BUSINESS
September 8, 2012 | By Andrew Maykuth, Inquirer Staff Writer
Who knew that the economic solution for the region's beleaguered oil refineries would arrive on a slow train from North Dakota? Delta Air Lines, the new owner of the Trainer refinery that is scheduled to reopen later this month, on Thursday became the third fuel producer in the Philadelphia area to announce plans to bring in crude oil by rail from the Bakken oil field in the upper Midwest. Edward Bastian, the airline's president, told an investor conference in New York that Delta plans to replace some imported oil at Trainer with domestic crude brought in by rail.
NEWS
March 26, 1989 | By Larry King, Inquirer Staff Writer
Like fat metal soldiers, they stand in tidy rows on a long-abandoned loading dock in Bridesburg. For months, the bright yellow barrels have been silent lords of a scruffy industrial lot near the Delaware River. There are hundreds of them, all shielded from mischief by an eight-foot chain-link fence bearing three shiny strands of barbed wire. To the west sits a green mobile home, where a solitary guard posts a 24- hour vigil. When not making rounds, the guard inhabits a room of spare furnishing, fending off boredom with a portable black-and-white TV. Years ago, before fire reduced it to ruins, this lot was home to a small trucking terminal.
BUSINESS
May 25, 2012 | By Mark Shenk
Oil tumbled below $90 a barrel in New York Wednesday, erasing gains through 2011, as U.S. supplies increased to a 22-year high and European leaders met to discuss the euro region's debt crisis. Futures fell 2.1 percent after the Energy Department said stockpiles rose 883,000 barrels to 382.5 million barrels last week. The European Union summit is the 18th since Greece was shaken by debt and the first since an anti-austerity campaign carried Francois Hollande to France's presidency.
NEWS
December 8, 1990 | By Anthony S. Twyman, Daily News Staff Writer
Mayor Goode has extinguished an attempt to once again allow Italian Market merchants to burn wood in barrels to keep warm, but City Councilman James Tayoun has vowed that he won't let the decades-old practice go up in smoke. Two weeks ago Council approved a Tayoun-sponsored ordinance to allow fire- barrels to continue burning on Ninth Street between Wharton and Christian, from Oct. 1 to April 30. The city banned the practice last December. Since then many merchants have disregarded the ban. Goode vetoed Tayoun's ordinance Thursday, saying the barrels pose a fire and pollution hazard and violated state and federal fire codes.
NEWS
June 13, 1987 | By Dwight Ott, Inquirer Staff Writer (The Associated Press contributed to this article.)
Thousands of barrels of radium-contaminated dirt will remain in North Jersey until a three-judge panel decides which court has jurisdiction over a controversial plan to move the barrels to a wildlife preserve in Ocean County. That decision could come as early as Monday, when a three-judge appellate panel begins its review of the case. Appellate Judge Melvin P. Antell's decision yesterday to call for a full review was in response to a request by the state Department of Environmental Protection.
BUSINESS
August 3, 2000 | FROM INQUIRER WIRE SERVICES
Crude-oil futures were higher in trading yesterday after Department of Energy figures confirmed a steep decline in U.S. supplies due to a drop-off in imports. Inventory levels are at their lowest since January, when prices for crude oil were significantly higher, said Tim Evans, an energy analyst with IFR Pegasus. Prices topped out at $34 a barrel in March, a nine-year high. September crude climbed 47 cents to $28.26 a barrel yesterday on the New York Mercantile Exchange. After the close of regular trading Tuesday, the American Petroleum Institute reported that U.S. crude oil supplies had plummeted by 9 million barrels, to 284 million barrels, from the previous week.
BUSINESS
September 12, 2007 | FROM INQUIRER WIRE SERVICES
OPEC agreed yesterday to boost oil production for the first time in more than a year, concerned that near-record prices might damage a world economy already suffering from weakness in the U.S. housing industry. Saudi Arabia, the largest member of the Organization of Petroleum Exporting Countries, led the group to add 500,000 barrels a day to its current production level, starting Nov. 1. The new target will be 27.2 million barrels a day, Kuwait's acting oil minister, Mohammed Abdullah al-Aleem, said in an interview.
NEWS
December 2, 2000
Friday's editorial gave the wrong statistic for Alaska's oil exports in 1999. It was 28 million barrels.
BUSINESS
August 16, 1990 | From Inquirer Wire Services
Saudi Arabia, the world's largest oil exporter, is quietly increasing production to make up for the boycott of crude oil from Iraq and occupied Kuwait, according to U.S. oil analysts. Analysts said Saudi output rose 250,000 to 400,000 barrels per day after U.S. forces landed last week and that within a month it could total up to 2 million barrels a day more than before the invasion on Aug. 2. Saudi output in July averaged 5.45 million barrels daily. The Saudis "are increasing output, albeit slowly," said Foster Mellen, of Energy Security Analysis Inc., of Washington.