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Corpus Christi Crude Shipments Reach All Time High
“Rigzone” reports that in June, the Port of Corpus Christi, Texas, shipped a record 560,000 barrels of oil per day (bopd), a new record. This is a 61% increase since June of last year. Since January of 2014, crude shipments out of Corpus have been increasing about 50,000 bopd each month. These dramatic increases are… Read More
Texas Petroleum Index Reaches an All-Time High
The Texas Petroleum Index (TPI) established a new high in June, according to an article in “Rigzone”. The TPI is a composite based on a comprehensive set of indicators including oil price, rig count, drilling permits, well completions, oil and gas production volumes, and other factors. The June, 2014, index of 308.4 is 7.3% higher… Read More
New Rules for Crude Transport by Rail Proposed
“Rigzone” reports that yesterday the U. S. Department of Transportation proposed an overhaul of safety standards for the shipment of crude oil via rail. The new regulations have been prompted by safety concerns and the increasing volume of crude moving by rail. Over the last 18 months, there have been a dozen derailments, six of… Read More
Crude Prices Rise while Natural Gas Prices Fall
The domestic price of crude oil closed today above $104 per barrel for the first time since July 3, according to “Rigzone”. This reflects an increase of over $1 per barrel for three of the last four trading days. August deliveries rose $1.46 to $104.59, a 4.6 percent increase over the last 4 trading days… Read More
Denton, TX, Rejects Fracking Ban
At a meeting attended by an estimated 500 people, with 100 scheduled speakers, the Denton city council rejected a permanent fracking ban by a vote of 5-2 according to “Rigzone”. Almost 2,000 proponents had signed a petition advocating the ban. Industry groups (including the Texas Oil and Gas Association), regulators (including the Texas Railroad Commission)… Read More
