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Oil

NEWS
May 4, 2016
The U.S. Coast Guard on Tuesday said it was unable to determine the source of an oil sheen spotted in the Schuylkill at Walnut Street on Monday. Petty Officer 3rd class David Micallef, a Coast Guard spokesman, said the oil sheen had "naturally dissipated" by Tuesday afternoon and investigtors have been unable to locate its source. "If anything changes, we will react," he said. The oil sheen was first reported to police just before 5 p.m. Monday. Fire officials responded first and waited for the Coast Guard's hazardous materials team to arrive.
NEWS
May 1, 2016 | By Andrew Maykuth, STAFF WRITER
Penn Virginia Corp., the embattled Radnor oil and gas producer, stated Friday in a U.S. Securities and Exchange Commission filing that it is "highly likely" it will seek Chapter 11 bankruptcy protection to restructure $1.2 billion in debt. The company, which is among many U.S. oil and gas producers in financial trouble because of low energy prices, acknowledged in its first-quarter earnings report that it is in default under its revolving credit agreement. Its lenders have agreed not to declare default until May 10 if certain conditions have been satisfied.
NEWS
April 8, 2016
COUNTRY HAM, GRILLED MELON & MINT 6 very thin slices of excellent-quality country ham (3 slices per person) 4 1/2-inch slices of ripe melon (2 slices per person), whichever variety is of the best quality at the time Handful of mint leaves Good-quality extra virgin olive oil Freshly ground pepper Preheat your grill for 10 minutes at the highest temperature. Coat the melon slices with a small amount of the olive oil and grill briefly on both sides. You are looking only to caramelize the surface of the melon slightly.
FOOD
April 8, 2016
Makes 2 servings as an appetizer 6 very thin slices of excellent-quality country ham (3 slices per person) 4 1/2-inch slices of ripe melon (2 slices per person), whichever variety is of the best quality at the time Handful of mint leaves Very good-quality extra virgin olive oil Freshly ground pepper 1. Preheat your grill for 10 minutes at the highest temperature. 2. Coat the melon slices with a small amount of the olive oil and grill briefly on both sides.
FOOD
April 1, 2016
4 servings 1/2 cup plus 1 tablespoon extra-virgin olive oil, divided 11/3 cup pearl couscous (also known as Israeli or Middle Eastern couscous) 13/4 cup water 1 large lemon, zest and juice 1 clove garlic, finely chopped Sea salt and freshly ground black pepper 4 lamb Merguez or other lamb sausage links 2 yellow bell peppers, seeded and quartered 2 red bell peppers, seeded and quartered 2 tablespoons chopped parsley 1. Heat 1 tablespoon of the olive oil in a medium saucepan over medium heat.
BUSINESS
March 22, 2016 | By Joseph N. DiStefano, Staff Writer
U.S. investors squeezed by low bond yields and discouraged by the volatile stock market have pumped more than $50 billion into business development companies, or BDCs, in the last 10 years, in hopes of earning more. BDCs typically invest in debt sold by U.S. middle-market companies, including private-equity merger targets, energy-development projects, and mainstream companies that don't qualify for cheap bank loans. For the hope of higher, steadier interest yields, BDC investors often pay high broker fees.
BUSINESS
March 19, 2016 | By Andrew Maykuth, Staff Writer
With last year's crash in oil prices, less crude is moving by train, creating a surplus of idle rail cars that have become opportunistic vessels for some traders storing petroleum until prices recover. "There are a lot of people looking to do it," said Dennis A. Hoskins, managing partner of crude marketing at Energy Midstream, a Texas trading company that recently stored a light crude-oil derivative called condensate in rail cars for 15 days before shipping it to Canada. Though no government agency maintains data on the practice, the use of so-called rolling storage for crude oil does not appear to be widespread.
BUSINESS
March 11, 2016 | By Andrew Maykuth, Staff Writer
In the latest legal battle over Pennsylvania's oil and gas law, lawyers representing local townships and the state squared off Wednesday before the state Supreme Court to mop up unfinished business left after the court's landmark 2013 decision striking down statewide zoning for oil and gas activity. Meeting in Philadelphia, the justices heard a plea to overturn a lower-court ruling that allowed some limits on what doctors can disclose about proprietary chemicals used in gas drilling, a ruling opponents call the "physician gag order.
NEWS
February 27, 2016 | By Andrew Maykuth, STAFF WRITER
The economic impact of the oil bust has radiated beyond the exploration industry: Sunoco L.P. said Thursday that a decline in sales at its Stripes brand convenience stores in Texas oil-drilling areas held down its earnings. With the decline in oil exploration, Sunoco said, there was a noted drop in sales of diesel and merchandise at its stores in West Texas and South Texas. "It's just a reality of life with the reduced activity in the oil patch that our sales are down and they are going to stay that way until we see some recovery in commodity prices and activity," Robert W. Owens, Sunoco's chief executive, said during a quarterly earnings call with analysts.
FOOD
February 26, 2016
Serves 4 1/2 pound halloumi cheese 2 tablespoon extra-virgin olive oil 1/2 cup Dukkah 1. Drain the halloumi and slice it into four 1/2-inch thick portions. Pat the cheese slabs dry with paper towels. 2. Heat olive oil in a heavy skillet over medium heat. When it's just beginning to smoke, add the halloumi and cook for 2 minutes, or until well-browned on the bottom. Turn the halloumi slabs over with a spatula, taking care not to splash the hot oil. Brown them on the other side.
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