Fuel Fix

(Photographer: Andrey Rudakov/Bloomberg)

Shell to ax thousands of jobs amid $7 billion in spending cuts

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The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”

Shell to ax thousands of jobs amid $7 billion in spending cuts

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(Photographer: Andrey Rudakov/Bloomberg)
The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”
Anadarko Petroleum Corporation CEO Al Walker, gives a speech after his company won top ranked large employer during the Houston Chronicle's Top Workplaces Awards Gala, Thursday, Nov. 8, 2012, in Houston. (Nick de la Torre/Houston Chronicle)

Anadarko CEO: Outlook still uncertain for shale comeback

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Earlier in the year, before initial declines in service costs, Anadarko had estimated it would take $3 billion in capital expenditures to keep production levels flat. Now, Walker said, it would take about $2.7 billion, and there is still room for improvement.

(AP Photo/Toby Talbot, File)

New lawsuit filed against Cape Wind power project

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Opponents of a proposed wind farm in Nantucket Sound have filed a federal lawsuit saying the state overstepped its authority when it brokered an agreement for a major utility to buy power from the project.
Categories: Legal issues, Wind
(AP photo)

European Union relaxes renewables target

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The European Commission is shying away from more ambitious mandatory renewable energy goals in its fight against climate change.
Categories: Environment, Europe

Oil Barrel

Oil above $95 as IMF raises global growth forecast

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The price of oil rose Wednesday amid expectations for solid demand after the International Monetary Fund raised its growth forecasts for the world and U.S. economies.
Categories: Crude oil, Markets
Searchers dig through the rubble for victims of the inferno in Lac-Megantic, Quebec, Monday, July 8, 2013, as  firefighter continue to hose down tanker cars to prevent explosions.  A runaway train derailed igniting tanker cars carrying crude oil .  (AP Photo/ THE CANADIAN PRESS,Ryan Remiorz)

Railroad in deadly Canada derailment auctioned off

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A Chapter 11 trustee had said the goal was to recoup losses for creditors while keeping the entire rail line in operation.

Categories: Accidents, Canada, Rail
(martinluff/Flickr)

Texans shaken by quakes demand halt on injection wells (video)

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Residents of a North Texas town that has been shaken by a rash of earthquakes descended on a meeting of state regulators Tuesday and called for a moratorium on nearby injection wells.
Categories: Politics/Policy, Weather
An INOXCVA mobile refueling system was on display at the company's Baytown plant on Jan. 21, 2013. (Zain Shauk/Houston Chronicle)

Portable LNG system could solve oil field refueling problems

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Some energy companies have started moving water and sand to oil fields on trucks powered by natural gas, but refueling them can sometimes be a challenge.
Sen. Charles Grassley, R-Iowa, questions a witness during a Senate hearing on Capitol Hill. (AP Photo/Cliff Owen)

GOP senator: Obama set to give big gift to Big Oil

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Unless President Barack Obama wants to give a big gift to “Big Oil,” he needs to personally intervene in a fight over the nation’s renewable fuels policy, a Republican Sen. Chuck Grassley said Tuesday.