Fuel Fix

An oil pump jacks sits on a Osage County ranch in Oklahoma. (Mayra Beltran/Houston Chronicle)

Crude prices tank after oil supply added nearly 2 million barrels

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Categories: Crude oil, featured
Crude oil prices opened lower and continued to fall in Wednesday trading, as the markets parsed new data showing the oversupply of crude isn’t about to evaporate.

Crude prices tank after oil supply added nearly 2 million barrels

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Categories: Crude oil, featured
An oil pump jacks sits on a Osage County ranch in Oklahoma. (Mayra Beltran/Houston Chronicle)
Crude oil prices opened lower and continued to fall in Wednesday trading, as the markets parsed new data showing the oversupply of crude isn’t about to evaporate.
(Photographer: Andrey Rudakov/Bloomberg)

Shell moves forward on major Gulf of Mexico platform

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Shell said it authorized the major project after finding 20 percent in cost reductions and determining that it will produce a profit as long as the global benchmark for oil prices stays above $55 a barrel.

(AP Photo/Mikhail Metzel)

BP to pay Rosneft $750 million for part of Siberian oilfield

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Europe’s two biggest oil companies are looking for increased access to Russia’s vast energy reserves and their proximity to the markets of China and Japan
Categories: Crude oil, Deals
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

The shale industry could be swallowed by its own debt

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The problem for shale drillers is that they’ve consistently spent money faster than they’ve made it, even when oil was $100 a barrel.

(David Paul Morris/Bloomberg)

Kinder Morgan will fight Georgia regulator’s Palmetto denial

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In a court filing submitted Wednesday, Houston-based pipeline giant Kinder Morgan argues that the Georgia Department of Transportation used an improper process and came to the wrong conclusion when it denied the Palmetto Pipeline a certificate of public convenience and necessity — a critical permit which allows the pipeline to secure its route.
Categories: Crude oil
The capping stack -- part of Shell's "Arctic Containment System" for a blown-out well -- is tested in waters near Washington state. Here, it is lifted by an A-frame before being lowered 150 feet into the water. (Photo: Bureau of Safety and Environmental Enforcement)

Feds say Shell completed test for blown-out well response ahead of Arctic drilling

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The exercises, conducted Tuesday and Wednesday in waters near Washington state, focused on Shell’s capping stack, designed to sit atop a damaged well and choke off flowing oil and gas.
Categories: Arctic, Politics/Policy
par petroleum refinery

PBF Energy snaps up Gulf Coast refinery for $322 million

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PBF Energy on Thursday announced plans to spend $322 million to buy a refinery and pipelines outside of New Orleans in a deal that gives the company a new footprint in the booming Gulf Coast refining corridor.
Categories: Deals, Refining
A well is drilled at an Apache Energy site in the Permian Basin in Midland, Texas, Feb. 14, 2012. (Jim Wilson/The New York Times)

Mega injections of wastewater triggered more quakes, study says

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Wells that pumped more than 12 million gallons of saltwater into the ground per month were far more likely to trigger quakes than those that put lesser amounts per month, the study from the University of Colorado found.
Ali al-Naimi, Saudi Arabia's petroleum minister, gestures as he speaks during a panel discussion at the Business Climate Summit in Paris, France, on Thursday, May 21, 2015.  (Jasper Juinen/Bloomberg)

World’s two largest oil producers meeting to form cooperation pact

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Saudi Arabia’s oil minister will meet his Russian counterpart in St. Petersburg to discuss energy, after which the world’s two biggest crude exporters plan on signing a cooperation pact.
Categories: General