Homeowners who still had homes and were able to return to them, can receive up to an initial $50,000 from Pacific Gas & Electric Co. (NYSE:PCG), who owned the pipeline which exploded, killing seven people, with six still unaccounted for.
It wasn't clear whether those with demolished homes were given the same amount of money at this time.
The $50,000 comes with no strings attached, and won't have to be paid by those receiving it.
Those receiving the money are not being asked to sign off on not suing PG&E in the future either.
PG&E has also paid $3 million to the city of San Bruno to help cover the costs related to the damage from the explosion.
Showing posts with label Pipeline. Show all posts
Showing posts with label Pipeline. Show all posts
Tuesday, September 14, 2010
Friday, August 20, 2010
BP (NYSE:BP) Fuel Leaking, Could Last Days - Weeks
In the Northwest Indiana city Hammond, there is a break in a BP (NYSE:BP) pipeline that has already leaked a minimum of 1,700 gallons of petroleum into the sewers. Officials are saying it could take days or even weeks to find the source and repair it.
The first signs showed up over the weekend when area residents noticed a smell of fumes. As of yet, there are not any signs that any has reached the waterways. It's to soon to know the full extent of soil and groundwater pollution.
Sam Borris, the on sight Environmental Protection Agency coordinator said, it's to early to determine the total amount that has leaked. "We can't put a number on it, but its not a super large spill. It seems to be rather manageable and contained currently," said Borris.
The first signs showed up over the weekend when area residents noticed a smell of fumes. As of yet, there are not any signs that any has reached the waterways. It's to soon to know the full extent of soil and groundwater pollution.
Sam Borris, the on sight Environmental Protection Agency coordinator said, it's to early to determine the total amount that has leaked. "We can't put a number on it, but its not a super large spill. It seems to be rather manageable and contained currently," said Borris.
Tuesday, January 20, 2009
Marathon Oil Corp. | Gas Production 4th Quarter Down
Marathon Oil Corp. said Tuesday its oil and natural gas production in the fourth quarter was likely at the low end of its previous guidance range, in part from pipeline issues overseas and continued disruptions linked to last summer's hurricanes in the Gulf of Mexico.
The Houston-based company estimated its liquid hydrocarbon and natural gas production available for sale during October-December period was around 401,000 barrels of oil equivalent a day, at the bottom of a previous forecast between 400,000 and 440,000 barrels of oil equivalent a day.Marathon provided an overview of market conditions for the October-December period as all major oil companies prepare to report earnings for the fourth quarter.After peaking above $147 a barrel in July, oil prices spent the remainder of 2008 falling fast. When the fourth quarter began Oct. 1, crude was trading at around $100 a barrel. Three months later, on Dec. 31, it settled at $44.60. [Read the full article]
Yesterday, Marathon Oil Corporation (MRO) provided a weaker-than-expected fourth quarter 2008 interim update (covering the first two months of the quarter). While weak commodity-price realizations were built into estimates and were expected to be the primary reason for negative comparisons with previous results, Marathon's results will also be affected by upstream production shortfalls. We expect that yesterday's guidance will prompt downward earnings revisions. The company reports fourth-quarter 2008 results on February 3, 2009. Marathon expects fourth-quarter production of oil and natural gas to average 415,000 oil-equivalent barrels per day (BOE/d), which is below the company's guidance for the quarter. Approximately two-thirds of Marathon's production comes from outside the U.S. [Read the full article]
TORONTO, ONTARIO--(MARKET WIRE)--Jan 14, 2009 -- InterOil Corporation (AMEX: IOC) today announced the appointment of Mr. Wayne Andrews as Vice President of Capital Markets. Mr. Andrews joins InterOil from Raymond James and Associates Inc., where he was Managing Director of Exploration & Production Equity Research. Focusing on the oil and natural gas industry, Wayne Andrews joined Raymond James in 1996 after spending three years as natural gas analyst at Schroder Wertheim. Prior to joining Schroder's he was the Vice President and Director of Research at John S. Herold Inc, a petroleum research and consulting firm. He also spent five years as a senior geophysicist
at Sun Company and Oryx Energy. Mr. Andrews has been recognized
in the Reuters Survey of the top analysts, the StartMine Top Analyst Survey and the Wall Street Journal Best on the Street Survey. Mr. [Read the full article]
SAN ANTONIO--(BUSINESS WIRE)--Tesoro Corporation (NYSE:TSO) announced today that it expects fourth quarter 2008 earnings per share in the range of $0.60 to $0.75 per share, which includes net one-time adjustments of approximately $(0.29) per share. The one-time adjustments, using a marginal tax rate of 38%, include a $(0.41) per share after-tax accrual for doubtful accounts receivable, partially offset by an accrual reversal of $0.12 per share after-tax following a reduction in estimated costs associated with asset retirement obligations. In the course of our review of accounts receivable, we identified one material account as to which collection in the ordinary course of business was deemed to be unlikely. [Read the full article]
About Financial News USA
Financial News USA is a Next Generation Financial Communications firm focused on the distribution of market moving news. Financial News USA has developed leading edge e-publishing tools including programming proprietary RSS feeds and enabling open source press release publishing across its network. Financial News USA has been aggressively expanding its news distribution network by targeting direct feeds to financial news and data providers such as FinancialContent, Yahoo (NASDAQ: YHOO), among others. Financial News USA offers a free news feed available online (www.financialnewsusa.com) to websites and financial services looking for content and for individual investors looking to stay informed on the financial markets. Financial News USA and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.financialnewsusa.com.
