Beaumont – Fuelfix

Uncle Sam to collect $110 million from offshore oil auction

Oil and gas companies are set to pay the government $110 million in high bids for leases in the western Gulf of Mexico, after an auction Wednesday that underscored the industry’s interest in deep-water territory.  More »

Saudi Aramco invests $30 million in methane-to-gasoline startup

Siluria Technologies has received $100 million investment in its effort to develop a more efficient process for making gasoline from methane–the main component of natural gas, which is so plentiful in the United States now that some is burned off in flares because it isn’t marketable.  More »

Warren Buffett pulls back on oil company investments

Warren Buffett showed the energy industry his gloomy side in the second quarter.  More »
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14 companies bid for western Gulf leases

Federal officials on Wednesday will open sealed bids from 14 companies vying for new oil and gas leases in the western Gulf of Mexico.  More »

Apache announces new offshore Australia discovery

HOUSTON — Houston-based Apache Corp. announced Monday that it made its first offshore oil discovery in Australia’s Canning Basin, located off the west coast of the country. Officials with the company say their measurements indicate that, optimistically, there could be as much as 300 million barrels of oil in place at the basin. The company […]  More »

Hoping for its own shale gale, China seeks U.S. know-how

U.S. companies are entering joint ventures to provide China with the tools it needs to get at oil and gas locked in shale.  More »

Feds urged to put Atlantic waters on auction block

Oil development in Atlantic waters from Africa to Canada should encourage the Obama administration to sell drilling leases in waters hugging the East Coast, a leading industry trade group said Wednesday.  More »

Refiners adapt as oil supply tips away from imports

As more U.S.-produced oil makes its way to Gulf Coast refineries, they’re having to retool to process the domestic crude — which is a different grade than the imported oil they’re designed for but also is often cheaper.  More »

Schlumberger: Russian sanctions could affect profits

Schlumberger is the third international oil field services company with Houston operations to warn that U.S. and European Union sanctions against Russian may start hurting profit.  More »

Slaying of Apache Corp. worker underscores dangers in Egypt

The shooting death of an Apache Corp. oil worker in Egypt last week underscored the dangers of working in Egypt’s remote oil patches, and may make investors nervous about the Houston company’s continued presence there.  More »

Investigation tracks failure of subsea bolts

The failure of a bolt used to affix emergency equipment to a subsea well in the Gulf of Mexico should spur the oil industry to write new standards for fasteners and the oversight of contractors working offshore, investigators say.  More »

Mexico enacts gas, oil opening

Mexican President Enrique Pena Nieto has signed into law the rules governing a historic opening of the state-run oil, gas and electricity industries to foreign and private companies.  More »

Kinder Morgan to unite a house divided in $44 billion deal

Kinder Morgan Inc. will acquire three publicly traded subsidiaries in a $44 billion deal combining the components of the giant Houston-based pipeline empire.  More »
Gulf oil field names follow quirky, creative system

Gulf oil field names follow quirky, creative system

As drilling activity has increased in the Gulf of Mexico over the decades, geologists have had to push the envelope and develop even more distinct labels for their finds  More »

Russia starts drilling its northernmost oil well

The Russian-American project comes despite deteriorating relations between Washington and Moscow over the crisis in Ukraine, in which each side has hit the other with sanctions.  More »
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