Fuel Fix

(Photographer: Daniel Acker/Bloomberg)

Enbridge to build Gulf of Mexico pipeline

Enbridge Inc. has announced it will build an offshore crude oil pipeline extending to Hess Corporation’s Stampede Gulf of Mexico project.  More »
API President and CEO Jack Gerard at CERAWeek in March 2014 (Photographer: F. Carter Smith/Bloomberg)

Oil group to focus on midstream issues

The American Petroleum Institute’s decision to create a new midstream department focusing on that segment of the oil and gas industry follows the lead of regulators, executives and environmentalists who also are increasingly involved in energy infrastructure.  More »
(Brittany Sowacke/Bloomberg)

Swift Energy cuts annual budget 75 percent

Swift shares have fallen 79 percent since June 20, when oil prices peaked in 2014.  More »
(AP file photo/Hasan Jamali)

U.A.E. sees oil drop hurting shale drillers, not OPEC

The Persian Gulf nation will stick with a plan to boost its capacity to 3.5 million barrels a day in 2017, in spite of the global supply glut.  More »
U.S. Oil Rigs Increase Exploration, Defying Predictions

Oil drops below $45; U.S. stockpiles may speed collapse

Goldman Sachs Group Inc. said crude needs to drop to $40 a barrel to “re-balance” the market, while Societe Generale SA also reduced its price forecasts.  More »
Senate Majority Leader Mitch McConnell (R-KY) (2-L) speaks to the media after the Republican policy luncheon at the U.S. Capitol, January 7, 2015 in Washington, DC. Leader McConnell spoke about various issues before the Senate including the Keystone Pipeline. Also pictured is (L-R), Sen. Roger Wicker (R-MS), Sen. John Barrasso (R-WY) Sen. John Thune (R-SD), Sen. Roy Blunt (R-MO), and Sen. John Cornyn (R-TX). (Photo by Mark Wilson/Getty Images)

On Senate’s to-do list: Keystone, climate change, crude exports

The Senate is gearing up to debate a host of energy industry priorities to start 2015.  More »
(JEFF PACHOUD/AFP/Getty Images)

AAA: $2 gasoline hits almost a dozen states

The price for a gallon of gasoline in Texas has fallen 8 cents since Jan. 5 to reach $1.90, AAA said.  More »
(Photographer: Eddie Seal, Bloomberg)

Investment firm lays off 150 employees from oil field companies

OFS Energy’s layoffs come after oil field service companies like Halliburton and Hercules Offshore have announced sizable layoffs in November and December.  More »
FRACKING SAND

Sand boom headed for uncertainty, Moody’s says

With crude prices down more than 55 percent since the summer of 2014, sand producers are facing uncertainty about how much of the material will be needed in the next few years.  More »
A section of the Alyeska Pipeline Service Company 800 mile Trans Alaska Pipeline crosses a mountain ridge near Delta Junction, Alaska, Wednesday, August 17, 2005.  (Photographer: Daniel Acker/Bloomberg News)

Despite declining oil prices, $45 billion Alaska LNG export project moves forward

The project aims to extract North Slope natural gas and move it through an 800-mile pipeline for loading onto tankers bound for Asia.  More »
OIL GAS RIG

Canadian oil company cuts more than $2 billion from 2015 budget

It joins a slew of competitors of various sizes, from Marathon Oil to Continental Resources to ConocoPhillips, who have all cut their planned 2015 capital budgets as well.  More »
(Photographer: Ty Wright/Bloomberg)

U.S. drivers start 2015 with cheapest gas in six years

Gasoline at the pump is at the lowest since April 2009, when prices were $2.0549 a gallon.  More »
(Photographer: Brittany Sowacke/Bloomberg)

Goldman Sachs: Oil companies could default if crude sticks to $40

Analysts say oil traders Monday were also reacting to news that this week Libyan factions are starting indirect negotiations in Geneva and that Iran is looking to jumpstart nuclear talks with the United States and other western powers.  More »
Texas Gov. Greg Abbott (Chris Kleponis/Bloomberg News)

Plunging oil prices take toll on Texas budget outlook

Republican Comptroller Glenn Hegar said his estimate expects “moderate expansion” in the Texas economy while reflecting uncertainties in oil prices..  More »
Photo:  justengineeringschools.com

Oil producers betting on bigger price drop

Companies are hedging more and drilling less amid concern that the biggest slump in prices since 2008 will continue.  More »
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