Fuel Fix

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Swift Energy stops oil flow after boat hit shut-in well

Swift Energy Co. said today that as of Thursday afternoon it had brought under control an outflow of water, oil and natural gas from a shut-in wellhead in the shallow waters of its Lake Washington field in Plaquemines Parish, Louisiana.  More »
Former BP Chief Executive Tony Hayward (center), current BP CEO Robert Dudley (right), and then-Chairman and President of BP America Lamar McKay (left) leave the White House following a meeting with U.S. President Barack Obama in 2010. McKay is now head of BP's upstream unit. Hayward is no longer with the company. (Win McNamee/Getty Images)

Steffy: BP habitually shields leadership

Houston Chronicle columnist Loren Steffy responds to testimony from BP’s former safety official, who said the company’s internal report didn’t examine management’s culpability in the Gulf oil spill disaster.  More »
Shareholders have criticized Chesapeake’s board for failing to rein in what they’ve seen as Chief Executive Officer Aubrey McClendon’s risk-taking and overspending at the company. (F. Carter Smith/Bloomberg )

Chesapeake under investigation by SEC

Chesapeake Energy Corp. acknowledged Friday that it had been subpoenaed by the U.S. Securities and Exchange Commission and other authorities related to allegations of conflicts of interest and collusion.  More »

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Texas electric supply will be ‘very tight,’ grid operator says

Electric Reliability Council of Texas, the state’s grid operator, said there was a “significant chance” it would have to issue emergency alerts and ask consumers to reduce energy use on some days this summer.  More »
(AP Photo/Mark Lennihan)

Steffy: Houston may energize New York oil company

For investors, it’s a painfully familiar story: an entrenched management, a boardroom full of cronies and a languishing stock price. This time, though, the remedy may be an infusion of Houston’s energy expertise.  More »
A polar bear in Alaska's Arctic National Wildlife Refuge. (AP file photo/Subhankar Banerjee)

Lawsuit challenges Alaska petroleum reserve access

An Army Corps of Engineers permit granting ConocoPhillips access to leases within the National Petroleum Reserve- Alaska has been challenged in federal court by seven residents of Nuiqsut, the only village within the reserve.  More »
Exxon natural gas wells sit off the coast of Dauphin Island, Ala., on Wednesday, Dec. 20, 2000. Exxon operates 13 wells off the Alabama coast. (AP Photo/Dave Martin)

Exxon, Petrom may drill new Black Sea well at end-2013

Exxon Mobil Corp. (XOM) and OMV Petrom SA (SNP) plan to drill a second well in the Neptun block, which they are jointly exploring in the Black Sea, as early as the end of this year, said John Knapp, the head of Exxon’s local unit.  More »
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OPEC February output rises for first time since August

OPEC crude output rose for the first time in six months as rising Libyan production outpaced a cut by Saudi Arabia, which has implemented a program aimed at curbing excess supply and supporting prices, a Bloomberg survey showed.  More »
The port of Vancouver, Canada’s busiest, may issue debt to help finance the largest expansion in its history as the country’s resource companies move to boost shipments amid escalating Asian demand for coal, grain and oil. Brent Lewin/Bloomberg

Oil flowing west to Asia pushes Vancouver port growth

The port of Vancouver, Canada’s busiest, may issue debt to help finance the largest expansion in its history as the country’s resource companies move to boost shipments amid escalating Asian demand for coal, grain and oil.  More »
(AP Photo/Greg Baker)

Petrobras in talks with Sinopec to develop Brazil refineries

Petroleo Brasileiro SA (PETR4), the world’s most indebted publicly traded oil company, is in talks with China Petroleum & Chemical Corp. (600028) to build a refinery in Brazil to meet growing domestic demand, Brazil’s energy minister said.  More »
(Photo: Loozrboy/Flickr)

W.Va. House approves steeper pipeline safety fines

Fines would soar for safety violations involving nearly three-fourths of West Virginia’s natural gas pipelines under legislation approved 91-7 Thursday by the House of Delegates.  More »
Sunset at the Grand Canyon, seen from Yavapai Point ((Photo: Tobias Alt)

Judge to hear suit over Grand Canyon mining ban

A federal judge in Phoenix will hear arguments Friday on a request to overturn the uranium mining ban on 1 million acres near Grand Canyon National Park.  More »
A drilling rig aims for oil in the Bakken Shale near Watford City, N.D. (AP Photo/James MacPherson)

Oil-rich ND ‘well-positioned’ for federal cuts

Oil-rich North Dakota is well positioned to weather automatic federal spending cuts if it is forced to do so, the state’s top budget official said.  More »
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Feds charge 15 with scamming BP oil spill fund

Fifteen people were charged Thursday with felony fraud for allegedly filing bogus claims for help after the 2010 BP oil spill in the Gulf of Mexico.  More »
A natural gas drilling site in the Barnett Shale. (AP file photo/Donna McWilliam)

Barnett Shale gas to remain profitable, study finds

A study of the Barnett Shale found that, while production from the North Texas field will decline through 2030, there’s still an enormous resource to tap profitably, even at relatively low natural gas prices, according to a study by the University of Texas at Austin.  More »