Financial News USA
Email: info@financialnewsusa.com
Conclusion:
Reasons 4th quarter gas production is down for Marathon Oil Corp. is largely due to ongoing disruptions from Gulf of Mexico hurricanes and overseas pipeline challenges.
The Houston-based company estimated its liquid hydrocarbon and natural gas production available for sale during October-December period was around 401,000 barrels of oil equivalent a day, at the bottom of a previous forecast between 400,000 and 440,000 barrels of oil equivalent a day.Marathon provided an overview of market conditions for the October-December period as all major oil companies prepare to report earnings for the fourth quarter.After peaking above $147 a barrel in July, oil prices spent the remainder of 2008 falling fast. When the fourth quarter began Oct. 1, crude was trading at around $100 a barrel. Three months later, on Dec. 31, it settled at $44.60. [Read the full article]
Yesterday, Marathon Oil Corporation (MRO) provided a weaker-than-expected fourth quarter 2008 interim update (covering the first two months of the quarter). While weak commodity-price realizations were built into estimates and were expected to be the primary reason for negative comparisons with previous results, Marathon's results will also be affected by upstream production shortfalls. We expect that yesterday's guidance will prompt downward earnings revisions. The company reports fourth-quarter 2008 results on February 3, 2009. Marathon expects fourth-quarter production of oil and natural gas to average 415,000 oil-equivalent barrels per day (BOE/d), which is below the company's guidance for the quarter. Approximately two-thirds of Marathon's production comes from outside the U.S. [Read the full article]
TORONTO, ONTARIO--(MARKET WIRE)--Jan 14, 2009 -- InterOil Corporation (AMEX: IOC) today announced the appointment of Mr. Wayne Andrews as Vice President of Capital Markets. Mr. Andrews joins InterOil from Raymond James and Associates Inc., where he was Managing Director of Exploration & Production Equity Research. Focusing on the oil and natural gas industry, Wayne Andrews joined Raymond James in 1996 after spending three years as natural gas analyst at Schroder Wertheim. Prior to joining Schroder's he was the Vice President and Director of Research at John S. Herold Inc, a petroleum research and consulting firm. He also spent five years as a senior geophysicist
at Sun Company and Oryx Energy. Mr. Andrews has been recognized
in the Reuters Survey of the top analysts, the StartMine Top Analyst Survey and the Wall Street Journal Best on the Street Survey. Mr. [Read the full article]
SAN ANTONIO--(BUSINESS WIRE)--Tesoro Corporation (NYSE:TSO) announced today that it expects fourth quarter 2008 earnings per share in the range of $0.60 to $0.75 per share, which includes net one-time adjustments of approximately $(0.29) per share. The one-time adjustments, using a marginal tax rate of 38%, include a $(0.41) per share after-tax accrual for doubtful accounts receivable, partially offset by an accrual reversal of $0.12 per share after-tax following a reduction in estimated costs associated with asset retirement obligations. In the course of our review of accounts receivable, we identified one material account as to which collection in the ordinary course of business was deemed to be unlikely. [Read the full article]
About Financial News USA
Financial News USA is a Next Generation Financial Communications firm focused on the distribution of market moving news. Financial News USA has developed leading edge e-publishing tools including programming proprietary RSS feeds and enabling open source press release publishing across its network. Financial News USA has been aggressively expanding its news distribution network by targeting direct feeds to financial news and data providers such as FinancialContent, Yahoo (NASDAQ: YHOO), among others. Financial News USA offers a free news feed available online (www.financialnewsusa.com) to websites and financial services looking for content and for individual investors looking to stay informed on the financial markets. Financial News USA and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.financialnewsusa.com.
Financial News USA
Email: info@financialnewsusa.com
Conclusion:
Reasons 4th quarter gas production is down for Marathon Oil Corp. is largely due to ongoing disruptions from Gulf of Mexico hurricanes and overseas pipeline challenges.
Saturday, April 19, 2008
Shell Says Nigerian Pipeline Attack will have Minimal Impact on Oil Production
Shell said the recent attack on an oil supply pipeline in southern Nigeria won't have too much impact on oil production, after it found a leak on a pipeline connected to teh Bonny exports terminal - the largest in Nigeria.
