U.S. consumers are paying the most in six months for gasoline because of declining supplies and rising costs for the ethanol added to the fuel. And prices probably will keep climbing. More »
Kior Inc., the owner of the first commercial-scale cellulosic biofuel plant in the U.S., surged the most in six months after billionaire backer Vinod Khosla agreed to provide as much as $25 million in financing, making good on a commitment from last month. More »
Russia’s natural-gas export monopoly raised prices for Ukraine 44 percent after a discount deal expired, heaping financial pressure on the government in Kiev as it negotiates international bailouts. More »
Buoyed by gas, the fossil-fuel industry is trying to bask in a newfound green image. More »
BP attributed the operational gap to the “lumpy” nature of the business.
Exxon Mobil Corp. has approval to restart the southern leg of its Pegasus oil pipeline, which was shut after a spill in Arkansas a year ago, federal regulators said in a letter dated Monday. More »
The cold snap in the Eastern U.S. convinced hedge funds and other speculators to keep betting on rising natural gas prices, accumulating the most bullish position for this time of year since at least 2010. More »
General Electric Co. studied fuel cells and determined the technology is too dependent on platinum to be more than a niche product. More »
Rigs targeting oil in the U.S. jumped to a record as energy producers used the most in a year to drill for crude in Texas’s Eagle Ford shale formation. Oil rigs increased by 14 to 1,487, the highest level since Baker Hughes split the oil and gas counts in 1987, data posted on the company’s […] More »
Total SA plans to seek shale gas with China Petroleum & Chemical Corp. by drilling in Anhui province, moving the third-largest European oil company closer to exploiting Chinese reserves that are the world’s biggest. Total and Sinopec, as the Chinese refiner is known, will search for gas in the 4,000 square-kilometer (1,500 square mile) Xuancheng […] More »
Woodside Petroleum, Australia’s second-largest oil producer, missed its target for completing a deal to buy a stake in a natural gas project in Israel, 15 months after signing an initial accord.
Brazil’s top finance official is being roped into a growing scandal over Petroleo Brasileiro SA’s $1.19 billion purchase of a Texas plant, the latest in a string of troubles plaguing the company’s money-losing refining unit. More »