Fuel Fix

(AP file photo/Sue Ogrocki)

Valero expects 4Q earnings to range from zero to 10 cents a share

Valero Energy Corp. said Monday it expects to report earnings in the range of zero to 10 cents a share for the fourth quarter of 2011, but for the full year the company is expected to report its highest annual earnings per share since 2008.  More »
Oil pumps work at sunset Monday, Jan. 2, 2012, in the desert oil fields of Sakhir, Bahrain, in the Persian Gulf. (AP Photo/Hasan Jamali)

Iran: Oil embargo would be economic suicide for EU

Iran’s OPEC governor says an embargo by the European Union on Iranian oil would be “economic suicide” for Europe.  More »
(Photo: AEI Services)

Electricity declines 50 percent with shale boom

A shale-driven glut of natural gas has cut electricity prices for the U.S. power industry by 50 percent and reduced investment in costlier sources of energy.  More »
In this image made off Japan's NTV/NNN Japan television footage, smoke ascends from the Fukushima Dai-ichi nuclear plant's Unit 3 in Okumamachi, Fukushima Prefecture, northern Japan on Monday, March 14. The second hydrogen explosion in three days rocked Japan's stricken nuclear plant Monday, sending a massive column of smoke into the air and wounding 11 workers. (AP Photo/NTV/NNN Japan)

New Fukushima investigation promises to dig deeper into nuclear crisis

The head of Japan’s latest investigation into the Fukushima nuclear disaster promised to dig deeper than previous inquiries into the events that unfolded after an earthquake and tsunami struck the country in March.  More »
(AP Photo/Keith Srakocic)

Drilling could help plug abandoned oil wells

Almost all of the 20 homeowners in Belmar pay to run a water chlorination system to replace what was free well water from an Allegheny River aquifer. In the 1980s, an oil driller polluted the water, in part, they believe, by dumping waste brine into abandoned oil wells that could date to the 1800s, when Edwin L. Drake set off the boom by tapping his famous well in Titusville.  More »
Chevron hired an investment banker to gauge buyer interest in its Hawaiian operations.
(AP Photo/Lynne Sladky)

Chevron orders three new rigs from Transocean for Thai drilling

Chevron Corp. (CVX), the second-largest U.S. energy company by market value, ordered three new shallow- water drilling rigs from Transocean Ltd. (RIG) that will be used in Thailand exploration projects starting in 2013.  More »
The Ensco 8501 semi-submersible rig in the Gulf of Mexico (Jennifer A. Dlouhy/Houston Chronicle)

Post-moratorium high for Louisiana OCS active rigs

Louisiana Department of Natural Resources Secretary Scott Angelle says 38 rigs were actively drilling in Louisiana Outer Continental Shelf waters in the most recent weekly count.  More »
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Afren announces oil discovery off Nigeria coast

Afren PLC says it has discovered a new oil find just off Nigeria’s southern coast.  More »
(Photo: Fotolia)

Oil climbs above $100 in Asia amid Iran tensions

Oil climbed above $100 a barrel today in Asia after Saudi Arabia, the world’s largest exporter of the commodity, indicated it thinks prices should be maintained around that level.  More »
(Photo: David Paul Ohmer/Flickr)

FuelFix Newslinks |01.17.12|

ConocoPhillips seeks oil sands partners. Chevron searching from two workers after rig fire. Anadarko finds more gas in Mozambique.  More »
This aerial photo shows an oil sands mine facility near Fort McMurray, in Alberta, Canada. The proposed Keystone XL pipeline would carry oil sands crude from projects in Alberta to refineries along the Gulf Coast. (AP Photo/The Canadian Press, Jeff McIntosh, File)

Lack of pipelines drives price gap between Brent and WTI Index

The price differences between Brent crude oil and West Texas Intermediate (WTI) crude oil market prices are the result of a shortage of U.S. pipeline capacity and will continue to increase, according to energy pricing consultants.  More »

ConocoPhillips seeking partner for oil sands assets

Houston-based ConocoPhillips is searching for a partner to buy 50 percent of its Canadian oil sands assets, according to a Reuters story.  More »
Anadarko driller Brazil

Three Euro companies to bid on Anadarko’s Brazilian business

Three European oil companies are preparing to bid on Anadarko’s Brazilian offshore exploration business, according to London’s Financial Times  More »
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Direct Energy moving its corporate headquarters to Houston

Direct Energy, a national supplier of electricity, natural gas and related services, has announced plans to move its corporate headquarters to Houston from Toronto in the next 12 to 18 months.  More »
Jack  Gerard, CEO American Petroleum Institute during an editorial board interview on Wednesday, April 21, 2010, in Houston. (James Nielsen/Houston Chronicle)

API takes Keystone XL case to South Carolina

API President Jack Gerard’s speech in the state hosting the next presidential primary highlights the group’s heightened lobbying and political efforts, especially on the Keystone XL pipeline, in key states ahead of the 2012 election.  More »