Fuel Fix

Oil from the Deepwater Horizon spill is seen floating on the surface of the water in Bay Jimmy, near where oil was spotted in June 2011. (AP Photo/Gerald Herbert, File)

Spill fund freezes payouts, asks for clarification *updated*

A fund set up by BP to compensate victims of the worst U.S. oil spill froze payments until it gets clarification on a court order to set aside money to cover plaintiffs’ legal fees.  More »
(AP file photo/David J. Phillip)

Reliance, Apollo weigh purchase of El Paso unit

Reliance Industries Ltd. (RIL) and Apollo Global Management LLC are among companies in talks to buy El Paso Corp. (EP)’s oil and gas exploration and production unit, said people with knowledge of the matter.  More »
(AP Photo/LM Otero)

US Forest Service OKs 15-turbine Vt. wind project

The U.S. Forest Service has approved the construction of 15 wind turbines in southern Vermont’s Green Mountain National Forest.  More »

A drilling rig stands over a natural gas well near Interstate 70 west of Rifle, Colo. (AP Photo/David Zalubowski)

Ohio quakes could incite fracking policy shift

In Ohio, geographically and politically positioned to become a leading importer of wastewater from gas drilling, environmentalists and lawmakers opposed to the technique known as fracking are seizing on a series of small earthquakes as a signal to proceed with caution.  More »
A contractor closes a valve on a tanker truck at a Range Resources hydraulic fracturing operation in Pennsylvania. (AP Photo/Keith Srakocic)

International players jump at U.S. shale

Energy companies are funneling billions of dollars into the booming business of U.S. shale drilling. They are investing euros, yuan and krone, too.  More »
(AP Photo/Keith Srakocic)

Opinion: Fracking fears mostly unfounded

Nonetheless, the hydraulic fracturing, or fracking, of shale rock to release gas trapped deep beneath the earth’s surface has inspired public fear-mongering, mostly around presumed threats to air quality and water quality. Most of that fear is unfounded.  More »
(Photo: David Paul Ohmer/Flickr)

FuelFix Newslinks |01.04.12|

See how one many used his roof to pay for a new car. BP freezes spill fund payouts. And a Texas A&M professor gives his opinion on fracking.  More »
Pegasus, the winged red horse icon of Exxon-Mobil, is seen on a gas pump in Ferndale, Mich. (Photo: Carlos Osorio, Associated Press)

Exxon in talks to restructure Japan unit

Exxon Mobil Corp. (XOM), the world’s largest company by market value, is in talks with its Japanese unit TonenGeneral Sekiyu K.K. (5012) to restructure its holdings in Japan and plans to remain in the country.  More »
An unidentified man walks along oil pipelines belonging to Agip Oil company in Obrikom, Nigeria. AP Photo/George Osodi)

Nigeria: Shell fixing pipeline hit by oil thieves

Royal Dutch Shell PLC says it is repairing a trunkline after detecting a leak blamed on oil thieves in Nigeria’s oil-stained southern delta.  More »
(Photo: Julien Tromeur, Flickr)

Oil falls slightly amid improving US economy

Oil prices inched lower toward $102 a barrel today in Asia as investors eyed signs of an improving U.S. economy.  More »
Chevron hired an investment banker to gauge buyer interest in its Hawaiian operations.
(AP Photo/Lynne Sladky)

Chevron completes sale of Cook Inlet interests

Chevron says its wholly owned indirect subsidiary, Union Oil Co. of California, has completed a sale of Alaska oil and gas assets in Cook Inlet to Houston-based Hilcorp Alaska LLC.  More »
An aerial view north of Fort McMurray in Alberta, Canada, where the world's largest oil companies are building massive open pit mines to get at the oil sands.  (AP file photo/Canadian Press, Eamon Mac Mahon)

PetroChina buys full stake in oil sands project

PetroChina, Asia’s largest oil and gas company, will take full ownership of the MacKay River oil sands project in Canada after Athabasca Oil Sands Corp announced Tuesday it sold the remaining 40 percent of the development for US$673 million.  More »
This image provided by BP's spillcam on June 6, 2010 shows oil leaking out of the Macondo well head in the Gulf of Mexico. (AP file photo/BP)

BP says it is entitled to payment from Halliburton

BP is reiterating claims first made last April that it is entitled to payment from contractor Halliburton Energy Services for expenses and lost profits resulting from the 2010 Deepwater Horizon offshore oil well disaster.  More »
Baker Hughes Chairman Chad Deaton will retire in April (AP file photo/David J. Phillip)

Baker Hughes names new CEO

Houston’s Baker Hughes has a new CEO at the helm as Martin Craighead takes over from Chad Deaton, who remains chairman.  More »
A Devon Energy flex-drilling rig in the Barnett Shale (Kevin Fujii/Houston Chronicle file photo)

Sinopec agrees to pay $900 million for stakes in five Devon shale projects

China Petroleum & Chemical Corp.’s Sinopec International Petroleum Exploration & Production unit agreed to buy a one-third stake in five Devon Energy Corp. (DVN) exploratory oil projects covering 1.2 million acres in the U.S. for $900 million.  More »