Fuel Fix

(Photo by Eddie Seal for Bloomberg News)

U.S. oil rig count jumps up by a dozen, the first increase in 2015

on
The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.

U.S. oil rig count jumps up by a dozen, the first increase in 2015

on
(Photo by Eddie Seal for Bloomberg News)
The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.
(AP Photo/Gerald Herbert, File)

BP to settle Deepwater Horizon claims for $18.7 billion

on
BP has agreed to pay a record $18.7 billion to settle the federal and state claims against it for its role in the Deepwater Horizon oil spill, sidestepping years of litigation with a promise to pour funds for nearly two decades into efforts to repair vast environmental damage in the Gulf region.
Categories: featured, Gulf oil spill

    Jeff Allyn, a derrick hand with Raven Drilling, pauses with a cup of coffee while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota. (Andrew Burton/Getty Images)

    Shale drillers’ safety net is vanishing

    on
    SandRidge, the Oklahoma City-based producer, had about 90 percent of its oil and natural gas liquids output hedged in early 2015, according to a regulatory filing. Next year, the hedges cover less than a third.
    Categories: featured, Shale
The Texas Panhandle sky silhouettes a Linn Energy drilling rig in Wheeler County. (Linn Energy)

Rig count down for the week

on
Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. fell by 11 this week to 1,757.
Oil Barrel

Crude oil settles above $100 a barrel

on
It the first time oil crossed that threshold since October.
Categories: Crude oil, Gasoline

Todd Hart, a lab manager at the DOE's Pacific Northwest National Laboratory, pours algae as part of an experiment to turn it into crude oil (Pacific Northwest National Laboratory).

Biofuel scientists making headway on cheaper algae-based crude (photos)

on
Government engineers say they have developed a cheaper way to turn wet algae into crude oil, but it may take a few years to impact the market.
Former FBI Director Louis Freeh.  (Associated Press)

Targets in BP settlement inquiry assail findings

on
The targets of former FBI director Louis Freeh’s inquiry are questioning his independence
Categories: Gulf oil spill
Delta Airlines planes parked at the gates in Atlanta. (William Montgomery photo)

Delta Air Lines joins fight against renewable fuels standard

on
Through its Monroe refinery unit, Delta Air Lines is now fighting the renewable fuel quotas the Obama administration’s Environmental Protection Agency established for 2013, saying in legal filings that it is “powerless” to comply with the mandates.
(Image: Fotolia)

Oil extends rise on South Sudan worry

on
Oil prices rose further above $99 on Friday as violence in South Sudan stoked concerns about the African nation’s oil production. Benchmark U.S. oil for February delivery gained 27 cents to $99.82 in electronic trading on the New York Mercantile Exchange. Oil prices gained nearly 3 percent last week as optimism about the U.S. economic […]
Categories: General
(AP Photo/Hasan Jamali)

2013 oil boom is biggest ever, data show

on
The United States’ average daily oil production is on track to surge by 1 million barrels per day this year, the biggest one-year jump in the nation’s history, according to federal data.
Categories: Crude oil, featured