Fuel Fix

(Nabors photo)

Nabors $7.2 Billion takeover seen with surging options

Nabors Industries Ltd. (NBR) has gotten so cheap that traders in the options market are betting the world’s largest land-drilling contractor may be a takeover candidate after the departure of its 81-year-old chief executive officer.  More »
Petrobras workers walk on platform 51 "Majuro" in Angra dos Reis, Brazil. (AP Photo/Ricardo Moraes)

Africa seen mirroring Brazil in Atlantic coast drilling

The world’s next great oil finds may be buried under a layer of salt more than two miles beneath the seabed off Africa’s Atlantic coast.  More »
A contractor closes a valve on a tanker truck at a Range Resources hydraulic fracturing operation in Pennsylvania. (AP Photo/Keith Srakocic)

Kan. seeks to beef up budget to deal with fracking

The Kansas Corporation Commission, the agency that regulates the oil and gas industry in the state, says it doesn’t have the necessary staff to inspect the growing number of oil and gas drilling sites involving horizontal fracturing, or fracking.  More »

(AP file photo/Paul Sakuma)

Pa. tax legislation could attract Shell refinery

New legislation in Pennsylvania could help the state compete with Ohio and West Virginia for a huge petrochemical refinery by offering millions of dollars in tax breaks for big businesses.  More »
(AP Photo/Ed Andrieski)

Gas drillers, Idaho counties reach agreement

A group representing Idaho counties and a group representing companies interested in tapping natural gas in the state announced an agreement Sunday on legislation they plan to introduce into the Idaho Legislature next month.  More »
Gov. Jerry Brown (AP Photo/Rich Pedroncelli,file)

Report: Brown replaced regulator over oil rules

A top state regulator and his deputy were removed last year after ignoring pressure from Gov. Jerry Brown to relax rules for companies seeking to tap California’s oil, according to a newspaper investigation.  More »
A drilling rig aims for oil in the Bakken Shale near Watford City, N.D. (AP Photo/James MacPherson)

ND Senate leader: Look again at oil tax splits

The North Dakota Senate’s Republican majority leader says the Legislature needs to provide a greater share of state oil tax collections to local governments.  More »
(Photo: David Paul Ohmer/Flickr)

FuelFix Newslinks |01.30.12|

Transocean faces rough waters ahead. Low prices deflate natural gas rush, but does it mean cheaper electricity?  More »
(Image: Fotolia)

U.S. refinery union says strike possible as contract deadline nears

The union representing more than 30,000 workers at refineries, terminals and pipelines throughout the U.S. warned members that a strike may be imminent as negotiations with the industry near a Feb. 1 deadline.  More »

Exxon selling Japanese subsidiary in $3.9B deal

Exxon Mobil Corp. is selling its Japanese refining and marketing business to partner TonenGeneral Sekiyu K.K. in a deal valued at $3.9 billion.  More »
The Douglas Channel, the proposed termination point for an oil pipeline in the Enbridge Northern Gateway Project at Kitamaat, British Columbia, Canada. Rio Tinto Alcans smelter is at left and the town of Kitamaat at upper right. The fear of oil spills is especially acute in this pristine corner of northwest British Columbia, with its snowcapped mountains and deep ocean inlets. People here still remember the Exxon Valdez oil spill of 1989, and oil is still leaking from the Queen of the North, a ferry that sank off nearby Hartley Bay six years ago. (AP Photo/The Canadian Press, Darryl Dyck)

Thwarted on US oil pipeline, Canada looks to China

The latest chapter in Canada’s quest to become a full-blown oil superpower unfolded this month in a village gym on the British Columbia coast.  More »
Oil gushes from BP's Macondo well in the Gulf of Mexico on July 12, 2010. (AP Photo/BP)

BP emails reveal company veiling spill rate

On the day the Deepwater Horizon sank in the Gulf of Mexico, BP officials warned in an internal email conversation that if the well was not protected by the blow-out preventer at the drill site, crude oil could burst into the Gulf of Mexico at a rate of 3.4 million gallons a day, an amount a million gallons higher than what the U.S. government ultimately estimated spilled daily from the site.  More »
(Image: Fotolia)

Oil price wavers on Persian Gulf supply concerns

Iranian leaders are scheduled to debate the ban Sunday in response to EU plans to embargo Iran’s oil by summer because of that country’s nuclear program. Investors  More »
A drilling rig in Pavillion, Wyo., used to drill a deep water well for testing. (Photo: EPA).

House panel to quiz EPA research chief on Pavillion fracturing study

A top Environmental Protection Agency official is among those who will appear before a House panel next week regarding the agency’s controversial study suggesting a possible link between hydraulic fracturing and groundwater contamination in Pavillion, Wyo.  More »
An Iranian oil worker repairs a pipe at an oil refinery in Tehran, Iran. The latest U.S. sanctions to be imposed on Iran have not only unveiled the depth of the country's economic woes, but exposed new fault lines within the government just two months before parliamentary elections that should bolster the control of the ruling clerics. (AP Photo/Vahid Salemi, File)

Oil markets could withstand Iran attack shock

More than 70 percent of investors say an attack on Iran’s nuclear facilities would create only a short-term disruption in oil markets, according to a quarterly Bloomberg Global Poll.  More »