Fuel Fix

Photographer: Daniel Acker/Bloomberg

Nabors cuts nearly 3,500 jobs as U.S. drilling takes big hit

Nabors’ active U.S. rig count has fallen 32 percent from its peak last year, according to the company’s CEO.  More »
BP Plc Results News Conference

BP CEO’s pay package jumps 25 percent

BP CEO Bob Dudley’s total take home jumped 25 percent last year, though his annual cash bonus was trimmed by more than half, according to regulatory filings released Tuesday.  More »
Scott Sheffield, chairman and CEO of Pioneer Natural Resources, speaks in Midland, Texas. (Tim Fischer\Reporter-Telegram)

Oil producers make pitch to Congress

Oil producers are pleading with lawmakers for the chance to export crude.  More »
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(Cody Duty / Houston Chronicle)

‘Disappointed’ in union, Shell says it is hiring relief workers

As the strike enters its second month, Shell has been training “relief employees” to operate its Deer Park refinery as well as its Norco chemical plant in Louisiana, according to a letter to employees from Aamir Farid, manufacturing vice president, Americas.  More »
Crude Oil Caps Biggest Weekly Increase In Two Years On Libya Unrest

US running out of room to store oil; price collapse next?

If record production in the U.S. keeps up, storage tanks could approach their operational limits, known in the industry as “tank tops,” by mid-April and send the price of crude — and probably gasoline, too — plummeting.  More »
Electric Reliability Council of Texas ERCOT

NRG, Calpine challenge Houston transmission project in new lawsuit

A pair of Houston-based power generators allege in a lawsuit filed this week in state court that a new transmission line planned for the Houston area is expensive and unnecessary.  More »
An oil platform is seen in the Gulf of Mexico near the Chandeleur Islands, off the Southeastern tip of Louisiana. (AP Photo/Gerald Herbert, File)

EIA: Gulf of Mexico production to continue increasing

By 2016, the Gulf will account for about 17 percent of total U.S. crude production.  More »
Anadarko Petroleum Corporation CEO Al Walker, gives a speech after his company won top ranked large employer during the Houston Chronicle's Top Workplaces Awards Gala, Thursday, Nov. 8, 2012, in Houston. (Nick de la Torre/Houston Chronicle)

Anadarko to cut spending 33 percent, execs say

The 33-percent spending cut includes a plan to bring down 40 percent of its U.S. land drilling rigs and to defer 125 onshore well completions. So far this year, the firm has sold off or divested $700 million in assets.  More »
OIL MARKETS

Kinder Morgan to give more public info on New Hampshire pipeline plan

In a letter sent last week to Kinder Morgan, the state’s congressional delegation asked the company to do more public outreach beyond five meetings conducted recently in communities affected by the proposal.  More »
ExxonMobil CEO Rex Tillerson (left) talks to Russian Prime Minister Vladimir Putin during a  signing ceremony in Russia in 2011. (AP photo/RIA Novosti, Alexei Druzhinin, pool)

Exxon now has more exploration holdings in Russia than in the U.S., despite sanctions

While U.S. and European Union sanctions against Russia forced Exxon to shut down an Arctic drilling project in October, the producer is staking claims to areas that could yield tens of billions of barrels in coming decades.  More »
Photographer: Simon Dawson/Bloomberg

Lukoil profit drops 39 percent after impairments, oil-price slump

The results come after OAO Gazprom Neft posted a 31 percent decline in profit on Monday as oil prices plunged and a weaker ruble led to foreign-exchange losses, while OAO Novatek last week said earnings dropped 66 percent.  More »
(AP Photo/Xinhua, Jin Liangkuai)

Philippines suspends oil, gas exploration in disputed waters with China

Oil and gas exploration company Forum Energy Plc. said the Department of Energy instructed it to halt all work in its contracted area at Reed Bank in the South China Sea off the western Philippine province of Palawan.  More »
Photo: Timothy A. Clary/AFP/Getty Images

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 »
(Image: Fotolia)

Ohio sues BP for more than $33M in cleanup of storage tanks

The state’s attorney general and the Ohio Petroleum Underground Storage Tank Release Compensation Board filed the lawsuit Monday. The board administers a fund used as a last resort when tank owners lack coverage or don’t accept insurance money.  More »
Delta Airlines planes parked at the gates in Atlanta. (William Montgomery photo)

Delta challenges Obama administration on oil exports

Delta Air Lines’ refining subsidiary is accusing the Commerce Department of easing the nation’s longstanding ban on crude exports after “secret meetings” with oil companies.  More »
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