News

WASHINGTON, May 14, 2008 – U.S. oil demand in April, as measured by deliveries of all petroleum products, rose a modest 0.2 percent over year-ago levels, the first time this year monthly demand averaged higher than the corresponding month in 2007, according to API’s Monthly Statistical Report.  But year-to-date oil demand continues to lag behind 2007 levels.

WASHINGTON, May 7, 2008 - Oil and natural gas industry spending on drilling and equipping wells in the United States surged again in 2006, hitting an all-time record high of nearly $110 billion.

WASHINGTON, May 5, 2008 – Climate change legislation pending in Congress could significantly reduce clean-burning natural gas production and send refining production and jobs overseas at a time the nation needs more supplies of all energy sources, according to a report released today by API.

Washington, DC, May 5, 2008 – A new report issued today shows the U.S. oil and natural gas industry invested about $42 billion in greenhouse gas emission mitigation technologies from 2000 to 2006.  This represents 45 percent of an estimated $94 billion spent on these technologies by all U.S. industries and the federal government. 

WASHINGTON, April 18, 2008 – Drilling activity continues to increase in the U.S. exploration and production industry, according to API’s first quarter 2008 drilling estimates that show drilling activity was twice the level of corresponding quarters during the 1990s.

WASHINGTON, April 16, 2008 – U.S. first quarter fuel demand, as measured by deliveries of petroleum products, was 1.4 percent below year-ago levels, the third straight quarter of year-on-year declines in the world’s largest oil consuming nation, according to API’s year-end Monthly Statistical Report.

WASHINGTON, April 9, 2008 – Today API awarded its 2007 Distinguished Award for Outstanding Safety and Environmental Performance to the Portland Pipe Line Corporation.

WASHINGTON, March 31, 2008 – High crude oil prices top a list of factors that have combined to produce high gasoline prices in today’s high-demand, tight supply world energy market. Even so, U.S. consumers and businesses have abundant supplies as the oil and natural gas industry continues to produce record amounts of fuels.

WASHINGTON, March 19, 2008 – Deliveries of all petroleum products in February – a measure of demand – slipped 1.3 percent from the same month one year ago, according to API’s Monthly Statistical Report.  Gasoline and jet fuel deliveries rose but the increases were offset by declines in distillate fuel and residual fuel oil.  The year-to-year demand increase for gasoline of 1.7 percent came despite retail gasoline selling at the highest nominal February prices ever.

WASHINGTON, March 12, 2008. – API issued the following statement on Sen. Collins’ amendment to fund alternative energy with higher taxes on the U.S. oil and natural gas industry: