Fuel Fix

A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)

Paragon Offshore reaches creditor deal for bankruptcy filing

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Under the plan, the oil services provider will be able to reduce more than $1.1 billion of debt and loosen some covenants, the company said.

Paragon Offshore reaches creditor deal for bankruptcy filing

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A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)
Under the plan, the oil services provider will be able to reduce more than $1.1 billion of debt and loosen some covenants, the company said.
( Johnny Hanson / Chronicle )

Rig count tumbles again

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The total rig count, which when including natural gas rig fell by 30, now stands at 541.
Categories: Crude oil, featured

The oil platform Gilda is seen in federal waters in the Santa Barbara Channel off Ventura, Calif, in 2005. (AP Photo/The Santa Barbara News-Press, Steve Malone, file)

California lawmakers seek probe of hydraulic fracturing offshore

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The extent of hydraulic fracturing in the Pacific causes “extreme concern.”
Former U.S. Energy Secretary Bill Richardson speaks during a visit to Houston in July 2013. (Emily Pickrell/Houston Chronicle)

Richardson: Texas could take the lead on climate change

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Former U.S. Energy Secretary Bill Richardson praised the City of Houston for promoting renewable energy use, following the city’s announcement in June that it would supply about half of anticipated electricity demand with renewable power.
Categories: Solar, Wind
(Billy Smith II/Houston Chronicle)

Obama falling short on exports, but fuel shipments booming

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It’s doubtful that President Obama will reach his ambitious goal of doubling U.S. exports between 2010 and 2015. But exports from at least one industry have nearly doubled: petroleum products.
Categories: Markets
(PVCG/Flickr)

Mexican left proposes weakening oil union power

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Democratic Revolution leader Jesus Zambrano said his party is willing to change some things.
Categories: Latin America
Oil Barrel

Commentary: Oil diverging further from other assets

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Back in late April I wrote a post called ‘Dot-to-Dot-to…Not?’, which joined the dots from mortgage rates to oil prices…and how their price evolution had been counterintuitive to the move in equity markets: the risk aversion exhibited by fixed income markets and caution shown by oil prices did not jive with the emphatic rally seen […]
Categories: Crude oil
Crewmen lower a pipe for TransCanada's Keystone XL project into the ground in Wood County, Texas. (Cody Duty / Houston Chronicle)

Report: Keystone XL won’t add to carbon emissions

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Keystone XL would not add to greenhouse gas emissions, according to a study published Thursday by an independent research group that echoed the findings of government-backed reports.
Categories: featured, Keystone XL
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)

US firm in Quebec rail tragedy granted protection

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A Canadian judge has granted creditor protection to a rail company whose runaway oil train caused an explosion that killed 47 people in Quebec, a day after the company filed for bankruptcy.
Categories: Accidents, Legal issues
Northeastern Alberta is a major oil sands production area. (Karen Warren / HOUSTON CHRONICLE)

Exxon Mobil, Imperial Oil to buy ConocoPhillips oil sands land for $720M

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Exxon Mobil Corp. and Imperial Oil Ltd. agreed to buy ConocoPhillips’ Clyden oil-sands lease in Alberta for about $720 million.
Categories: Canada, Deals, featured
The MarkWest Energy Partners Cadiz plant in Ohio. The plant is east of a planned processing complex to be built by a joint venture that involves  Kinder Morgan Energy Partners. (photo: MarkWest Energy Partners)

Kinder Morgan forms joint venture to build in shale regions

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Houston’s Kinder Morgan Energy Partners announced Wednesday that it and MarkWest Utica EMG would form a midstream joint venture to develop two projects.
Trimac Transportation driver Robert Williams used the liquified natural gas lane to fill his truck at the Flying J truck stop on I-10 East in Baytown Thursday Aug. 23, 2012.(Dave Rossman/For the Chronicle)

Analyst: LNG-powered vehicles in China to rise tenfold by 2020

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The number of vehicles fueled by liquefied natural gas in China will rise tenfold to 800,000 by 2020, according to Sanford C. Bernstein & Co.
Land owners and protesters gather on the steps of the Kentucky state capitol in Fronkfort, Ky., on Wednesday, Aug. 7, 2013, to opposed a pipeline that would carry flammable liquids through northern Kentucky.  The group delivered a petition to Gov. Steve Beshear's office that asks the governor to put pipeline-related issues on the agenda for the special session of the General Assembly that begins Aug. 19.  (AP Photo/Dylan Lovan)

Groups protest gas pipeline at Ky. Capitol

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Land owners joined environmental activists at the state Capitol Wednesday to oppose a pipeline that would carry flammable liquids through several counties in northern Kentucky.
ConocoPhillips operations in the Eagle Ford Shale in South Texas.

ConocoPhillips touts better-than-expected Eagle Ford production

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In the second quarter, ConocoPhillips produced an average of 121,000 barrels of oil equivalent per day in the Eagle Ford, about double its performance during the same quarter last year.
Categories: Eagle Ford, Production