Fuel Fix

(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.

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

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(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

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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

    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

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    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
A pro-Keystone XL ad from the American Petroleum Institute.

Study: Keystone carbon pollution more than figured

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The much-debated Keystone XL pipeline could produce four times more global warming pollution than the State Department calculated earlier this year, a new study concludes.
LLOG Exploration Co.'s "Delta House" floating production system will eventually connect to a pair of oil fields named after characters from the 1978 comedy "Animal House." (LLOG).

Gulf oil field names follow quirky, creative system

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As drilling activity has increased in the Gulf of Mexico over the decades, geologists have had to push the envelope and develop even more distinct labels for their finds

President Vladimir Putin. (AP Photo/RIA-Novosti, Alexei Druzhinin, Presidential Press Service)

Russia starts drilling its northernmost oil well

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The Russian-American project comes despite deteriorating relations between Washington and Moscow over the crisis in Ukraine, in which each side has hit the other with sanctions.
The United Kalavryta, shown in the Gulf in late July, about 60 miles off Galveston's coast. (Courtesy: U.S. Coast Guard)

Tanker carrying disputed crude hasn’t moved or unloaded oil

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A tanker remains anchored off Galveston two weeks after it arrived carrying 1 million barrels of crude it can’t unload because of a dispute involving ownership of oil produced in Iraq.
pemexlogo

One killed in Pemex refinery fire

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At least four accidents have occurred at the Ciudad Madero refinery this year, including a fire at a storage tank on July 22 that injured nine Pemex workers.
Oil Barrels

Brent crude declines as U.S. hits militants in Iraq

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However, West Texas Intermediate rose 31 cents to $97.65 a barrel on the New York Mercantile Exchange.
Categories: Crude oil, Markets
(Image: Fotolia)

Houston drilling services company launches $110 million IPO

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Houston-based drilling services company Independence Contract Drilling Inc. launched its initial public offering this week, seeking $100 million.
Categories: Deals