Fuel Fix

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)

Pennsylvania governor advances tougher gas drilling rules

The proposal is the first signal from Gov. Tom Wolf’s administration of how it will approach the natural gas industry after the Democrat campaigned last year on a promise to toughen state regulation of the industry.  More »
(oilfieldservicesgrandeprairie.com)

Oil tool suppliers cut another 360 jobs in Texas

Baker Hughes led the pack, cutting 191 jobs last month at separate facilities in Kilgore and Snyder, Texas, according to the Texas Workforce Commission. That’s part of the firm’s plan to ax 7,000 jobs in the first quarter.  More »
A Sasol Ltd. employee enters the company's headquarters in Johannesburg, South Africa, on Monday. Sept. 13, 2010. Photographer: Nadine Hutton/Bloomberg

Sasol cutting 1,500 jobs to cope with low oil

The firm is cutting jobs through voluntary retrenchments or early retirements, and it has stopped hiring new workers and isn’t filling vacancies for now, Sasol CEO David Constable said in written statement Monday.  More »
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Jeremy Rediger, a propane delivery driver for Michlig Energy, makes a delivery to a residence outside Annawan, Illinois, U.S., on Thursday, Nov. 20, 2014. Photographer: Daniel Acker/Bloomberg

Low natural gas prices aren’t reaching consumers

The benchmark futures price for natural gas, set at Louisiana’s Henry Hub, has fallen from more than $4 at the end of last year to under $3 currently.  More »
(Jason Alden/Bloomberg)

BP discovers second big natural gas reservoir in Egypt

The British oil giant’s new gas discovery contains more than 5 trillion cubic feet of natural gas equivalent.  More »
Photographer: Ty Wright/Bloomberg

Houston’s Dune Energy seeks bankruptcy protection

Dune Energy, a Houston-based exploration and production company, filed for bankruptcy protection in federal court Sunday.  More »
(Eddie Seal/Bloomberg)

Downgrades, offerings add $30 billion to energy junk bonds

The energy sector’s high-yield bonds – so-called “junk bonds” considered at risk of default – have climbed to $247 billion in the last two months, the largest share of any industry with 17.5 percent of high-yield bond market.  More »
(AP Photo/Jean Revillard, Solar Impulse)

Solar-power plane airborne on historic round-the-world trip

Some legs of the trip, such as over the Pacific and Atlantic oceans, will mean five days and five nights of flying solo.  More »
(AP File Photo/Hussein Malla)

4 Filipinos among 9 foreigners abducted from Libya oil field

The Al-Ghani oil field had suspended operation for two weeks prior to the attack and most of the workers had left by the time the gunmen arrived there, he added.  More »
(AP Photo/The San Antonio Express-News, Bob Owen)

Hedge funds are losing faith in oil rally while inventory swells

Oil producers are spending less, idling rigs and delaying wells to stem output that the government predicts will reach a four-decade high this year.  More »
Trucks drive south on Highway 85 near Williston, N.D., in the state's oil patch region. (AP Photo/Elijah Nouvelage, File)

$1.1 billion in fast-track funding disbursed to North Dakota communities

Gov. Jack Dalrymple signed the bill last month at a ceremony at the state Capitol.  More »
In this Nov. 17, 2014 file photo, smoke rises from the Syrian city of Kobani, following an airstrike by the U.S.-led coalition, seen from a hilltop outside Suruc, on the Turkey-Syria border. The mass beheadings of Egyptian Christians by militants in Libya linked to the Islamic State group have thrown a spotlight on the threat the extremists pose beyond their heartland in Syria and Iraq, where they have established a self-declared proto-state. Militants in several countries - including Libya, Egypt, Algeria, Yemen and Saudi Arabia - have pledged allegiance to IS leader Abu Bakr al-Baghdadi. (AP Photo/Vadim Ghirda, File)

Activists say airstrike hits Islamic State-held oil refinery

Video from the Turkish Dogan News Agency showed the strikes Sunday night, which saw an enormous fireball engulf the refinery.  More »
Abdalla El-Badri, general secretary of the OPEC (Photo: Chris Ratcliffe/Bloomberg)

OPEC official says oil market to return to balance later this year

OPEC Secretary-General Abdalla El-Badri also urged OPEC nations to diversify their economies, many of which rely mostly on oil revenue.  More »
Smoke erupts from the scene of a train derailment Thursday, March 5, 2015, near Galena, Ill. A BNSF Railway freight train loaded with crude oil derailed. (AP Photo/Telegraph Herald, Jessica Reilly)

Railroads work to recover from derailments as group calls for oil train ban

Canadian National Railway Co. is building a 1,500-foot long track to bypass a burning train that derailed Saturday in northern Ontario, while BNSF Railway Co. crews were working Sunday to reopen track in rural Illinois after a train carrying oil derailed three days ago.  More »
(Rovanto/Flickr)

Train carrying crude oil derails in Canada

The derailment involved 10 train cars — some of which caught fire and entered the Mattagami River System, police said  More »
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