Fuel Fix

Exxon Mobil Corp. CEO Rex Tillerson speaks to 2015 IHS Energy CERAWeek. (Billy Smith II/Houston Chronicle)

Exxon Mobil earnings fall 52 percent

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Categories: Crude oil, featured
Lower prices cost oil and gas giant Exxon Mobil’s upstream business $4.5 billion, the company said.

Exxon Mobil earnings fall 52 percent

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Categories: Crude oil, featured
Exxon Mobil Corp. CEO Rex Tillerson speaks to 2015 IHS Energy CERAWeek. (Billy Smith II/Houston Chronicle)
Lower prices cost oil and gas giant Exxon Mobil’s upstream business $4.5 billion, the company said.
(Photographer: Andrey Rudakov/Bloomberg)

Shell to ax thousands of jobs amid $7 billion in spending cuts

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The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”

Cleanup crews work in Lac-Megantic, Quebec after a runaway oil train derailment and explosion on July 9, 2013. (AP Photo/The Canadian Press, Ryan Remiorz)

Train explosions prompt companies to upgrade oil tankers voluntarily

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Oil companies are rolling ahead of federal regulators by moving swiftly to replace old tank cars following accidents involving crude-carrying trains.
Categories: Politics/Policy, Rail
Oil flows out of the top of the transition spool, which was placed into the gushing Macondo wellhead at the site of the Deepwater Horizon oil spill in the Gulf of Mexico in July 2010. AP Photo/BP PLC, File)

Feds ask judge to streamline BP trial penalty proceedings, order oil spill harmful

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U.S. authorities asked a federal judge Thursday to streamline the “penalty phase” of the BP oil spill trial by ordering that the 2010 disaster caused serious harm to the environment, residents and businesses around the Gulf of Mexico.

President Barack Obama speaks at the TransCanada Pipe Yard in Cushing, Okla. in 2012.  (AP Photo/LM Otero)

Judge’s ruling gives Obama an out on Keystone XL

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A Nebraska judge’s decision throwing out the Keystone XL pipeline route in the state may push President Barack Obama’s final decision on the contested project until after the midterm congressional elections.
(AP Photo/LM Otero)

Brazil aims to be No. 1 in Latin American wind energy

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Brazil could have more than 20,000 megawatts of wind power capacity in less than 10 years, according to a recent report by Navigant Research. That’s a dramatic increase from the roughly 3,000 megawatts of current wind generation capacity in the Latin American country.
Categories: Latin America, Wind
Great Britain Prime Minister David Cameron visits the Total Oil Depot shale drilling site in Gainsborough, Lincolnshire in England on January 13, 2014.  French company Total confirmed it will invest about £30 million in the shale drilling project in Gainsborough, and it is believed to be the first major energy firm to invest in U.K. fracking. Prime Minister David Cameron indicated councils would receive a significant financial boost from the business rates collected from controversial shale gas schemes, with local authorities receiving 100 percent of the business rates, double the usual 50 percent. (WPA Pool/Getty Images)

Shale gas halted in UK by six-month permit wait

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In Texas it takes seven days to get permission to use hydraulic fracturing to drill for oil and gas. In the U.K. the wait is six months.
Categories: Europe, Shale
Power lines and pump jacks dot the horizon in the Permian Basin just west of Midland, Texas. The basin extends into New Mexico. (San Antonio Express-News)

Diamondback buys more Perman Basin acres

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HOUSTON – Diamondback Energy plans to add an additional 1,858 acres in the Permian Basin to its holdings, the second such deal it announced this week.
Categories: Deals
U.S. President Barack Obama (left), Mexican President Enrique Peña Nieto, and Canadian Prime Minister Stephen Harper shake hands at the end of a news conference after the seventh trilateral North American Leaders Summit Meeting in Toluca, Mexico, Wednesday Feb. 19, 2014. (AP Photo/Jacquelyn Martin)

Obama pressed by neighbors on sensitive issues

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President Barack Obama on Wednesday vowed to press ahead with stalled efforts to expand trade agreements for the Americas into Asia, but made no promises to frustrated Canadian leaders about his long-anticipated decision on the Keystone XL pipeline.