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
Canadian Foreign Minister John Baird (L), US Secretary of State John Kerry (C) and Mexican Foreign Minister Jose Antonio Meade walk after conducting a press conference at the US State Department during the North America Trilateral Ministerial meetings in Washington. ( AFP Photo/Paul J. Richards/Getty Images)

Kerry: No rush to decide on Keystone XL pipeline

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Kerry said “a lot of questions” have been raised on the 1,700-mile pipeline proposed by Calgary-based TransCanada. He said the questions require answers.
(Image: Fotolia)

Dutch to reduce natural gas production due to earthquakes

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The Dutch Cabinet has decided to reduce the amount of gas produced from fields that lie under the country’s northernmost province by 6 percent, as the mining has caused earthquakes and damaged houses in the region.

(AP file photo/Paul Sakuma)

Oil and gas drilling sales help GE’s fourth quarter

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General Electric Co. posted increased revenue and profit for the fourth quarter on rising sales in emerging markets, higher banking profit, and stronger global sales of aircraft engines and oil and gas drilling equipment.
(Image: Fotolia)

EP Energy to sell fewer shares than anticipated in IPO

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EP Energy may only see three quarters of the capital it had expected to collect in its initial public offering, launched Friday on the New York Stock Exchange.
(Phillips 66)

Senator presses EPA to scrutinize refinery emissions

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At least one senator wants the EPA to expand its focus on greenhouse emissions to include gases from refineries in addition to power plants.
(Andrey Rudakov/Bloomberg)

Shell issues profit warning for fourth quarter

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Royal Dutch Shell PLC has issued a profit warning for the fourth quarter, saying results will be worse than most analysts expected due to a mix of lower production, higher costs, and a worse performance by its refining division
A sign tower reaches toward the sky at the entrance to Schlumberger's Sugar Land campus. (AP file photo/Pat Sullivan)

Schlumberger income rises on robust Middle East, Asia demand

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Schlumberger Ltd.’s profit rose 28 percent in the fourth quarter on high drilling activity and demand for oilfield services in the Middle East and Asia, as well as sales in a resurgent Gulf of Mexico.