FuelFix Newslinks |06.15.11|

Oil and gas companies increased reserves, revenue in 2010

Posted on June 15, 2011 at 5:19 pm by Simone Sebastian in Politics/Policy

The industry’s 50 largest companies saw their greatest annual growth in domestic oil and gas reserves in at least five years, according to a study by Ernst & Young. The Permian Basin in West Texas and the Eagle Ford play in South Texas in particular benefited from growing interest in shale gas. More »

Oil tumbles below $95

Posted on June 15, 2011 at 2:51 pm by Bloomberg in Crude oil

Crude futures dropped as much as 5.4 percent on growing signals the U.S. economy is slowing and on concern that Europe’s debt crisis will deepen, reducing fuel consumption. More »

Biodiesel industry to run national ads

Posted on June 15, 2011 at 12:13 pm by Brett Clanton in Refining, Social

The ad, set in Dallas, touts biodiesel as a clean-burning alternative to petroleum-based diesel fuel that can help reduce the nation’s dependence on fossil fuels, create jobs and slash tailpipe emissions. More »

Energy experts: Don’t cut Energy Info Admin budget

Posted on June 15, 2011 at 11:13 am by Tom Fowler in Chemicals, Crude oil, Environment, Natural gas, Pipelines

The Energy Information Administration is a key source for unbiased energy data, says a gaggle of government and industry experts in a letter urging Congress not to cut the EIA’s budget. More »

Oil spill cleaned up, but source still unknown

Posted on June 15, 2011 at 10:51 am by Jennifer A. Dlouhy in Accidents, Crude oil, Social

Crude floating near Venice, La., last week has disappeared, but federal investigators are still searching for the source of that oil. More »

Joe Barton: Consumers, not White House, should decide what light bulbs to use

Posted on June 15, 2011 at 10:17 am by Lauren French in Social

The Texas Republican is trying to repeal the 2007 energy independence act that created new standards for incandescent light bulbs. More »

House panel approves bill to speed up Keystone XL pipeline

Posted on June 15, 2011 at 10:11 am by Jennifer A. Dlouhy in Crude oil, Pipelines, Politics/Policy, Social

Republicans pushed legislation through a House panel today that would give the Obama administration a Nov. 1 deadline to decide on whether to approve or deny the pipeline that would deliver Canadian oil sands crude to Gulf Coast refineries. More »

Chevron bets on volcanoes in Indonesia

Posted on June 15, 2011 at 8:23 am by Bloomberg in Asia

Chevron pioneered geothermal energy 20 years ago in Southeast Asia’s biggest economy, but it’s about to see competition as international firms lead an investment boom in Indonesia that may climb to more than $30 billion. More »

OPEC plays down price fears

Posted on June 15, 2011 at 7:14 am by WSJ in Crude oil, Social

OPEC’s secretary general brushed aside fears of a repeat of the 2008 oil-price spike that contributed to the recession, saying higher spare capacity made producers better prepared to respond to demand. (Via W$J) More »

Libyan rebels seek $3.5B in aid as oil production stops

Posted on June 15, 2011 at 6:57 am by Bloomberg in Crude oil, Middle East

Rebel officials are visiting friendly Arab and European nations for credit lines and loans. Libya was producing as much as 1.4 million barrels a day of crude before armed rebellion halted oil exports. More »

Nat gas production at record as shale puzzle solved

Posted on June 15, 2011 at 6:36 am by Bloomberg in Natural gas, Shale

U.S. producers are pumping the fuel at a record pace as advances in drilling techniques help to offset a drop in the number of rigs, signaling no respite for the world’s worst-performing commodity in the past year. More »