Fuel Fix

(AP Photo/Richard Drew)

Oil’s slide continues into August

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Monday’s slide follows a bearish July, when concerns that the glut of oil may not be easing sparked a sell off and erased gains crude had posted in May and June.

Oil’s slide continues into August

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(AP Photo/Richard Drew)
Monday’s slide follows a bearish July, when concerns that the glut of oil may not be easing sparked a sell off and erased gains crude had posted in May and June.
Exxon Mobil CEO Rex Tillerson

Oil CEOs’ grim outlook rubs off on speculators fleeing market

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Exxon, the biggest U.S. energy producer, reported July 31 its lowest profit since 2009 while No. 2 Chevron posted its worst results in 12 years.
Categories: Crude oil, featured
Shell's Olympus platform (Shell)

Deep-water giant begins production in Gulf of Mexico field (photos)

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Royal Dutch Shell said Tuesday it had started production from its Olympus platform, the first of several new platforms expected to push oil production in the Gulf of Mexico to a record level by 2016.
Categories: Gulf of Mexico, Offshore
A Canadian Pacific Railway Ltd. train transporting oil leaves Hardisty, Alberta, Canada. (Brett Gundlock/Bloomberg)

Canadian group pitches Alaska rail line for oil sands

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A Vancouver-based group is proposing a 1,600-mile railroad to transport bitumen from Alberta’s tar sands to Delta Junction, where the project’s creators hope to tap into TAPS, the Trans-Alaska Pipeline System.
Categories: Arctic, Rail

A BP company logo sits on display on the forecourt of a gas station operated by BP in London. (Chris Ratcliffe/Bloomberg)

BP quarterly profit falls as divestments impact income

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BP’s profit fell 30 percent in the fourth quarter as it felt the impact of its multibillion-dollar divestment program, weakened refining income, the company reported Tuesday.
Categories: Finance/Earnings
(AP Photo/Mike Groll, File)

Property owners threaten second suit over delay on fracking study

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A coalition of property owners announced that it will sue New York state over its delay in issuing a long-awaited environmental impact statement on hydraulic fracturing unless the state provides a reasonable timeline by Feb. 13 for finalizing the process.
After five years waiting for U.S. approval the need for Keystone isn’t as urgent for companies such as Suncor Energy Inc.  (Brent Lewin/Bloomberg)

Keystone ardor cools as oil sands producers find other routes

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Producers have become less reliant on Keystone XL as new rail terminals increase their ability to ship oil on trains. And support has grown for other pipeline proposals, including a separate TransCanada project that would carry crude from Alberta to the nation’s Atlantic Coast.
Categories: Keystone XL, Pipelines
Photo:  wikipedia.org

Does the Google Glass design philosophy clash with oil & gas industry trends?

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The biggest challenge I see as I embark on this journey to explore how Glass (and wearable technology generally) can be adapted to oil & gas applications is that the oil & gas industry’s data needs are growing larger and larger (the result of more challenging wells) while displays continue to shrink.
(Image: Fotolia)

Oil drops on weaker U.S., China manufacturing data

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Benchmark oil fell $1.06 to close at $96.43 a barrel.
Categories: Crude oil, Markets