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Wed, 18 Jul 2018 18:09:00 GMT
Oil industry, ethanol witnesses cite different grievances with RFS

Witnesses from the American Petroleum Institute and the Renewable Fuels Association appeared equally dissatisfied with the US Environmental Protection Agency’s recently proposed 2019 biofuel quotas under the Renewable Fuel Standard at a public hearing in Ypsilanti, Mich.

Wed, 18 Jul 2018 17:58:00 GMT
Northern continues to increase Williston basin inventory

Northern Oil & Gas Inc. will acquire a North Dakota asset currently producing more than 4,100 boe/d from Tailwater Capital LLC-backed Pivotal Petroleum Partners for $68.4 million in cash and 25.75 million shares of common stock.

Wed, 18 Jul 2018 17:52:00 GMT
EIA: US crude stockpiles increase 5.8 million bbl

US crude oil inventories, excluding the Strategic Petroleum Reserve, reversed course from the prior week’s draw with a 5.8 million-bbl increase for the week ended July 13, according to US Energy Information Administration data.

Wed, 18 Jul 2018 17:44:00 GMT
IEA: Global energy investment decline for third straight year

Global energy investment declined for the third consecutive year in 2017 to $1.8 trillion, a shortfall of 2% in real terms from the previous year, according to the recently released World Energy Investment 2018 report from the International Energy Agency.

Wed, 18 Jul 2018 16:48:00 GMT
FERC moving ahead on LNG project applications, chairman says

Denying a report that the US Federal Energy Regulatory Commission notified LNG project sponsors that there would be a 12-18 month delay in processing applications, Chairman Kevin McIntyre said the commission has made significant strides “in reforming the permitting process in working with federal partners, eliminating duplicative processes, and streamlining procedures that will significantly reduce our LNG permitting timelines.”

Wed, 18 Jul 2018 16:17:00 GMT
MARKET WATCH: Oil prices gain despite talk of rising US, Saudi crude supply

Light, sweet oil prices settled slightly higher on the New York market July 17 after dropping to the lowest level nearly a month earlier on expectations of additional crude oil likely becoming available to world markets.