Tag Archives: Bakken Oil Formation

Obama rejects new oil pipeline, blames Congress

Obama rejects new oil pipeline, blames Congress WASHINGTON – President Obama yesterday rejected for now the proposed Keystone XL oil pipeline, saying the $7 billion project could not be adequately reviewed by the 60-day deadline set by Congress. While the … Continue reading

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Russian oil teams up with Exxon Mobil

Russian oil teams up with Exxon Mobil MOSCOW (AP) – Russia’s state-owned Rosneft teamed up with U.S. company Exxon Mobil on Tuesday in a multibillion deal to develop offshore oil fields in the Russian Arctic – one of the last … Continue reading

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U.S. to Release 30 Million Barrels of Oil from Strategic Reserve

U.S. to Release 30 Million Barrels of Oil from Strategic Reserve The U.S. is releasing 30 million barrels of oil from the Strategic Petroleum Reserve as part of an international effort to make up for the loss in supply from … Continue reading

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OPEC leaves output on hold, causing oil price jump

OPEC leaves output on hold, causing oil price jump VIENNA (AP) – OPEC unexpectedly left its production levels unchanged on Wednesday, causing oil prices to jump, as senior officials said their meeting ended in disarray – a stunning admission for … Continue reading

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