Fuel Fix

(Photo by Eddie Seal for Bloomberg News)

U.S. oil rig count jumps up by a dozen, the first increase in 2015

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The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.

U.S. oil rig count jumps up by a dozen, the first increase in 2015

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(Photo by Eddie Seal for Bloomberg News)
The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.
(AP Photo/Gerald Herbert, File)

BP to settle Deepwater Horizon claims for $18.7 billion

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BP has agreed to pay a record $18.7 billion to settle the federal and state claims against it for its role in the Deepwater Horizon oil spill, sidestepping years of litigation with a promise to pour funds for nearly two decades into efforts to repair vast environmental damage in the Gulf region.
Categories: featured, Gulf oil spill

    Jeff Allyn, a derrick hand with Raven Drilling, pauses with a cup of coffee while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota. (Andrew Burton/Getty Images)

    Shale drillers’ safety net is vanishing

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    SandRidge, the Oklahoma City-based producer, had about 90 percent of its oil and natural gas liquids output hedged in early 2015, according to a regulatory filing. Next year, the hedges cover less than a third.
    Categories: featured, Shale
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
(Lucas Schifres/Bloomberg)

Natural gas futures fall despite bullish inventory news

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The U.S. Energy Information Administration reported that U.S. storage grew by 89 billion cubic feet during the week ending June 12, to a total of 2.43 trillion cubic feet.
Categories: Natural gas
FILE - In this Thursday, April 2, 2105 file photo, Pope Francis Pope holds the book of Gospels as he presides over Chrism Mass in St. Peter's Basilica, at the Vatican. When Pope Francis visits the United States this fall, he can expect the same rock-star adulation that greets him wherever he goes. But his positions on hot-button issues such as the death penalty and climate change could quickly set the stage for conflict. That may explain why Francis has been clearing the decks on a host of less high-profile matters of contention that could also have marred the visit. (AP Photo/Gregorio Borgia, File)

Energy producers push back against pressure from pope on climate change

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The spiritual leader of 1.2 billion Catholics around the world made his plea for the planet, and for the world’s poorest people, in a 181-page letter to bishops Thursday. Companies and industry groups said the fuels they produce are needed to supply rising global demand for energy.
(AP Photo/Chris Carlson)

NRG spinoff buys into giant California solar farm

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A spinoff of NRG Energy is buying 25 percent interest in the massive new Desert Sunlight Solar Farm in southern California for $285 million.
Categories: Deals, General, Solar
(JEFF PACHOUD/AFP/Getty Images)

Gasoline prices across Texas up a nickel this week

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AAA market experts believe gas prices are nearing a seasonal high. Officials cite the completion of seasonal refinery maintenance and abundant crude oil supplies.
Categories: Gasoline