Fuel Fix

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Cheaper crude doesn’t mean cheaper products yet

Raw materials and fuel have gotten less expensive as oil prices plunge to their lowest levels in five years, but manufacturers may be reticent to pass on those savings to consumers until the volatile oil and gasoline markets begin to settle.  More »
pilot27

Record oil tankers seen sailing to China amid stockpiling signs

There are 83 very large crude carriers bound for Chinese ports, according to shipping signals from IHS Maritime.  More »
Protests were held in November against corruption in Brazil. Miguel Schincariol /AFP/Getty Images

Brazil charges 35 in Petrobras scandal

The formal charges cap a months-long investigation dubbed “Operation Car Wash.”  More »

Emilio Lozoya, chief executive officer of Petroleos Mexicanos (Pemex) (Susana Gonzalez/Bloomberg)

Mexico opens bidding for outsider oil exploration

Mexico nationalized its oil industry in 1938. Prior to this year’s reforms, the state company Petroleos Mexicanos was the only one allowed to do oil exploration and production.  More »
Chevron hired an investment banker to gauge buyer interest in its Hawaiian operations.
(AP Photo/Lynne Sladky)

Ecuador case against Chevron before Canadian court

Lawyers have fought for years in several countries over who’s responsible for pollution in the rain forest.  More »
(Photo: Johnny Hanson/Houston Chronicle file photo)

Halliburton lays off 1,000 employees in Eastern Hemisphere

HOUSTON — Oil field giant Halliburton said Thursday it is laying off about 1,000 employees across multiple regions in the Eastern Hemisphere, effective immediately, a day after a company executive said it expects a $75 million restructuring charge in the fourth quarter.  More »
(AP Photo/Hasan Jamali)

Falling oil prices raise new concerns for states

With oil prices now around a five-year low, budget officials in about a half-dozen states already have begun paring back projections for a continued gusher of revenues. Spending cuts have started in some places, and more could be necessary if oil prices stay at lower levels.  More »
(AP Photo/ Louis Lanzano)

WTI oil drops below $60 after Saudis question need to cut

OPEC decided against reducing its output quota at a meeting last month, letting prices drop to a level that may slow U.S. production that’s surged to the highest level in more than three decades.  More »
(Getty Images)

States looking to increase electric-vehicle charging stations

Several states are pushing forward tax incentive programs to provide charging stations for the increasing number of electric vehicles on the road.  More »
(Courtesy of LyondellBasell)

Shale boom spurs chemical industry expansion

The industry grew by 2 percent this year and is expected to swell further next year as advances in drilling and completion technologies unlock vast new supplies of hydrocarbons that chemical companies rely on to make products and fuel their plants.  More »
Fire boat response crews battle the blazing remnants of the BP operated off shore oil rig, Deepwater Horizon, in the Gulf of Mexico in 2010. (AFP/Getty Images)

Feds boost liability cap for oil spills

Companies are still required to pay the entire costs of cleaning up after offshore spills. And the liability limit on economic damages is waived entirely if gross negligence, willful misconduct or other violations led to a spill.  More »
U.S. Oil Rigs Increase Exploration, Defying Predictions

As crude oil prices fall, concerns about sector slowdown rise

A slew of factors – including decreased demand projections and tough words from a Middle East official – contributed to a $2.88 drop in U.S. benchmark oil prices to $60.94 per barrel.  More »
(Jennifer A. Dlouhy / The Houston Chronicle)

Alaska faces $3.5B deficit amid lower oil prices

The state is expected to dip into savings to get by. Gov. Bill Walker, who took office Dec. 1, has warned of lean times ahead.  More »
(AP file photo/Mark Lennihan)

U.S. getting rid of oil addiction as price plummets in glut

The catalyst for the latest sell-off in oil was an OPEC report that projected demand for its crude would sink next year to levels not seen in more than a decade.  More »
Tokyo Gas' LNG Plant/Tanker Images

Why Texas is now home to bargain-hunting Japan oil buyers

Their move into Houston illustrates the challenge for OPEC as the highest American output in more than three decades lures the group’s traditional customers and benchmark prices tumble.  More »
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