Critics focus on pump prices as oil industry profits mount

How should electric rates be set now?

Posted on April 28, 2011 at 9:55 am by Loren Steffy in Electricity

That’s the question that lurks behind a bill currently winding its way through the Legislature, Loren Steffy writes. If the bill becomes law, companies like CenterPoint could adjust their rates with just a cursory review by the Public Utility Commission as many as four times before they had to submit to a full-scale rate review. More »

ExxonMobil profits soar 69 percent in first quarter

Posted on April 28, 2011 at 9:12 am by Brett Clanton in General

The quarterly earnings were the company’s best since it reported $14.8 billion in profits in the third quarter of 2008, when oil prices spiked to a record $147 a barrel. More »

Houston pump prices continue climb toward $4

Posted on April 28, 2011 at 7:31 am by Laura Weisman in General

Gasoline prices continue their climb toward $4 in Houston this week, as prices are up another 4 cents. More »

Exelon to buy Constellation in $7.9 billion deal

Posted on April 28, 2011 at 7:10 am by Associated Press in Electricity

Exelon CEO John Rowe has tried and failed three times since 2003 to acquire a smaller rival. Maybe the fourth time will be a charm. More »

Oxy’s first-quarter earnings grow 46 percent

Posted on April 28, 2011 at 7:02 am by Associated Press in General

The Los Angeles oil and natural gas producer reported net income of $1.55 billion, or $1.90 per share, compared with $1.06 billion, or $1.31 per share, for the same quarter in 2010. More »

Shell makes $8.78 billion profit in first quarter

Posted on April 28, 2011 at 6:40 am by Associated Press in General

Europe’s largest oil company reported profits up 60 percent from a year ago thanks to higher oil prices, gains on asset sales and improving refining operations. More »

FuelFix Newslinks |04.28.11|

Posted on April 28, 2011 at 6:32 am by Tom Fowler in General

Oil profits aplenty. No foul play behind Texas blackouts. Still dim in Texas City. More »

Feds probe California pipeline explosion

Posted on April 28, 2011 at 6:22 am by Associated Press in Accidents, Legal issues, Pipelines

Federal prosecutors have requested records including Pacific Gas & Electric Co.’s maps, reports and emergency plans in a broad inquiry into last year’s blast that killed eight people and destroyed dozens of homes. More »

NuStar’s income roars up 69 percent

Posted on April 28, 2011 at 12:30 am by Vicki Vaughan in General

San Antonio-based NuStar Energy reported first-quarter net income of $19.4 million, or 30 cents a unit, compared to $11.5 million, or 19 cents a unit, in the first quarter of 2010. More »

Exxon Mobil, Chevron raising quarterly dividends

Posted on April 28, 2011 at 12:30 am by chron.com Energy in General

Exxon is raising its quarterly dividend by about 7 percent to 47 cents per share. Chevron will pay $3.12 in annual dividends, up from $2.88. More »

A worst case if an oil spill happens off Alaska?

Posted on April 28, 2011 at 12:30 am by chron.com Energy in Accidents, Crude oil, Offshore

A blowout in the Chukchi Sea lease could result in a spill of more than 58 million gallons of oil into Arctic waters, federal regulators say. That’s about a quarter of the Deepwater Horizon spill, but far more than Shell Oil – the major leaseholder in the area – says it could handle under its response plan. More »