Beaumont – Fuelfix

Federal oil lease sale of western Gulf tracts set for August

The sale will include approximately 4,000 blocks, from nine to 250 miles offshore, in depths ranging from 16 to almost 11,000 feet.  More »

Houston’s richest man got richer despite crashing oil prices

Forbes released its list of the richest people in the world Monday, and several of Houston’s billionaires saw their fortunes rise.  More »

Cleanup crews respond to Hilcorp pipeline spill in Alaska

The Alaska Department of Environmental Conservation says responders were able to reach the site at about 6 a.m. Sunday after severe blizzard conditions overnight Saturday halted response efforts.  More »
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Buffett praises Exxon Mobil even after selling oil firm

Buffett appeared on CNBC Monday after releasing his annual letter to Berkshire shareholders over the weekend.  More »

Pemex negotiates lower rig rates as crude collapse hurts profit

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 »

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 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 »

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 »

YPF quarterly profit misses analysts’ estimates on higher costs

President Cristina Fernandez de Kirchner’s government allows oil producers to remain profitable amid a slump in crude prices by setting fourth-quarter prices of $83.90 for Medanito light oil and $74 for Escalante heavy oil.  More »

CenterPoint officials say they aren’t worried about Houston’s economy

CenterPoint Energy, the monopoly utility company serving Houston-area electric companies, reported a 55.8 percent increase in profits in the fourth quarter Thursday.  More »

GDF Suez to lower spending on oil crash as 2014 profit falls

GDF Suez had lowered its 2014 profit forecast because two nuclear reactors in Belgium remained halted due to safety checks of cracks in their cores.  More »

Repsol profit triples as refining counterbalances oil drop

Oil’s drop of almost 50 percent over the past six months pushed companies from Total SA and Royal Dutch Shell Plc to BP Group Plc and Statoil ASA to announce investment cuts in the past month.  More »

Premier oil suspends dividend after posting full-year loss

First oil from its Solan project in the North Sea west of Shetlands is now expected in the second half instead of the second quarter because of poor weather conditions, the company said.  More »

Transocean could take only a week to shelve out-of-work rigs, execs say

Transocean reported a loss in the fourth quarter as it took a $992 million goodwill impairment charge on the sinking value of its drilling business and other charges, it said late Wednesday.  More »

EIA: U.S. crude inventories grow again

The inventory report included a number of figures that have worried analysts in the past.  More »
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