Fuel Fix

(Photo by Eddie Seal for Bloomberg News)

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

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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

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(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

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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

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    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
A BP company logo sits on display on the forecourt of a gas station operated by BP in London. (Chris Ratcliffe/Bloomberg)

BP completes refinery upgrade to use more Canadian crude

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BP has turned on a key new unit to process more Canadian oil sands crude at the company’s largest refinery in Indiana, the British oil giant announced Wednesday.
Categories: Canada, Crude oil, Refining
(Kostas Tsironis/Bloomberg)

Moody’s: Moderate demand will temper power prices in 2014

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The rise of solar power and environmental regulations could pose a threat to the utility industry in 2014 and beyond, according to a new forecast from the credit rating firm.
Categories: Electricity

Former BP engineer Kurt Mix leaves the federal courthouse after a hearing in Houston in 2012. (AP Photo/Pat Sullivan, File)

GUILTY: Ex-BP engineer convicted of destroying evidence after Gulf oil spill

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A former BP drilling engineer was convicted Wednesday of one charge that he deleted text messages from his cellphone to obstruct a federal investigation of the company’s massive 2010 oil spill in the Gulf of Mexico. He was acquitted of a second charge.
A YPF SA refinery in Lujan de Cuyo, Argentina. (Walter Moreno/Bloomberg)

Argentina’s ‘shale capital’ basks in new riches

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Argentina’s shale boom is being supported by companies such as Chevron Corp. and YPF SA, which are investing billions of dollars to tap the world’s second-largest shale gas deposit, known locally as Vaca Muerta, or Dead Cow
Categories: Latin America, Shale
(juxtaposer1/Flickr)

Study finds strong link between BP spill and sick dolphins

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Bottlenose dolphins in a Louisiana bay fouled by the 2010 BP oil spill are suffering from lung damage and other injuries that are consistent with exposure to petroleum hydrocarbons, according to a federal study released Wednesday.
Cost. Electricity

Direct Energy to sell Texas power plants to Blackstone

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Blackstone, a private equity firm, will buy three gas-fired generators in Texas for $685 million in cash from Direct Energy, the company announced Wednesday.
Categories: Electricity
The silhouettes of Vestas Wind Systems turbines spin at a wind farm in Lowville, New York.  (Ron Antonelli/Bloomberg)

Feds discuss eagle kill by massive wind farm

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The U.S. Fish and Wildlife Service has begun seeking ideas from the public as it considers ways to minimize and offset the number of eagles killed by what could become the largest wind farm in the country.
Categories: Environment, Wind