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Welcome to PetroStrategies

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the oil and gas industry

Our goal is to provide information on the economics, processes and driving forces in the oil and gas industry for consumers, industry professionals and students.

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Report: More needed to improve oil train safety - With increasing numbers of volatile crude oil trains moving through Seattle's "antiquated" downtown rail tunnel, city emergency planners say more must be done to lower the risk of an oil train accident and improve the city's ability to respond. About one or two mile-long trains each day carry crude oil from the Bakken region of North Dakota, Montana and Canada through the city of about 650,000 residents. Oil trains currently enter Washington state near Spokane, and travel through the Tri-Cities and along the Columbia River before traversing Seattle to refineries to the north. In the state, as many as 17 trains carry about one million gallons of crude oil a week through several counties, including Spokane, Benton and Clark, BNSF reported to the state in July. - 9/17/14

Study: Leaky wells, not fracking, taint water - The study finds that eight hydraulically fractured wells in the states of Pennsylvania and Texas leaked gas because the piping and cement seals in the wells themselves weren't working properly. - 9/15/14

EIA: Despite decline in some regions, world oil consumption still seen rising - The largest potential for growth in demand for liquid fuels lies in the emerging economies of China, India, and countries in the Middle East, according to EIA's recently released International Energy Outlook 2014. In the Reference case projection, world liquid fuels consumption increases 38% from 87 MMB/D in 2010 to 119 MMB/D in 2040. China, India, and other developing countries in Asia account for 72% of the net world increase in liquid fuels consumption, with Middle East consumers accounting for another 13%. Most liquid fuel demand is for industrial uses and transportation. - 9/12/14

U.S. natural gas production rising - U.S. gas production increased 0.4 Bcf/D in August to 68.9 Bcf/D, which was the highest monthly average on record. - 9/11/14 

Industry to seek changes in 'fracking' rules - Supporters of high-volume oil and gas extraction said Wednesday that they'll seek dozens of changes in proposed rules to govern the practice in Illinois that appear to violate a hard-won compromise between industry and environmentalists. - 9/10/14

North Dakota regulator outlines rail safety plan - A North Dakota regulator outlined details Thursday of her proposal for a state-run rail safety program, which calls for adding three employees to help bolster federal oversight of the state's busy railroads. The Public Service Commission says rail traffic increased in North Dakota by 233 percent between 2000 and 2012 due to the state's oil boom. In the last five years, the commission says, the state has seen 56 track-related accidents and 22 equipment-related accidents that have resulted in more than $30 million worth of damage. - 8/22/14

Mexico opens oil and gas to foreign, private firms - President Enrique Pena Nieto signed into law on Monday new rules governing a historic opening of Mexico's state-run oil, gas and electricity industries to foreign and private companies. The president also promised to start putting in place regulatory and oversight agencies to implement the new rules by the end of August. 8/12/14

New safety rules proposed to curb oil train fires Thousands of older rail tank cars that carry crude oil would be phased out within two years under regulations proposed Wednesday in response to a series of fiery train crashes over the past year. Accident investigators have complained for decades that the cars are too easily punctured or ruptured, spilling their contents, when derailed. The regulations also apply only to trains of 20 or more cars, which would include most oil shipments. The proposal also makes mandatory a 40-mph speed limit through urban areas that freight railroads had voluntarily agreed to earlier this year. Transportation Secretary Anthony Foxx also said the government's testing of crude oil from the Bakken region of North Dakota and Montana shows the oil is on the high end of a range of volatility compared with other crude oils, meaning it's more likely to ignite if spilled. - 7/23/14

PetroStrategies Developments

Gasoline Toolkit updated with July 2014 data. See Gasoline Toolkit.

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