News

WASHINGTON, April 30, 2007 – The American Petroleum Institute issued the following statement today following release of the U.S. Minerals Management Service’s new 5-year plan designating additional areas for potential oil and natural gas leasing:

WASHINGTON, April 26, 2007 – U.S. first quarter 2007 drilling estimates hit a 21-year high and were nearly twice the level of first quarter drilling activity recorded during the 1990s, API said.

WASHINGTON, April 18 - API President and CEO Red Cavaney took part in a conference call with energy bloggers on the topic “Energy and the Environment,” during which he discussed a number of issues, including clean diesel, ethanol, tar sands production, and climate change.

WASHINGTON, April 18, 2007 – U.S. gasoline demand slipped in March amid rising pump prices, but ended the first quarter 1.7 percent above year-ago levels after strong deliveries earlier in January and February, API data show.

WASHINGTON, April 18 – API awarded its 2006 Distinguished Award for Outstanding Safety and Environmental Performance to Marathon Pipe Line LLC, an indirect, wholly-owned subsidiary of Marathon Oil Corporation.  Joe Baker, President, Marathon Pipe Line LLC, accepted the award today at API’s 58th annual pipeline conference in Albuquerque, New Mexico.

WASHINGTON. April 12, 2007. In testimony before the Senate Energy and Natural Resources Committee, API President and CEO Red Cavaney said that the U.S. oil and natural gas industry is the nation’s largest user of ethanol and is increasing the volume of renewable fuels in America’s transportation fuel portfolio. “The most economical and practical use of ethanol is as a 10 percent blend in gasoline,” he said. “E-10 is already used in many parts of the country. It requires no modification to vehicles, no major changes to service station pumps and storage tanks, and has a long history of successful use by consumers.”

WASHINGTON, March 20, 2007 – API and NPRA today issued the following statement on the U.S. Chemical Safety Board’s report on the March 2005 Texas City refinery accident:

WASHINGTON, March 14, 2007 – U.S. oil inventories registered a sizeable drop in February after demand for all major oil products rose while imports fell to their lowest levels in more than three years, data compiled by the American Petroleum Institute show.

WASHINGTON, March 6, 2007 – API today signed an agreement with SMU Cox School of Business in Dallas authorizing the school to develop and deliver its Executive Education curriculum and other customized education-related services to oil and natural gas industry professionals worldwide.

WASHINGTON, March 1, 2007 – API today called attention to the cooperative efforts of the oil and natural gas industry and ethanol/agricultural interests in dramatically increasing use of ethanol to meet the transportation fuel needs of U.S. consumers.