Fuel Fix

United Arab Emirates  energy minister Mohamed bin Dhaen Al Hamli is surrounded by journalists as he arrives a hotel for a meeting of the Organization of the Petroleum Exporting countries, OPEC, in Vienna, Austria. (AP Photo/Matthias Schrader)

UAE expects growth to slow to 3 percent this year

The United Arab Emirates’ economy is likely to slow to about 3 percent this year amid a drop in oil prices, the Gulf federation’s top economic official said.  More »
A worker walks through pipes connecting storage tanks and pumps in the hydraulic fracturing process. (AP Photo/Keith Srakocic, File)

Industry: EPA overstates pollution from gas production

The Obama administration overstated the greenhouse-gas emissions from unconventional natural-gas production, the American Petroleum Institute and the America’s Natural Gas Alliance said today in a study.  More »
James Doty, who chairs the Public Companies Accounting Oversight Board, says credibility is vital: "People have to believe that auditors know what they're doing …"

He wants accounting to all add up

It’s reasonable for investors to be skeptical about audits of public corporations by accountants the companies themselves hire, but rules developing now can make such audits more reliable, a top accounting regulator says.  More »
Shell-Logo-323x300

Proposed Shell tax break worth $67 million a year

Gov. Tom Corbett is proposing tax credits worth $67 million a year for Shell Oil Co.’s planned petrochemical refinery in western Pennsylvania.  More »
(Photo: Flickr, Caston_Corporate)

Trinity CO2 buying SandRidge Tertiary for $130M

SandRidge Energy Inc. is selling the oil recovery company SandRidge Tertiary LLC for $130 million in cash to Trinity CO2 Investments LLC, a carbon dioxide pipeline and supply company.  More »
The Seaway Crude Oil Pipeline Co.'s expanded pipeline will carry oil from Cushing, Okla., to refineries along the Gulf Coast. (Photo: LyondellBasell)

Shale gas could spark U.S. manufacturing revival

The natural gas drilling boom spreading across the U.S. could spark a revival in U.S. manufacturing and may lead to more than 1 million jobs by 2025, according to a group of economists.  More »
An oil worker walks pass the manifold (right) and frac pumps (left) at a Chesapeake Energy hydraulic fracturing operation near Carrizo Springs, Texas on Thursday May 5, 2011. (Photo: John Davenport/San Antonio Express-News)

Chesapeake caves to Icahn, replaces 4 directors

Just days ahead of what was is still likely to be a contentious shareholder meeting, Chesapeake Energy caved to pressure from two of its biggest shareholders and agreed to replace its four independent directors.  More »
Oil field workers drill into the Gypsum Hills near Medicine Lodge, Kan. An emerging oil boom has been sparked by modern technologies using horizontal drilling and a technique known as hydraulic fracturing, or “fracking, ” to coax out oil and gas. (AP Photo/Orlin Wagner)

Pa. to remain center of gas drilling, experts say

Like a runner who’s gotten a big head start in a race, Pennsylvania may be set to dominate natural gas production in the Marcellus Shale region for many years, experts say.  More »
OPEC_flag

Iran backs Iraq’s Thamir Ghadhban to head OPEC

Iran backs the Iraqi government’s candidate for the post of OPEC secretary-general, said Hussain al-Shahristani, Iraq’s deputy prime minister for energy affairs.  More »
Remi Urbanowski, left, a member of the financial council for the Polish embassy in Washington, and Ludomir Lasocki, advisor to the Polish Prime Minister, center, toured the area and learned about oil drilling that could be coming to their country in Karnes, Texas.  Karnes County rode waves of booms and busts numerous times in its history. Now the area is riding the wave of the Eagle Ford Shale play, bringing with it wealth, people, traffic and new construction to the area, but when drilling is eventually over, the area could be permanently changed by the next bust.  (AP Photo/Victoria Advocate, Angeli Wright)

South Texas county wary as oil boom settles in

A check for more than $300,000 was inside, the first royalty check from an Eagle Ford Shale well drilled on their property on the edge of Karnes County.  More »
(Photo: AEI Services)

Utilities More Concerned About Carbon Emissions

Concern about carbon emissions increased last year among U.S. utility executives, who also expressed apprehension that customers won’t tolerate higher rates for power generated from renewable sources, according to a report.  More »
Actor Kevin Costner, left, arrives at a screening of "The Company Men" during American Film Institute's AFI Fest 2010 in Los Angeles on Wednesday, Nov. 10, 2010; and at right, actor Stephen Baldwin attends the U.S. premiere of "Mission: Impossible - Ghost Protocol" at the Ziegfeld Theatre on Monday, Dec. 19, 2011, in New York. A New Orleans courtroom will be the setting for a real-life drama that casts Hollywood stars Costner and Baldwin in adversarial roles. A trial is scheduled to open Monday, June 4, 2012, for a lawsuit that Baldwin filed against Costner over their investments in a device that BP used in trying to clean up the massive Gulf of Mexico oil spill. The federal suit claims Costner and a business partner duped Baldwin and a friend out of their shares of an $18 million deal for BP to purchase oil-separating centrifuges after the April 2010 spill. (AP Photo/Matt Sayles, Evan Agostini)

Trial opens for suit against Costner over BP deal

Two Hollywood stars could spend the next two weeks in a New Orleans courtroom rather than on camera, on opposing sides in a real-life legal drama.  More »