Fuel Fix

(Photographer: Andrey Rudakov/Bloomberg)

Shell to ax thousands of jobs amid $7 billion in spending cuts

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The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”

Shell to ax thousands of jobs amid $7 billion in spending cuts

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(Photographer: Andrey Rudakov/Bloomberg)
The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”
Anadarko Petroleum Corporation CEO Al Walker, gives a speech after his company won top ranked large employer during the Houston Chronicle's Top Workplaces Awards Gala, Thursday, Nov. 8, 2012, in Houston. (Nick de la Torre/Houston Chronicle)

Anadarko CEO: Outlook still uncertain for shale comeback

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Earlier in the year, before initial declines in service costs, Anadarko had estimated it would take $3 billion in capital expenditures to keep production levels flat. Now, Walker said, it would take about $2.7 billion, and there is still room for improvement.

A 7-megawatt wind turbine, a pilot project led by Marubeni Corp. and funded by the Japanese government, stands at a port in Onahama, Fukushima prefecture, Japan, on Monday, June 22, 2015. The new turbine will join a smaller 2-megawatt model, which has been generating power at the project about 20 kilometers (12 miles) off the coast of Fukushima since November 2013. Photographer: Noriyuki Aida/Bloomberg

Foundations for first U.S. offshore wind farm head for Rhode Island

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Deepwater Wind is building a five-turbine wind farm off Block Island, with the ability to power 17,000 homes as early as next year.
Categories: Electricity, Wind
An Iranian man walks past a mural displaying the Iranian map adorned in the colours of the country's national flag, on June 29, 2015 in Tehran. Despite agreeing the outlines of a nuclear agreement on April 2, the final talks between Iran and six powers led by the United States on turning it into a binding accord have hit difficulties on reaching a deal which would lift sanctions, paving the way for foreign investment to flow back, in exchange for curbs on Iran's nuclear activities. AFP PHOTO/BEHROUZ MEHRIBEHROUZ MEHRI/AFP/Getty Images

Iran takes hard line on inspections, sanctions at nuke talks

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Speaking to reporters in Vienna, where diplomats are trying to clinch a comprehensive nuclear pact, a senior Iranian negotiator said the U.N. nuclear agency’s standard rules governing access to government information, sites of interest and scientists should be sufficient to ensure that Iran’s program is solely for peaceful purposes.
Categories: Nuclear, Politics/Policy

(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.
(Lucas Schifres/Bloomberg)

Bullish inventory data boosts natural gas prices

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Benchmark natural gas futures, for delivery at Louisiana’s Henry Hub, opened slightly higher and held onto gains through Thursday.
Categories: Natural gas
Texas Gov. Greg Abbott (Chris Kleponis/Bloomberg News)

Texas to get $750 million from BP oil spill settlement

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Texas Gov. Greg Abbott said in the statement that the sum would allow Texas “to reinvest in the Gulf community and reinvigorate the economic and environmental health of the region.”
Categories: Gulf oil spill
In this April 2010 file photo, oil can be seen in the Gulf of Mexico, more than 50 miles southeast of Venice on Louisiana's tip, as a large plume of smoke rises from fires on BP's Deepwater Horizon offshore oil rig. (AP Photo/Gerald Herbert, File)

BP to settle Deepwater Horizon claims for $18.7 billion

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BP has struck a deal to settle all federal, state and local claims against it for its role in the Deepwater Horizon oil spill for $18.7 billion. It would pay out that sum over 18 years, BP said Thursday.
(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