Fuel Fix

(Photo by Eddie Seal for Bloomberg News)

U.S. oil rig count jumps up by a dozen, the first increase in 2015

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The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.

U.S. oil rig count jumps up by a dozen, the first increase in 2015

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(Photo by Eddie Seal for Bloomberg News)
The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.
(AP Photo/Gerald Herbert, File)

BP to settle Deepwater Horizon claims for $18.7 billion

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BP has agreed to pay a record $18.7 billion to settle the federal and state claims against it for its role in the Deepwater Horizon oil spill, sidestepping years of litigation with a promise to pour funds for nearly two decades into efforts to repair vast environmental damage in the Gulf region.
Categories: featured, Gulf oil spill

    Jeff Allyn, a derrick hand with Raven Drilling, pauses with a cup of coffee while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota. (Andrew Burton/Getty Images)

    Shale drillers’ safety net is vanishing

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    SandRidge, the Oklahoma City-based producer, had about 90 percent of its oil and natural gas liquids output hedged in early 2015, according to a regulatory filing. Next year, the hedges cover less than a third.
    Categories: featured, Shale
(Image: Fotolia)

Oil above $97 a barrel as U.S. supplies decline

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The decline was more than four times bigger than analysts had predicted.

Categories: Crude oil
(credit: Flickr)

Private equity sees growing investment opportunities in oil and gas

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The oil and gas industry is inherently capital intensive, with projects that run into the billions, making it an attractive investment for private equity firms, according to a survey released Tuesday by EY, an international professional services firm.
Categories: Finance/Earnings

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Energy lawyers list industry’s hot topics for 2014

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The prospect of U.S. oil exports and an increase in coal-related bankruptcies are likely to be major topics of conversation in energy circles next year, according to a discussion with lawyers from a leading firm serving the industry.
Joe Oliver, Canada's minster of natural resources, speaks at the CERAWeek 2013 energy conference in Houston. (Johnny Hanson/Houston Chronicle)

Canada sees US as emerging competitor

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Canadian Natural Resources Minister Joe Oliver said the prospect of the U.S. becoming the world’s biggest crude producer will transform it from a customer into a “competitor,” underscoring the need to build Canadian pipelines to reach Asian markets.
Categories: Canada, Markets
Iran's Minister of Petroleum Bijan Namdar Zangeneh (AP Photo/Hans Punz)

Iran plans to meet foreign oil companies to seek investment

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Iran plans to meet with international oil companies as soon as March to try to entice investors to its energy industry once world powers lift sanctions, the Persian Gulf state’s oil minister said.
Photo: www.thegradstudentway.com

Commentary: A failure nearly ended my oil & gas career, and then drove me to success

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So far, my career has gone pretty well. Sure, I’m not even close to feeling like I’ve “made it”, but overall things have gone more or less my way. Still, that doesn’t mean I haven’t suffered a few setbacks, and I always think about how things could have turned out if those setbacks had ended differently and I hadn’t caught a few lucky breaks.
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ConocoPhillips comments on Iran pitch to return

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ConocoPhillips has previously made plans to pursue oil in Iran, but the company had no response Wednesday after Iran’s oil minister reportedly named the company as one that it wants to look for oil within the nation.
Categories: Exploration, Middle East