Fuel Fix

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 to be audited by Brazil on oil spill

Brazil’s federal audit court wants to investigate contracts between Chevron Corp (CVX) and Petroleo Brasileiro SA (PETR4), its partner at the Frade project where an oil leak occurred, O Globo reported, without saying where it got the information.  More »
Samson Investment Co. Chief Executive Officer Stacy Schusterman. (Photo: F. Carter Smith/Bloomberg)

KKR agrees to buy Samson for $7.2 billion

KKR (KKR) & Co. agreed to acquire most of Samson Investment Co., a family-owned oil and natural-gas producer, for $7.2 billion in the largest corporate leveraged buyout of the year.  More »
Kenny LeBaron, left, and his brother Joshua moved to North Dakota from Minnesota to take advantage of higher salaries due to an oil boom there. Here they service a gas and oil well near Watford City, North Dakota. (Glen Stubbe/Minneapolis Star Tribune/MCT)

North Dakota surpasses oil production record

North Dakota oil drillers have outdone last year’s record crude production and are nearing a milestone of a half-million barrels of oil a day, according to an Associated Press analysis confirmed by state and industry officials.  More »

(Image: Fotolia)

Goldman Sachs raises 2011 price increase for WTI oil

Goldman Sachs Group Inc. (GS) raised its New York Mercantile Exchange oil price forecast for the first quarter of 2012 to $102 a barrel from $99.50 in October, according to an e-mailed report by the bank today.  More »
The Noble Paul Romano. (Photo: Noble Corp.)

Cyprus to launch new offshore oil and gas search

Cyprus will launch a new licensing round for more exploratory drilling for offshore oil and gas in four to six weeks, an official said Wednesday, a move underscoring its right to search for energy sources which rival Turkey strongly disputes.  More »
Greg Thiergart, a radio communication technician with CenterPoint Energy, works on a smart meter project in Houston. (Houston Chronicle file photo/Johnny Hanson)

Could smart meters be blamed for poor WIFI signal?

The smart meters have caught flak for being expensive and raising bills, but about 200 Maine residents are now blaming them for poor WIFI signals, jamming their Netflix online streams and damaging computer hard drives.  More »
(Photo: Vectorportal/Flickr)

Bomb threat shuts down East Texas biomass facility

A biomass plant in East Texas has shut down while law enforcement officials investigate a bomb threat scrawled inside a portable toilet.  More »
Workers in protective suits and masks wait to enter the emergency operation center at the crippled Fukushima Dai-ichi nuclear power station in Okuma, Japan in 2011. (AP Photo/David Guttenfelder, Pool)

Vindicated seismologist says Japan still underestimates threat

Dismissed as a “nobody” by Japan’s nuclear industry, seismologist Katsuhiko Ishibashi spent two decades watching his predictions of disaster come true: First in the 1995 Kobe earthquake and then at Fukushima. He says the government still doesn’t get it.  More »

Weir to buy Seaboard for $675 million to expand U.S. market

Weir Group Plc (WEIR), the Scottish maker of pumps and equipment for mining companies, agreed to acquire Seaboard Holdings Inc for $675 million to expand in North America.  More »
Ships try to control an oil spill in an offshore field operated by Chevron at the Bacia de Campos, in Rio de Janeiro state, Brazil. More than 2,600 barrels of oil may have spilled into the Atlantic ocean because of a leak at an offshore Chevron drilling site, IBAMA officials said. (AP Photo/Ibama)

Chevron to be fined for false data on spill, procedure flaws

Chevron Corp. (CVX) will be fined for falsifying information to Brazil’s oil regulator on a spill in deep waters off the coast of Rio de Janeiro and for failing to meet a plan to counter the accident.  More »
This underwater image taken and released by Brazil's Environment and Natural Resources Institute, IBAMA, shows an oil spill in an offshore field operated by Chevron oil company at the Bacia de Campos, in Rio de Janeiro state, Brazil, Nov. 11, 2011. More than 2,600 barrels of oil may have spilled into the Atlantic ocean because of a leak at an offshore Chevron drilling site, IBAMA officials said Friday. (AP Photo/Ibama)

Chevron spill unlikely to prompt new Brazilian rules

While fallout from the disastrous Gulf of Mexico oil spill reverberated across the deep-water drilling industry last year, the oil leaking into Brazil’s Atlantic waters this month won’t create such major waves, energy analysts say.  More »
Iraqi workers are seen at the Rumaila oil refinery, near the city of Basra, 340 miles southeast of Baghdad. (AP photo: Nabil al-Jourani)

Iraq has told Exxon it’s in breach of laws

Iraq has told Exxon Mobil Corp. (XOM) that the U.S. company’s contracts with the Kurdistan Regional Government to explore in northern Iraq are in violation of the nation’s law, Deputy Prime Minister Hussain al-Shahristani said.  More »
Shell's contracted drillship Noble Discoverer (is shown) in Dutch Harbor, Alaska.

Shell leads Repsol, ConocoPhillips in search for Arctic oil

Royal Dutch Shell Plc (RDSA) is leading the hunt for oil in the Arctic, which may hold the equivalent of a fifth of proven global reserves, followed by Repsol YPF SA (REP) and ConocoPhillips (COP), according to Sanford C. Bernstein & Co.  More »
Iranian President Mahmoud Ahmadinejad sits for an interview with state-run TV. (AP Photo/Presidency Office, Rouzbeh Jadidoleslam, HO)

Iran says needs to spend $50 billion a year to keep oil output

Iran needs to invest as much as $50 billion a year in its oil industry to maintain its position as OPEC’s second-largest crude exporter and boost natural gas production, Oil Minister Rostam Qasemi said.  More »
(AP file photo/Paul Sakuma)

Shell and Turkey sign oil, gas search deal

Royal Dutch Shell signed a deal today with Turkish state-run petroleum company, TPAO, to search for oil and gas offshore in the Mediterranean and onshore in Turkey’s southeast region.  More »