Congress probably will consider loosening restrictions on U.S. oil exports, though a push by industry to sell more crude overseas will be resisted by members concerned about the impact on gasoline prices, lawmakers said.
The U.S. oil industry, riding a domestic energy boom, is preparing to challenge restrictions on crude exports, possibly by arguing that limits designed to keep petroleum in America may violate international trade rules.
Occidental Petroleum Corp.’s plan to separate its $16 billion oil and natural gas business in California as part of a restructuring effort may have hit a snag: some shareholders aren’t that interested.
The chances of TransCanada Corp.’s Keystone XL pipeline getting built are dwindling, Continental Resources Inc.’s Chief Executive Officer Harold Hamm said today at Bloomberg Link Oil & Gas Conference in Houston.
Continental Resources Inc., the largest owner of drilling leases in the U.S. Bakken formation, fell more than 6 percent after Global Hunter Securities LLC said the stock probably won’t extend this year’s rally.
Continental Resources Inc. , the oil and natural gas company controlled by Oklahoma billionaire Harold Hamm , boosted planned spending 53 percent to $1.3 billion to accelerate drilling in five states this year.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.