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ExxonMobil Oil Pipeline Ruptures, Leaks 1,000 Barrels Into Yellowstone River

July 4, 2011 Comments off

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An ExxonMobil oil pipeline that ruptured 10 miles west of Billings, Mont., leaked nearly 1,000 barrels of crude oil into the Yellowstone River.

Exxon detected the leak on Saturday morning following a loss of pressure on pipeline and within seven minutes the pipeline pumps were shut down, the company said in a press release.

That did not, however, prevent nearly 42,000 gallons of crude oil to be spewed into the famed river.

The 12-inch crude-oil pipeline runs from the town of Silver Tip to the three refineries at Billings, ExxonMobil said.

“We had no indications that Read more…

Russia emerges as unlikely energy safe haven

March 14, 2011 Comments off

AFP – Turning the page on former disappointments, the world’s energy giants are flocking to Russia, whose vast resource riches look even more tempting at a time of turbulence in the Middle East.

In just a matter of weeks, the country has put the finishing touches on a clutch of joint exploration and share-swap agreements whose negotiation seemed impossible just a few years ago.

But with natural gas production stagnant and new oil wealth resting in hard-to-reach reserves, Russia is swinging the door open to Western companies, their presence now seen as essential to the country’s economic growth.

“Russia is today the go-to place for Read more…