Fuel Fix

oil-drilling-phillips-rig4

U.S. oil rigs drop second time this month as drilling slows

The U.S. oil rig count slipped from a record on slower drilling activity as crude prices declined almost $20 a barrel from the year’s high.  More »
Baker Hughes employees work at a drill site. (Houston Chronicle)

Baker Hughes posts 30 percent profit jump in second quarter

Despite struggles in the U.S. hydraulic fracturing market, Baker Hughes improved its U.S. operations and benefitted from more drilling activity overseas.  More »
Image from Crossroads GPS television advertisement linking President Barack Obama's energy policies with high gasoline prices.

Downgrading the gasoline crisis watch

About this time, drivers were forecasted to be paying $5 and some boastful analysts predicted $6 per gallon of gasoline.  More »
(Image: Fotolia)

Air permit for Las Brisas plant needs more work

An air permit for a planned coal-fired power plant on the Texas coast is expected to face another review by regulators.  More »
(Photo: Fotolia)

NM fuel spill threatens Albuquerque water supply

Environmentalists call it the largest threat to a city’s drinking water supply in history, as much as 24 million gallons of jet fuel – or twice the size of the Exxon Valdez oil spill – seeping into an underground aquifer and steadily toward this drought-stricken city’s largest and most pristine water wells.  More »
A sign tower reaches toward the sky at the entrance to Schlumberger's Sugar Land campus. (AP file photo/Pat Sullivan)

Schlumberger’s earnings up, despite weaker fracturing demand

Schlumberger’s second-quarter earnings rose 4.8 percent from a year ago, boosted by international growth despite falling demand for its hydraulic fracturing services, the company said today.  More »
EPA Administrator Lisa Jackson

Lisa Jackson talks jobs, future president with Stephen Colbert

EPA Administrator Lisa Jackson gave a satirical interview with Stephen Colbert on Thursday night about her agency’s mission and fired back at critics who claim the EPA is killing jobs with new regulations.  More »
Chevron hired an investment banker to gauge buyer interest in its Hawaiian operations.
(AP Photo/Lynne Sladky)

Chevron will seek oil in Iraq’s Kurdish region

Chevron Corp. will hunt for oil in northern Iraq’s Kurdish region — the company’s first major effort in the volatile country since the 2003 invasion that toppled Saddam Hussein.  More »
A fuel delivery truck leaves Arkansas Terminaling and Trading storage facility after taking on a load for gasoline and diesel fuel in North Little Rock, Ark. For oil and gas companies, the math was simple in the second quarter: lower prices equal lower profits.With gasoline prices averaging more than $3.40 per gallon nationwide, and oil around $90 a barrel, it may be hard to believe oil companies are under duress. Most will report profits measured in the billions of dollars for the quarter.(AP Photo/Danny Johnston)

Lower prices slice profits for oil, gas companies

For oil and gas companies, the math was simple in the second quarter: lower prices equaled lower profits.  More »
(AP file photo/Paul Sakuma)

GE profit tops estimates as finance, energy earnings grow

General Electric Co. (GE) earnings topped analysts’ second-quarter estimates, as profit growth at the finance and energy units overcame a drop in wind-turbine orders.  More »
The Motiva refinery in Port Arthur, Texas.

Damaged Motiva refinery unit to reopen in 2013

The brand-new crude distillation was shut down in June after it suffered severe damage from a chemical leak.  More »
Beach-goers walk on the sand near the San Onofre nuclear power plant in San Clemente , Calif.  (AP Photo, Lenny Ignelzi, File)

Feds OK with equipment change at Calif. nuke plant

Federal regulators concluded that the operator of the San Onofre nuclear power plant in California did not mislead the government about modifications to its troubled steam generators, where unusual damage has been found on scores of tubes that carry radioactive water.  More »