Fuel Fix

(Nabors)

Nabors posts $891 million net loss in fourth quarter

The charges included a $612 million impairment the company booked on its older rigs.  More »
(Melissa Phillip/Houston Chronicle )

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 »
( Jason Alden/Bloomberg)

Texas grid can handle the heat, operator says

Texas power plants should be able to meet spring and summer electricity demand, the state’s grid operator said Monday.  More »
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Photographer: Daniel Acker/Bloomberg

Magellan Midstream and Plains All American plan crude line from Colorado

Plains and Magellan indicated that the new line would be supported by binding commitments from producers Noble Energy and Anadarko Petroleum Corp.  More »
(Markus Schreiber/Associated Press)

Russia, Ukraine hold emergency gas talks as cutoff looms

The European Union, which is mediating the talks in Brussels hoping to keep gas flowing despite the dispute, imports around 40 percent of its gas from Russia, half through conflict-torn Ukraine.  More »
T-14 IntRel 2-28-15.2

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 »
Prime Minister Vladimir Putin of Russia visits an oil rig in the Caspian Sea operated by Lukoil, April 28, 2010. (Alexei Druzhinin/Pool via The New York Times)

How much more economic pain can Vladimir Putin take?

It looks like the one-two punch of sanctions and cheap oil are about to wreck Russia.  More »
Secretary of Agriculture Tom Vilsack, right, speaks during a news conference at the Iowa Choice Harvest in August 2014. (AP Photo/Charlie Neibergall)

Vilsack Q&A: Biofuels have a ‘bright’ future

Agriculture Secretary Tom Vilsack sees big opportunities for biofuels in foreign markets and fueling airlines — especially if the sector beats back stiff oil industry opposition.  More »
Exxon-Same-Sex-Benefits

Lawsuit alleges Exxon denied more claims than paid

Two batches of bad fuel produced at Exxon Mobil in mid-March 2014 caused some Baton Rouge area drivers to experience problems with their intake and valve systems.  More »
(Daniel Acker/Bloomberg)

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 »
(AP file photo/David J. Phillip)

Lawmakers may end tax break on jet fuel, to Delta’s dismay

A bill filed in the House would cut the exemption at Atlanta’s Hartsfield Jackson Airport. Supportive lawmakers say it would help the state get federal money for aviation improvements throughout the state.  More »
Gov. Tom Wolf speaks to members of the media after he signed an executive order restoring a moratorium on new drilling leases involving public lands, Thursday, Jan. 29, 2015, at the Benjamin Rush State Park in Philadelphia. The executive order ends a short-lived effort by his predecessor to expand the extraction of natural gas from rock buried deep below Pennsylvania's state parks and forests. (AP Photo/Matt Rourke)

Wolf administration to show how it’ll challenge gas industry

Next week, Wolf’s Department of Environmental Protection is preparing to release its plans to update various rules over the drilling industry, including how it must prevent methane leaks and how it must handle toxic wastewater.  More »
(Susana Gonzalez/Bloomberg)

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 »
California Gov. Jerry Brown (AP Photo/Rich Pedroncelli)

California energy chief calls Jerry Brown’s fuel target a ‘moon shot’

California has been setting the pace for U.S. policy on climate change and greenhouse gases.  More »
John Melko (photo: Gardere Wynne Sewell)

Guest commentary: dealing with low energy prices

Many Texans have seen this movie before, and some of us have seen it several times. Until the commodity cycle turns, as it always does, refocus on the basic blocking and tackling of running a business. Take protective measures to guard against avoidable losses.  More »
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