Marathon Petroleum: All set to enhance Detroit refinery

Marathon plans to expand its Detroit oil refinery and actively pursues buy out of Detroit homes in line with its $2.2B project

US Gasoline Prices Drop to Lower Levels versus Last Year

Despite seemingly high prices at the pump, gasoline costs in the United States have dropped to a level that is lower compared to last year.

Liberian oil sector wants more foreign investors

President Sirleaf of Liberia encourages influx of foreign oil investors into the country and cites importance of economic transparency.

The BP oil disaster: Learning from past mistakes

The BP oil fiasco has become one of the most unforgettable oil industry disasters.

Hawaii goes green with bio refinery plant

Hawaii envisions to complete its bio refinery facility by 2013 and eventually tail off reliance on imported fuel.

New EPA rule may hurt oil industry

API remains anxious on the cost efficiency of EPA’s new rules on pollution control despite the agency’s assurance.

Gasoline Price Increase may have reached its Highest Level at $3.92 per Gallon

Gasoline price increase for the year may have reached its peak level at $3.92 per gallon.

Iran shrugs off sanctions, says it will survive without difficulty

Iran disregards sanctions and proceeds with cutting oil exports to Greece, Spain, and other European countries.

Current oil supply scenario does not warrant oil release

The French government announced it may release oil reserves if IEA declares it. Agency remains vigilant to oil volatilities.

Obama confirms oil supply, reserves can cushion impact of Iranian sanctions

Obama steps up Iranian sanctions, enjoins countries to reduce Iranian oil imports. Adequate oil supply expected to cushion impact of sanctions.

Vantage acquires Dragonquest drillship for a hefty sum

Vantage Drilling Co. beefs up existing drill fleets, acquires Dragonquest from Valencia Drilling Corp.Cost to acquire including expenditures run up to $800M.