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
(Image: Fotolia)

Crude oil edges lower as Fed meeting in focus

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The price of oil edged lower Tuesday as investors waited to see whether or not the U.S. Federal Reserve would start reducing its economic stimulus program at a key policy meeting this week.
Categories: Crude oil, Markets
Drillships work near the Tahiti field in the deepwater Gulf of Mexico. (Simone Sebastian/Houston Chronicle)

Court won’t take Gulf spill moratorium case

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The Supreme Court won’t decide if the Obama administration violated a judge’s order that struck down its temporary moratorium on deep water drilling after BP’s 2010 oil spill in the Gulf of Mexico.
Categories: Legal issues, Offshore

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Jury deliberates in ex-BP engineer’s trial

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federal jury is weighing the Justice Department’s case against a former BP engineer charged with deleting texts messages to obstruct a probe of the company’s massive 2010 oil spill in the Gulf of Mexico.
An oil truck passes in front of Chevron Refinery in Richmond, Calif. in 2006. (AP Photo/Paul Sakuma, file)

Report: Little progress in refinery safety since deadly Texas City explosion

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Federal investigators on Monday called for an overhaul of the way oil refineries are regulated in California and across the nation, saying the smoky fire at Chevron’s Richmond refinery last year exposed weaknesses in systems that do not force companies to demonstrate they are operating as safely as possible.
(Photo: freegreatpicture.com)

Shareholders approve Linn-Berry merger

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Linn Energy LLC said shareholders have approved the purchase of Berry Petroleum Co. The $3 billion deal is expected to close today.
Categories: Deals
Smoke and flames billow from a crude oil unit at the Chevron refinery in Richmond, Calif., Monday, Aug. 6, 2012. (AP Photo/ContraCosta Times, D. Ross Cameron )

Chevron ignored warnings before refinery fire, safety report says

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The fire at Chevron Corp.’s refinery in Richmond, California, last year that sickened thousands was caused by the company ignoring a decade’s worth of calls for inspections and upgrades of piping that eventually corroded and failed, a federal safety report said today.
William Utt, chairman, president, CEO of KBR, says he'll retire in 2014. (AP Photo/J. David Ake)

KBR’s CEO to retire

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KBR CEO William Utt will retire next year, the company announced Monday.