News

OPEC-14 agree to reduce production to boost oil prices

OPEC set a new OPEC-14 production reduction target yesterday in Vienna of 32.5 MMb/d effective 1 January 2017 to accelerate the reduction in the world oil and try to rebalance of the oil market.

Oil Spills Into North Saskatchewan River After Pipeline Leak

Oil from a Husky Energy pipeline spilled into the North Saskatchewan River on Thursday morning upstream from Maidstone, Sask.

Oil Spill at NL Hydro Plant on Burin Peninsula, Canada

An investigation is continuing into the cause of an oil spill that occurred at Newfoundland and Labrador Hydro’s Paradise River hydroelectric generating plant on the Burin Peninsula.

Oil Prices Rise on Expected Decline in U.S. Crude Stocks

Members of Organization of the Petroleum Exporting Countries (OPEC) met two weeks and heeded consumers’ calls increase their overall oil production.

Obama Administration Plans to Issue Final Regulations to Require Operators to Use Leak-Detection Systems

The PIPES Act of 2016 reauthorizes the Pipeline and Hazardous Materials Safety Administration (PHMSA) from the fiscal year 2016 to the fiscal year 2019.