Retail gasoline prices have dropped by a nickel across Texas this week to settle at $2.38 per gallon.
Newer cars aren’t supposed to burn oil, but Consumer Reports magazine found that some engines mainly from Audi, BMW and Subaru force their owners to add a quart as often as once a month.
Anadarko Petroleum Corp. (APC) on Monday reported a loss of $3.27 billion in its first quarter.
AAA Texas reported Thursday that Dallas and Fort Worth hold the spot for most expensive gasoline. Drivers in Beaumont boast the cheapest.
Almost five years after the Deepwater Horizon oil spill, the Obama administration has proposed new regulations aimed at strengthening oversight of offshore oil drilling equipment and ensuring that out-of-control wells can be sealed in an emergency.
Exxon Mobil CEO Rex Tillerson expects the price of oil to remain low over the next two years because of ample global supplies and relatively weak economic growth.
The U.S. has so much crude that it is running out of places to put it, and that could drive oil and gasoline prices even lower in the coming months.
As many as 10 trains weekly have been coming into Texas carrying a million gallons or more of Northern Plains crude oil that’s been involved in fiery derailments in the U.S. and Canada.
The White House sent notice of the veto to the Senate on Tuesday, shortly after the bill was received at the White House. It’s the third veto of Obama’s presidency.
The Republican-controlled Congress approved a bill Wednesday to construct the Keystone XL oil pipeline, setting up a confrontation with President Barack Obama, who has threatened to veto the measure.
With the recent dip in oil prices, the Environmental Protection Agency wants the State Department to “revisit” how much of a toll the Keystone XL oil pipeline would have on global warming.
The company said it earned $6.57 billion in the quarter, the lowest since the first quarter of 2010, on revenue of $87.28 billion. Last year Exxon earned $8.35 billion on revenue of $110.86 billion.