Fuel Fix

Gas is flared off from Petroleos Mexicanos offshore platforms producing oil in the Gulf of Mexico. (Photo: Susana Gonzalez/Bloomberg)

Mexico oil opening first time since 1938 shows revival

For the first time in 74 years, Mexico may allow private investment in its oil and gas, the third-largest reserves in Latin America.  More »
(Photo: AEI Services)

Chu says efficiency rules could cut need for power plants

U.S. Energy Secretary Steven Chu said tightening efficiency rules on appliances and industry could eliminate the need to build 200 new power stations.  More »
(AP Photo/Diamond Offshore)

Seismic testing hearings scheduled in Wilmington

The federal government is hearing from North Carolina residents on surveying for oil and natural gas off the Atlantic coast.  More »
Greek Defence Minister Panos Beglitis, left, and his Cypriot counterpart Dimitris Iliadis speak at a press conference Athens. Both defended Cyprus' legal right to drill for fossil fuels off its southern coast, despite Turkey's strong opposition. (AP Photo/Petros Giannakouris)

Turkey starts oil, gas search in north Cyprus

Turkey began exploratory drilling for oil and gas Thursday in the breakaway north of ethnically divided Cyprus, heightening a dispute over who is entitled to the Mediterranean island’s potential fuel riches.  More »
The Deepwater Horizon oil rig burns in the Gulf of Mexico on April 21, 2010. (AP file photo/Gerald Herbert)

Judge leans toward preliminary OK of BP settlement

U.S. District Judge Carl Barbier said during a hearing Wednesday in New Orleans that he plans to rule within a week.  More »
A sign marks the entrance of the secluded Exxon Mobil corporate headquarters in Irving, Texas. (AP file photo/LM Otero)

Exxon Mobil, Chevron raise their quarterly dividends

Exxon Mobil Corp. will now pay its shareholders $10.75 billion in dividends per year, according to Standard & Poor’s, up from $9 billion  More »
(Photo: Fotolia)

Oil prices rise on Fed’s brighter U.S. outlook

Benchmark West Texas Intermediate crude added 57 cents to $104.12 per barrel in New York.  More »
Employees of National Oilwell Varco demonstrate the workings of an oil rig at their Galena Park yard on the Houston Ship Channel where they outfit rigs for land and sea. Photographed April 28, 2008 in Galena Park. ( Eric Kayne / Chronicle )

National Oilwell Varco profit climbs 49 percent

The company, which designs and manufactures equipment for oil and gas drilling, reported net income of $606 million.  More »
A contractor closes a valve on a tanker truck at a Range Resources hydraulic fracturing operation in Pennsylvania. (AP Photo/Keith Srakocic)

‘Rogue’ shale cracks beyond 600 meters unlikely

Hydraulic fracturing to increase gas output has a fraction of a 1 percent chance of causing unintended cracks in the earth beyond 600 meters (656 yards), according to research in Marine and Petroleum Geology.  More »
Sen. John Hoeven, R-N.D., and former Interior Secretary Ken Salazar discuss North Dakota's oil boom after visiting a rig drilling wells in the Bakken formation for Newfield Exploration Co. (Photo: Jennifer A. Dlouhy / Houston Chronicle)

Salazar: Feds still tweaking hydraulic fracturing rules

For months, the Obama administration has been preparing to unveil new regulations governing hydraulic fracturing on federal lands, but Interior Secretary Ken Salazar said the mandates are still being refined. American Indian tribes also complain they weren’t adequately consulted over the planned rule.  More »
(Photo: Flickr, Caston_Corporate)

Wilson’s Halcon agrees to buy GeoResources for $972 million

Halcon Resources Corp., the oil and natural-gas producer run by former Petrohawk Energy Corp. head Floyd C. Wilson, agreed to buy GeoResources Inc. in a cash-and- stock takeover that values the company at $972 million.  More »
A Chesapeake Energy drilling rig (Photo: Chesapeake Energy)

Chesapeake gas well failure prompts evacuation near Douglas

Several dozen residents near Douglas have evacuated because of a problem at a natural gas well.  More »
This image provided by BP's spillcam on June 6, 2010 shows oil leaking out of the Macondo well head in the Gulf of Mexico. (AP file photo/BP)

Steffy: BP engineer shouldn’t be the last to be indicted

If it hadn’t been for the leg irons and handcuffs, Kurt Mix might have looked as if he’d come straight from the office.  More »
Oil pumps work at sunset Monday, Jan. 2, 2012, in the desert oil fields of Sakhir, Bahrain, in the Persian Gulf. (AP Photo/Hasan Jamali)

Iran considers halting nuclear expansion to avert EU oil embargo

Iran is considering a Russian proposal to halt the expansion of its nuclear program in order to avert new sanctions, the country’s envoy in Moscow said.  More »
(AP Photo/Mark Lennihan)

Hess Corp. 1st-quarter profit declines 41 percent

Hess Corp. said today that first-quarter net income dropped 41 percent when compared with a year-ago quarter that included a $310 million gain from asset sales.  More »