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BP sells North Sea gas assets to Perenco UK

Oil company BP says it is selling some of its gas assets in the North Sea to Perenco UK for $400 million.  More »
(Image: Fotolia)

Petrobras America sues over broken chain on Gulf oil system

Petrobras America Inc. (PETR4) sued marine chain-maker Vicinay Cadenas SA for at least $180 million over losses allegedly caused by a broken chain that let parts of a floating oil production system sink and drift away in the Gulf of Mexico last year.  More »
Steam rises from stacks at the ConocoPhillips refinery  in Rodeo, Calif. (Justin Sullivan/Getty Images)

EPA to reduce new power plants’ carbon pollution

The Obama administration will press ahead on Tuesday with the first-ever limits on heat-trapping pollution from new power plants, ignoring protests from Republicans who have said the regulation will raise electricity prices and kill off coal, a dominant U.S. energy source.  More »

(AP Photo/Ed Andrieski)

Gas drilling rigs decline in Pa. and nationwide

The number of gas drilling rigs is declining in Pennsylvania and nationwide, due to a combination of low natural gas prices and renewed interest in oil.  More »
The Cushing, Okla., pipeline hub.

Enbridge venture plans oil pipes to Gulf as Keystone blocked

Enbridge (ENB) Inc., the biggest Canadian pipeline company, and Enterprise Products Partners LP (EPD) plan to expand shipments from the northern U.S. to the Gulf Coast as supplies increase from Canada’s oil sands and the Bakken shale in the Northern Plains.  More »
(AP file photo)

Kenya says four exploratory oil wells to be drilled in 2012

The government of Kenya, which yesterday announced its first oil discovery, expects four exploratory wells to be drilled in the country this year.  More »
(Image: SunPower)

Environmentalists sue feds over CA solar project

Three environmental groups have sued the federal government over its handling of a solar project in the Mojave Desert, saying it will harm the desert tortoise and its habitat.  More »
Federal Reserve Chairman Ben Bernanke answers a question from National Press Club president Mark Hamrick. (AP photo)

Oil hovers above $107 on Bernanke comments, Iran

Oil prices hovered above $107 a barrel today after Federal Reserve Chairman Ben Bernanke suggested that the U.S. central bank would continue its policy of low interest rates to help spur job creation and economic growth.  More »
(Photo: Matt Churchill/Flickr)

Senate launches debate on oil industry taxes and gasoline prices

The Senate on Monday launched a high-profile debate on a Democratic plan to block the nation’s five biggest oil companies from taking advantage of a suite of tax breaks.  More »
Workers move a section of well casing into place at a Chesapeake Energy natural gas well site near Burlington, Pa. (AP Photo/Ralph Wilson, File)

Environmentalists challenge trade secret protections for hydraulic fracturing

Environmentalists say Wyoming regulators are improperly approving oil and gas companies’ “overly broad,” boilerplate requests to shield information about the chemicals they use in drilling operations, despite a state regulation requiring the disclosure.  More »
Marathon Oil gas pump (AP Photo/Michael Conroy)

Marathon Oil still expects production growth

Marathon Oil Corp.’s chairman, president and CEO said Monday that the company still expects production at its exploration and production and oil sands mining segments to increase by a combined 5 percent to 7 percent each year through 2016.  More »
(Photo: Maersk)

Deepwater rig day rates top $600K

Rates for deep-water drilling equipment are rising along with increased exploration in Brazil, West Africa and the Gulf of Mexico, Barclays equity research reports.  More »
(AP Photo/Steve Helber)

Has President Obama increased drilling? We FuelFact it

FuelFact is a new project of FuelFix.com. In the runup to the 2012 presidential election, a lot is being said about the rising price of gasoline. We’ll be evaluating these statements, consulting with experts and rating their accuracy.  More »
(Image: Fotolia)

Senate to vote on axing oil industry tax breaks

The Senate is poised to vote today on a plan to block the nation’s five biggest oil companies from taking advantage of a suite of tax breaks.  More »
Prices for three grades of gasoline are posted in front of a service station Wednesday, Feb. 22, 2012, in Bellevue, Wash., near Seattle. (AP Photo/Elaine Thompson)

Houston gas record could be days away

Gasoline prices are likely to reach a record high in Houston in the coming days.  More »