Oil

Conoco Phillips plans to expand on NPR-A discoveries

Conoco Phillips expects to return to the National Petroleum Reserve-Alaska this winter, with plans shaping up for two wells in a federal exploration unit created this year. Conoco will use both wells to look for new hydrocarbon accumulations to expand on previous discoveries.

Government reaches agreement on polar bear habitat

The federal government will designate "critical habitat" for polar bears in the ocean off Alaska's coast, a decision that could add restrictions to future offshore petroleum exploration or drilling.

More polar bear news

Heavy oil flows from cold Ugnu in test, BP says

BP Exploration (Alaska) Inc. achieved success in an initial test for production of heavy oil from the Ugnu formation on the North Slope, according to a company spokesman. The test well succeeded in bringing sand and oil to the surface with a peak rate of about 120 barrels per day.

Study focuses on aging oil, gas infrastructure

A long-awaited study of the risks posed by Alaska's aging oil and gas infrastructure is beginning this fall. The study was an outgrowth of the spills, leaks and corrosion discovered on the North Slope in the past few years. Last year, the Legislature approved $5 million for it.

Oil infrastructure meeting agenda

Oil prices drive industry employment

When North Slope oil production peaked 20 years ago, around 8,500 people worked in the Alaska oil industry. With production today down 70 percent from those highs, the oil industry now employs around 12,600 people in Alaska, a record for the state.

High-pressure BP gas line blows at Prudhoe Bay field

BP and state officials are investigating a series of mishaps at the Prudhoe Bay oil field this week, including the dramatic rupture of a high-pressure natural gas pipeline.

Natural gas from Alpine Field finally comes to Nuiqsut

Villagers in the North Slope community of Nuiqsut could heat their homes with natural gas this winter, more than a decade after securing a supply from a nearby oil field.

Oil price increase breaks record

Oil prices briefly spiked more than $25 a barrel Monday and ended the day up more than $16, shattering the record for the biggest one-day gain as unease about the government's $700 billion bailout plan pummeled the dollar.

Conoco Phillips to replace 4 miles of Kuparuk pipe

Conoco Phillips plans to replace more than four miles of pipe in the Kuparuk River oil field next year so the company can monitor corrosion better.

Exxon plaintiffs could get tax breaks

The U.S. Senate is closer to passing tax breaks that will allow plaintiffs in the Exxon Valdez case to average out their awards over three years rather than taking a one-time hit from the IRS.

Alaska oil price slips below $100 a barrel

Alaska oil prices dropped below $100 a barrel Thursday for the first time in six months. The closing price on West Coast open markets for North Slope crude fell to $99.10 a barrel, down $2.11 for the day.

Refineries blamed for sluggish drop in Alaska gasoline prices

An investigation into why Alaska's gasoline prices are falling more slowly than those in the Lower 48 is showing that refineries -- not gas stations -- have kept prices high, according to the state attorney leading the investigation.

Anchorage gas prices Wednesday

North Slope production drops 15 percent in August

North Slope oil production averaged 552,114 barrels per day in August, down 15 percent from July, a drop primarily due to planned shutdowns at the Alpine field and on the trans-Alaska oil pipeline.

RCA must rule soon on tiered gas contracts

The 13-day public hearing ended in mid-August and the commissioners are weighing the evidence. But the question of whether state regulators will accept or reject Enstar Natural Gas Co.'s new gas supply contracts with Marathon Oil Co. and Conoco Phillips Alaska will surely hit the pocketbooks of most people in Southcentral by setting a precedent for utility gas pricing for years to come.

Oil's plunging in price, so why isn't gasoline?

Oil prices have fallen more than 26 percent from their July 11 record high of $147.27 a barrel, and all evidence points to further declines. The price Americans pay at the gas pump has fallen by a more modest 12 percent at Friday's national average of $3.67 a gallon.

Federal agency postpones decision on Yukon Flats swap

A federal agency is delaying a decision on a controversial land swap within the Yukon Flats National Wildlife Refuge to allow more time for land appraisals to be completed.

Aurora Gas restarts Cook Inlet drilling program

It was October 2006 when Aurora Gas put its AWS No. 1 drilling rig into mothballs after several active years of drilling around Cook Inlet. Now, after nearly two years, the company again has begun development drilling in its cluster of gas fields on the inlet's west side, the company said.

Heavy oil project begins tests for viability

Fingers are crossed at BP as the company's heavy oil project in the Milne Point field moves into its first test phase. The company is lowering a pump into a well designed to extract oil with the consistency of chocolate syrup from the Ugnu formation, a big but shallow oil reservoir just 4,200 feet below the surface.

Exxon Mobil ships drilling gear to Point Thomson

Exxon Mobil Corp. managers say the company has completed an operation to barge equipment and supplies to the remote Point Thomson oil and gas field in preparation for a planned drilling campaign this winter.

Fairbanks pumps dry after North Pole refinery slowdown

At least one Fairbanks-area gasoline station was shut down this week after an operations slowdown at Flint Hills Resources' North Pole refinery.

Justices decline to decide on Exxon interest payment

Once again, plaintiffs who have been waiting for a payout in the Exxon Valdez lawsuit will have to continue their wait.