Fuel Fix

Men are silhouetted against burning tankers early Wednesday, Feb. 5, 2014, near Posdino in Kirov region of Russia, some 500 miles northeast of Moscow. 32 tankers were derailed and 12 of them burned. No casualties were reported. (AP Photo/ Ministry of Emergency Situations, Kirov Branch Press Service)

Russia: 32 railcars carrying gas derail, on fire

Russia’s Emergency Situations Ministry says several dozen railcars carrying gas have derailed and caught fire northeast of Moscow, prompting the evacuation of hundreds of local resident.  More »
Sen. John Hoeven, R-N.D., speaks about Keystone XL during a news conference on Capitol Hill, while Sen. Mary Landrieu, D-La., Canadian Amb. Gary Doer and American Petroleum Institute President Jack Gerard look on. (AP Photo/Charles Dharapak)

Lawmakers consider setting deadline for Obama’s Keystone XL decision

A bipartisan coalition of House and Senate members on Tuesday said they are considering an array of options to speed up a final verdict on the proposed Keystone XL pipeline, now that a State Department analysis raised no major environmental objections to the controversial project.  More »
A fireball goes up at the site of an oil train derailment Monday, Dec 30, 2013, in Casselton, N.D. The train carrying crude oil derailed near Casselton Monday afternoon. Several explosions were reported as some cars on the mile-long train caught fire. (AP Photo/Bruce Crummy)

Feds: Oil from Dakota fields improperly classified

“The fines we are proposing today should send a message to everyone involved in the shipment of crude oil: You must test and classify this material properly,” Transportation Secretary Anthony Foxx said.  More »
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Ken Salazar, then Interior Secretary, in his Washington office in April, 2013. (AP Photo/Charles Dharapak)

Former Interior chief to open NAPE with insights on fracking

Salazar is set to speak at the North American Prospect Expo, a conference marked by a frenzy of wheeling and dealing, as landowners from around the globe look to make deals with oil, gas and pipeline companies.  More »
(Photo: Fotolia)

Oil price rises as U.S. stocks stabilize

Benchmark U.S. crude for March delivery was up 76 cents to close at $97.19 a barrel.  More »
Luminant's Big Brown coal power plant (AP photo)

Luminant restarts power units early as natural gas prices rise

Luminant is bringing three coal-fired power units back online two months earlier than originally planned, saying higher natural gas prices now make the plants economic to run.  More »
Shell's state-of-the-art Olympus platform is preparing to journey to the deep-water Gulf of Mexico. (Shell)

Deep-water giant begins production in Gulf of Mexico field (photos)

Royal Dutch Shell said Tuesday it had started production from its Olympus platform, the first of several new platforms expected to push oil production in the Gulf of Mexico to a record level by 2016.  More »
A Canadian Pacific Railway Ltd. train transporting oil leaves Hardisty, Alberta, Canada. (Brett Gundlock/Bloomberg)

Canadian group pitches Alaska rail line for oil sands

A Vancouver-based group is proposing a 1,600-mile railroad to transport bitumen from Alberta’s tar sands to Delta Junction, where the project’s creators hope to tap into TAPS, the Trans-Alaska Pipeline System.  More »
A BP company logo sits on display on the forecourt of a gas station operated by BP in London. (Chris Ratcliffe/Bloomberg)

BP quarterly profit falls as divestments impact income

BP’s profit fell 30 percent in the fourth quarter as it felt the impact of its multibillion-dollar divestment program, weakened refining income, the company reported Tuesday.  More »
(AP Photo/Mike Groll, File)

Property owners threaten second suit over delay on fracking study

A coalition of property owners announced that it will sue New York state over its delay in issuing a long-awaited environmental impact statement on hydraulic fracturing unless the state provides a reasonable timeline by Feb. 13 for finalizing the process.  More »
After five years waiting for U.S. approval the need for Keystone isn’t as urgent for companies such as Suncor Energy Inc.  (Brent Lewin/Bloomberg)

Keystone ardor cools as oil sands producers find other routes

Producers have become less reliant on Keystone XL as new rail terminals increase their ability to ship oil on trains. And support has grown for other pipeline proposals, including a separate TransCanada project that would carry crude from Alberta to the nation’s Atlantic Coast.  More »
(Image: Fotolia)

Oil drops on weaker U.S., China manufacturing data

Benchmark oil fell $1.06 to close at $96.43 a barrel.  More »