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

on
(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
Petroleos Mexicanos oil platforms in the Cantarell oil field in the Gulf of Mexico.  (Photo: Pemex/Bloomberg)

Mexico energy reform could bring $1.2 trillion to border towns

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As Mexico moves to open its energy sector to international companies, the new investments and increased activity could mean a bonanza for border towns on both sides, attracting as much as $1.2 trillion in economic activity to the region in the next decade, according to a BBVA Compass economist.
Categories: Latin America

Energy Water Solutions recycling Eagle Ford water for EP Energy

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  Houston-based Energy Water Solutions is recycling water for Eagle Ford Shale operator EP Energy, the company announced Tuesday. The movable water recycling facilities are cleaning produced water – which comes up alongside the well with oil and gas – so that it can be used for hydraulic fracturing. Energy Water Solutions said that the […]
Categories: Uncategorized

A BP company logo sits on display on the forecourt of a gas station operated by BP in London. (Chris Ratcliffe/Bloomberg)

BP to sell off $100M turbine oils business

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Even after selling off billions in assets to pay for oil spill costs, BP is still slimming down.
Categories: Crude oil, Deals
A Canadian Pacific Railway Ltd. train transporting oil leaves Hardisty, Alberta, Canada. (Brett Gundlock/Bloomberg)

Keystone opponents use rail constraints to urge pipeline’s rejection

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Environmentalists are making an unusual argument in their attempt to stop the Keystone XL pipeline: that trains can’t move all the oil out of Canada.
(shankool007/Flickr)

Alaska natural gas project agreement called ‘groundbreaking achievement’

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An agreement with major oil and pipeline companies to advance a liquefied natural-gas project represents a “groundbreaking achievement” for Alaska, says the state’s revenue commissioner.
Categories: Arctic, LNG
(AP file photo/Mary Altaffer)

Natural gas prices rise amid cold weather

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U.S. natural gas prices surpassed $5 per million British units in afternoon trading Tuesday, days after they broke that mark for the first time since 2010, as cold weather kept demand for heating and electricity high.
Categories: Natural gas
The Twiga oil well, operated by Tullow Oil Plc near Twiga, Kenya. (Eduard Gismatullin/Bloomberg)

Kenyan energy bonanza fans violence in arid northern region

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Oil exploration in the north by companies including Tullow Oil Plc and renewable energy developments have fueled the violence between clans in Kenya.
Categories: Africa, Politics/Policy