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Due to the great surge in American production of oil, natural gas, and natural gas liquids since 2008, those products have been cheaper in the North American market than worldwide, giving American refiners a major cost advantage. [17] The discount on US crude is partially attributed to the long-standing federal ban on exports of American crude oil.
But November's employment gains were revised up from 212,000 to 261,000, and December's from 256,000 to 307,000, booming additions that partly coincided with a burst of small business optimism ...
When the Bureau of Labor Statistics releases the November jobs report at 8:30 am ET on Friday, it is wholly anticipated that the data will reflect a sharp rebound — a reset, if you will — from ...
The report leaves the Federal Reserve on course to cut its key interest rate by a quarter percentage point again this month, as most economists have expected, amid a generally cooling labor market ...
In 1979, Shell purchased Belridge Oil Company for $3.65 billion, which at the time was called the "biggest cash takeover in American history" by US government sources. [4] In 1997, Shell and Texaco entered into two refining/marketing joint ventures. One combined their Midwestern and Western operations and was known as Equilon.
Federal leases in green; areas proposed open for leasing 2007-2012 in grey (Minerals Management Service) From 1954 to 2023, federal offshore tracts produced 21.4 billion barrels (3.4 × 10 9 m 3) of oil and 195 trillion cubic feet (5.5 × 10 12 m 3) of natural gas.
Markets were rocked Friday after the December employment report came in much stronger than expected. The economy added 256,000 jobs in December, well above the average economist estimate of ...
Most oil is initially carried off the site by tanker truck. The truck may take the oil directly to a nearby refinery. In 2014, 2.6 percent of oil arrived at refineries by truck, up from 2.6 percent in 2005. If the refinery is not close, the tanker truck will take the crude oil to a pipeline, barge, or railroad for long-distance transport.