Fuel Fix

(Photo by Eddie Seal for Bloomberg News)

U.S. oil rig count jumps up by a dozen, the first increase in 2015

on
The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.

U.S. oil rig count jumps up by a dozen, the first increase in 2015

on
(Photo by Eddie Seal for Bloomberg News)
The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.
(AP Photo/Gerald Herbert, File)

BP to settle Deepwater Horizon claims for $18.7 billion

on
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

    Jeff Allyn, a derrick hand with Raven Drilling, pauses with a cup of coffee while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota. (Andrew Burton/Getty Images)

    Shale drillers’ safety net is vanishing

    on
    SandRidge, the Oklahoma City-based producer, had about 90 percent of its oil and natural gas liquids output hedged in early 2015, according to a regulatory filing. Next year, the hedges cover less than a third.
    Categories: featured, Shale
(AP Photo/U.S. Geological Survey, S.A. Sonsthagen)

Obama administration delivers big blow to Shell’s Arctic drilling plans

on
The Fish and Wildlife Service said it could not authorize sound from Shell’s planned drilling of wells roughly nine miles apart to disturb walruses in the Chukchi Sea, because a 2013 requirement mandates a 15-mile buffer zone.
Categories: Arctic, Politics/Policy
Kurt Mix arrives at the Hale Boggs Federal Building in New Orleans in December 2013. (AP Photo/Jonathan Bachman)

Former BP engineer should get new trial, appeals court says

on
Prosecutors accused Mix of deleting text messages about the amount of oil flowing from BP PLC’s Macondo well after the 2010 Deepwater Horizon disaster.
Categories: Gulf oil spill

A United Airlines plane sits on the tarmac at San Francisco International Airport on June 10, 2015 in San Francisco, California. (Photo by Justin Sullivan/Getty Images)

United Airlines investing $30 million in biofuels producer

on
United said Tuesday that the investment in Fulcrum BioEnergy Inc. could provide it with up to 180 million gallons of fuel per year.
Categories: Biofuels
A wind farm in West Texas, outside of Roby. (photo courtesy Rational Middle Media)

One of Texas’ biggest winds farms is getting an upgrade

on
North Carolina-based Duke Energy said it will replace the wind farm’s lead acid battery storage system with lithium-ion technology in 2016 for better performance. Duke owns the Notrees Windpower Project that includes 95 wind turbines and generates 153 megawatts of electricity — enough to power 46,000 homes.
(Photographer: Ty Wright/Bloomberg)

Cheapest gasoline in 5 years spurs uptick in summer travel

on
Cheap gasoline prices are causing more drivers to take to the highways, with an estimated 41.9 million people expected to travel more than 50 miles this Independence Day, the highest total since 2007, according to AAA.
Categories: Gasoline
CB&I Chairman and CEO Philip K. Asherman, May 23, 2014 in The Woodlands, TX. (Eric Kayne/For the Chronicle)

CB&I jumps on $1.5 billion Houston petrochem project with Oxy

on
The ethylene cracker project is being constructed by Occidental’s OxyChem subsidiary and Mexichem in the Ingleside Ethylene joint venture near Corpus Christi.
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

Oil prices retake lost ground after markets cool on Greece crisis, Iran deal

on
Oil prices edged up early Tuesday as financial markets cooled down from Monday’s frantic selloff in anticipation of a Greek debt default and as Iran and the West delayed a nuclear pact by a week.