Fuel Fix

Exxon Mobil Corp. CEO Rex Tillerson speaks to 2015 IHS Energy CERAWeek. (Billy Smith II/Houston Chronicle)

Exxon Mobil earnings fall 52 percent

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Categories: Crude oil, featured
Lower prices cost oil and gas giant Exxon Mobil’s upstream business $4.5 billion, the company said.

Exxon Mobil earnings fall 52 percent

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Categories: Crude oil, featured
Exxon Mobil Corp. CEO Rex Tillerson speaks to 2015 IHS Energy CERAWeek. (Billy Smith II/Houston Chronicle)
Lower prices cost oil and gas giant Exxon Mobil’s upstream business $4.5 billion, the company said.
(Photographer: Andrey Rudakov/Bloomberg)

Shell to ax thousands of jobs amid $7 billion in spending cuts

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The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”

(Image: Fotolia)

Oil forecasters see second year of price declines

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Brent crude prices, the benchmark for half the world’s oil, will weaken for a second year in 2014 as U.S. output expands and threats to Middle East and North African supply ease, the most-accurate forecasters said.
Categories: Crude oil, Markets
A fireball goes up at the site of an oil train derailment Monday, Dec 30, 2013, in Casselton, N.D. The train carrying crude oil derailed near Casselton Monday afternoon. Several explosions were reported as some cars on the mile-long train caught fire. (AP Photo/Bruce Crummy)

Air quality improving after oil train fire in North Dakota (photos)

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Many residents evacuated a southeastern North Dakota town overnight after a train carrying crude oil derailed and exploded, and officials warned that acrid smoke could blow into the area.

(Fotolia)

Home electricity use in US falling to 2001 levels

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The average amount of electricity consumed in U.S. homes has fallen to levels last seen more than a decade ago, back when the smartest device in people’s pockets was a Palm pilot and anyone talking about a tablet was probably an archaeologist or a preacher.
Categories: Electricity
(StockMonkeys.com/Flickr)

Gasoline prices to rise for New Year’s holiday travelers

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But looking ahead to 2014 expect lower average gas prices, with the average price in the U.S. next year fall by about 10 cents a gallon from 2013’s average, analysts project.
Categories: Gasoline, Transportation
Warren Buffett, chairman and CEO of Berkshire Hathaway Inc. (Photo: Andrew Harrer/Bloomberg)

Buffett strikes deal to buy $1.4B Phillips 66 unit

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Berkshire Hathaway made a deal on Monday for Phillips 66’s flow improver business, which manufactures a chemical agent that breaks up debris and moves oil and gas through pipelines.
Categories: Deals, Pipelines, Refining
A train carrying crude oil from North Dakota’s oil patch derailed Monday near the small town of Casselton, setting off a series of fiery explosions. (Valley News Live – KVLY/KXJB – Fargo/Grand Forks)

Authorities: Oil train apparently hit grain car before explosions (video)

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BNSF Railway spokeswoman Amy McBeth says the several rail cars from the mile-long oil train derailed and caught fire at about 2:10 p.m. Monday less than a mile from the city.
Oil Barrel

Crude oil settles below $100 in thin trading

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Benchmark U.S. crude ended the day down $1.03, closing at $99.29.
Categories: Crude oil, Gasoline