Fuel Fix

Exxon Mobil Corp. CEO Rex Tillerson speaks to 2015 IHS Energy CERAWeek. (Billy Smith II/Houston Chronicle)

Exxon Mobil earnings fall 52 percent

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Categories: Crude oil, featured
Lower prices cost oil and gas giant Exxon Mobil’s upstream business $4.5 billion, the company said.

Exxon Mobil earnings fall 52 percent

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Categories: Crude oil, featured
Exxon Mobil Corp. CEO Rex Tillerson speaks to 2015 IHS Energy CERAWeek. (Billy Smith II/Houston Chronicle)
Lower prices cost oil and gas giant Exxon Mobil’s upstream business $4.5 billion, the company said.
(Photographer: Andrey Rudakov/Bloomberg)

Shell to ax thousands of jobs amid $7 billion in spending cuts

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The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”

(Spencer Platt/Getty Images)

Goldman Sachs: So far, cheap oil has been mostly bad for the economy

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While the dive in crude oil prices from more than $100 in June 2014 to a little over $50 this month has meant the cheapest gasoline prices since 2009, consumer spending from that windfall hasn’t outpaced deep cuts to the oil and gas sector.
Categories: Consumers, Crude oil, Markets
The Elba liquefied natural gas import terminal near Savannah, Ga.

Kinder Morgan to take over Shell’s interest in Elba LNG project

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The deal will hand Kinder Morgan full ownership of the Elba Liquefaction Co., a joint venture building an about $2.1 billion natural gas liquefaction facility at Elba Island, Georgia.

(Marcus Bengtsson/Creative Commons)

Environmentalists insist feds must block Shell’s Arctic drilling while icebreaker is away

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Shell is counting on the Fennica to keep ice at bay during normal drilling operations as well as any oil spill response, noted 10 environmental groups in a letter to Interior Secretary Sally Jewell.
Categories: Arctic
Texas Flooding

Texas Flooding Reveals Deficient Infrastructure

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Over 37.3 trillion gallons of water fell in Texas this past spring after heavy precipitation resulted in substantial flooding. While years of drought were literally washed away, the state experienced significant consequences of the flooding, including 21 deaths according to a report by NPR. The recent weather patterns exposed vital shortcomings in the state’s flood […]
(JTB Photo/UIG via Getty Images)

U.S. chemical companies poised for growth as demand swells

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But falling oil prices and a strong U.S. dollar threaten earnings for several domestic chemical companies, according to an economic and ratings outlook compiled by Standard and Poor’s Ratings Services.
Categories: Chemicals, Crude oil
A worker from Oceanografia SA walks down a set of stairs on a section of the Petroleos Mexicanos (Pemex) Pol-A Platform complex, located on the continental shelf in the Gulf of Mexico, 70 kilometers offshore from Ciudad del Carmen, Mexico, on Friday, March 28, 2014. "Production is stable and we foresee production reaching our target levels above 2.5 million barrels per day,? Pemex chief executive officer Emilio Lozoya said in an interview last week. Photographer: Susana Gonzalez/Bloomberg

Oil majors shun Mexico offshore auction as blocks go unsold

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Exxon Mobil Corp., Chevron Corp. and Total SA all passed on the first 14 shallow-water oil blocks auctioned by Mexico today in the country’s first-ever sale of territory in the Gulf of Mexico. Only one of Mexico’s first five oil blocks auctioned received a qualifying bid.
Drivers fill up their vehicles at a Sunoco station on Wednesday, Feb. 4, 2015, in Cohoes, N.Y.   (Paul Buckowski / Times Union)

Energy Transfer Partners to shift retail business in $1.94 billion swap

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The so-called drop down deal will sharpen Dallas-based Energy Transfer Partners’ focus on the midstream sector, while also concentrating Energy Transfer’s retail and convince store business in Sunoco LP.