Fuel Fix

(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 »
This photo taken and released by Rio de Janeiro's government, shows an aerial view of a boat crossing an area of an oil spill in an offshore field operated by Chevron at the Bacia de Campos, in Rio de Janeiro state, Brazil. Rio de Janeiro state's environment secretary, Carlos Minc, says Brazil is expected to fine Chevron nearly $28 million for the ongoing offshore oil spill and will also ask Chevron to pay for damages caused by the Atlantic spill. Minc said Monday he considers the fine way too lenient, but it's the maximum allowed under current Brazilian law. (AP Photo/Rio de Janeiro's government,Rogerio Santana)

Brazil fines Chevron for a third time

Brazil’s oil regulator fined Chevron Corp. for the third time for not properly managing an offshore oil field that leaked last month.  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’s pursuit of Venezuelan cash ’not over’

Exxon Mobil Corp.’s four-year hunt for billions of dollars in nationalized Venezuelan oil profits isn’t finished after an international panel slashed the U.S. oil company’s claim by 89 percent.  More »
Iranian President Mahmoud Ahmadinejad sits for an interview with state-run TV. (AP Photo/Presidency Office, Rouzbeh Jadidoleslam, HO)

Iran targets 5 million barrels oil a day

Iran plans to produce 5 million barrels of oil a day by 2015 and 1.47 billion cubic meters of natural-gas, the Tehran Times reported.  More »
A Chesapeake Energy drilling rig (Photo: Chesapeake Energy)

Total makes $2.3B bet on Chesapeake shale venture

Chesapeake Energy Corp. says it has started a joint venture with a unit of French energy company Total SA for oil drilling in Ohio’s Utica Shale.  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)

Expert: Wastewater well in Ohio triggered quakes

A northeast Ohio well used to dispose of wastewater from oil and gas drilling almost certainly caused a series of 11 minor quakes in the Youngstown area since last spring, a seismologist investigating the quakes said.  More »
The Deepwater Horizon oil rig burns off the coast of Louisiana on April 21, 2010.  (AP file photo/Gerald Herbert)

BP seeks recovery of all spill damages from Halliburton

BP Plc said all of its costs and damages from the 2010 Gulf of Mexico oil spill should be paid by Halliburton Co., its cement contractor for the Macondo well project.  More »