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

on
(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
Oil swirls in a small eddy in a back channel of the Yellowstone River near Laurel, Mont., in 2011.   (AP Photo/Julie Jacobson,File)

U.S. says Exxon Mobil must pay $1 million for Montana spill

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Safety regulators said Exxon Mobil failed to adequately heed warnings that its 20-year-old Silvertip Pipeline was at risk from flooding.
Categories: Environment, Pipelines
Earthquake2-DaveSchumaker-flickr

Texas regulators say disposal wells didn’t cause 4.0 quake

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The Texas Railroad Commission said it reached that conclusion after testing five disposal wells in Johnson County.

Helix Well Containment Group equipment was deployed in a drill at a Noble Energy test well in May, with federal regulators and industry representatives looking on. (Photo: Noble Energy)

Despite new discoveries, deep water’s a bit still

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Marshall Adkins, director of energy research at Raymond James in Houston, said the moves show there is reason for optimism, but that the deepwater oil and gas sector might be 18 months away from seeing a rebound, as opposed to the quicker recoveries expected in U.S. shale.
India's Minister for Petroleum and Natural Gas, Dharmendra Pradhan (L-R), Minister of Oil of Iraq, Adil Abd Al-Mahdi, Minister of oil of Iran, Namdar Zangeneh, Venezuela's Minister for Petroleum and Mining, Asdrubal Chavez J, and Secretary General of the International Energy Forum, Aldo Flores-Quiroga, attend an OPEC seminar  on June 3, 2015 in Vienna. (AFP PHOTO / JOE KLAMARJOE KLAMAR/AFP/Getty Images)
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Iran seeking billions to rebuild natural gas industry

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While commodity markets fixate on a return of Iranian oil, the importance of gas in the longer term was underlined Wednesday as BP Plc data showed the Islamic Republic held its position as the nation with the largest proven reserves of the fuel after snatching the crown from Russia in 2011.
(AP Photo/Richard Drew, File)

Report: In bitter energy debate, nobody wins

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A toxic discourse on energy — disconnected from facts and polarized both by environmentalists who exaggerate risks and pro-industry groups who ignore legitimate concerns — is confusing the public and jeopardizing the much-needed economic benefits responsible development of unconventional resources could bring the U.S., authors said.
Categories: Crude oil
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

Drilling slowdown continues as 7 more oil rigs go dark

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The number of rigs chasing oil fell to a total of 635, extending the slowdown for a 27th consecutive week, according to weekly data from oil services firm Baker Hughes.
Categories: General
(Spencer Platt/Getty Images)

Oil layoffs reach 150,000, recruiting firm says

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Pelted by the oil-market crash, the energy industry’s job cuts reached 150,000 by the end of May, says energy recruiting firm Swift Worldwide Resources, and that figure had grown by a fifth since March.