Fuel Fix

(AP file photo/Alastair Grant)

BP says no immediate supply issues after Petroplus insolvency

BP Plc (BP/) said there are no “immediate supply issues” across its retail network following today’s announcement that Petroplus Holdings AG will file for insolvency.  More »
View of Petroplus plant in Petit Couronne, northwestern France, Thursday, Jan. 5, 2012. Petroplus Holdings says it will temporarily halt production at three refineries in France, Belgium and Switzerland while it continues talks to unfreeze a $1 billion credit facility. Europe's largest independent oil refiner and wholesaler has struggled to convince lenders to grant it the credit necessary to continue its operations. (AP Photo/Christophe Ena)

Refiner Petroplus filing for insolvency

Swiss-based Petroplus Holdings, Europe’s largest independent oil refiner, said Tuesday that it is filing for insolvency after failing to reach an agreement with its lenders on its $1.75 billion credit line.  More »
(Photo: David Paul Ohmer/Flickr)

FuelFix Newslinks |01.24.12|

Texas Republicans float bill to approve Keystone XL. Chevron rig sinks off Nigeria coast. GOP staff discuss Keystone XL with TransCanada.  More »

(Image: Fotolia)

Oil up with more threats from Iran

Monday also featured a sharp turnaround in natural gas prices.  More »
(Photo: Patricia Santos, Associated Press)

Petrobras’s Foster to replace Gabrielli as CEO

Petroleo Brasileiro SA (PETR4), the world’s fifth-biggest oil producer by market value, plans to replace its chief executive officer with its natural-gas and energy chief, Maria das Gracas Foster, as Jose Sergio Gabrielli pursues a political career.  More »
A contractor closes a valve on a tanker truck at a Range Resources hydraulic fracturing operation in Pennsylvania. (AP Photo/Keith Srakocic)

U.S. revises Marcellus shale gas reserve estimate

The U.S. Energy Department cut its estimate for natural gas reserves in the Marcellus shale formation by 66 percent, citing improved data on drilling and production.  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)

Analyst expects more companies to follow Chesapeake’s lead

Energy companies will likely ramp down production of natural gas because of low prices and constrained storage space, following the lead of Chesapeake Energy, a BNP Paribas analyst said today.  More »
Energy Information Administration's natural gas projections from the 2011 Annual Energy Outlook.

Report: Energy imports’ share of demand down almost half by 2035

Increases in domestic oil-and-gas production, efficiency and use of renewables will cut imports’ share of U.S. energy demand nearly in half by 2035, the U.S. Energy Information Administration said.  More »
An unidentified worker steps through the maze of hoses being used at a remote fracking site being run by Halliburton for natural-gas producer Williams in Rulison, Colo. (AP Photo/David Zalubowski, File)

Halliburton shifts focus as income rises in fourth quarter

Halliburton is reporting that its net income jumped nearly 50 percent in the final three months of 2011 as rising oil prices sparked new drilling projects.  More »
Demonstrators for and against the Keystone XL pipeline gather in Lincoln, Neb., before a public hearing on the project. (AP Photo/Nati Harnik)

Slight majority oppose Obama’s denial of Keystone permit, poll says

A slight majority of likely U.S. voters oppose the Obama administration’s decision to deny a permit for the Keystone XL tar-sands oil pipeline from Canada to Gulf Coast refineries, according to a poll from the The Hill, a congressional newspaper.  More »
Workers move a section of well casing into place at a Chesapeake Energy natural gas well site near Burlington, Pa. (AP Photo/Ralph Wilson, File)

Chesapeake cuts natural-gas output in Texas due to low prices

Chesapeake Energy Corp., the second- largest U.S. natural-gas producer, is cutting production and will reduce spending in gas fields by 70 percent after prices hit a 10-year low.  More »
Jess Burrow, left, and James Patterson, look over the damage caused outside the home of Joe and Mary Reneau when their chimney was toppled by Saturday's earthquake, in Sparks, Okla. (AP Photo/Sue Ogrocki)

Link between fracking and quakes unsure

A 4.0 magnitude earthquake near a Youngstown, Ohio, natural gas well on New Year’s Eve has invigorated the public debate on the safety of hydraulic fracturing.  More »
(AP Photo/Keith Srakocic)

Fracking in Kan. pushes water permits to new high

While sections of Kansas dealt with drought in 2011, oil exploration companies pushed into the state to drill for oil and gas using horizontal hydraulic fracturing, a drilling method that relies on water.  More »
A drilling rig in Pavillion, Wyo., used to drill a deep water well for testing. (Photo: EPA).

Senators: Raise bar for Wyo. frack study review

Ten Republican senators have asked the U.S. Environmental Protection Agency to subject a draft report that theorizes a link between hydraulic fracturing and groundwater pollution in a Wyoming gas field to a more rigorous level of scientific review than currently planned.  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)

EU set to adopt ban on importing Iranian oil

European Union nations agreed today on an oil embargo against Iran as part of sanctions meant to pressure the country to resume talks on its nuclear program.  More »