Fuel Fix

(AP Photo/Gerald Herbert, File)

BP to settle Deepwater Horizon claims for $18.7 billion

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Categories: featured, Gulf oil spill
P 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.

BP to settle Deepwater Horizon claims for $18.7 billion

on
Categories: featured, Gulf oil spill
(AP Photo/Gerald Herbert, File)
P 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.
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

A fireball goes up at the site of an oil train derailment Monday, Dec 30, 2013, in Casselton, N.D. The train carrying crude oil derailed near Casselton Monday afternoon. Several explosions were reported as some cars on the mile-long train caught fire. (AP Photo/Bruce Crummy)

Federal probe details events in fiery train oil spill

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Federal investigators said Monday that 18 rail cars carrying oil were punctured when they derailed during a crash and explosion in December that spilled about 400,000 gallons of crude.
(AP Photo/David J. Phillip)

US carbon emissions climb in 2013

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The U.S. likely sent more carbon dioxide emissions into the atmosphere in 2013 over the previous year, according to newly released government data, but energy analysts and environmentalists say it probably won’t change the nation’s overall downward track.

A logo sits on a sign outside Foster Wheeler AG's offices in Reading. (Matthew Lloyd/Bloomberg)

Amec agrees to acquire Foster Wheeler for $3.2 billion

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Amec Plc, the second-biggest U.K. oil and gas engineer, agreed to buy U.S.-traded Foster Wheeler AG for $3.2 billion to expand foreign and fuel-product business.
Categories: Deals, featured
(Photo: Steve Jurvetson/Flickr)

Biofuels scam allegations against company widen to fraud

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A company whose president was indicted last fall in an alleged biofuels scam prosecutors say cost the government and investors more than $100 million now faces a separate investigation by federal environmental regulators.
Categories: Biofuels, Legal issues
Oil Barrel

Oil price falls to near $92

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Oil prices fell Monday after a big jump in the previous trading session that was sparked by expectations the Fed might delay stimulus reduction.
Categories: Crude oil, Markets
John Modine of the American Petroleum Institute. (photo: API)

Q&A: The world comes calling for U.S. experience

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Recently elevated to vice president at the American Petroleum Institute, John Modine oversees the trade group’s global industry services department. The unit focuses on promoting standards and best practices worldwide.
A wind turbine, named Fukushima Mirai, sits about 20 kilometers off the coast of Naraha, Fukushima Prefecture in northeastern Japan is shown  . (AP Photo/Marubeni Corp.)

Maine offshore wind project looks to overcome hurdle

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The Maine Public Utilities Commission is poised to vote Tuesday on whether to grant initial approval for a state contract to the University of Maine and its partner companies, called Maine Aqua Ventus, to build a two-turbine pilot project off the coast of Monhegan Island.