December 22, 2011 |
U.S. fuel demand in November dropped, pulled lower by a decline in gasoline consumption, the American Petroleum Institute said. Total deliveries of petroleum products, a measure of demand, declined 1.1% to 18.8 million barrels a day last month from a year earlier, the industry-funded group said today in a report. Year-to-date consumption has averaged 19 million barrels a day, down 0.7% from the same period in 2010. Gasoline demand dropped 1.8% to 8.65 million barrels a day last month compared with the same month in 2010.
May 14, 2010 |
In an opening skirmish over how much money companies should be forced to pay for oil spill damage, Democratic legislators Thursday failed to speed through legislation to raise liability caps from $75 million to $10 billion. Their effort was thwarted by Sen. Lisa Murkowski (R-Alaska), a key oil industry ally who said that the bill would end up empowering only the "biggest of the big oil" companies to drill for American's offshore resources. "This has been named 'The Big Oil Bailout Prevention Liability Act,' " said Murkowski, who objected to taking up the measure immediately.
December 15, 2009 |
Exxon Mobil Corp.'s purchase of a Texas natural gas producer for $29 billion could reshape the U.S. energy landscape, setting the stage for the fuel to challenge coal in the nation's electrical grid and helping to alleviate American dependence on foreign oil. The wager by the nation's largest oil company positions Exxon Mobil to thrive in a world where petroleum, its key product, is getting tougher to come by. The deal is a "game-changer" that...
July 19, 2008 |
U.S. fuel consumption fell 3% in the first half of 2008, the biggest decline for the period in 17 years, as high prices and a slowing economy curbed demand, an oil industry report showed. Deliveries of petroleum products declined to an average 20.08 million barrels a day through June, the American Petroleum Institute said. Gasoline deliveries fell 1.7%, the first "significant" decline in 17 years. Fuel demand fell as prices for crude oil, gasoline and heating oil futures reached records.
November 17, 2007 |
The American Petroleum Institute on Friday rescinded its offer to give $5 million to the Smithsonian for a major exhibit hall and website on the world's oceans, ending a controversy destined for the institution's Board of Regents meeting on Monday. The decision is a setback for Cristian Samper, the acting secretary of the Smithsonian who has said the ocean exhibition is "very close to my heart."
November 13, 1998 |
Atlantic Richfield Co. Chairman and Chief Executive Mike R. Bowlin was elected chairman of the American Petroleum Institute, replacing Amoco CEO Fuller, whose company is merging with British Petroleum. "Unless we want to change the name of this organization to the Anglo-American Petroleum Institute--which I doubt--I feel obliged to give up the chair," said Fuller, who will become co-chairman of BP Amoco after the merger, which is expected to be complete by year's end.