Fuel Fix

(ALEXANDER KLEIN/AFP/Getty Images

OPEC seen backing Saudi Arabia’s plan to keep supplies elevated

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Crude plunged for eight of nine weeks prior to the group’s November gathering, when the kingdom faced down opposition from the majority of fellow members, who advocated output reductions to tackle a global glut.

OPEC seen backing Saudi Arabia’s plan to keep supplies elevated

on
(ALEXANDER KLEIN/AFP/Getty Images
Crude plunged for eight of nine weeks prior to the group’s November gathering, when the kingdom faced down opposition from the majority of fellow members, who advocated output reductions to tackle a global glut.
Chevron's massive deep water offshore platform is headed to the Gulf of Mexico where it is expected to begin production this year. (Chevron)

Exxon, Chevron clear to bid on Mexican shallow-water blocks

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Mexico forecasts that the opening of the energy industry will bring in $62.5 billion in private investment by 2018 and increase its annual oil output by 500,000 barrels a day in that time.

The Mad Dog platform operates in the Gulf of Mexico. (BP)

BP, ConocoPhillips announce Gulf of Mexico oil discovery

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BP and ConocoPhillips announced a sizable oil discovery at the jointly-owned Gila prospect in the Gulf of Mexico, the two companies announced Wednesday.
Wrecked oil tankers and debris from a runaway train are piled up following a deadly explosion in Lac-Megantic, Quebec, Canada in July 2013. (AP Photo/Surete du Quebec, The Canadian Press)

Railroad involved in fatal Quebec explosion to be auctioned

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As the first trains rolled into a Quebec town devastated by a derailment and fire that killed 47 people, a federal bankruptcy judge approved bidding procedures Wednesday for the auction of the Maine-based railroad that owned the train.
Categories: Legal issues

A cab driver refuels at a gas station in the Brooklyn borough of New York. (Craig Warga/Bloomberg)

Gasoline prices to plummet as supply swells

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U.S. gasoline pump prices are poised to reach their lowest level this year as supply expands to a two-decade seasonal high and winter curbs demand.
Categories: Gasoline, Transportation
(PVCG/Flickr)

Mexico’s congress certifies oil reform approval

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Mexico’s federal congress has certified that 24 of the country’s 31 state legislatures have approved sweeping energy reforms that allow private companies to explore for and produce oil and gas.
(Photo: Fotolia)

Oil gains after Fed decision, drop in supplies

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Benchmark U.S. crude for January delivery gained 58 cents to $97.80 a barrel.
Categories: Crude oil, Gasoline
A BP company logo sits on display on the forecourt of a gas station operated by BP in London. (Chris Ratcliffe/Bloomberg)

BP completes refinery upgrade to use more Canadian crude

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BP has turned on a key new unit to process more Canadian oil sands crude at the company’s largest refinery in Indiana, the British oil giant announced Wednesday.
Categories: Canada, Crude oil, Refining
(Kostas Tsironis/Bloomberg)

Moody’s: Moderate demand will temper power prices in 2014

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The rise of solar power and environmental regulations could pose a threat to the utility industry in 2014 and beyond, according to a new forecast from the credit rating firm.
Categories: Electricity