Fuel Fix

Pemex negotiates lower rig rates as crude collapse hurts profit

(Susana Gonzalez/Bloomberg)
Pemex is in talks with oil service and jack-up rig providers to reduce daily rates after the board approved cutting more than $4 billion from its 2015 budget last week. More »
(AP file photo/David J. Phillip)

Lawmakers may end tax break on jet fuel, to Delta’s dismay

A bill filed in the House would cut the exemption at Atlanta’s Hartsfield Jackson Airport. Supportive lawmakers say it would help the state get federal money for aviation improvements throughout the state.  More »
Gov. Tom Wolf speaks to members of the media after he signed an executive order restoring a moratorium on new drilling leases involving public lands, Thursday, Jan. 29, 2015, at the Benjamin Rush State Park in Philadelphia. The executive order ends a short-lived effort by his predecessor to expand the extraction of natural gas from rock buried deep below Pennsylvania's state parks and forests. (AP Photo/Matt Rourke)

Wolf administration to show how it’ll challenge gas industry

Next week, Wolf’s Department of Environmental Protection is preparing to release its plans to update various rules over the drilling industry, including how it must prevent methane leaks and how it must handle toxic wastewater.  More »
California Gov. Jerry Brown (AP Photo/Rich Pedroncelli)

California energy chief calls Jerry Brown’s fuel target a ‘moon shot’

California has been setting the pace for U.S. policy on climate change and greenhouse gases.  More »
John Melko (photo: Gardere Wynne Sewell)

Guest commentary: dealing with low energy prices

Many Texans have seen this movie before, and some of us have seen it several times. Until the commodity cycle turns, as it always does, refocus on the basic blocking and tackling of running a business. Take protective measures to guard against avoidable losses.  More »
strike 1

Steelworkers, Shell to speak Wednesday

On the negotiation front, it’s been a quiet week for striking oil workers and energy executives. After the United Steelworkers union added three more refineries, including the nation’s largest, and one chemical plant to the list of facilities on strike over the past weekend, there was no movement at the bargaining table this week. That […]  More »
The former Exxon Mobil-owned Bayway Refinery in Linden, N.J. ConocoPhillips now operates the plant. Photographer: Daniel Acker/Bloomberg

Exxon Mobil settles New Jersey environmental case for a fraction of expected damages

The New Jersey State Department of Environemntal Protection filed the lawsuit in 2004, and a state superior judge had been close to a decision this year before Gov. Chris Christie’s office told the court on Feb. 20 it had settled with Exxon.  More »
A woman holds an Ukrainian flag during a protest against Russian military actions in Ukraine in front of the Russian embassy in Berlin. (Markus Schreiber/Associated Press)

Cash-strapped Ukraine struggles to keep Russia gas supplies

With Ukraine’s economy on the brink of collapse and money from a 15.5 billion-euro ($17.5 billion) bailout deal from the International Monetary Fund that has not yet reached Ukrainian coffers, it is unclear how capable — or how willing — Kiev is to strike a long-term deal with Moscow.  More »
Operations At An Orion Drilling Co. Oil Platform

Oil rig count falls by 33, as decline continues

The total rig count fell by 43, with 33 oil rigs and 9 gas rigs lost, according to data released Friday by oil service company Baker Hughes.  More »
A Petronas logo is seen near its twin towers in Kuala Lumpur, Malaysia.  (AP file photo/Lai Seng Sin)

Petronas turns to $2.7 billion fourth-quarter loss on oil slump

Petronas won’t generate enough cash from operations this year to cover capital spending and dividend commitments, said Vikas Halan, a Singapore-based vice president at Moody’s Investors Service Inc., estimating the shortfall to be at least 10 billion ringgit.  More »
NRG_Solar0619

NRG reports $119 million in fourth quarter profits

The company, which both generates power and supplies it to retail customers, also saw its net income for 2014 rise to $134 million, up from a $386 million loss in 2013.  More »
(AP Photo/Nabil al-Jurani, File)

Islamic State’s oil revenue cut by air raids, falling oil

The group’s capacity to extract oil, refine it and sell the products has “significantly diminished,” according to a new report.  More »
(AP Photo/Surete du Quebec, The Canadian Press,File)

Oil train wrecks increase pressure for tougher safety rules

On Feb. 5, the Transportation Department sent the White House draft rules that would require oil trains to use stronger tank cars and make other safety improvements.  More »
(Photo by Win McNamee/Getty Images)

Flood board to decide next week on ‘Big Oil’ lawsuit appeal

U.S. District Judge Nanette Jolivette Brown recently ruled that the board had no legal standing to bring the suit and that the energy companies had no legal duty to protect the board from the effects of coastal erosion.  More »
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