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
(Kristian Helgesen/Bloomberg)

Aboard a Statoil North Sea platform (photos)

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Statoil believes the nation’s oil and gas output can remain at current levels until 2025 and possibly beyond, even as it tightens spending amid rising costs.
Categories: Europe, featured, Offshore
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Shell sells stake in massive Australian gas project

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Shell says it has agreed to sell its stakes in an Australian liquefied natural gas project to the Kuwaiti Foreign Petroleum Exploration Company for $1.1 billion.
Categories: Australia, LNG

Welders work on a joint between two sections of pipe during construction of Keystone XL's southern leg in Prague, Oklahoma. (Daniel Acker/Bloomberg)

Canadian musician targets Keystone pipeline in anti-oil sands tour

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Canadians need constructive dialog about energy matters based on facts rather than “ill-informed opinions and inflammatory rhetoric from protest-anthem rock stars,” the Canadian Association of Petroleum Producers said in a statement about the tour.
Categories: Canada, Keystone XL

Some Key Takeaways from BP’s Latest Outlook to 2035

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Here are the key observations and takeaways from BP’s recently released 20-year forecast on global energy.
General Electric Co. CEO Jeff Immelt (right) waits for the start of the company's annual shareholders meeting in Erie, Pa. in 2008. (AP Photo/Tony Dejak, file)

GE to buy Cameron compressor business for $550M

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General Electric wants to stamp its iconic logo on more equipment used in North American shale plays and downstream operations.
Categories: Deals, Shale
(martinluff/Flickr)

Surge in quakes near Cushing storage hub doesn’t worry oil companies

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One or two earthquakes could be felt near Cushing prior to 2009, according to an Oklahoma seismologist. Now it is more like dozens a month.
(Photo: freegreatpicture.com)

Gas exporters group discussed forming a bank, new head says

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The new head of the group s seeking to foster closer cooperation just as international rivalry increases.
Categories: LNG, Middle East