gas production continues to grow, the U.S. Energy Information Administration said on Tuesday in its Annual Energy Outlook. In its 2014 outlook, the EIA forecast the U.S. would become a net exporter of gas before ...

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Oil prices rise on expected U.S. shale production dip

SINGAPORE – Crude prices rose on Tuesday after the U.S. Energy Information Administration said it expected U.S. shale oil output to record its first monthly decline in over four years. Front-month Brent crude futures were trading up 34 cents a $58.27 a barrel by 0106 GMT, while U.S. crude had risen 31 cents to $52.22. The EIA expects U.S. shale ...

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Texas House set to vote on bill banning local fracking bans

Texas House

AUSTIN, Texas — The Texas Legislature is poised to take a major step toward wiping out a highly-publicized local ban on hydraulic fracturing approved by a college town near Dallas — and ensuring that other communities don’t follow suit. San Angelo Republican Rep. Drew Darby’s bill is poised for House debate and approval Tuesday. His is one of 11 proposals ...

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OPEC publication urges non-members to help stabilize oil market

LONDON – OPEC has criticized unidentified non-member countries for their refusal to cooperate with the oil exporter group in propping up prices and repeated its call for them to do so. “There is a stubborn willingness of some non-OPEC producers to adopt a go-it-alone attitude, with scant regard for the consequences,” said the commentary in the latest edition of the ...

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EIA: U.S. shale oil output to fall in May, first drop in 4 years

NEW YORK – Oil production from the fastest-growing U.S. shale plays is set to fall some 45,000 barrels per day to 4.98 million bpd in May from April, the first monthly decline in over four years, projections from the U.S. Energy Information Administration showed on Monday. The projected slip from 5.02 million bpd in April underscores how record crude production ...

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Oil rises towards $59, supported by U.S. drilling slowdown

pump jack

LONDON – Brent crude rose towards $59 a barrel on Monday as a slowdown in U.S. drilling continued to support prices, offsetting a drop in Chinese oil imports. Front-month Brent futures were up 93 cents at $58.80 a barrel by 1336 GMT, having earlier touched $59.54. U.S. crude was up $1.10 cents at $52.54 a barrel, after hitting $53.10. The ...

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Gas prices expected to hit six-year lows this summer

Gasoline prices are expected to dip this summer to their lowest level in six years, new forecasts show. On Monday, the price of regular gas in Broward County averaged $2.53 per gallon, down 1 cent from a week earlier and off $1.29 from a year ago, according to travel club AAA. The price in Palm Beach County averaged $2.58 per ...

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US oil and natural gas rig count drops by 40 to 988

HOUSTON — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 40 this week to 988 amid depressed oil prices. It was the first time the weekly count was below 1,000 since September 2009. Houston-based Baker Hughes said Friday 760 rigs were seeking oil and 225 explored ...

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