Business news

American Petroleum Institute president comments on efforts to develop US oil and natural gas resources.

Charles T. Drevna releases a statement following the markup hearing of anti-terrorism standards for chemical facilities.

API president believes the study’s finding are especially relevant given the current debate on energy taxes and access to domestic reserves.

As first quarter earnings are made public, API states that the oil and gas industry’s importance to the US economic recovery should not be understated.

Aker Construction, Inc. has been awarded a contract for the installation of the new V & M seamless pipe mill in Youngstown, Ohio, US.

The latest EIC Monitor tracking new active and future projects across the global energy industry shows positive signs of growth across all sectors this quarter (Q1:January – March 2011), with the total number of new project announcements up 29% on the previous quarter.

Despite the risks, Russian oil is once more where the action is for Western firms, with a spate of high-profile deals inked in the first quarter of 2011.

The US oil and natural gas industry is working to help address the nation’s economic challenges according to the API.

Contango Oil & Gas Company announced today that it has committed to invest up to US$ 20 million over the next two years, in a joint venture that will acquire, operate, explore, and develop onshore unconventional shale operated and non-operated oil and natural gas assets.

The Kashagan oilfield is projected to be the second largest in the world after Saudi Arabia’s Ghawwar field; production in the country could reach dizzying heights when the field is properly tapped.

NuStar Logistics, L.P. and TexStar Midstream Services, LP today announced that they have signed a letter of intent to develop a new pipeline system to transport Eagle Ford Shale crude and condensate to Corpus Christi.

UK energy minister Chris Huhne comments on global oil prices during Saudi visit.

The American Petroleum Institute praises the president’s focus on natural gas as a source of clean, abundant fuel.

Iraq is planning to build three pipelines to link its key oil and gas fields to its southern export system.

The potential for Iraq to achieve its ambitious oil targets is huge, but only if the politics and infrastructure are right.