Fuel Fix

The Chevron Genesis in the Gulf of Mexico. (AP Photo/Mary Altaffer)

Feds outline plan for selling offshore drilling leases

A leading House Republican today insisted the Obama administration was on track to blow a July 1 deadline to finish a plan for selling offshore drilling leases over the next five years. But administration officials said the five-year schedule of drilling leases would be issued by July 1, with a first auction scheduled this year.  More »

EOG’s surging Eagle Ford oil production boosts earnings

Houston-based EOG Resources’s net income soared in the first three months of the year and more then doubled over the past year because of the surging production of oil from the Eagle Ford shale, executives said in a conference call with analysts today.  More »

Occidental unit to buy ex-naval station in Texas

A unit of oil producer Occidental Petroleum Corp. has reached an $82 million deal to buy the South Texas site of former Naval Station Ingleside.  More »
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Dust permeates the air at a Chesapeake Energy Co. hydraulic fracturing operation at a well site near Carrizo Springs, Texas. (John Davenport/San Antonio Express News)

Study questions whether fracking chemicals can migrate

A new study questions whether hydraulic fracturing chemicals could migrate into drinking water supplies faster than some experts believe, but several scientists have said the study is based on faulty assumptions, according to a ProPublica story.  More »
(Photo: Pioneer Drilling)

Pioneer Drilling swings to a profit

San Antonio-based Pioneer Drilling Co. Inc. moved into the black in the first quarter ended March 31 as net income rose to $14.2 million, or 23 cents a share, compared with a loss of $6 million, or 11 cents a share, for the same period a year ago.  More »
Demonstrators march with a replica of a pipeline during a protest of Keystone XL at the White House on Sunday, Nov. 6.  (AP Photo/Evan Vucci)

Keystone pipeline divide shows U.S. highway deal elusive

Congressional negotiators clashed over TransCanada Corp. (TRP)’s Keystone XL oil pipeline, underscoring the U.S. political challenge in reaching a multiyear surface transportation plan for the first time since 2005.  More »
A woman fills up her SUV at a California gas station. (Photo: FREDERIC J. BROWN/AFP/Getty Images)

Gas price likely won’t set record this summer

Gasoline prices likely won’t set any records this summer, thanks to a recent drop in the price of oil.  More »
Tugboats pull the crippled tanker Exxon Valdez towards Naked Island in Prince William Sound, Alaska, seen in this April 5, 1989, file photo after the ship was pulled from Bligh Reef. Best Oasis', an Indian company that dismantles old ships, official Gaurav Mehta says his company recently bought the Exxon Valdez, but he declined to say from whom or at what price. He said Friday March 23, 2012 that the vessel is most likely headed for the scrap yard. (AP Photo/Rob Stapleton, File)

India’s top court refuses entry to Exxon Valdez

India’s Supreme Court has banned the Exxon Valdez from entering India, saying the ship involved in one of the worst U.S. oil spills will not be allowed in for dismantling until it has been decontaminated.  More »
An unidentified man walks along oil pipelines belonging to Agip Oil company in Obrikom, Nigeria. AP Photo/George Osodi)

ConocoPhillips seeking a buyer for its Nigerian assets

ConocoPhillips (COP), the largest U.S. independent oil and natural-gas producer, is seeking a buyer for its Nigerian properties in a sale that may fetch $1 billion.  More »
(Photo: Vestman/Flickr)

U.K. to pursue electricity-market law to boost low-carbon plants

The U.K. plans to overhaul its electricity market as the government seeks to prevent spikes in natural-gas prices and spur investment in lower-emitting technologies.  More »
Gas prices are expected to hold steady in Texas over the holiday weekend. (AP Photo/Alex Brandon)

Gov’t cuts summer gasoline price forecast

The government says gasoline will be cheaper this summer than previously expected thanks to a drop in the price of oil.  More »
The Constitution spar in the Gulf of Mexico (Anadarko)

Anadarko suit judge throws out fraudulent transfer claim

Anadarko Petroleum Corp. (APC) won dismissal of a so-called fraudulent transfer claim made in a $25 billion environmental lawsuit by the U.S. and creditors of bankrupt Tronox Inc. after a judge ruled the Kerr-McGee unit of Anadarko that received the transfer is an isolated entity.  More »