"We discovered there was a major leak on the Greater Port Harcourt swamp pipeline. The leak appears to have been caused by explosives. We have isolated the line preparatory to repairs," Shell spokesman in Lagos Tony Okonedo told AFP. "Small quantities of oil have been shut in to allow for necessary repairs."
Shell is the largest oil exporter in Nigeria, accounting for approximately half the 2.1 million barrels a day output.
The company's pipelines have been under attack frequently over the last couple years, with a terrorist group named Movement for the Emancipation of the Niger Delta (MEND) claiming responsibility.
Shell said oil production has been cut back slightly as a result of the attack, as repairs are being made.
Oil surged to a new record high of $117 a barrel on Friday.
"We discovered there was a major leak on the Greater Port Harcourt swamp pipeline. The leak appears to have been caused by explosives. We have isolated the line preparatory to repairs," Shell spokesman in Lagos Tony Okonedo told AFP. "Small quantities of oil have been shut in to allow for necessary repairs."
Shell is the largest oil exporter in Nigeria, accounting for approximately half the 2.1 million barrels a day output.
The company's pipelines have been under attack frequently over the last couple years, with a terrorist group named Movement for the Emancipation of the Niger Delta (MEND) claiming responsibility.
Shell said oil production has been cut back slightly as a result of the attack, as repairs are being made.
Oil surged to a new record high of $117 a barrel on Friday.
Friday, March 28, 2008
Oil News around the Internet
Weekend roundup for oil news
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Oil falls after Iraq restores pipeline flows
Oil fell $2 on Friday after Iraq swiftly restarted a crude pipeline system that had been hit by a bomb attack the day before.
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Research and Markets: Learn About ATP Oil Gas Corporations Upstream Oil And Gas Assets Across The Globe
Research and Markets has announced the addition of "ATP Oil & Gas Corporation Oil and Gas Assets Report" to their offering.
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Oil down on end of week profit taking, restored Iraq oil flows, US eco worries
Oil extended earlier falls as end of week profit taking gained momentum amid a stronger dollar, news of increased oil flows from Nigeria, restored flows in Iraq and renewed worries over the US economic slowdown.
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Chavez against continued oil price rise
Venezuela is not interested in seeing oil prices rise further and is pushing to stabilize the market, President Hugo Chavez said Thursday following a visit to the site of a Brazilian refinery being built to process Venezuelan crude.
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US Oil and Gas Rig Count Up 24 This Week
The number of rigs actively exploring for oil and natural gas in the United States rose by 24 this week to 1,808.
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Sector Roundup: Oil Refiners Climb, Airline Shares Slip on Fuel Prices, Flight Cancellations
Shares of oil refiners rose Friday as oil prices deflated and a Soleil Securities analyst reiterated a "Buy" rating on Frontier Oil Corp. citing of a positive view on its North American assets.
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Meridian Resource to Present At IPAA Oil and Gas Investment Symposium
The Meridian Resource Corporation (NYSE:TMR) announced today that Chairman and CEO Joe Reeves will update investors and analysts on its current operations and future strategy at the IPAA Oil and Gas Investment Symposium in New York City on Monday, April 7, 2008 at 4:10 p.m. Eastern time.
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=====
Oil falls after Iraq restores pipeline flows
Oil fell $2 on Friday after Iraq swiftly restarted a crude pipeline system that had been hit by a bomb attack the day before.
=====
Research and Markets: Learn About ATP Oil Gas Corporations Upstream Oil And Gas Assets Across The Globe
Research and Markets has announced the addition of "ATP Oil & Gas Corporation Oil and Gas Assets Report" to their offering.
=====
Oil down on end of week profit taking, restored Iraq oil flows, US eco worries
Oil extended earlier falls as end of week profit taking gained momentum amid a stronger dollar, news of increased oil flows from Nigeria, restored flows in Iraq and renewed worries over the US economic slowdown.
=====
Chavez against continued oil price rise
Venezuela is not interested in seeing oil prices rise further and is pushing to stabilize the market, President Hugo Chavez said Thursday following a visit to the site of a Brazilian refinery being built to process Venezuelan crude.
=====
US Oil and Gas Rig Count Up 24 This Week
The number of rigs actively exploring for oil and natural gas in the United States rose by 24 this week to 1,808.
=====
Sector Roundup: Oil Refiners Climb, Airline Shares Slip on Fuel Prices, Flight Cancellations
Shares of oil refiners rose Friday as oil prices deflated and a Soleil Securities analyst reiterated a "Buy" rating on Frontier Oil Corp. citing of a positive view on its North American assets.
=====
Meridian Resource to Present At IPAA Oil and Gas Investment Symposium
The Meridian Resource Corporation (NYSE:TMR) announced today that Chairman and CEO Joe Reeves will update investors and analysts on its current operations and future strategy at the IPAA Oil and Gas Investment Symposium in New York City on Monday, April 7, 2008 at 4:10 p.m. Eastern time.
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