Oil and Gas

June's imported oil level highest in 2009

Capital Solutions Bancorp — Mon, 20 Jul 2009 00:00:00 -0400

Despite the recent introduction of the Natural Gas Act in the Senate, the level of imported oil grew by 13 percent in June, announced energy expert T. Boone Pickens last week.

The latest figures from the U.S. Department of Energy's Energy Information Administration (EIA) show that 64 percent of America's oil - adding up to 354 million barrels - was imported by foreign oil providers in June, said Pickens.

For the overseas oil business, financing from the United States reached $24.7 billion in June, marking a 13 percent increase from May's $21.6 billion.

Middle East summit aims to protect energy infrastructure, ensure operation of oil and gas sector

Capital Solutions Bancorp — Mon, 13 Jul 2009 00:00:00 -0400

For oil and gas companies, business financing may be the biggest day-to-day concern, but not the most threatening - security risks to the energy sector continually endanger the existence and financial health of oil and gas companies across the globe.

The International Quality & Productivity Center recently announced the 4th Annual Security for Energy Infrastructure Summit, held October 18- 21 in Abu Dhabi, which will aim to find ways to safeguard the energy sector's critical infrastructure and ensure its continued operational well-being.

Palin successor says natural gas pipeline is 'top priority'

Capital Solutions Bancorp — Wed, 08 Jul 2009 00:00:00 -0400

Following the sudden resignation of Alaska Governor Sarah Palin last week, many have been speculating about the future of the natural gas pipeline project she introduced.

Her successor, Lieutenant Governor Sean Parnell, cleared up any doubts with by announcing this week that the North Slope pipeline will be his "top priority" when he takes office on July 26.

Palin was known for the Alaska Gasline Initiative Act, passed shortly after she assumed office in what she called "a massive bi-partisan victory."

Latin America proceeding with investments in alternative energy

Capital Solutions Bancorp — Wed, 24 Jun 2009 00:00:00 -0400

Record-high oil prices last summer and substantially lower levels earlier this year have had the oil and gas services industry on somewhat of a roller coaster.

When oil prices were off their current levels - now hovering near $67 per barrel - many companies in the industry were unwilling to make new investments in exploration.

Dallas Fed releases June market update

Capital Solutions Bancorp — Wed, 24 Jun 2009 00:00:00 -0400

In an effort to keep a pulse on the economic activity in and around Texas, the Federal Reserve Bank of Dallas has issued a June update on the local economy and prominent industries.

According to the Dallas Fed, the Houston economy peaked last November and then declining oil prices helped push the region into the recession that engulfed the nation.

Based on recent economic data, the group says it sees "few signs that the rate of decline in the local economy is slowing."