Oil prices fall as Libya promises cease-fire

IAEA deflects criticism of response to Japan’s reactor crisis

Posted on March 21, 2011 at 9:59 am by Bloomberg in Accidents, Asia, Nuclear

The disaster at Tokyo Electric Power Co.’s Fukushima Dai- Ichi nuclear complex shows that current emergency measures are inadequate and reflect “the realities of the 1980s, not of the 21st century,” said Yukiya Amano, director of the United Nations nuclear watchdog. More »

KNOC buys Texas shale stake from Anadarko for $1.55B

Posted on March 21, 2011 at 9:55 am by Bloomberg in Asia, Natural gas, Shale, Social

South Korea’s state-owned energy company will pay Anadarko’s drilling costs in the Maverick basin block this year after the deal closes, in exchange for a 23.67 percent stake. KNOC will pay 90 percent of Anadarko’s drilling costs in the block after this year. More »

Libya strikes raise risks of longer oil field shutdowns

Posted on March 21, 2011 at 6:56 am by Bloomberg in Africa, Crude oil, Middle East

The international military intervention in Libya risks prolonging the shutdown of North Africa’s most productive oil fields as well as reprisals by Muammar Qaddafi’s regime against foreign energy assets. More »

FuelFix Newslinks |03.21.11|

Posted on March 21, 2011 at 6:43 am by Tom Fowler in General

ATP gets back to the deep. $3 more per month. Gulf slick likely sediment. More »

As Japan’s atomic crisis eases, prime minister finds reason for hope

Posted on March 21, 2011 at 6:40 am by Bloomberg in Accidents, Asia, Nuclear

As the battle to prevent a meltdown enters its 11th day, Prime Minister Naoto Kan’s signs of optimism are the strongest from a Japanese official amid the world’s worst nuclear crisis in 25 years. Temperatures of pools holding spent fuel rods have cooled thanks to thousands of tons of water sprayed over the reactors since the March 11 earthquake, which knocked out cooling systems and water pumps. More »

Nuke agency to begin review of U.S plant safety

Posted on March 21, 2011 at 6:31 am by Associated Press in Accidents, Nuclear

Nuclear Regulatory Commission Chairman Gregory Jaczko said the agency was likely to perform a short-term review of existing nuclear reactors, “and then probably a much longer look” based on information from Japan. More »

Coast Guard: Gulf substance is likely sediment

Posted on March 20, 2011 at 10:01 pm by Associated Press in Gulf oil spill

The Coast Guard tested a miles-long patch of discolored goop floating in the Gulf of Mexico Sunday and found only trace amounts of petroleum that were well below the state of Louisiana’s standard for clean water. More »

Valero CEO: Excess refining capacity remains

Posted on March 20, 2011 at 7:42 pm by Reuters in Refining

The San Antonio-based refiner expects most of the refineries shut in Japan will quickly return to production and no demand will be placed on U.S. West Coast markets. (Via Reuters) More »

A crisis that markets can’t grasp

Posted on March 20, 2011 at 3:10 am by New York Times in Nuclear

As Japan’s disaster evolves, Wall Street keeps recalculating the damage. So far, it’s been hard to rely on history for guidance. (via NYT) More »

Houston-area power bills may go up $3 a month

Posted on March 19, 2011 at 12:30 am by chron.com Energy in Electricity

The Texas Supreme Court has granted CenterPoint Energy’s request to recover what may be more than $2 billion in deregulation costs, which could mean another $3 per month on customer electric bills over the next 15 years. More »

More details on Exxon’s new campus

Posted on March 18, 2011 at 4:52 pm by Tom Fowler in Social, Workforce

Papers are shuffling, dirt is moving on what may be Exxon Mobil’s new Houston-area campus near The Woodlands. More »