Fuel Fix

A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)

Paragon Offshore reaches creditor deal for bankruptcy filing

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Under the plan, the oil services provider will be able to reduce more than $1.1 billion of debt and loosen some covenants, the company said.

Paragon Offshore reaches creditor deal for bankruptcy filing

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A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)
Under the plan, the oil services provider will be able to reduce more than $1.1 billion of debt and loosen some covenants, the company said.
( Johnny Hanson / Chronicle )

Rig count tumbles again

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The total rig count, which when including natural gas rig fell by 30, now stands at 541.
Categories: Crude oil, featured

(AP Photo/Matt Houston, File)

Federal scientists: Diluted oil sands crude poses no higher pipeline risk

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The oil sands crude that would flow through Keystone XL is no more likely to cause pipelines to corrode and fail than other heavy crudes, according to a government study Tuesday that could give a boost to the controversial TransCanada Corp. project.

Brazil’s love of cars begins to backfire

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Protests in Brazil demonstrate the political cost of the ruling party’s decision to stake the country’s economic future on the automobile
Categories: Uncategorized

EU court backs Google on personal data

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Adviser to the European Court of Justice says Google should not have to remove sensitive personal data appearing on its search index
Categories: Uncategorized

CFTC to bring civil suit against Corzine

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US watchdog is likely to allege that Jon Corzine was ‘negligent in failing to supervise’ the staff who worked in MF Global’s office in Chicago
Categories: Uncategorized

King warns on ‘jumping the gun’ on rates

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Outgoing BoE chief says Bernanke guidance does not signify imminent return to normal interest rates and that governments have missed opportunities
Categories: Uncategorized
David Barfoot, left, grabs a fiber optic cable at Halliburton's Fiber Optics Facility in Houston as he talks about fiber optic sensor technology attached to a well casing. (Michael Paulsen / Houston Chronicle)

Frack music attracts Halliburton to submarine spy tool

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A gossamer-thin glass line threaded two miles underground is allowing oilfield engineers to listen to a new kind of music: the sounds of fracking.
Royalties from oil production on state lands is pushing Texas' Permanent University Fund toward a record $1 billion in annual revenue. (AP Photo/Hasan Jamali)

U.S. FTC said to open probe of oil price-fixing after EU

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The U.S. Federal Trade Commission opened a formal investigation into how prices of crude oil and petroleum-derived products are set, mirroring a European Union inquiry, two people familiar with the matter said.
Categories: Crude oil
Parts of Calgary, with more corporate headquarters than every other Canadian city except Toronto, are still under water after the Bow and Elbow rivers swelled from record rainfall in the nearby Rocky Mountains, spilling into low-lying communities. Dave Buston/AFP via Getty Images

Calgary’s flooding bruises oil patch economy

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Record flooding near Calgary has left the downtown core of Canada’s oil capital empty while forcing the closing of three oil pipelines and causing as much as C$5 billion ($4.8 billion) in damage to homes and offices.
Categories: Accidents, Crude oil
Bubbles come to the surface where pipelines come across Bayou Corne near Pierre Part, La., in August 2012.  (AP Photo/The Baton Rouge Advocate, Bill Feig)

44 property owners at sinkhole accept settlements

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Nearly half of a group of residents evacuated because of an Assumption Parish sinkhole have accepted buyout offers from Texas Brine Co.
Categories: Legal issues
In a cell phone photo taken by protesters and provided to news media by the Calhoun County Sheriff Department, Chris Wahmhoff stands near the pipeline he crawled into Monday morning, June 24, 2013 near Marshall, Mich. Wahmhoff emerged from the pipe about 5 p.m., after 10 hours.  Protesters seek to halt Enbridge Inc.'s building of a new line, saying it endangers public health. (AP Photo/Calhoun County Sheriff Department via The Enquirer)

Man emerges from Michigan oil line after protest

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A protester has emerged from an oil pipeline at a southern Michigan construction site, ending a protest that lasted about 10 hours.
Categories: Pipelines

Anglo scandal complicates Irish debt talks

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Senior executives had laughed off concerns by regulators and EU governments that they were abusing Dublin’s bank guarantee, audio recordings show
Categories: Uncategorized

Russia denies any role in Snowden affair

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White House says new push to build ‘strategic trust’ has been dealt a ‘serious setback’ over China’s decision to let whistleblower leave Hong Kong
Categories: Uncategorized