Oil and Gas

4:17am

Sat May 26, 2012
Latin America

From Canada Down To Argentina, The Oil Flows

Originally published on Sat May 26, 2012 7:12 pm

Like countries throughout the Americas, Argentina is feverishly drilling for oil and gas. Workers are shown here at a derrick in the desert in southern Argentina.
Juan Forero for NPR

As the wind whips across the scrub grass in southern Argentina, a crane unloads huge bags of artificial sand for oil workers preparing for the hydraulic fracturing, or fracking, of a well.

Water mixed with chemicals and tiny ceramic beads are then blasted underground at high pressure. This mixture helps create fissures, allowing oil and natural gas to flow.

Energy analysts believe there are billions of barrels of oil and gas buried in a desert-like patch in Patagonia.

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1:26am

Wed May 23, 2012
Middle East

Iran In Tough Spot As Sanctions Take Economic Toll

Originally published on Wed May 23, 2012 2:24 pm

If sanctions continue, Iran's tankers could fill up with surplus oil and leave the country with no place to store its continued production.
Kamran Jebreili AP

Sanctions have not often worked to get governments to change their behavior, but Iran may prove to be an exception. The country depends on income from oil sales, and the oil sector is highly vulnerable to sanctions.

The United States has stopped buying Iranian oil, and the European Union is set to do so at the end of next month. There are sanctions on Iran's central bank and punishments for companies that help Iran ship its oil.

Jamie Webster, an oil market analyst at PFC Energy, says Iran's oil exports — normally about 2.5 million barrels a day — are in serious jeopardy.

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5:59pm

Tue May 22, 2012
Business

Noble Energy To Invest Billions In Weld County Oil And Gas Boom

Governor John Hickenlooper and Noble CEO Chuck Davidson officially open the company's Northern Colorado Operations Center.
Nathan Heffel KUNC

Houston based gas firm Noble Energy has formally opened its Northern Colorado Headquarters. The building signals the latest expansion amid the drilling boom taking place across the region, and another financial windfall for Weld County.

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10:05am

Tue May 22, 2012
Krulwich Wonders...

Why Is That Undulating Blob Of Flesh Inspecting My Oil Drill?

Originally published on Tue May 22, 2012 12:40 pm

YouTube

Every so often, the Internet astonishes. Things I wouldn't, couldn't, shouldn't expect, sometimes happen. Take this, for example:

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1:26pm

Fri May 18, 2012
Energy

Pipeline Flip Turns U.S. Oil World 'Upside Down'

Originally published on Fri May 18, 2012 4:34 pm

The U.S. oil boom has created a glut of crude in Cushing, Okla., a major oil storage hub. This sign dubs the city the "Pipeline Crossroads of the World."
Jeff Brady NPR

For years, Cushing, Okla., has been on the receiving end of a 500-mile pipeline funneling oil from the Gulf of Mexico to the American heartland.

Starting this weekend, that pipeline will start moving crude in the other direction. That flow reversal could soon have implications at gas pumps around the country.

"For 40 years, crude oil flowed north," says Philip Verleger, a visiting fellow at the Peterson Institute for International Economics. "Today, oil flows south. It's as if we turned the world upside down."

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