Fuel Fix

A worker cycles through the China Petroleum & Chemical Corp. (Sinopec) Yanshan refinery in Beijing. The world’s second-largest economy, which gets more than half of its crude from overseas, plans to build emergency reserves equivalent to 100 days of net imports by 2020, China Petrochemical Corp., the nation’s top refiner and parent company of Sinopec, said in 2009, citing the plan approved by the State Council. (Nelson Ching/Bloomberg)

China’s record oil hoarding seen keeping crude above $100

China is hoarding crude at the fastest pace in at least a decade, shielding itself from supply disruptions and helping keep prices above $100 a barrel.  More »
(Photo: Flickr/Jhy Turley)

US natural gas output will set a record this year

U.S. natural gas output will reach 73 billion cubic feet a day for the first time this year as new pipelines tap into shale supplies stranded in the Marcellus formation in the Northeast, a new government report shows.  More »
(Feng Yu/Fotolia)

Poll: Americans would pay more for energy to curb climate change

By an almost two-to-one margin, 62 percent to 33 percent, Americans say they would pay more for energy if it would mean a reduction in pollution from carbon emissions, according to the Bloomberg National Poll.  More »
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(AFP PHOTO/KAREN BLEIER/FILESKAREN BLEIER/AFP/Getty Images)

Google planning energy push with technology for power companies

Google, a big consumer of electricity for the computer servers that power its services, is looking at ways to transform the century-old utility industry, which has been struggling to adapt to changing demands for power management and production.  More »
Nigeria’s Petroleum Minister Diezani Alison-Madueke said the Organization of Petroleum Exporting Countries reaffirmed the ceiling for a fifth consecutive meeting. (F. Carter Smith/Bloomberg)

OPEC retains output target amid satisfaction with price

OPEC, which supplies about 40 percent of the world’s crude, kept its production target unchanged at 30 million barrels a day, a decision that was widely anticipated.  More »
Bill Easter, former chairman, president and CEO of Denver-based DCP Midstream, has been appointed as a director on Baker Hughes' board.

Baker Hughes appoints two new directors

Baker Hughes said Tuesday its board appointed two new directors, one who led a natural gas midstream company and another whose career has included C-suite appointments in the fast-food, airline and retail industries.  More »
A drilling rig in the Utica Shale. (Chesapeake)

Chesapeake slashing debt with spin off

Chesapeake Energy will wipe $1.1 billion in debt off its books when it spins off its rig business this month, but it probably won’t have any more silver bullets as it works to restore its balance sheet, analysts said Tuesday.  More »
Tanker cars full of U.S.-produced oil are helping supply East Coast refineries. (AP Photo/Nati Harnik, File)

Trains full of crude boost US share in refiners’ mix

East Coast refiners are using less imported oil, as trains deliver crude from the prolific Bakken Shale in North Dakota.  More »
The Puma AE (All Environment) is a drone capable of landing in water or on land. BP and drone-maker AeroVironment will use the Puma AE to survey BP pipelines, roads and equipment nearly Alaska's Prudhoe Bay after winning the first-ever FAA approval for such use. (Courtesy AeroVironment, Inc.)

BP launches first FAA-approved commercial drones over Alaska land

BP has launched a landmark drone program in Alaska after winning the first federal approval to fly unmanned aerial vehicles over land for commercial purposes.  More »
Warren Buffett, chairman and CEO of Berkshire Hathaway Inc. (Photo: Andrew Harrer/Bloomberg)

Buffett to expand energy wager ‘as far as the eye can see’

Berkshire Hathaway Inc., which has struck deals to expand its utility business in Nevada and Western Canada, plans more investment in the industry, in part by betting on renewable power, Chairman Warren Buffett said.  More »
A visitor looks out towards a flare stack on the Oseberg A offshore gas platform operated by Statoil ASA in the North Sea 140kms from Bergen, Norway, on Friday, Jan. 17, 2014. (Kristian Helgesen/Bloomberg)

Norway’s oil lobby told age of no state interference is over

Producers in western Europe’s biggest oil and gas exporter must brace themselves for a new legislative age that will disrupt the status quo, according to Norway’s Green Party.  More »
(Phillips 66)

North American refiners beating European profits by $6 per barrel

North American refiners banked an extra $6 per barrel of oil processed compared to their European counterparts in the first quarter of 2014, continuing a three-year streak of significantly higher profits, according to a U.S. Energy Information Administration analysis of 26 companies.  More »
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