Fuel Fix

A Tesoro Corp. refinery, including a gas flare that is part normal plant operations, is shown Friday, April 2, 2010, in Anacortes, Wash. (AP file photo/Ted S. Warren)

Tesoro secures oil supply for Utah refinery

San Antonio-based refiner Tesoro Corp. announced yesterday that it will invest $180 million on a capital project at its Salt Lake City refinery that will expand its crude oil processing capacity by 7 percent.  More »
The Cushing, Okla., pipeline hub.

Enbridge partnership to make $145M ND investment

Enbridge Energy Partners LP says it will make an additional $145 million investment to enhance the capability of its North Dakota crude oil system.  More »
(Photo: David Paul Ohmer/Flickr)

FuelFix Newslinks |12.06.11|

BP CEO warns of high oil prices. Oil companies plan to record spending next year. And what are the possible implications of an Iran oil embargo?  More »

Money Roll

Frontline Plans to Split as Oil Tanker Rates Decline to Lowest Since 1999

Frontline Ltd., the world’s biggest operator of the largest oil tankers, plans to split the company to withstand the worst rates since 1999. The shares jumped as much as 35 percent in Oslo trading.  More »
A canned powdered milk for infants Meiji Step, manufactured and sold by Japan's major food and candy maker Meiji Co., is shown. Traces of radiation spilled from the hobbled Japanese nuclear plant were detected in baby formula Tuesday in the latest in a string of contaminated food turning up in this nation. Meiji recalled the canned powdered milk, with expiration dates of October 2012. But the company said the levels of radioactive cesium found were so low that they would not affect health. (AP Photo/Kyodo News)

Radiation traces found in Japanese baby formula

Traces of radiation spilled from Japan’s hobbled nuclear plant were detected in baby formula Tuesday in the latest case of contaminated food in the nation.  More »
(Photo: BFS Man)

MIT study shows U.S. must protect power grid from cyberattacks

The U.S. should implement standards to reduce the risk of cyberattacks on the electricity grid and should designate one agency responsible for overseeing grid cybersecurity, a new report from the Massachusetts Institute of Technology said.  More »
A drilling rig at work for El Paso Exploration & Production in the Altamont field in Utah (Photo: El Paso Corp.)

Energy companies increase E&P spending 10 percent in 2012

Companies will spend a record of nearly $600 billion on global exploration and production of oil and natural gas next year, according to a Barclay’s Capital analyst report released Monday.  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 Halliburton destroyed critical cement test results

BP accused Halliburton Energy Services of intentionally destroying evidence that might be used to prove the oilfield services firm shares blame for the blowout that caused the 2010 Gulf of Mexico oil spill.  More »
(Image: Flickr/pawpaw67)

Constellation power plant meets EPA goals AEP calls unattainable

Constellation Energy Group Inc. spent $885 million cleaning up pollution from its coal-fired power plant in Baltimore. Now it’s urging the White House to reject pleas from competitors that they can’t do the same before a 2015 deadline.  More »
A Chesapeake Energy drilling rig (Photo: Chesapeake Energy)

Chesapeake sells $750 million in shares of Utica subsidiary

Chesapeake Energy Corp. (CHK), which agreed last month to sell part of its Utica Shale holdings, sold to a group of private investors $750 million worth of preferred shares in a subsidiary created to help fund development of the oil and natural-gas field.  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)

Chevron needs to ‘come into line’ in Brazil, minister says

Chevron Corp. needs to “come into line” with Brazil’s laws, and the country is studying if the San Ramon, California-based producer will be able to compete for new exploration licenses after causing an oil spill, the country’s oil minister said.  More »
(Photo: AEI Services)

Entergy to spin off transmission business to ITC

Utility holding company Entergy Corp. plans to spin off its electric transmission business and merge it into ITC Holdings Corp., which operates power transmission lines in the Midwest.  More »
Chevron's Genesis platform is shown in the Gulf of Mexico.  (AP Photo/Mary Altaffer)

Oil companies invested a record $558 billion last year

Oil and gas companies spent a record $558 billion last year on finding and developing new supplies because of acquisitions in the U.S. and Latin America, according to an IHS Herold report.  More »
OPED - ENRON PUZZLE

Some say Enron deserves brighter legacy

The name Enron has become shorthand for many things in the 10 years since the company went bankrupt, few of them positive.  More »
Shell Oil Co. Logo

Shell renews downtown lease

Shell has renewed its downtown lease, marking what real estate firms say is the largest lease transaction so far in 2011.  More »