Northern Ireland—The Last Great Frontier?

Europe’s Carboniferous basins have long been prolific sources of hydrocarbons and characterize many of the fields in and around the North Sea. But one of these basins is virtually overlooked. The Larne Basin in Northern Ireland is a classic Carboniferous basin that has remained unexplored for a couple of reasons. Firstly, historical “troubles” in Northern Ireland deterred the oil companies who were …

How a risky move paid off for this N.Y.C. investor and oil boss

When other major players in the oil-and-gas industry zigged, Scot Cohen zagged. Unconventional drilling, such as fracking across shale plays, has become the popular route for most energy explorers in recent years. Cohen, however, did the opposite: the New York-based investor has put his money into straight conventional drilling using 3D-seismic geology. The decision was …

Valero crude oil gets another shot at NorCal railways

BENICIA, Calif. (KCRA) —Crude oil traveling through Northern California is getting another chance of becoming a reality as an oil company offers a new proposal to the Benicia City Council. Valero wants two 50-car trains to transport tens of thousands of barrels of crude oil daily to its refinery in Benicia, passing through cities like …

U.S. Crude Oil Production – World Oil Lightening Rod

Summary Key world oil number. Decline not “off a cliff.” Weekly estimates flawed. Projections influenced. Oil shale’s influence on U.S. production sparked a world oil price war. It affects the value of energy sector investments worldwide. It is of keen interest by U.S. and world oil market participants. The Energy Information Agency (EIA) reported the …

Crude Oil Price Rises as Inventory Growth Slows

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories increased by 1.3 million barrels last week, maintaining a total U.S. commercial crude inventory of 523.2 million barrels. The commercial crude inventory stands at historically high levels for this time of year, according to the EIA. Tuesday …