News

WASHINGTON, March 11, 2008 – Orders are now being accepted for API’s 2008 Basic Petroleum Data Book (Volume 28, No. 1), first edition. The Data Book is a compendium of U.S. and international petroleum statistics beginning, in most instances, in 1947. 

WASHINGTON, February 26, 2008 – API issued the following statement on proposed tax legislation in the House targeting the oil and natural gas industry:

WASHINGTON, February 13, 2008 – Deliveries of all petroleum products in January – a measure of demand – were flat compared with deliveries for the same month one year ago.  While both gasoline and distillate deliveries rose, the increases were offset by declines in both jet fuel and residual fuel oil deliveries.  The year-to-year demand increase for gasoline of 1.6 percent came despite gasoline selling at the highest nominal January prices ever at over $3 per gallon, according to API’s Monthly Statistical Report

WASHINGTON, February 12, 2008 - In a letter to Congress, API President and CEO Red Cavaney said energy tax legislation would hurt future U.S. energy security, impose a harmful tax increase on the economy and hurt millions of hard-working Americans whose retirement or private accounts are invested in publicly traded oil and natural gas companies.

WASHINGTON, February 6, 2008 – API has issued the following statement on the Chukchi Sea lease sale:

WASHINGTON, January 24, 2008 – U.S. drilling estimates for 2007 show that oil and natural gas exploration remains robust as activity was twice the level recorded during the lows of the early to mid-1990s, API said.  Estimated natural gas drilling was at a record high.

WASHINGTON, January 17, 2008 – U.S. fuel production reached a record high in 2007 as refinery capacity expanded for the 11th straight year, API data show. U.S. crude oil production also rose in 2007, the first annual increase since 1991, according to API’s year-end Monthly Statistical Report